REG - Elementis PLC - Directorate Change

ElementisAnnouncement

24/12/2024 07:00

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RNS Number : 1972R  Elementis PLC  24 December 2024

24 December 2024

 

Elementis plc

Directorate Change

Elementis plc (the "Company"), global specialty chemicals company, today
announces the appointment of Christopher Mills as a Non-Executive Director
with effect from 1 January 2025.

Mr Mills founded Harwood Capital Management in 2011, a successor to its former
parent company JO Hambro Capital Management, which he co-founded in 1993 and
of which he was formerly the Chief Investment Officer. He is currently the
Chief Executive Officer and Investment Manager of North Atlantic Smaller
Companies Investment Trust plc, a UK listed investment trust, and a
Non-Executive Director of several companies including Assetco plc, MJ Gleeson
plc, PRS REIT plc and Oryx International Growth Fund Limited.

Mr Mills has indicated that he will donate his director fees received from the
Company to the Harwood Charitable Trust, which provides educational support,
mainly for doctors in Africa.

As at the date of this announcement, funds managed by Harwood Capital
Management and its affiliates own 22.5 million shares in the Company.

The Board shares the frustration of many shareholders with the Company's
valuation, which it believes has not reflected the quality of the business and
its assets for some time. Mr Mills will support the Board on completing
existing initiatives, including the strategic review of Talc, and potentially
new initiatives to narrow the gap between the share price and the Company's
intrinsic value.

John O'Higgins, Chair of the Board of the Company, said:

"We welcome Christopher to the Board, and look forward to benefiting from his
track record of helping contribute to long term shareholder value creation."

The following information is disclosed in accordance with UKLR 6.4.8R(1) in
relation to Mr Mills:

 Current directorships*                                 Previous directorships in the past five years*
 Assetco plc                                            Augean plc
 Bigblu Broadband plc                                   Curtis Banks Group Limited
 Catalyst Media Group plc                               Gabelli Value Plus+ Trust plc
 EKF Diagnostics Holdings plc                           Goals Soccer Centres plc
 Frenkel Topping Group plc                              Sunlink Health Systems Inc
 MJ Gleeson Plc                                         Ten Entertainment Group plc
 North Atlantic Smaller Companies Investment Trust plc  Trellus Health plc
 Oryx International Growth Fund Limited                 Sureserve Group plc
 Renalytix plc                                          Hipgnosis Songs Fund Limited

 The PRS REIT plc

*other publicly quoted companies only

The Company confirms that there are no other matters requiring disclosure
pursuant to UKLR 6.4.8R (1) to (6) in respect of Mr Mills's appointment.

Enquiries

 

Elementis:

Anna Lawrence, Group General Counsel & Company Secretary:  020 8148 5966

Eva Hatfield, Head of Investor Relations:  07553 340380

 

Teneo:

 

Olivia Peters:  020 7353 4200

 

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