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Activist fund manager Gatemore, which specialises in UK small and mid cap investments, has gone on the warpath, with an open letter critical of the management of chemicals company Elementis [LON:ELM]. This follows a previous private letter to management and conversations with the board. Gatemore seems most concerned about the weak share price of Elementis. Note however that Elementis stock is up 15% over the past 12 months and over 10% YTD.
Fund manager Gatemore Capital Management is pushing for a seat on the board of Slough-based logistics firm DX Group (AIM:DX) following a 36% YTD drop in the company’s share price. Gatemore owns 20.5% of DX Group, which it regards as a standout performer in its field, but says it has been “deeply disappointed” by recent failures by the DX board.
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