Impax Asset Management Group plc Related Party Transaction (0469G)
July 19 2019 - 1:00AM
UK Regulatory
TIDMIPX
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
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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