Impax Environmental Markets PLC (IEM), the London-listed investment trust focused on environmental and clean energy markets, has published its latest total voting rights figure in accordance with FCA Disclosure Guidance and Transparency Rules. As at 31 October 2026, the company confirms that 38,859,208 ordinary shares carry voting rights, serving as the regulatory denominator for shareholder notification obligations. The disclosure is a routine but important compliance update for existing and prospective investors holding significant stakes in the trust.

Key Points

  • Impax Environmental Markets PLC (IEM) — London-listed environmental investment trust
  • Total voting rights figure confirmed at 38,859,208 ordinary shares as at 31 October 2026
  • Total shares in issue stand at 157,421,400, with 118,562,192 held in Treasury
  • Investors with significant holdings should use 38,859,208 as the denominator when assessing FCA notification thresholds

IEM's Total Shares in Issue and Large Treasury Position as at 31 October 2026

The announcement confirms that Impax Environmental Markets PLC has 157,421,400 ordinary shares of 10 pence each in issue as at 31 October 2026. Of that total, 118,562,192 shares are held in Treasury, meaning they carry no voting rights and are excluded from the regulatory denominator calculation. This substantial Treasury position reflects the trust's share buyback activity over time and materially reduces the effective voting share count relative to the gross shares in issue. Investors and analysts tracking ownership concentration should note the scale of this difference when assessing voting influence across the shareholder register.

FCA Rule 5.6.1 Denominator Figure Confirmed for Shareholder Notification Purposes

Under Rule 5.6.1 of the FCA's Disclosure Guidance and Transparency Rules, listed companies are required to publish their total voting rights monthly to enable shareholders and others with notification obligations to determine whether their holdings trigger a disclosure requirement. The confirmed denominator of 38,859,208 is the figure that shareholders must use when calculating whether they have crossed a reporting threshold. Any investor whose holding represents a qualifying percentage of this figure may be obliged to notify the company and the FCA of their interest or any change to it.

Impax Environmental Markets' Focus on Sustainability-Linked Investment Strategies

Impax Environmental Markets PLC is structured as an investment trust and invests in companies operating across environmental markets, including water treatment, waste management, renewable energy, and energy efficiency. The trust is managed by Impax Asset Management, a specialist in sustainability-focused strategies. Its shareholder base includes institutional investors with specific ESG mandates, making accurate and timely voting rights disclosures particularly relevant for those managing large positions. Regulatory transparency around share capital is a standard governance requirement, though it also provides shareholders with a precise and up-to-date snapshot of effective ownership across the register.