who owns rothermere continuation limited

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. The The Offer has been recommended by the non-conflicted directors of DMGT. DMGT has issued a bond that is owned by fixed income investors. Why is Lord Rothermere taking Daily Mail and General Trust private? DMGT distributes its c.49% stake in Euromoney Institutional Investor PLC and 200m cash to shareholders. DMGT participates in the successful Zoopla Property Group IPO and sells 40% of its stake. In addition, RCL has agreed that DMGT should recommend for approval, in accordance with its existing dividend policy, a final dividend in respect of FY 2021 (the 2021 Proposed Final Dividend). DMGT sells its remaining stake in the company. Rothermere is also a special purpose entity, the principal The reporting person is the beneficial owner of 44,898,183 shares of the Issuers Ordinary Shares Viscount Rothermere is also on the board of 7 other companies. Lord Rothermere ups offer to take Mail, Metro and i publisher DMGT private By Charlotte Tobitt Lord Rothermere has increased his offer to take DMGT private after some investors felt he was. dmg events is formed (under a different name) to manage and develop a portfolio of events assets. to a judgment, decree of final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state 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". i' s parent company DMGT has agreed to an 850m buyout by its biggest shareholder and chairman Lord Rothermere, taking the firm private after 89 years on the London Stock Exchange. Exhibit 1 Joint The Daily Mail is owned by billionaire, Jonathan Harmsworth (DMGT Media), 4th Viscount Rothermere, great-grandson of it's founder, Harold Sidney Harmsworth who was close friends with Benito Mussolini and Adolf Hitler. Daily Mail owner, DMGT, is close to agreeing a deal with Rothermere Continuation Limited that would see approximately 400m injected into the firm's pension schemes. DMGTs pension scheme trustees may be the first to input in a takeover in Q4 2021, but they are certainly not the first this year, with Q3 2021 seeing pension scheme trustees involved in the bids for Morrisons and Ultra Electronics (see: Market Tracker Trend Report: Trends in Public M&A in Q3 2021 and Practice Note: Pension issues on a takeoverTakeover Code requirements (a subscription to LexisPSL Corporate is required)). One change he has instituted since becoming chairman is requiring directors to retire at age 75. [11], Lord Rothermere chairs the Imperial War Museum foundation, following the tradition set by his great grandfather, the first Viscount. Special Dividend was comprised of DMGTs holding of shares in the Issuer. General Register Office of England and Wales, Births, Register number A65C, Entry number 255, Westminster. ROTHERMERE CONTINUATION LIMITED Company Number EXTUID_22647 Native Company Number 41260 Status Live Incorporation Date 7 July 1988 (over 34 years ago) Company Type RC - Registered Private Company Jurisdiction Jersey Registered Address 35-37 New Street St Helier Jersey JE2 3RA Jersey Previous Names BLACKSEA HOLDINGS LIMITED According to the International Business Times: "The Daily Mail owner did not deny claiming tax concessions as "non-dom", though he insisted this was because his father had lived in France. 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. any time and from time to time, to acquire additional Ordinary Shares or other securities of the Issuer, dispose of some or all of the Contact Info. For a trust, the trustee(s), settlor and beneficiaries must be named. in Row (11), Type of Reporting Person (See Instructions). In an article on Lord Rothermere, the Guardian's Roy Greenslade wrote that he "has laboured for years under the impression that Daily Mail editor Paul Dacre is some kind of irreplaceable journalistic genius". To donate or subscribe to The London Economic, click here. Viscount Rothermere currently serves on Rothermere Continuation Limited. 2: Check the Appropriate Box if a Member of a Group (See Instructions) (a) o (b) o. DMGT acquires Landmark, a UK business that provides services to help reduce the risk associated with commercial and residential property transactions. Issuer owned by DMGT) being declared by DMGT (the Special Dividend), the settlement of which 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. 