Christopher Mills will work closely with the Board of Elementis to address the Company’s undervaluation and enhance shareholder value.
Elementis has recently appointed Christopher Mills as a Non-Executive Director, with effect from 1st January 2025.
"We welcome Christopher to the Board, and look forward to benefiting from his track record of helping contribute to long term shareholder value creation,” has stated John O'Higgins, Chair of the Board of the Company.
Christopher Mills founded Harwood Capital Management in 2011 as a successor to JO Hambro Capital Management, where he was a co-founder in 1993 and previously served as Chief Investment Officer. He currently serves as Chief Executive Officer and Investment Manager of North Atlantic Smaller Companies Investment Trust plc, a UK-listed investment trust, and holds Non-Executive Director positions at several companies, including Assetco plc, MJ Gleeson plc, PRS REIT plc, and Oryx International Growth Fund Limited.
Moreover, Christopher Mills has committed to donating his director fees from the Company to the Harwood Charitable Trust, which focuses on providing educational support, particularly for doctors in Africa. As of this announcement, funds managed by Harwood Capital Management and its affiliates hold 22.5 million shares in the Company.
The Board recognises the ongoing concerns of shareholders regarding the Company’s valuation, which it believes does not fully reflect the quality of its business and assets. Christopher Mills will collaborate with the Board to finalise ongoing initiatives, such as the strategic review of Talc, and explore potential new measures to bridge the gap between the Company’s share price and its intrinsic value.