Impax Environmental Markets plc (LSE:IEM) commences share repurchases on May 16, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 16, 2023. As per the mandate, the company is authorized to repurchase up to 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 2023, or 15 months from the passing of this resolution, whichever is earlier.