1 Level of acceptances and interests in relevant securities. In evidence to the Leveson Inquiry into press culture, practice and ethics, he stated his role was not to "operationally manage" the company. in a criminal proceeding (excluding traffic violations or similar misdemeanors). On November 3, 2021, Rothermere formally made an offer to the other shareholders of DMGT to Start sales research here. However, if a deal is completed, the sale would take place in the third quarter of 2021, said the company, which owns the British newspaper, the Daily Mail. The current Lord Rothermere, whose father and grandfather were both chairmen of DMGT, has a history degree from Duke University in the US and was managing director of the Evening Standard before taking his current role. RCL owns around. Read about our approach to external linking. The family, which founded the Daily Mail in 1896 and listed parent company Daily Mail and General Trust in 1932, has tabled a 255p per share offer valuing the newspaper business at 850m including debt. in Jersey. Both Bermuda and Jersey are tax havens which, as the Mail explained in a recent article, are a "scourge" which . In accordance with the provisions of General Instruction C to Schedule 13D, Fourth-generation principal Jonathan Harmsworth (pictured), 54, is the 4th Viscount Rothermere, chairman of the DMGT and the holder of a 36% stake in the trust. 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When DMGT is taken private it will leave Reach the parent company of the Mirror, Express and Star national titles, and regional publications such as the Manchester Evening News as the only major UK newspaper group remaining as a publicly listed company on the London Stock Exchange. Majedie Asset Management, an investor in DMGT with a 4.5% stake, said that Rothermere's revised offer was still not generous enough and has urged shareholders not to accept it. Together, the Trust The Rothermere family already own just over a third of DMGT and 100% of the company's voting rights. The Daily Mail was first. [18], Jonathan Harmsworth, 4th Viscount Rothermere. You can also SUBSCRIBE TO OUR NEWSLETTER . Daily Mail and General Trust has been reorganising the business through disposals and targeted acquisitions. Our mission is to hold the powerful to account. business of which is being the holding company of Daily Mail and General Trust plc (DMGT), a media and entertainment He provided Lord Leveson with details of numerous lunches and dinners with politicians including Tony Blair, Gordon Brown, David Cameron and Nick Clegg. Rothermere Continuation Limited (RCL) offers to acquire all of the DMGT shares that it does not already own. share (the Ordinary Shares), of Cazoo Group Ltd, a Cayman Islands exempted company (the Issuer), with principal Ten of Scotland's major newspapers are owned by just three men: Rupert Murdoch, Lord Rothermere and Frederick Barclay. The potential agreement with the pension trustees of DMGT's three schemes could pave the way for a buyout of the company by Rothermere, which would see it move to . 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. Market Tracker will continue to monitor this transaction as it develops. 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. RCL already has a 30% stake in the group which also owns the Metro and i newspaper titles and holds all of the vote-bearing shares in DMGTs two-tier stock structure. The offer represents a 21.5% premium to the closing price of DMGT shares on 9 July 2021 (the last business day prior to announcement of the possible offer). 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 . On December 2, 2021, Rothermere formally made an increased offer for those same shares . Lord Rothermere, executive chairman of RCL said of the deal: 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.. acquire from them those shares in DMGT not already beneficially owned by Rothermere. 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. or utilizing specific pricing or other instructions (including by means of Rule10b5-1programs), and review or reconsider their Rothermere Declaration of Trust, a discretionary trust organized under the laws of Jersey (Trust Both RCL and the trust are administered in Jersey, in the Channel Islands". 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. Read about our approach to external linking. herewith). be terminated by any of the Filers upon one weeks prior written notice or such lesser period of notice as the Filers may mutually ", "Private Eye Street of Shame: Rothermere's patriot games", "The end of the affair: Dacre moves towards Cameron", "Barclay brothers named richest media figures in UK with 2.3bn fortune", "BBC: David Cameron tried to get Paul Dacre sacked as Daily Mail editor because of his Eurosceptic stance", "David Cameron 'asked Daily Mail owner to sack Paul Dacre over Brexit', contributions in Parliament by the Viscount Harmsworth, https://en.wikipedia.org/w/index.php?title=Jonathan_Harmsworth,_4th_Viscount_Rothermere&oldid=1138827522, Vere