2nd Sep 2005 17:14
Impax Group PLC02 September 2005 Impax Group plc ("Impax") announces that its wholly owned subsidiary, ImpaxAsset Management Ltd., has arranged a facility with Royal Bank of Scotland (the"RBS facility") to bridge the capital calls for investors in the recentlylaunched Impax New Energy Investors LP (the "New Energy Fund"). The RBS facilityis designed to delay the first drawdown of cash from investors for at leastthree years, thereby enhancing the expected cash-to-cash returns for thoseinvestors. Impax also announces that it has committed to invest up to €3.75m (£2.57m) inthe New Energy Fund as part of the €60m first closing. With the RBS facility inplace, the Directors expect that the first call for cash for this investmentwill be late in 2008 at the earliest. More details on the New Energy Fund are contained in the announcement issued on19 August 2005. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Impax Asset Management