Impax Asset Management Regulatory News (IPX)

5 Jun 2008 10:36

Holding(s) in Company and MoU for Promotion of Funds in Japan

Impax Group plc ("Impax" or the "Company"), the AIM quoted investment company which focuses exclusively on the environmental markets sector, announces that it was notified yesterday that, following the acquisition of 200,000 ordinary shares of 1 pence each in the Company ("Ordinary Shares") from existing shareholders, DIAM Co., Ltd ("DIAM") holds 3,400,000 Ordinary Shares. This represents 3.11 per cent. of the Company's issued share capital. 

As previously announced, since August 2007 the Company has been investment sub-adviser to the DIAM World Environmental Business Fund (the "DIAM Fund"), a fund that invests in a portfolio of mid-cap and large-cap stocks active in environmental markets. Impax has also signed a Memorandum of Understanding with DIAM which will now take effect under which the two companies will work together to promote Impax's funds and investment products managed or advised by Impax in the Japanese market.

Ian Simm, Chief Executive, commented: "We believe that, as investors continue to benefit from exposure to the rapidly expanding environmental sector, there is high potential for Impax's proven investment management and advisory services in Japan. DIAM is among the most respected Japanese financial institutions, and we are delighted to welcome them as an Impax shareholder."

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