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

END

MSCGGUUCCUPRGMU

(END) Dow Jones Newswires

April 11, 2018 02:00 ET (06:00 GMT)

Impax Asset Management (LSE:IPX)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Impax Asset Management Charts.
Impax Asset Management (LSE:IPX)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Impax Asset Management Charts.