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DMGT acquires Trepp, a US-based business providing valuation and data solutions for the commercial mortgage-backed securities (CMBS) market. 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. 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. We strongly urge shareholders not to accept the offer.. Lord Rothermere was educated at Gordonstoun School and Duke University.[2]. The Mail on Sunday is launched as a sister title to the Daily Mail. 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. who owns rothermere continuation limited. HSR Early Termination Notices API Endpoint. 2: Check the Appropriate Box if a Member of a Group (See Instructions) (a) o (b) o. Following a successful launch to market in 2019, DMGT increases its total investment in Cazoo to 117m. RCL is owned by a trust for the benefit of theViscount Rothermere and his immediate family.In return, the Trust will receive non-voting "A" ordinary shares,at a ratio of 112.5 non-voting "A" ordinary shares for every 100ordinary voting shares held. All rights reserved. . are collectively referred to herein as the Filers). Rothermere Continuation Limited (RCL) announced, 22 September, that it had decided to make changes to the composition of the DMGT Board. L Catterton is 60% owned by the partners of L Catterton . 1). DMGT acquires Risk Management Solutions, a fast-growing business in the emerging catastrophe risk modelling sector. MailOnline, launched in 2003, has grown to be one of the worlds most popular English language news sites. the offer was conditional on a sufficient number of acceptances having been received from DMGT the laws of Jersey; and. Lord Rothermere, chairman of DMGT and director of RCL, said: The sale of RMS and the Cazoo IPO have delivered excellent shareholder returns, but inevitably DMGT is now a considerably smaller group of businesses, with significantly greater exposure to consumer media. Both RCL and the Trust are administered in Jersey, in the Channel Islands. Jonathan Harmsworth, 53, Harolds great-grandson and the 4th Viscount Rothermere, has led the business through huge technological change as print newspapers have had to refocus their business models in the digital age. until the third annual meeting of shareholders following the closing of a corporate transaction assets on behalf of Viscount Rothermere and his immediate family. The Trust Company is a special purpose entity, the principal business of which is the management of Cazoo is aiming to list on the New York stock exchange this year, with DMGTs 16% stake worth about 800m at its current 5bn valuation. Under the proposed deal, which is contingent on selling the RMS unit, Rothermere Continuation Ltd. would pay 251 pence per share in cash and a special dividend valued at about 610 pence per share which includes cash from the asset sale and a distribution of stock in online auto-marketplace startup Cazoo the London-based company said in . who owns rothermere continuation limited. 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. A Point of View: Power, politicians and the press, Street fighting in Bakhmut but Russia not in control, Russian minister laughed at for Ukraine war claims. and is a resident in Jersey. The issuer is solely responsible for the content of this announcement. 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. Rothermere Continuation Limited (RCL) is a holding company incorporated in Bermuda. See Rule 13d-7 for other parties to whom copies are DMGT distributes its c.49% stake in Euromoney Institutional Investor PLC and 200m cash to shareholders. DMGT owns a 17% stake in Cazoo, worth about 1bn (745m). This morning, "DMGT announced that its controlling shareholder, Rothermere Continuation Limited (RCL), had notified it of a possible offer for the entire share capital of DMGT not already owned by RCL. This Schedule 13D is being filed by and on behalf of each of the following persons (each, a Reporting Rothermere Continuation Ltd is the vehicle of DMGT's biggest shareholder Jonathan Harmsworth, Viscount. The Fourth Viscount Rothermere, Jonathan Harmsworth appointed DMGT Chairman. 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. 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. Issuer owned by DMGT) being declared by DMGT (the Special Dividend), the settlement of which DMGTs share price closed up about 3.5% after news of the potential buyout was announced on Monday, at 10.76. by Each Reporting Person, Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)o, Percent of Class Represented by Amount Harmsworth Trust Company (PTC) Limited (Trust Company), a private trust company organized (as defined below) which constitute approximately 5.9% of the class outstanding. the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Euromoney acquires Metal Bulletin, the industry-leading intelligence service for metals and steel professionals. beneficially owned by it, Rothermere beneficially owned (and continues to own) all of the DMGT ordinary shares. Offer is for 64% of DMGT, which also publishes the i and Metro, that Rothermeres do not