RNS Number : 0469G
Impax Asset Management Group plc
19 July 2019
 

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 8893
Nominated Adviser and Broker
Peel Hunt LLP

 


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