Last checked at 19 Jul 2019 07:00
Impax Asset Management Group plc
Related Party Transaction
Introduction agreements
Impax Asset Management Group plc (the "Company") is pleased to announce that its subsidiary, Impax Asset Management Limited ("IAM"), has entered into separate introduction agreements with BNP Paribas Asset Management Australia Limited ("BNPP AM Australia") and BNP Paribas Asset Management USA, Inc ("BNPP AM US"), who are both affiliates of BNP Paribas Asset Management Holding ("BNPP") in relation to clients that each of BNPP AM Australia and BNPP US have introduced to IAM and introduction of future clients to IAM. The introduction agreements provide inter alia for IAM to compensate BNPP AM Australia and BNPP AM US for services linked to the introductions (the "Transaction"). The fees payable by IAM to BNPP AM Australia and BNPP AM US shall be calculated as a percentage of the annual management fee IAM receives from such clients.
As BNPP is a substantial shareholder of the Company as defined under the AIM Rules, and BNPP AM Australia and BNPP AM US are associates of BNPP as defined under the AIM Rules, the entry into the Transaction constitutes a related party transaction under Rule 13 of the AIM Rules.
The independent directors of the Company, having consulted with Peel Hunt LLP in its capacity as the Company's nominated adviser for the purposes of the AIM Rules, consider the terms of the Transaction to be fair and reasonable insofar as the Company's shareholders are concerned.
Independent directors in relation to the matter are all of the directors of the Company except Arnaud de Servigny who is not considered independent because of his role as non-executive director at BNP Paribas Asset Management France.
LEI number: 213800AJDNW4S2B7E680
Enquiries:
Karen Wagg, Director of Communications Tel: +44 (0) 20 3912 3142
Impax Asset Management Group plc
k.wagg@impaxam.com
Ian Simm
Chief Executive Tel: +44 (0) 20 3912 3000 (switchboard)
Impax Asset Management Group plc
7th floor, 30 Panton Street
London SW1Y 4AJ
www.impaxam.com
Gay Collins/Louis Supple
Montfort Communications Tel: + 44 (0) 7798 626282 + 44 (0) 20 3770 7914
impax@montfort.london
Guy Wiehahn or Rishi Shah Tel: +44 (0) 20 7418 8893Nominated Adviser and BrokerPeel Hunt LLP