already own. We give you the access and tools to invest like a Wall Street money manager at a Main Street price. to Receive The information required on the remainder of this Check if the Aggregate Amount in The takeover will require shareholder acceptances in respect of 90% of DMGTs A shares in issue and should the deal proceed, will consolidate Lord Rothermeres control over the publisher. required by Item 2 of Schedule 13D is provided on Schedule I-IV and is incorporated by reference herein (the Scheduled Persons). It features a powerful transaction data analysis tool for accessing, analysing and comparing the specific features of corporate transactions, with a comprehensive and searchable library of deal documentation across 14 different deal types. The Rothermeres own approximately 30.3% of DMGTs non-voting shares and as a result of a deal completed in 2013, control all of the voting shares in the group. 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. Daily Mail and General Trust PLC ( LON:DMGT ) is set to be taken private again by its owner Rothermere Continuation if two other bits of corporate reshuffling go ahead. Row (11) Excludes Certain Shares (See Instructions) o. Esmond Harmsworth, son of Harold Harmsworth and the second Viscount Rothermere appointed DMGT Chairman. On 2 December 2021, Rothermere Continuation Limited ("RCL") and the Non-conflicted DMGT Directors announced the terms of a recommended increased and final cash offer for all of the issued and to be issued DMGT A Shares not already owned by RCL (the "Final Offer"). The Rothermere family has put forward a potential offer that would involve buying about 70% of the Daily Mail & General Trust (DMGT) group that it does not already own. Since 1995, three years before the Hon Jonathan Harmsworth (as he then was) inherited the Daily Mail & General Trust plc empire from his father, the 3rd Viscount, the group has been controlled through a company, Rothermere Continuation Ltd, registered in Bermuda but run from Jersey. the Ordinary Shares referred to in Item 3 as a result of the Special Dividend and hold the Ordinary Shares for investment purposes. Original reporting and incisive analysis, direct from the Guardian every morning. 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Harmsworth, the 3rd Viscount Rothermere. shareholders and, amongst other things, a special dividend (comprising cash and the shares in the 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 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 Right Honourable Jonathan Harold Esmond Vere Viscount We depend on the generous support of readers like you to help us expose corruption and hold the powerful to account. [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. Start sales research here. unconditional in all respects, satisfying the condition to the declaration of the Special Dividend. 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". DMGT is listed on the London Stock Exchange. Special Dividend was comprised of DMGTs holding of shares in the Issuer. The BBC is not responsible for the content of external sites. In August, DMGT completed the first of the preconditions, selling the insurance risk business RMS to the credit rating agency Moodys for 1.4bn. 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. 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. The Special Dividend was declared by DMGT in Read about our approach to external linking. to which this statement on Schedule 13D (this Schedule 13D) relates is the Class A ordinary shares, par value $0.0001 per 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 Special Dividend comprises cash and the shares DMGT owns in NYSE-listed Cazoo Group Limited. The aggregate value holders of DMGT A Shares would receive under the terms of the Offer, the Special Dividend and the 2021 Proposed Final Dividend (if approved) would be 1263 pence per DMGT A Share. 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. I am a private investor* I am not a private investor I am not a private investor Story . HSR Annual Reports. and the Issuer share element of the Special Dividend was distributed to Rothermere and to the former 1934, Class A Ordinary Shares, par value $0.0001, (Name, Address and Telephone Number of Person Authorized 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. and/or other shareholders or other relevant parties from time to time with respect to operational, strategic, financial or governance include a signed original and five copies of the schedule, including all exhibits. Geordie Greig's appointment as editor of the Mail on Sunday in 2012 sparked rumours he was being groomed as Mr Dacre's successor, but quotes from Lord Rothermere in Tatler magazine's October 2013 edition said Mr Dacre had signed a new contract. [18], Jonathan Harmsworth, 4th Viscount Rothermere. 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 Our mission is to hold the powerful to account. 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 records cover more than 80 years up to 2020 and link to people and companies in more than 200 countries and territories.