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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
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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.

×
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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.
Open:
413.50p
Trade high:
415.00p
Year high:
432.00p
Estimated NAV:
442.56
Previous close:
413.00p
Trade low:
406.13p
Year low:
298.50p
Premium/Discount:
-6.68%
Previous:
1.50p (0.36%) Previous:
1.50p
Volume:
739,738
Dividend yield:
1.24%
Currency:
GBX
Data delayed by at least 15 minutes.

Share chart Chart

Price

  • Net Asset Value (NAV)
IMPAX ENV.MKT performance chart

The chart is based on estimated NAV but will be updated with actual NAV when available.

Premium/Discount

IMPAX ENV.MKT performance chart
Full interactive share price and premium / discount charts

Performance

1 week 1W 0.24% 1 year 1Y 3.01%
1 month 1M 2.24% 2 years 2Y 8.44%
3 months 3M 2.11% 3 years 3Y 9.27%
6 months 6M 3.53% 5 years 5Y 14.2%

Performance figures are based on the previous close price. Past performance is not an indication of future performance.

Trust Basics

Benchmark: Solactive Gbl Environment Mkt Spc NR USD
Annual management charge: n/a
Performance fee: No
Ongoing charge: 0.90%
Dividend yield: 1.24%
Dividend frequency: Semi-Annually
Total assets: £931m
Gross gearing: 10%
Market capitalisation:Market cap.: £786m
Shares in issue: 190.41 million
Legal structure Closed Ended Investment Company
Domicile: United Kingdom
ISIN GB0031232498

Dividend information for this stock is not available.

Dividend information for this stock is not available.

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Important Documents



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).

Sustainability Label

Sustainability Impact funds invest mainly in companies providing solutions to sustainability problems, with an aim to achieve a positive impact for people or the planet. Examples may include social housing companies.

NET ASSET VALUE (NAV)

Estimated NAV: 442.56p
Latest actual NAV: 445.69p
Latest actual NAV date: 4 February 2026
Premium/Discount: -6.68%
12m average Premium/Discount: -9.30%
NAV frequency: Daily
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%

Key Dates

Launch date: 22 February 2002
Financial year end: December
Next AGM: May 2026

Annual & interim reports

Value Assessment

Value Assessment review date: 31 December 2025
Value Assessment next review date: 31 December 2026
Is Assessment of Value required under COLL: No
Outcome of COLL Assessment of Value: n/a
Outcome of PRIN Value Assessment or review: Product expected to provide fair value for reasonably foreseeable period
Other review related to value and or charges: -
Further information: -
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. Prices provided by NBTrader. Charts provided by Factset. Dividend data provided by Digital Look. Recent trade data provided by MoneyAM. Trust basics, holding data, key dates, objective and NAV 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'.