We don’t support this browser anymore.
This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

Impax Environmental Markets plc (IEM) Ordinary 10p

Sell:412.00p Buy:414.00p 0 Change: 2.00p (0.48%)
FTSE 250:0.45%
Market closed |  Prices as at close on 6 February 2026 Prices delayed by at least 15 minutes | Switch to live prices |
Tender Offer

Impax Environmental Markets plc Ordinary 10p

Type:
Tender Offer
Shareholder action required:
Yes
Status:
Client deadline
Details (last updated 6 Feb 2026)

Impax Environmental Markets plc is proposing to repurchase up to 100% of its shares in issue. To do this the company is offering to buy its shares at a price to be calculated based on the net asset value (NAV) as of close of business on 13 March 2026, less any applicable costs. This is called a tender offer. The tender offer is subject to shareholder approval at a meeting to be held on Monday 23 February 2026.

 

The tender offer is only available to those holding shares as of close of business on 23 January 2026. This allows time for any outstanding trades to settle by the record date of 27 January 2026.

 

The tender offer is also conditional on the satisfaction of certain conditions. One of these conditions is Saba Capital, which holds approximately 20.7% of all Impax Environmental Markets plc shares in issue, tendering all (or materially all) of its shareholding. If this condition is not satisfied, the Board has stated that it will terminate the tender offer and put forward proposals for a second tender offer, which will be subject to shareholder approval at a later date.

 

You can ask to sell all or part of your holding in the offer. If you don’t want to sell any shares, you don’t need to do anything.

 

Sell shares in the offer – Act by noon on Wednesday 25 February 2026

 

Any shares you ask to sell will be removed from your portfolio from 25 February 2026. The tender price is due to be announced on 16 March 2026, and you’ll receive cash from shares successfully tendered on or around 25 March 2026.

 

Full details of this event will be sent to Qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter/message and not on the summary information outlined above.

×
Sell:412.00p
Buy:414.00p
Change: 2.00p (0.48%)
Deal now Deal for just £11.95 per trade in a Stocks and Shares ISA, Lifetime ISA , SIPP or Fund and Share Account
Deal now
Market closed |  Prices as at close on 6 February 2026 Prices delayed by at least 15 minutes | Switch to live prices |
Tender Offer

Impax Environmental Markets plc Ordinary 10p

Type:
Tender Offer
Shareholder action required:
Yes
Status:
Client deadline
Details (last updated 6 Feb 2026)

Impax Environmental Markets plc is proposing to repurchase up to 100% of its shares in issue. To do this the company is offering to buy its shares at a price to be calculated based on the net asset value (NAV) as of close of business on 13 March 2026, less any applicable costs. This is called a tender offer. The tender offer is subject to shareholder approval at a meeting to be held on Monday 23 February 2026.

 

The tender offer is only available to those holding shares as of close of business on 23 January 2026. This allows time for any outstanding trades to settle by the record date of 27 January 2026.

 

The tender offer is also conditional on the satisfaction of certain conditions. One of these conditions is Saba Capital, which holds approximately 20.7% of all Impax Environmental Markets plc shares in issue, tendering all (or materially all) of its shareholding. If this condition is not satisfied, the Board has stated that it will terminate the tender offer and put forward proposals for a second tender offer, which will be subject to shareholder approval at a later date.

 

You can ask to sell all or part of your holding in the offer. If you don’t want to sell any shares, you don’t need to do anything.

 

Sell shares in the offer – Act by noon on Wednesday 25 February 2026

 

Any shares you ask to sell will be removed from your portfolio from 25 February 2026. The tender price is due to be announced on 16 March 2026, and you’ll receive cash from shares successfully tendered on or around 25 March 2026.

 

Full details of this event will be sent to Qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter/message and not on the summary information outlined above.

×
Sell:412.00p
Buy:414.00p
Change: 2.00p (0.48%)
Market closed |  Prices as at close on 6 February 2026 Prices delayed by at least 15 minutes | Switch to live prices |
Tender Offer

Impax Environmental Markets plc Ordinary 10p

Type:
Tender Offer
Shareholder action required:
Yes
Status:
Client deadline
Details (last updated 6 Feb 2026)

Impax Environmental Markets plc is proposing to repurchase up to 100% of its shares in issue. To do this the company is offering to buy its shares at a price to be calculated based on the net asset value (NAV) as of close of business on 13 March 2026, less any applicable costs. This is called a tender offer. The tender offer is subject to shareholder approval at a meeting to be held on Monday 23 February 2026.

