RCS - Impax Environ Mkts - Proxy Advisers Recommend Vote in Favour of Tender

Impax Environmental MarketsAnnouncement

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RNS Number : 5354Z  Impax Environmental Markets PLC  08 April 2026

For immediate release.

Legal Entity Identifier: 213800RAR6ZDJLZDND86

8 April 2026

Impax Environmental Markets PLC

 

Proxy Advisers Recommend Shareholders Vote in Favour of Exit Tender Offer

 

Impax Environmental Markets plc ("IEM" or the "Company") is pleased to note
that the leading independent proxy advisers have recommended that shareholders
VOTE IN FAVOUR of the Exit Tender Offer Resolution at the General Meeting to
be held on 16 April 2026.

The Board of IEM reiterates its unanimous recommendation that shareholders
vote in favour of the Exit Tender Offer. The Directors will be tendering all
of their own shares, reflecting their conviction that this is the right
outcome for IEM's shareholders.

The Exit Tender Offer - Two Actions Required

The Exit Tender Offer will enable shareholders to tender up to 100% of their
shares in the Company and requires two separate shareholder actions:

1.   Shareholders must first approve the Exit Tender Offer by passing the
Resolution at the General Meeting.

2.   Any shareholder who wishes to sell some or all of their shares for cash
under the Exit Tender Offer must actively tender those shares using the
relevant forms, as set out in the Circular.

The Board urges all shareholders to vote in favour of the Resolution to
approve the Exit Tender Offer, regardless of whether they intend to tender
shares.

As a reminder, shareholders who remain invested following the Exit Tender
Offer are likely to be invested in a significantly smaller Company, and the
Board believes there is a significant risk that Saba could hold a controlling
interest, with the power to change the Company's strategy, objectives and
mandate.

Shareholders should therefore carefully review the risk factors set out in the
Circular, including the risks of not tendering, which can be found here: IEM
Exit Tender Offer
(https://www.iemplc.co.uk/continuation-tender-offer-and-notice-of-meeting/) .

How to Vote

For shareholders holding their shares through an investor platform, voting and
tender offer deadlines could be as early as 10 April 2026. Shareholders voting
by proxy must return their proxy forms by no later than 11:00 am on 14 April
2026.

For further information on how to vote and tender your shares, please visit:
How to vote
(https://cdn.iemplc.co.uk/app/uploads/2026/03/IEM-how-to-vote-exit-tender-2026.pdf)

Glen Suarez, Chairman of Impax Environmental Markets plc, said:

"The Board of IEM welcomes the clear recommendation from the leading proxy
advisers for shareholders to vote in favour of the Exit Tender Offer. These
independent endorsements reinforce the importance of enabling shareholders to
exit the Company at close to NAV, rather than remain exposed to the risks
associated with Saba potentially becoming the controlling shareholder and
exercising significant influence over the Company's strategy, objectives and
mandate. I strongly urge all shareholders to take action without delay."

 

Enquiries:

Impax Environmental Markets PLC

Glen Suarez, Chairman, via Winterflood

+44 (0)20 3100 0000

 

Juniper Partners Limited

Corporate Secretary to Impax Environmental Markets PLC

+44 (0)131 378 0500

 

Winterflood Securities Limited

Corporate Broker

Joe Winkley / Neil Morgan / Rose Ramsden

+44 (0)20 3100 0000

 

Camarco

Billy Clegg / Jennifer Renwick

ImpaxEM@camarco.co.uk (mailto:ImpaxEM@camarco.co.uk)
+44(0)203 757 4980

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