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LONDON - Impax Asset Management Group plc, an investment management firm, has announced the launch of a £10 million share buyback program for its ordinary shares. The program commenced today and is part of the company’s strategy to return additional capital to shareholders following an update on capital management priorities.
The buyback is authorized by shareholders from the company’s Annual General Meeting on March 5, 2025, allowing for on-market share buybacks of up to 13,259,655 ordinary shares. Impax has engaged Peel Hunt LLP to manage the program, which will run until no later than December 31, 2025, although there is no assurance that the program will be fully executed.
Purchases under the program will be made on the London Stock Exchange (LON:LSEG) and other trading venues, with the intention of canceling any acquired ordinary shares. Due to the ordinary shares’ limited liquidity, buybacks may represent a significant proportion of the daily trading volume and therefore will not be subject to the exemption in Article 5(1) of the UK Market Abuse Regulation, which pertains to buyback programs.
The company will provide details of any purchases made under the program through Regulatory News Service announcements by 7:30 a.m. on the following business day.
This information is based on a press release statement from Impax Asset Management Group plc.
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