 

The tender offer is only available to those holding shares as of close of business on 23 January 2026. This allows time for any outstanding trades to settle by the record date of 27 January 2026.

 

The tender offer is also conditional on the satisfaction of certain conditions. One of these conditions is Saba Capital, which holds approximately 20.7% of all Impax Environmental Markets plc shares in issue, tendering all (or materially all) of its shareholding. If this condition is not satisfied, the Board has stated that it will terminate the tender offer and put forward proposals for a second tender offer, which will be subject to shareholder approval at a later date.

 

You can ask to sell all or part of your holding in the offer. If you don’t want to sell any shares, you don’t need to do anything.

 

Sell shares in the offer – Act by noon on Wednesday 25 February 2026

 

Any shares you ask to sell will be removed from your portfolio from 25 February 2026. The tender price is due to be announced on 16 March 2026, and you’ll receive cash from shares successfully tendered on or around 25 March 2026.

 

Full details of this event will be sent to Qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter/message and not on the summary information outlined above.

×
Deal now Deal for just £11.95 per trade in a Stocks and Shares ISA, Lifetime ISA , SIPP or Fund and Share Account
Deal now
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Objective

To enable investors to benefit from growth in the markets for cleaner or more efficient delivery of basic services of energy, water and waste. Investments are made predominantly in quoted companies which provide, utilise, implement or advise upon technology-based systems, products or services in environmental markets, particularly those of alternative energy and energy efficiency, water treatment and pollution control, and waste technology and resource management (which includes sustainable food, agriculture and forestry).
Security Weight
Waste Connections Inc 3.20%
DSM-Firmenich AG CHF1 3.09%
Trimble Inc 2.89%
Clean Harbors Inc 2.75%
Ormat Technologies Inc 2.62%
PTC Inc 2.36%
Veolia Environnement SA EUR5 2.34%
Xylem Inc 2.33%
Mondi plc ORD EUR0.22 2.18%
Air Liquide Eur5.5 2.16%
Sector Weight
Industrials 42.91%
Technology 23.97%
Basic Materials 11.98%
Utilities 9.44%
Consumer Defensive 3.22%
Consumer Cyclical 2.83%
Healthcare 1.74%
Real Estate 1.65%
Country Weight
United States 42.30%
United Kingdom 11.38%
Canada 9.91%
France 4.50%
Switzerland 4.31%
Netherlands 3.11%
Australia 2.14%
Ireland 2.07%
India 2.07%
China 2.07%

Fee Structure

The Manager is entitled to remuneration each month at a rate equivalent to one twelfth of 0.9% on the NAV up to and including the first GBP 475m and 0.65% on NAV in excess of GBP 475m and 0.45% on above GBP 1.4b NAV

Dividend Policy

The Directors typically expect the Company to generate returns in the form of capital gains rather than revenue. It is the Company’s policy to pay out substantially all earnings by way of dividend for each year, with dividends mainly financed from current year net income and, since 2020, to declare two dividends each year.

ASSET SPLIT

Total number of holdings: 64.

Trust Manager

Sanjeev Lakhani

Manager Bio

Sanjeev is a co-Portfolio Manager of the Impax Climate strategy. He is also responsible for ideas generation, fundamental research and thought leadership for Impax’s Thematic and Lens strategies with a primary focus on Industrials. Sanjeev joined Impax in 2023 from Highclere International investors, where he worked as an investment analyst and assistant portfolio manager,covering International small and mid cap stocks primarily across Industrials and Utilities. Prior to that he worked at Janus Henderson Investors as an Investment Manager across their Sustainable, Global and International strategies. Sanjeev started his career at PwC where he worked in corporate finance and qualified as a chartered accountant(ACA). Sanjeev holds a BSc in Economics from the London School of Economics. He is a CFA Charterholder and a member of the ICAEW.

Board Of Directors

Glen SuarezChairman, Aine Kelly, Stephanie Eastment, Guy Walker, Elizabeth Surkovic

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Objective, holding data, trust manager and bio information, dividend policy, asset split and fee structure are provided by Morningstar.

The London Stock Exchange does not disclose whether a trade is a buy or a sell so this data is estimated based on the trade price received and the LSE-quoted mid-price at the point the trade is placed. It should only be considered an indication and not a recommendation.

Trades priced above the mid-price at the time the trade is placed are labelled as a buy; those priced below the mid-price are sells; and those priced close to the mid-price or declared late are labelled 'N/A'.