Impax Asset Management (LON:IPX)

Impax Asset Management (LON:IPX)


Share Price
248.50 p
Change
6 (2.47 %)
Market Cap
£324.08 m
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Impax Asset Management RNS Release

Related Party Transaction


RNS Number : 6661R
Impax Asset Management Group plc
04 March 2019
 

Impax Asset Management Group plc

 

Related Party Transaction

Investment Management Delegation Agreement

 

Impax Asset Management Group plc (the "Company") is pleased to announce that its subsidiary, Impax Asset Management Limited ("IAM"), has entered into an investment management delegation agreement with BNP Paribas Asset Management France ("BNPP AM France"), a subsidiary of BNP Paribas Asset Management Holding ("BNPP"), whereby IAM will provide investment management services to BNPP AM France in relation to a client mandate for a Luxembourg-based client of BNPP AM France. The investment management delegation agreement provides inter alia for BNPP AM France to pay a fee to IAM for this service (the "Transaction"). The fees payable by BNPP AM France to IAM, to be paid quarterly, shall be calculated as a percentage of the assets under management in relation to BNPP AM France's client.

As BNPP is a substantial shareholder of the Company as defined under the AIM Rules, and BNPP AM France is an associate of BNPP as defined under the AIM Rules, the entry into the investment management delegation agreement constitutes a related party transaction under Rule 13 of the AIM Rules.

The independent directors of the Company, having consulted with Peel Hunt LLP in its capacity as the Company's nominated adviser for the purposes of the AIM Rules, consider the terms of the Transaction to be fair and reasonable insofar as the Company's shareholders are concerned.  

Independent directors in relation to the matter are all of the directors of the Company except Arnaud de Servigny who is not considered independent because of his role as non-executive director at BNPP AM France.

LEI number:  213800AJDNW4S2B7E680

Enquiries:

Karen Wagg, Director of Communications                    Tel: +44 (0) 20 3912 3142

Impax Asset Management Group plc

[email protected] 

 

Ian Simm

Chief Executive                                                                  Tel: +44 (0) 20 3912 3000 (switchboard)

Impax Asset Management Group plc

7th floor, 30 Panton Street

London SW1Y 4AJ                                                             

www.impaxam.com

 

Gay Collins/Louis Supple

Montfort Communications                                                Tel: + 44 (0) 207798 626282 + 44 (0) 20 3770 7914

[email protected]

Guy Wiehahn or Rishi Shah                                               Tel: +44 (0) 20 7418 8893
Nominated Adviser and Broker
Peel Hunt LLP

 


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