Response to Minerals Technologies Inc announcement

RNS Number : 2109I

Elementis PLC

10 December 2020

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

FOR IMMEDIATE RELEASE

10 December 2020

Response to Minerals Technologies Inc. no intention to bid statement

The Board of Elementis plc ("Elementis" or "the Company") notes the announcement made by Minerals Technologies Inc. ("Minerals Technologies") earlier today that it does not intend to make a firm offer for Elementis. As a result of the announcement, Minerals Technologies is bound by the restrictions contained in Rule 2.8 of the City Code on Takeovers and Mergers (the "Code").

Elementis has refocused its business and built strong market positions in its high margin specialist sectors with growth underpinned by our differentiated, high quality assets. Our focus continues to be on the successful delivery of the Innovation, Growth and Efficiency strategy and our medium term Group performance objectives. We are confident that delivery of our strategy will result in significant value creation for Elementis' shareholders.

We will provide an update on progress as part of our full year 2020 results.

Enquiries

Elementis plc  Investor Contact  James Curran	[phone]
Rothschild & Co  Ravi Gupta / Yuri Shakhmin	[phone]
J.P. Morgan Cazenove  Richard Perelman / Celia Murray	[phone]
Numis Securities Limited  Mark Lander / George Price	[phone]
Tulchan Communications  Martin Robinson / Olivia Peters	[phone]

Important notices

N.M. Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for Elementis and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Elementis for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.

J.P. Morgan Securities plc (which conducts its UK investment banking business as J.P. Morgan Cazenove) ("J.P. Morgan Cazenove") which is authorised in the United Kingdom by the PRA and regulated in the United Kingdom by the PRA and the FCA, is acting exclusively for Elementis and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters set out in this announcement and will not be responsible to anyone other than Elementis for providing the protections afforded to clients of J.P. Morgan Cazenove or its affiliates, nor for providing advice in relation to any matter referred to herein.

Numis Securities Limited ("Numis"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as Corporate Broker exclusively for Elementis and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters in this announcement and will not be responsible to anyone other than Elementis for providing the protections afforded to clients of Numis, nor for providing advice in relation to any matter referred to herein.

 

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