Last checked at 1 Oct 2009 07:00
Embargoed for release at 7.00 a.m.
1 October 2009
Impax Group plc
("Impax" or the "Company")
Result of general meeting
Group to be renamed Impax Asset Management Group plc
Impax, the AIM listed investment manager focused on the environmental sector announces that all resolutions proposed at the general meeting held yesterday were duly passed. The resolutions were proposed further to the circular sent to shareholders dated 14 September 2009.
As a result, the Company's name will be changed to Impax Asset Management Group plc, subject to confirmation by Companies House. The change of name is expected to be effective shortly.
The new name reflects the Company's asset management focus and brings its brand in line with its day-to-day business activities - that of an asset manager dedicated to the environmental sector. Impax has grown to become one of the world's top-performing investment managers in this arena, managing a range of pooled vehicles, segregated accounts and listed funds on behalf of institutional and private investors.
Keith Falconer, Chairman of Impax, commented:
"This name change indicates Impax's focus on managing assets in a sector that we believe will go from strength to strength in the coming years. There is increasing evidence that institutional investors are allocating to this area, and Impax is ideally placed to benefit from this trend."
Ian Simm, Chief Executive of Impax, added:
"The name Impax Asset Management Group plc highlights our dedication to managing leading environmental investment funds as we embark on our next stage of growth.
"Since 1994, when Impax was founded, the environmental sector has become a significant part of the global economy. Impax's investment expertise in listed equities and private equity is recognised worldwide, and we look forward to building on our strong foundations."
Impax's assets under management increased from £185m at 31 August 2005 to £1.13 billion at 31 August 2009. The firm has 15 years' experience in the environmental sector and a track record of delivering excellent returns across long only, private equity and hedge fund strategies.
Impax's largest fund is Impax Environmental Markets plc, a FTSE 250 company. It was up 73% over five years (as at 31 August 2009), outperforming the MSCI World Index (total return) by over 40%1.
1 In sterling
- Ends -
Enquiries:
Impax Group plc
Keith Falconer, Chairman
Ian Simm, CEO 020 7434 1122
Noble & Company Limited
John Riddell, Director 020 7763 2200
Penrose Financial
Gay Collins 020 7786 4882/07798 626282 gayc@penrose.co.uk
Shona Prendergast 020 7786 4884 shonap@penrose.co.uk impax@penrose.co.uk
Notes to editors
Impax Asset Management is a leading specialist investment manager dedicated to the environmental sector. Founded in 1994, Impax now manages c. US $2 billion2 across a range of closed end funds, open ended funds and segregated accounts on behalf of institutional and private investors.
Impax has a track record of delivering excellent returns across long only, private equity and hedge fund strategies. Key investment team members have been working together at Impax for over a decade and have spent the majority of their careers in the environmental sector.
Impax manages a range of specialist own brand and white label funds. Impax Environmental Markets plc (IEM) is the UK's largest environmental markets fund and in the FTSE 250 index.
In 2007, Impax and FTSE established a partnership to develop and manage the Environmental Markets Index Series. The indices in the series are derived from a database managed by Impax.
Impax is a signatory to the UN Principles of Responsible Investment (UNPRI) and a member of the Institutional Investors Group on Climate Change (IIGCC) and the Investor Network on Climate Risk (INCR).
Impax has an award winning track record and is currently shortlisted for the Financial News Award for Excellence in Institutional Asset Management as Sustainable Investment Manager of the Year.
2 Assets under management as of 31st August 2009