2 Read about our approach to external linking. Kudrat Agrawal / Trainee, Edward Beighton / Trainee, Maddy Tomlin / Trainee, Sean Lee / Trainee, Xiwan Wei / Trainee, One Bunhill RowLondonEC1Y 8YYUnited Kingdom, 2906-2909 China World Office 2No.1 Jianguomenwai AvenueBeijing 100004China, 47th Floor, Jardine HouseOne Connaught Place, CentralHong KongChina, 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, Sustainability and Climate Change Resources, Modern Slavery Slavery and Human Trafficking Statement, Go to Financial Regulation Weekly Bulletin, Go to Sustainability and Climate Change Resources. Ten Scottish Newspapers are owned by three billionaires - The Ferret Rothermere Continuation Limited Acceptance level update The second precondition was cleared when the online used car seller Cazoo made its $6bn stock market debut in New York. The declaration reveals that "RCL is owned by a trust which is held for the benefit of Viscount Rothermere (the chairman of the DMGT) and his immediate family. Story . By 2001 a new Ferne House had been built in the grounds to a 40m design by renowned Palladian-style architect Quinlan Terry. The inclusion of a person or entity in the ICIJ Offshore Leaks Database is not intended to suggest or imply that they have engaged in illegal or improper conduct. Check if the Aggregate Amount in After the sale of the financial assets, RCL would bid about 810m for the. See 2(a) and 3 below (c) Name of offeror/offeree in relation to whose relevant securities this form relates: The main asset of RCL is its holding of DMGT Ordinary Shares. The offer for the residual businesses is substantially below what we believe is a fair and reasonable valuation, said Chris Field, fund manager at MAM. Sc 13d/A The reporting person is the beneficial owner of 44,898,183 shares of the Issuers Ordinary Shares One change he has instituted since becoming chairman is requiring directors to retire at age 75. Combined with the 255p a share offer, the overall deal to take DMGT private is 3.1bn. In accordance with the provisions of General Instruction C to Schedule 13D, who owns rothermere continuation limited. of the DMGT ordinary shares and the remaining DMGT ordinary shares are legally held by the Trust Company as nominee for Rothermere. 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? The BBC is not responsible for the content of external sites. General Register Office of England and Wales, Marriages, September quarter 1993, Westminster, Vol 15, page 1798. In a stock market announcement on Monday, the group said Rothermeres Jersey-registered holding company Rothermere Continuation Ltd (RCL) was considering a bid of 251p a share, valuing the group at about 810m. Rothermere family offers 3.1bn to take Daily Mail owner private DMG Media - Wikipedia Daily Mail and General Trust has been reorganising the business through disposals and targeted acquisitions. It was, however, small when compared to the Viscount Rothermeres net worth. On December 2, 2021, Rothermere formally made an increased offer for those same shares . out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent Shares, par value $0.0001 of Cazoo Group Ltd. beneficially owned by them from time to time. the Notes). By living as a tax exile in Paris for most of his life, the 3rd Viscount had become non-domiciled for British tax purposes. the Control Persons), are: Trust 1 is a Control Person with respect to The Trust 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 owner of Britain's Daily Mail said on Tuesday it was close to agreeing a deal with its pension trustees that could see Rothermere Continuation Ltd pay them roughly 400 million pounds ($546 . Filing Agreement as an exhibit to such statement, as required by such rule. 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). DMGT reduces its stake in Euromoney Institutional Investor PLC from 67% to c.49%. be terminated by any of the Filers upon one weeks prior written notice or such lesser period of notice as the Filers may mutually [9], The BBC's Newsnight programme at the end of January 2017 reported that former prime minister David Cameron had approached Lord Rothermere to sack Eurosceptic Paul Dacre, the editor of the Daily Mail in the run up to the 2016 EU membership referendum. Boris Johnson weighs offers for his return to journalism, Daily Mail out to stop traitor Sunak as Tory rivals vie for press backing, Nils Pratley on the plans to take Daily Mail news group private, bought the New Scientist magazine in a 70m deal in March. Prior to Rothermeres acquisition of the shares in DMGT not already They wrote: Back in 1999 the young chairman of the Daily Mail and General Trust, the 4th Viscount Rothermere, aka Jonathan Harmsworth, bought a 220-acre estate called Ferne Park as home for his family, then comprising wife Claudia and two children under six. executive offices at 41 Chalton Street, London, NW1 1JD, United Kingdom. distributed on December 30, 2021). DMGTs share price closed up about 3.5% after news of the potential buyout was announced on Monday, at 10.76. RCL is owned by a trust (Trust) which is held for the benefit of Lord Rothermere and his immediate family. This ICIJ database contains information on more than 810,000 offshore entities that are part of the Pandora Papers, Paradise Papers, Bahamas Leaks, Panama Papers and Offshore Leaks investigations. to file with the United States Securities and Exchange Commission a statement on Schedule 13G and/or 13D with respect to the Class A Ordinary It would include an injection of about . On November 3, 2021, Rothermere formally made an offer to the other shareholders of DMGT to I am a private investor* I am not a private investor I am not a private investor The Special Dividend was declared by DMGT in You can also SUBSCRIBE TO OUR NEWSLETTER . Khans letter to Patel claiming report into Cressida Dicks departure is clearly biased, Race report: I feel like my experiences have been erased and my hardships minimised, Action needed to stop billionaires plundering the planet placing us all in ever graver peril, Shapps would rather have food shortages than EU drivers, Nothing left to cut back on: Disabled uni graduate choosing between eating or heating, Music Recommendations: Assembling your Perfect Rec-ing Crew, Tory Councillor suspended for sharing racist joke on social media, Dozens of flights affected after air traffic control problem at Gatwick Airport, His confidence is through the roof Ex Liverpool man on Everton star, Group abuse people having picnic in park during far-right demonstrations. The Rothermere family has agreed to pay 255p a share for Daily Mail and General Trust (DMGT) plus debts, an increase on a 251p - or 810m - offer made in July. 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. Ten of Scotland's major newspapers are owned by just three men: Rupert Murdoch, Lord Rothermere and Frederick Barclay. Daily Mail owner close to deal with pension trustees over Rothermere offer business. The Trust Company was incorporated in the British Persons is 35-37 New Street, St Helier, Jersey JE2 3RA. the increased offer were satisfied in due course, including the declaration of the Special Dividend, in Row (11), Type of Reporting Person (See Instructions). The Right Honourable Jonathan Harold Esmond Vere Viscount The Fourth Viscount Rothermere, Jonathan Harmsworth appointed DMGT Chairman. written. a Group (See Instructions) (a) o(b) o, Check if disclosure of legal proceedings The Daily Mail was first. 2021 Associated Newspapers Limited. Rothermere. Asked why politicians wanted to meet him, he said they "sometimes feel the paper's been hard on them" and asked him to "have some sort of influence". Final Offer becomes unconditional in all respects - InvestEgate View our Privacy PolicyandTerms & Conditions, TheLondonEconomic.com Open, accessible and accountable news, sport, culture and lifestyle. [8] In April 2015, The Sunday Times estimated his net worth at 1 billion. Company. . 1 acquire from them those shares in DMGT not already beneficially owned by Rothermere. business of which is being the holding company of Daily Mail and General Trust plc (DMGT), a media and entertainment On Wednesday, DMGT said that shareholders will also receive a 568p a share special dividend, a 17.3p a share final dividend and 0.58 shares in Cazoo, worth a total of 2.28bn. Contracts, Arrangements, Understandings The Daily Mail was first. All conditions for 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 . 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. Source and Amount of Funds or Other Rothermere Continuation Limited. 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.
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