Impax Asset Management Group plc Share Incentive Plan (4940K)
April 11 2018 - 1:00AM
UK Regulatory
TIDMIPX
RNS Number : 4940K
Impax Asset Management Group plc
11 April 2018
Impax Asset Management Group plc ("Impax" or the "Company")
Share Incentive Plan
Impax is pleased to announce that it has launched an HMRC
approved Share Incentive Plan ("SIP") to all eligible
employees.
The purpose of the SIP is to provide UK employees with the
opportunity to acquire ordinary shares of 1 pence each in the
Company ("Shares") in a tax-effective way and to thereby further
align interests of employees with the Company.
Employees may choose to make deductions from their pre-tax
salary which will be used to purchase Shares ("Partnership Shares")
on the open market as soon as practicable. Employees may authorise
deductions of up to GBP150 per month or make periodic lump sum
contributions. The total deductions cannot exceed GBP1,800 in any
tax year (or 10% of salary if lower).
The SIP is operated through a trust (the "Trust") which is
administered by an independent trustee (the "Trustee").
For every Partnership Share purchased by a participating
employee (a "Participant"), the Company will award the Participant
one Matching Share which the Trust will purchase on the open market
at the same time as the Partnership Shares, using funds provided by
Impax.
Participants immediately become the beneficial owners of the
Partnership and Matching Shares, however the Shares are initially
held in the Trust. A Participant may instruct the Trustee to sell
their Partnership Shares or transfer them into their own name, but
a Matching Share will be forfeited if the Participant takes the
corresponding Partnership Share out of the Trust within three years
of the acquisition date.
If a Participant ceases to be employed by the Company or one of
its subsidiaries, the Participant must sell any remaining Shares
held in the Trust or transfer them into their own name. Any
Matching Shares awarded in the previous three years will however be
forfeited unless the Participant has left employment in certain
special circumstances.
Participants may instruct the Trustee how to exercise their
voting rights over Shares held for them. In the absence of such
instruction the Trustee shall not exercise voting rights. In
addition, the Trustee will not exercise any voting rights in
relation to any Shares held by the Trust which have not been
allocated to Participants.
The Partnership and Matching Shares will rank for dividends
alongside other Shares. The Trustee shall waive dividends declared
in respect of Shares held by the Trust which have not been
allocated to Participants.
Directors and Applicable Employees (as defined by the AIM Rules
for Companies) will be prohibited from joining the SIP, and from
changing or cancelling their participation, in a close period.
LEI number: 213800AJDNW4S2B7E680
Enquiries:
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
Anne Gilding Tel: +44 (0) 20 3912 3000 (switchboard)
Head of Brand & Communications Tel: +44 (0) 20 3912 3126
(direct)
Impax Asset Management Group plc Tel: +44 (0) 7881 249612
(mobile)
7th floor, 30 Panton Street
London SW1Y 4AJ
www.impaxam.com Email: a.gilding@impaxam.com
Guy Wiehahn Tel: +44 (0) 20 7418 8893
Nominated Adviser and Broker
Peel Hunt LLP
This information is provided by RNS
The company news service from the London Stock Exchange
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