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
The PRS REIT plc
|
Hipgnosis Songs Fund
Limited
|
*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