The recommended offer comes after the completion of a number of pre-conditions that were specified in RCLs July approach; the 1.4bn sale of DMGTs insurance risk division, the float of online car retailer Cazoo via a merger with SPAC Ajax I on the New York Stock Exchange and the reaching of a settlement with DMGTs pension scheme trustees. It means that the deal is not at risk of facing opposition if a deal is put to a shareholder vote. [12], Rothermere married Claudia DeVriese, daughter of Terence J. Clemence, on 15 July 1993. The address of the principal business office of each of the Reporting Persons and the Control Consequently, DMGT shareholders will also receive a special dividend of 991p per share and a final dividend worth 17.3p a share, bringing the total value of the offer and investor payouts to 12.63 a share, just over 3bn including debts. The records cover more than 80 years up to 2020 and link to people and companies in more than 200 countries and territories. They are all billionaires who, personally or through their businesses, have used the law to avoid paying tax. The Market Tracker product also includes news and analysis of key corporate deals and activity and in-depth analysis of recent trends in corporate transactions. or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see The Reporting Persons acquired Hancock WhatsApp leaks: Dominic Cummings branded a f*****g piece of s**t, Rees-Mogg nears contempt of Parliament in tense clash with C4 host, How can anyone trust you? position, change their purpose, take other actions or formulate and implement plans or proposals with respect to any of the foregoing. The move means that Paul Zwillenberg, DMGT's CEO, who has run the group since 2016, will be stepping down from both the Board and his role as Group CEO on 30 September. The data comes directly from the leaked files ICIJ has received in connection with various investigations and each dataset encompasses a defined time period specified in the database. Metro is launched as a free newspaper serving urban markets across the UK. Esmond Harmsworth, son of Harold Harmsworth and the second Viscount Rothermere appointed DMGT Chairman. Like Mr Dacre, he told the inquiry there had been no phone hacking by journalists at the company's papers, and argued that self-regulation "protects the press from political interference". The move means that Paul Zwillenberg, DMGT's CEO, who has run the group since 2016, will be stepping down from both the Board and his role as Group CEO on 30 September. Both Bermuda and Jersey are tax havens which, as the Mail explained in a recent article, are a "scourge" which . On November 3, 2021, Rothermere formally made an offer to the other shareholders of DMGT to Jonathan Harold Esmond Vere Harmsworth, 4th Viscount Rothermere (born 3 December 1967), is a British peer and inheritor of a newspaper and media empire founded by his great-grandfather Harold Sidney Harmsworth, 1st Viscount Rothermere. If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. Isabel Oakeshott HANGS UP on interviewer, Ambulance strikes suspended by GMB and Unison, Revealed: The Extent of the Daily Mails Support for the British Union of Fascists, Elevenses: Fear and Loathing in the New Conservatives. to Receive include a signed original and five copies of the schedule, including all exhibits. Rothermere Continuation Limited's Acquisition Of The A Ordinary Shares In Daily Mail and General Trust plc November 6, 2021 Giulia Di Palma Tagged: Aimee Carroll-Hewitt Ashurst Karen Davies Lazard Theo Palmer Tim Rennie Daily Mail and General Trust Rothermere Continuation Limited Recent Work Slaughter and May is advising Daily Mail and General Trust plc on the 3.1bn reorganisation of DMGT, comprising a recommended cash offer by RCL and a proposed distribution to all shareholders 3 Nov 2021 1998 Metro Metro is launched as a free newspaper serving urban markets across the UK. All conditions for This website is for Private Investors* only. Rothermere. It follows negotiations between DMGT, Rothermere Continuation Limited (RCL) and pension trustees, with the company agreeing to inject 412m into its various pension schemes as part of the offer. of the Ordinary Shares was acquired as part of the Special Dividend (as defined below) which was declared pro rata to all of the Journalism in Britain is under threat. Under British takeover rules, the Rothermeres have until Nov. 25 to make a firm offer to buy DMGT via their vehicle Rothermere Continuation Ltd or walk away. Rothermere Continuation Limited (RCL) is a holding company incorporated in Bermuda. DMGT acquires Risk Management Solutions, a fast-growing business in the emerging catastrophe risk modelling sector. Significant shareholder Majedie Asset Management, which