Covenant update

Elementis plc

Covenant update

Elementis plc ("Elementis" or the "Group"), a global specialty chemicals company, announces that the relaxation of the Group net debt/EBITDA* banking covenant to 3.75x, agreed in Q1 2020 as part of the Group's response to COVID-19, has now been extended to include the two testing points in 2021 (i.e. 30 June and 31 December). The arrangement costs are immaterial. 

Group trading in July and August was consistent with the trends outlined at the 2020 interim results on the 28 July and the Group is on track to deliver a significant reduction in net debt in the second half of 2020. A Q3 trading update is scheduled for 28 October.

Enquiries

Elementis plc

Ralph Hewins, CFO                                                                     Tel: 020 7067 2988

James Curran, Investor Relations                                             Tel: 020 7067 2994

Tulchan           

Martin Robinson                                                                         Tel: 020 7353 4200

David Allchurch

Note: *Pre IFRS 16

This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation. The person responsible for arranging the release of this announcement on behalf of Elementis plc is Laura Higgins, Company Secretary.