Activist investor Standard Investments has nearly halved its stake in Johnson Matthey, a British chemicals and sustainable technologies company.
The investor's total holding fell to 4.75% from a previously disclosed 9.52%, according to a regulatory filing on Wednesday.
The move follows a period of public pressure from Standard Investments, which in late 2024 urged the company to take steps to improve its value.
In response, Johnson Matthey in January detailed a transformation strategy focused on cost reduction, capital discipline, and increasing cash generation.
The company said at the time it was creating a new board investment committee to reinforce cash generation and disciplined capital deployment.
Johnson Matthey had also previously announced a 250 million British pound share buyback program in July 2024 to return value to shareholders.
Standard Investments' remaining position consists of a 1.77% holding in direct shares and 2.98% held through cash-settled equity swaps, the filing showed.
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