holds a 4.63% stake in DMGT is reportedly against the takeover on the basis that the offer undervalues the company. Trust 2 is a British Virgin Islands law trust Rothermere Continuation Ltd is the vehicle of DMGT's biggest shareholder Jonathan Harmsworth, Viscount. News of the firm approach saw DMGT shares close at 11.22, a 3% increase to the 10.90 that shares closed at on 2 November 2021. Jonathan Harold Esmond Vere Harmsworth, 4th Viscount Rothermere (born 3 December 1967), is a British peer and inheritor of a newspaper and media empire founded by his great-grandfather Harold Sidney Harmsworth, 1st Viscount Rothermere. Jonathan Harmsworth, better known as Lord Rothermere, is the chairman of Daily Mail and General Trust (DMGT), which owns newspapers including the Daily Mail, the Mail on Sunday and Metro. Mr Miliband said the apology was not enough and said Lord Rothermere must investigate the "culture and practices" of journalists at his newspapers. It comes after DMGT and Rothermere Continuation Limited (RCL) reached agreement with trustees of the firm's pension funds, which will see Lord Rothermere inject 412 million into the schemes. It emerged that in December 2006 he had pledged 8m DMGT shares he owned through a trust and DMGTs Bermudan parent company Rothermere Continuation Ltd. At the time these were worth more than 50m, though DMGTs announcement of the arrangement stated that this greatly exceeded the value of the loans. . It would give RCL at least 500m, and would probably help fund any takeover offer for the what remains of the newspaper group. DMGT acquires Hobsons, a UK-based B2B publishing business. the British Virgin Islands; and. The Rothermere family will offer shareholders 255p a share for DMGT plus debts, a higher price than the 251p a share they initially proposed in July. He set up the Daily Mail with his brother Alfred in 1896, and subsequently launched the Daily Mirror. One change he has instituted since becoming chairman is requiring directors to retire at age 75. The publisher of the Daily Mail has been reorganising the business through disposals and targeted acquisitions of its own in recent years, having bought the New Scientist magazine in a 70m deal in March, as well as the i newspaper in a 49.6m deal two years ago. Person and, collectively, the Reporting Persons): Rothermere Continuation Limited (Rothermere), a private limited company organized under Prior to Rothermeres acquisition of the shares in DMGT not already Updated 9th Feb 2020 with more on Richard Drax and Viscount Rothermere.. Dorset is, I think, the loveliest and most intriguing of English counties: a place of ancient chalk downland that sprouts orchids and chalk figures . The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations. We give you the access and tools to invest like a Wall Street money manager at a Main Street price. All rights reserved. the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. LIMIT THE USE OF MY SENSITIVE PERSONAL INFORMATION. executive offices at 41 Chalton Street, London, NW1 1JD, United Kingdom. Rothermere Continuation Trust (Trust 2), a discretionary trust organized under the laws of The sale of RMS and the Cazoo initial public offering have delivered excellent shareholder returns, but inevitably DMGT is now a considerably smaller group of businesses, with significantly greater exposure to consumer media, said Jonathan Harmsworth, the fourth Viscount Rothermere, who is the chair of DMGT. On 12 July 2021, Daily Mail and General Trust plc (DMGT) announced that Rothermere Continuation Limited (RCL), a Bermuda registered company owned by a trust held for the benefit of Viscount Rothermere and his immediate family (DMGT's controlling shareholder), would be prepared to make a possible offer for the entire issued and to be issued share capital of DMGT should certain transactions . By 2001 a new Ferne House had been built in the grounds to a 40m design by renowned Palladian-style architect Quinlan Terry. beneficially owned by it, Rothermere beneficially owned (and continues to own) all of the DMGT ordinary shares. The Trust Company is a special purpose entity, the principal business of which is the management of Rothermere Continuation Limited ("Rothermere"), a private limited company organized under the laws of Jersey; and (ii) Harmsworth Trust Company (PTC) Limited ("Trust Company"), a private trust company organized under the laws of the British Virgin Islands. The Special Dividend comprises cash and the shares DMGT owns in NYSE-listed Cazoo Group Limited. A multinational group, DMGT's operations extend far beyond journalism and include risk management, events and ownership of brands such as Wowcher and property website Zoopla. "[5], In 2013, Private Eye reported that the