IMPAX ENVRMT MARKETS

Independent proxy advisers recommend that shareholders vote at the June 17 annual general meeting to re-elect the incumbent board of directors of Impax Environmental and to reject the removal and replacement motions put forward by Saba. Saba, the largest shareholder, has nominated an opposing slate of candidates for an extraordinary general meeting; the current board criticises that those nominees provided only limited information on experience, objectives and plans and may be under Saba’s influence. Shareholders must submit their voting instructions in time; the record cutoff for voting eligibility is Sunday at 6:30 p.m. » More on de.investing.com

Independent proxy advisers and the board of directors of Impax Environmental Markets recommend that shareholders accept the buyback offer. The board unanimously supports the offer and intends to tender its own shares. Shareholders may sell up to 100% of their holdings; the process requires approval at the general meeting followed by the active tendering of shares. The board warns that remaining investors could hold shares in a smaller company and that Saba, through a controlling stake, could change strategy and mandate. Deadlines for voting and accepting the offer partly expire on 10 and 14 April respectively. » More on de.investing.com