Last checked at 9 Oct 2018 07:00
Impax Asset Management Group plc
Related Party Transaction
Introduction agreement
Impax Asset Management Group plc (the "Company") is pleased to announce that its subsidiary, Impax Asset Management Limited ("IAM"), has entered into an introduction agreement with Alfred Berg Kapitalförvaltning AB ("Alfred Berg"), a subsidiary of BNP Paribas Asset Management Holding ("BNPP") in relation to a new client that Alfred Berg has introduced to IAM. The introduction agreement provides inter alia for IAM to compensate Alfred Berg for services linked to the introduction (the "Transaction"). The fees payable by IAM to Alfred Berg, to be paid quarterly, shall be calculated as a percentage of the annual management fee IAM receives from the new client on rolling inflows.
BNPP has an ongoing distribution relationship with IAM and it is contemplated that in future BNPP and/or its subsidiaries will introduce additional clients to IAM.
As BNPP is a substantial shareholder of the Company as defined under the AIM Rules, and Alfred Berg is an associate of BNPP as defined under the AIM Rules, the entry into the Introduction Agreement 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) 207798 626282 + 44 (0) 20 3770 7914
impax@montfort.london
Guy Wiehahn/Rishi Shah Tel: +44 (0) 20 7418 8893Nominated Adviser and BrokerPeel Hunt LLP