LONDON (Alliance News) - Impax Environmental Markets PLC on Wednesday said it intends to propose a new auditor at its annual general meeting in May, selected through a competitive tender.
The investment company's current auditor is Ernst & Young LLP, which was selected following a competitive tender in 2013.
In mid-May 2018, Impax shareholders voted against the resolution to re-appoint Ernst & Young LLP as auditor to the company. Thus Ernst & Young will not be invited to participate in the new audit tender, Impax highlighted.
In addition, also in May 2018 the board had opposed the resolution to increase the maximum aggregate remuneration of the directors to GBP200,000 from GBP150,000 per annum.
On Wednesday, Impax confirmed that no further increase to the current maximum of GBP200,000 per annum will be sought before the 2021 annual general meeting. The company also explained that the maximum aggregate remuneration of the directors was introduced to provide the board with flexibility to meet the company's requirements, including the ability to appoint additional directors.
A final update in relation to this subject will be provided in the company's next annual report, it said.
Impax shares were trading 0.4% higher on Wednesday at 264.00 pence each.
Impax Asset Management (IEM)