the increased offer were satisfied in due course, including the declaration of the Special Dividend, He has non-domicile (non-dom) tax status and owns his media businesses through a complex structure of offshore holdings and trusts.[4]. Northcliffe Newspapers is sold to regional newspaper publisher Local World. Filing Agreement by and among the Reporting Persons, dated as of June 24, 2022 (filed 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 and is a resident in Jersey. On June 28, 2022, Rothermere entered into a financing agreement with DB UK Bank Limited (the "Bank") pursuant to Pursuant to the terms of the agreement, Rotheremere granted to the Bank a negative pledge over the Ordinary Shares. 1 Level of acceptances and interests in relevant securities. 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 o. Note: Schedules filed in paper format shall The third precondition was reaching agreement with DMGTs pension trustees which has resulted in a 412m payment into its three main schemes. The move sparked speculation that Rothermere might seek to approach the remaining shareholders to take full control of DMGT, which has been listed on the stock market since 1932. the offer was conditional on a sufficient number of acceptances having been received from DMGT Rothermere Continuation Ltd is the vehicle of DMGT's biggest shareholder Jonathan Harmsworth, Viscount. In accordance with the provisions of General Instruction C to Schedule 13D, 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. See Items 7-11 of the cover pages and Item 2 above. position, change their purpose, take other actions or formulate and implement plans or proposals with respect to any of the foregoing. Mr Miliband said the apology was not enough and said Lord Rothermere must investigate the "culture and practices" of journalists at his newspapers. [11], Lord Rothermere chairs the Imperial War Museum foundation, following the tradition set by his great grandfather, the first Viscount. In each case, The Company has been notified that Rothermere Continuation Limited has entered into a definitive agreement to acquire the entire shareholding of The Esmond Harmsworth 1998 Settlement in the. Video, Russian minister laughed at for Ukraine war claims, Harry: I feared losing memories of mum during therapy, US-made cheese can be called 'gruyere' - court, AOC under investigation for Met Gala dress, The children left behind in Cuba's exodus, Alex Murdaugh's legal troubles are far from over, Saving Private Ryan actor Tom Sizemore dies at 61, Walkie Talkie architect Rafael Violy dies aged 78. 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 ", "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. The. 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, 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. 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"). 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 or utilizing specific pricing or other instructions (including by means of Rule10b5-1programs), and review or reconsider their The Rothermeres Jersey-registered holding company Rothermere Continuation Ltd (RCL) initially proposed a 251p offer in July for the 64% of DMGT it did not already control, provided a number of preconditions were met. 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. who owns rothermere continuation limited. 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.. The class of equity security herewith). 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. 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 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. Rothermere Continuation Ltd. (RCL . 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 . the laws of Jersey; and. 1998 RMS joins DMGT DMGT acquires Risk Management Solutions, a fast-growing business in the emerging catastrophe risk modelling sector. If 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. Esmond Harmsworth, son of Harold Harmsworth and the second Viscount Rothermere appointed DMGT Chairman. RCL said the decision comes after . General Register Office of England and Wales, Births, Register number A65C, Entry number 255, Westminster. Offer is for 64% of DMGT, which also publishes the i and Metro, that Rothermeres do not already own. 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. involving the Issuer, which occurred on August 26, 2021. The Fourth Viscount Rothermere, Jonathan Harmsworth appointed DMGT Chairman. L Catterton is 60% owned by the partners of L Catterton . Start sales research here. in its capacity as a legal shareholder of DMGT ordinary shares. On 3 November 2021, Daily Mail and General Trust plc (DMGT), which owns Daily Mail, Mail on Sunday, the Metro and inews,announcedthat it had agreed to the terms of a 2.7bn recommended offer from Rothermere Continuation Limited (RCL), a Bermuda registered company owned by a trust held for the benefit of Lord Rothermere and his immediate family (DMGTs controlling shareholder). All Rights Reserved. He provided Lord Leveson with details of numerous lunches and dinners with politicians including Tony Blair, Gordon Brown, David Cameron and Nick Clegg. Contact Info. With this in mind, the Mail shared their outrage at the apparent lack of tax fairness. DMGT has issued a bond that is owned by fixed income investors. By 2001 a new Ferne House had been built in the grounds to a 40m design by renowned Palladian-style architect Quinlan Terry. DMGT distributes its c.49% stake in Euromoney Institutional Investor PLC and 200m cash to shareholders. [6], He was a supporter of the former Conservative Party leader David Cameron. It is also seeking assurances that the groups pension schemes will not be affected by the takeover. During the last five years, none of the Reporting Persons or the Scheduled Persons has been convicted to a judgment, decree of final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state General Register Office of England and Wales, Marriages, September quarter 1993, Westminster, Vol 15, page 1798. 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. KEY INFORMATION (a) Full name of discloser: Rothermere . Viscount Rothermere currently serves on 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. 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". Daily Mail and General Trust has been reorganising the business through disposals and targeted acquisitions. In September 2013, the Daily Mail published an article headlined "the man who hated Britain" about Ralph Miliband, the late father of Labour leader Ed Miliband - who called the story a "lie". 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. He said he would usually "refer them back to Paul Dacre" but would sometimes raise an issue with the editor if a complaint appeared to have "merit". But what of the Mail newspaper group itself? 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. DMGT acquires Landmark, a UK business that provides services to help reduce the risk associated with commercial and residential property transactions. 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 & General Trust chairs family would buy about 70% of group that it does not already own. Both RCL and the trust are administered in Jersey, in the Channel Islands". This Joint Filing Agreement, dated The Trust Company holds Ordinary Shares on behalf of Rothermere because it received these Persons is 35-37 New Street, St Helier, Jersey JE2 3RA. Pending the closure of both deals, DMGT's controlling shareholder Rothermere Continuation Ltd (RCL), the family's Jersey-registered trust, told the DMGT board it would be prepared to make a possible cash offer of about $1.1 billion to acquire all shares not already owned by RCL. All text and design is copyright 2020 WhaleWisdom.com. Material to Be Filed as Exhibits Item 7 of the Schedule 13D is amended and supplemented as follows: Euromoney acquires Metal Bulletin, the industry-leading intelligence service for metals and steel professionals. Acceptance level update.