REG - Elementis PLC - Response to open letter from Gatemore

ElementisAnnouncement

29/04/2024 12:15

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RNS Number : 4331M  Elementis PLC  29 April 2024

London, 29 April 2024

Elementis plc

Response to open letter from Gatemore Capital Management LLP

The Board of Elementis plc (the "Company" or "Elementis") notes the open
letter published today from Gatemore Capital Management LLP ("Gatemore"), a
0.6% shareholder.

 

The Board continues to believe that shareholder value is best driven by a
focus on delivering the substantial actions that are currently being
progressed at pace throughout the business and that underpin progress towards
the 2026 targets of 19%+ operating margin, >90% cash conversion and >20%
return on capital, generated by $90m of above market revenue growth and $30m
cost savings.

 

The Board continues to engage with, and welcomes feedback from,  all
shareholders, with a clear focus on driving shareholder value, and looks
forward to updating the market in its trading update alongside its AGM
tomorrow.

 

Enquiries

Elementis plc

Paul Waterman, Chief Executive
Officer

Ralph Hewins, Chief Financial Officer

Eva Hatfield, Head of Investor
Relations
Tel: +44 7553 340 380

 

 

Teneo

Martin
Robinson
 
Tel: +44 (0) 20 7353 4200

Olivia
Peters
Email: elementis@teneo.com

 

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