Elementis PLC has responded to an open letter from Gatemore Capital Management LLP, a 0.6% shareholder. The company's board believes that shareholder value is best driven by focusing on delivering substantial actions currently in progress throughout the business. These actions 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. They look forward to updating the market in their trading update alongside their AGM tomorrow. For further inquiries, Elementis plc has provided contact information for its CEO, CFO, and Head of Investor Relations, as well as a Teneo representative.
For more information, investors can visit the Elementis plc website and sign up for email alerts.