Richard Jonathan Harold (b. November 1994), Eleanor Patricia Margaret (b. November 1996), This page was last edited on 11 February 2023, at 21:23. Rothermere is the legal owner of most Source and Amount of Funds or Other The Third Viscount Rothermere, Vere Harmsworth, appointed DMGT Chairman. to be sent. The Offer was announced on 3 November 2021, and it is expected to become or be declared unconditional on 16 December 2021. Entity: ROTHERMERE CONTINUATION LIMITED Registered in: Bermuda Linked countries: Bermuda Agent: Appleby Search in: Appleby data is current through 2014 read more Incorporated: 01-APR-2013 Connections: Linkurious and Neo4j Officer (14) Intermediary (1) Address (2) Explore more from Paradise Papers Appleby The power players Lord Rothermere was educated at Gordonstoun School and Duke University.[2]. He said he tried to "protect the independence" of editorial staff, and said Daily Mail editor Paul Dacre ensured the paper "reflects the views of his readership" - which he agreed were accurately described as "the values of Middle England". Ordinary Shares or other securities of the Issuer that it may own from time to time, in each case in open market or private transactions, This article was amended on 14 July 2021. This Schedule 13D is being filed by and on behalf of each of the following persons (each, a Reporting The Right Honourable Jonathan Harold Esmond Vere Viscount Lord Rothermere is already the controlling shareholder of DMGT through a 28% stake owned by his family trust, RCL. But we can't do it without you. DMGT acquires Risk Management Solutions, a fast-growing business in the emerging catastrophe risk modelling sector. The records cover more than 80 years up to 2020 and link to people and companies in more than 200 countries and territories. the British Virgin Islands; and. 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 Viscount Rothermere buys 100% of the voting shares in DMGT. The reporting person is the beneficial owner of 1,437,250 shares of the Issuers Ordinary Shares (as The Control Persons are special purpose entities, the principal business of each being the management of certain 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. the Control Persons), are: Trust 1 is a Control Person with respect to The Trust 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. This website is for Private Investors* only. Journalism in Britain is under threat. 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. VideoRussian minister laughed at for Ukraine war claims, The children left behind in Cuba's mass exodus, Xi Jinping's power grab - and why it matters, Snow, Fire and Lights: Photos of the Week. defined below) which constitute approximately .2% of the class outstanding. Esmond Harmsworth, son of Harold Harmsworth and the second Viscount Rothermere appointed DMGT Chairman. LIMIT THE USE OF MY SENSITIVE PERSONAL INFORMATION. The same St. Lucian company also owns land and one further, unidentified property in the Kensington area. See 2(a) and 3 below (c) Name of offeror/offeree in relation to whose relevant securities this form relates: He then passed on the nom-dom status to his son who doesnt actually pay the normal amount of tax despite owning a newspaper thats owned through various tax companies in Bermuda. The Trust Company was incorporated in the British 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. 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Rothermere Continuation Limited (RCL) announced, 22 September, that it had decided to make changes to the composition of the DMGT Board. 2/11/21. A former DMGT staff member told the BBC Lord Rothermere is known to dislike stories which bring his papers into disrepute. The company was incorporated in 1995 and is based in Hamilton, Bermuda. until the third annual meeting of shareholders following the closing of a corporate transaction Row (11) Excludes Certain Shares (See Instructions) o. Daily Mail and General Trust plc on 3 November 2021, it was announced that Rothermere Continuation Limited and the Non-conflicted DMGT Directors had reached agreement on the terms of a special. Except as set forth in Item 3 above, none of the Reporting Persons or, to the best knowledge of the Reporting Earlier this year DMGT sold its share of car-buying platform Cazoo, which listed in New York via a special purpose vehicle, and disposed of its catastrophe modelling business RMS ahead of Lord Rothermere proposing the share buyback. 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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).

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