leadf
logo-loader
viewImpax Asset Management

Impax Environmental to ask permission to issue more shares as demand soars

IEM wants to avoid a situation where the share price gets too far above the underlying asset value

Impax Asset Management - Impax Environmental to ask permission to issue more shares as demand soars

Impax Environmental Markets PLC (LON:IEM) is to ask shareholders for permission to issue more shares after consistent demand from investors.

The sustainable-focused investment trust said that it uses the issue or buyback of shares to ensure the shares trade close to their underlying net asset value per share.

IEM added it has already issued just over half of 2021’s permitted allotment of 23mln shares (10%) even though it was only given permission at the AGM in May.

To avoid a situation where the share price gets too far above the underlying asset value, IEM wants approval to issue a further 12.2mln share or 5% of the total currently in issue.

More shares in issue will also allow it to consolidate its position in the FTSE250 index, added the trust.

Impax Environmental is managed by Impax Asset Managers PLC (LON:IPX)

Quick facts: Impax Asset Management

Price: 534 GBX

AIM:IPX
Market: AIM
Market Cap: £696.42 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Impax Asset Management named herein, including the promotion by the Company of Impax Asset Management in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Impax Asset enjoys double digit growth across key metrics in 2019

Impax Asset Management Group PLC's (LON:IPX) Ian Simm tells Procactive London they expanded significantly in 2019, with double digit growth across its key performance indicators. He adds that Impax is ideally positioned to benefit as the big push behind the global economy's transition to a...

on 6/2/20

2 min read