non-dom status could be in doubt because of his stately home, Ferne House in Wiltshire, and status as a Freeman of the City of London. You can download a raw copy of the database here. who owns rothermere continuation limited. Last month, under a regulatory amnesty following the well-publicised failure of Carphone Warehouse boss and Tory backer David Ross to declare his use of shares as security for personal loans, Rothermere came clean on his own similar arrangements. The Daily Mail was first. Public records show Infosys has received more than 50 million in UK public sector contracts since 2015 with Labour arguing Sunak should have registered an interest in the firm because of his wifes involvement. assets on behalf of Viscount Rothermere and his immediate family. [13] They have five children:[citation needed], In 2002, The Guardian reported that Rothermere had fathered at least one more child prior to his marriage. Filing Agreement as an exhibit to such statement, as required by such rule. Daily Mail owner Daily Mail and General Trust (DMGT) exited the London market in January this year, following a successful privatisation push by the Rothermere family. Daily Mail owner Daily Mail and General Trust (DMGT) exited the London market in January this year, following a successful privatisation push by the Rothermere family. His great-grandfather, Harold Sidney Harmsworth, set up the Daily Mail along with his brother in the late 19th Century and was made the first Viscount Rothermere in 1919. Brothers Alfred and Harold Harmsworth edit, produce and oversee the launch of the Daily Mail. The reporting person is the beneficial owner of 1,437,250 shares of the Issuers Ordinary Shares (as An earlier version incorrectly said RCL was registered in Bermuda; the company is in fact administered in Jersey. Shadow justice secretary Steve Reed told the Today programme he absolutely believed Sunak had broken the ministerial code as theres a whole list of areas where the Chancellor appears to have failed to declare things he should have declared. Note: Schedules filed in paper format shall A few days later Lord Rothermere wrote to Mr Miliband to apologise "unreservedly" after a Mail on Sunday journalist arrived uninvited at a memorial service for his uncle, seeking information. It would include an injection of about . Majedie Asset Management, one of DMGTs largest shareholders controlling 4.6% of the companys class A shares, said that the business is worth at least twice the price offered. The publisher of the Daily Mail has been reorganising the business through disposals and targeted acquisitions of its own in recent years, having bought the New Scientist magazine in a 70m deal in March, as well as the i newspaper in a 49.6m deal two years ago. digitGaps report on Rothermere Continuation Limited delivers a detailed in-depth and comprehensive insights of the company, its history, corporate strategy, its businesses and structures, and company operations by examining its performance in local market and global economy. Item 7. The company has made 1.2bn from disposals in recent years of its stake in the property portal Zoopla, the education business Hobsons and the energy data firm Genscape. Trust 2 is a Control Person with respect to Rothermere. This has led RCL and the DMGT board to decide to implement a major reorganisation of the group by distributing the value created by the RMS sale and the Cazoo IPO in conjunction with the offer., He added: We believe the terms of our offer to be fair, particularly bearing in mind not only the existing level of debt within DMGT at a time of increasingly difficult market conditions, but also the restrictions imposed on the operation of the business as part of the settlement with the pension trustees.. See Rule 13d-7 for other parties to whom copies are Lord Rothermere, the biggest shareholder in the owner of the Daily Mail, has agreed an 850m buyout that will see the group taken private after 89 years on the stock market. While discussions are ongoing and there can be no certainty that a transaction will result . in the Issuer. DMGT acquires Genscape, an energy information business. 760,872,476 outstanding shares of Ordinary Shares of the Issuer, based on information received from the Issuer prior to filing. Slaughter and May is advising Daily Mail and General Trust plc (DMGT) on the reorganisation of DMGT, which comprises a cash offer by Rothermere Continuation Limited (RCL) for all the non-voting shares in DMGT (DMGT A Shares) not already owned by RCL (the Offer), and a proposed special distribution to all shareholders of DMGT (the Special Dividend). 