LONDON (dpa-AFX) - Elementis Plc (ELM.L) said, up to 18 March 2020, the Group has experienced a solid start to the year with limited impact on production and demand from COVID-19. Trading and performance has been in line with the Group's expectations.
However, the Group will be taking steps to mitigate any potential material adverse financial impact. Elementis has secured a relaxation of its banking covenants from 3.25x to 3.75x net debt/EBITDA. This will apply for two testing periods. Also, the 2019 final dividend of 4.4487 pence per share will no longer be proposed at the AGM on 29 April 2020.
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