IN BRIEF: Impax Environmental welcomes proxy support ahead of key vote

Impax Environmental Markets PLC - London-based investor of companies mitigating environmental risks - Notes that leading independent proxy advisers have recommended that shareholders vote in favour of the resolutions to re?elect the current board at the annual general meeting on June 17 and against the Saba resolutions. Saba wants to replace the board with its nominees at the requisitioned general meeting to be held immediately after the AGM. IEM considers that continuing shareholders deserve a truly ‘independent and appropriately experienced’ board that acts for all shareholders. In It believes the current directors remain best placed to provide this. By contrast, a Saba?nominated Board presents an ‘uncertain outcome’, it says. Therefore reiterates its unanimous recommendation that shareholders vote in favour of its re?election and against Saba’s resolutions to remove the board. ‘We welcome the recommendation from the leading proxy advisers, which supports the Board’s clear view that shareholders are best served by a truly independent and appropriately experienced Board acting in the interests of all shareholders,’ says IEM Chair Glen Suarez.

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