3: . involving the Issuer, which occurred on August 26, 2021. (Alliance News) - Rothemere Continuation Ltd is close to inking a deal with trustees of Daily Mail & General Trust PLC, which marks the final obstacle to the company's takeover of the London-based . Please contact us if you find an error in the database. Story . A few years ago Ian Hislop went on a rant on Have I Got News For You after the Mail did a piece on Ed Milibands father claiming he was the man who hated Britain.. Ashurst advises the trustees in relation to the sale of ordinary voting shares in the Daily Mail & General Trust plc to Rothermere Continuation Limited | Ashurst People We bring together lawyers of the highest calibre; progressive thinkers driven by the desire to help our clients achieve business success. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism. According to the takeover documentation, the reduced cash payable under the special dividend in the firm offer is due to shareholders being offered a greater number of Cazoo shares and the additional contributions that will be made to DMGT pension schemes. The aristocrat is mulling. Rothermere is the legal owner of most See 2(a) and 3 below (c) Name of offeror/offeree in relation to whose relevant securities this form relates: Notices and Communications), (Date of Event Which Requires Filing of this Statement), If the filing person has previously filed a statement matters. Boris Johnson weighs offers for his return to journalism, Daily Mail out to stop traitor Sunak as Tory rivals vie for press backing, bought the New Scientist magazine in a 70m deal in March. General Register Office of England and Wales, Marriages, September quarter 1993, Westminster, Vol 15, page 1798. Item 3. DMGTs share price closed up about 3.5% after news of the potential buyout was announced on Monday, at 10.76. It comes after DMGT and Rothermere Continuation Limited (RCL) reached agreement with trustees of the firm's pension funds, which will see Lord Rothermere inject 412 million into the schemes. on Schedule 13G and/or 13D (and any amendments thereto) on behalf of each of such parties, and hereby further agree to file this Joint Many people and entities have the same or similar names. The Right Honourable Jonathan Harold Esmond Vere Viscount 1 Level of acceptances and interests in relevant securities. FORM 8 (OPD) PUBLIC OPENING POSITION DISCLOSURE BY A PARTY TO AN OFFER Rules 8.1 and 8.2 of the Takeover Code (the "Code") 1. the Notes). securities laws or finding any violation with respect to such laws. Early Termination Updates by email. The Trust Company holds Ordinary Shares on behalf of Rothermere because it received these Jonathan Harmsworth, better known as Lord Rothermere, is the chairman of Daily Mail and General Trust (DMGT), which owns newspapers including the Daily Mail, the Mail on Sunday and Metro. The ICIJ Offshore Leaks Database is licensed under the Open Database License and contents under Creative Commons Attribution-ShareAlike license. to be sent. General Register Office of England and Wales, Births, Register number A65C, Entry number 255, Westminster. The Jonathan Harmsworth, known as Lord Rothermere and the great-grandson of the newspaper's founder, is already the firm's controlling shareholder through his family trust. The main asset of RCL is its holding of DMGT Ordinary Shares. 240.13d-1(f) or 240.13d-1(g), check the following box. Row (11) Excludes Certain Shares (See Instructions) o. on Schedule13G to report the acquisition that is the subject of this Schedule13D, and is filing this schedule because of 240.13d-1(e), Harold Harmsworth made the Mail a very popular newspaper, but has been criticised for supporting Adolf Hitler as the Nazi party rose to power in Germany. The group owns i, which has complete editorial independence, and also recently acquired New Scientist. The current Lord Rothermeres father loved Great Britain so much he went to live in France as a tax exile. The Rothermere family has made an offer to take the publisher of the Daily Mail, i and Metro private in a 3.1bn deal, in a move that will end a 90-year run as a publicly listed company on the London Stock Exchange. herewith). Daily Mail seeks to delay court allegations of high-profile breaches of privacy, Ex-Lib Dem MP Simon Hughes makes phone-hacking claim against Daily Mail owner, Labour MP calls for Paul Dacre peerage to be delayed, Legal action by Doreen Lawrence and Prince Harry could mire Daily Mail for years, Doreen Lawrence, Prince Harry and others launch legal action against Daily Mail publisher, Lord Rothermere takes over as chief executive of Daily Mail owner, Daily Mail Australia to appeal Erin Molans win in defamation case over racism accusations, Erin Molan awarded $150,000 damages after winning defamation case against Daily Mail Australia, Daily Mail calling?
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