Impax Environmental Markets plc (LSE:IEM) commences share repurchases on May 20, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 20, 2024. As per the mandate, the company is authorized to repurchase up to 40,371,073 shares, representing 14.99% of its issued share capital. The maximum price which may be paid for an ordinary share is an amount equal to 5% of the average of the middle market quotations for the ordinary shares for five business days immediately preceding the day on which that share is contracted to be purchased and an amount equal to the higher of the price of the last independent trade and the highest current independent bid for the shares.

The minimum price which may be paid for an ordinary share is 10 p. The program will be valid till the next Annual General Meeting in 2025, or 15 months from the passing of this resolution, whichever is earlier. As of April 10, 2024, the company had 269,320,039 issued shares and had 36,303,500 ordinary shares held in treasury.