Elementis (ELM)

Sector:

Industrial Chemicals

Index:

FTSE 250

162.60p
   
  • Change Today:
    -2.60p
  • 52 Week High: 176.60p
  • 52 Week Low: 115.00p
  • Currency: UK Pounds
  • Shares Issued: 579.61m
  • Volume: 558,009
  • Market Cap: £942.44m
  • RiskGrade: 191

Elementis shareholder Gatemore calls for strategic review

By Michele Maatouk

Date: Tuesday 25 Jun 2024

LONDON (ShareCast) - (Sharecast News) - Elementis shareholder Gatemore Capital Management said on Tuesday that if the company does not launch a strategic review, accelerate its cost-savings programme and replace its chief executive, it may seek to oust the chairman.
In its second public letter to Elementis, Gatemore also said the company should consider a potential disposal of the talc business. All these measures, it said, are "essential" to improving performance and unlocking shareholder value.

"The time is now for the board to take immediate and decisive actions to address these governance concerns and realign the company's strategy with the interests of its shareholders. We have engaged with many of the largest active shareholders of Elementis and believe there is unity on all these issues," it said.

"We strongly urge you and the board to take prompt and decisive action. Failing this, we may be compelled to unite the shareholders and pursue the replacement of the chairman through an Extraordinary General Meeting to drive the necessary change within Elementis."

Gatemore holds around 4.5 million shares in Elementis.

Russ Mould, investment director at AJ Bell, said: "Activist investors often like to negotiate behind closed doors. Private conversations can give the impression they are being helpful and respectful. It's only when the target refuses to engage or bats them away that activist investors resort to going public with their criticisms and demands.

"That seems to be the case with Gatemore Capital which has published its second public letter spelling out what it wants chemicals group Elementis to do.

"Its latest letter contains the threat that Gatemore might call for an emergency shareholder meeting to oust Elementis' chairman. Despite the muted market reaction to the letter, it appears that Gatemore's patience is running out and it is going to turn increasingly hostile to enact change."

At 1405 BST, the shares were down 0.3% at 148.20p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Elementis Market Data

Currency UK Pounds
Share Price 162.60p
Change Today -2.60p
% Change -1.57 %
52 Week High 176.60p
52 Week Low 115.00p
Volume 558,009
Shares Issued 579.61m
Market Cap £942.44m
RiskGrade 191

Elementis Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
86.57% below the market average86.57% below the market average86.57% below the market average86.57% below the market average86.57% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
56.57% above the market average56.57% above the market average56.57% above the market average56.57% above the market average56.57% above the market average
42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average
Income
70.95% below the market average70.95% below the market average70.95% below the market average70.95% below the market average70.95% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
7.29% above the market average7.29% above the market average7.29% above the market average7.29% above the market average7.29% above the market average
57.14% above the sector average57.14% above the sector average57.14% above the sector average57.14% above the sector average57.14% above the sector average

What The Brokers Say

Strong Buy 4
Buy 1
Neutral 2
Sell 0
Strong Sell 0
Total 7
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Elementis Dividends

  Latest Previous
  Interim Final
Ex-Div 14-Aug-25 01-May-25
Paid 26-Sep-25 30-May-25
Amount 1.30¢ 2.90¢

Trades for 29-Aug-2025

Time Volume / Share Price
16:35 199,879 @ 162.60p
16:35 2,396 @ 162.60p
16:35 32 @ 162.60p
16:35 4,152 @ 162.60p
16:35 3,607 @ 162.60p

Elementis Key Personnel

CEO Luc van Ravenstein

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