IN BRIEF: Impax Environmental exit tender attracts 78% of shares

Impax Environmental Markets PLC - London-based trust investing in companies enabling the cleaner delivery of basic needs or mitigating environmental risks such as pollution and climate change - Says 148.2 million shares were tendered in its exit offer, representing around 78% of shares in issue. Company believes activist investor Saba Capital Management LP has tendered the majority, if not all, of its stake. Tender price to be announced by end of May following asset realisation.

Offer follows shareholder approval last Thursday, with over 99% backing the exit tender despite opposition from Saba. Board says it will review the company's future once the process is complete, taking into account its reduced size and shareholder base. Chair Glen Suarez says: "There are no winners here… the board acted proactively to offer an exit to all shareholders who wished to take it."

Current stock price: 436.58 pence

12-month change: up 32%

By Eva Castanedo, Alliance News reporter

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