who owns rothermere continuation limited

Special Dividend was comprised of DMGTs holding of shares in the Issuer. Rothermere is the legal owner of most 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. 1 Daily Mail & General Trust PLC - London-based newspaper publisher, including Daily Mail, Metro and i - Rothermere Continuation Ltd says Friday it owns or has acceptances for its takeover offer for . Source and Amount of Funds or Other Early Termination Updates on Twitter. Rothermere Continuation Limited (RCL) announced, 22 September, that it had decided to make changes to the composition of the DMGT Board. KEY INFORMATION (a) Full name of discloser: Rothermere . 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 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 . 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. who owns 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. Home > Uncategorized > who owns rothermere continuation limited. The potential deal would place the Daily Mail and its sister titles squarely in the hands of. The reporting person is the beneficial owner of 1,437,250 shares of the Issuers Ordinary Shares (as Harmsworth won his five-month battle to take the publisher private last week after the owners of 57% of the shares opted for their recommended offer. | March 3, 2023 Business Phone: 44 (0) 1534 870670. 1 Level of acceptances and interests in relevant securities. Our mission is to hold the powerful to account. DMGT owns a 17% stake in Cazoo, worth about 1bn (745m). Rothermere Continuation Ltd is the vehicle of DMGT's biggest shareholder Jonathan Harmsworth, Viscount. The Daily Mail.an anti european newspaper owned by an Englishman who lives in France.publishing articles written by Richard Littlejohn lamenting the decline of Britain.from his beach home in Florida.. Related: Revealed: The Extent of the Daily Mails Support for the British Union of Fascists. is required pursuant to Items 2(d) or 2(e): o, Aggregate Amount Beneficially Owned All Rights Reserved. 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. . 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. The aristocrat is mulling. 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. amendment containing information which would alter disclosures provided in a prior cover page. It would include an injection of about . 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. Calculated on the basis that shareholders receive 2.55 per share, a special dividend consisting of 5.68 and 0.5749 shares in Cazoo for each DMGT share and subject to approval, a final dividend of 17.3 pence per share, the deal values the company at 2.7bn at 12.63 per share. certain assets on behalf of Viscount Rothermere and his immediate family. The independent directors have indicated they would be minded to recommend the possible offer to DMGTs shareholders, the company said. We do not charge or put articles behind a paywall. Shares, par value $0.0001 of Cazoo Group Ltd. beneficially owned by them from time to time. Except as set forth in Item 3 above, none of the Reporting Persons or, to the best knowledge of the Reporting . acquire from them those shares in DMGT not already beneficially owned by Rothermere. After reasonable inquiry and to 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)). Our appraised valuation estimate of only the largest businesses within DMGT materially exceeds double the current offer price of 255p. Rothermere Continuation Limited (RCL) is a holding company incorporated in Bermuda. by Each Reporting Person, Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)o, Percent of Class Represented by Amount DMGT acquires Genscape, an energy information business. 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). You can also SUBSCRIBE TO OUR NEWSLETTER . Each of the Filers may be required to a judgment, decree of final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state Euromoney acquires Metal Bulletin, the industry-leading intelligence service for metals and steel professionals. With this in mind, the Mail shared their outrage at the apparent lack of tax fairness. As the latest generation of the Rothermore dynasty expanded to four children by 2004, the Harmsworths had outgrown Terrys first effort and in August 2006, local council records show, obtained planning permission for new east and west wings. On December 2, 2021, Rothermere formally made an increased offer for those same shares . Row (11) Excludes Certain Shares (See Instructions) o. share (the Ordinary Shares), of Cazoo Group Ltd, a Cayman Islands exempted company (the Issuer), with principal DMGT said it has received a number of inquiries for RMS, which it bought in 1998. currently 760,872,476 outstanding shares of Ordinary Shares of the Issuer, based on information received from the Issuer prior to filing. The Trust Company holds Ordinary Shares on behalf of Rothermere because it received these 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. until the third annual meeting of shareholders following the closing of a corporate transaction 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. HSR Resources. Trust Company was established to provide trustee services to the Rothermere family trusts, and it serves as the trustee of the trusts 760,872,476 outstanding shares of Ordinary Shares of the Issuer, based on information received from the Issuer prior to filing. Issuer owned by DMGT) being declared by DMGT (the Special Dividend), the settlement of which 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. of the Ordinary Shares was acquired as part of the Special Dividend (as defined below) which was declared pro rata to all of the After the sale of the financial assets, RCL would bid about 810m for the. 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 . General Register Office of England and Wales, Marriages, September quarter 1993, Westminster, Vol 15, page 1798. LONDON, UK: Daily Mail and General Trust (DMGT) is in discussions in relation to the sale of its Insurance Risk division (RMS), while Rothermere Continuation Limited (RCL) prepared to make a possible cash offer to acquire the entire issued and to be issued share capital of DMGT not already owned by RCL. 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. 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By 2001 a new Ferne House had been built in the grounds to a 40m design by renowned Palladian-style architect Quinlan Terry. DMGT sells RMS for approximately 1.4 billion in cash. 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. The address of the principal business office of each of the Reporting Persons and the Control DMGT participates in the successful Zoopla Property Group IPO and sells 40% of its stake. Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk, Original reporting and incisive analysis, direct from the Guardian every morning. Northcliffe Newspapers is sold to regional newspaper publisher Local World. It is also seeking assurances that the groups pension schemes will not be affected by the takeover. The Trust Company was incorporated in the British Story . The reporting person is the beneficial owner of 44,898,183 shares of the Issuers Ordinary Shares It was, however, small when compared to the Viscount Rothermeres net worth. 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. 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 the i, a quality, concise UK national newspaper and website. DMGT delists from the London Stock Exchange following a successful offer by RCL for all of DMGTs shares. 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. Check if the Aggregate Amount in HSR Early Termination Notices API Endpoint. 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. On November 3, 2021, Rothermere formally made an offer to the other shareholders of DMGT to 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. 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Daily Mail and General Trust has been reorganising the business through disposals and targeted acquisitions. 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. It was the most pathetic piece. 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. Always cite the International Consortium of Investigative Journalists when using this data. 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. shareholders of DMGT for which a date of distribution of the share element of the dividend was determined and communicated on June 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. All rights reserved. involving the Issuer, which occurred on August 26, 2021. DMGT acquires New Scientist, one of the worlds leading science publishing titles. 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, DMGT was founded by Harold Sidney Harmsworth, the first Viscount Rothermere, in 1922. There are legitimate uses for offshore companies and trusts. The stock exchange announcement offered no reasons why Rothermere Continuation Limited (RCL), the Jersey-registered holding company, has chosen this moment to say it may try to go fully. General Register Office of England and Wales, Births, Register number A65C, Entry number 255, Westminster. 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. The offer follows from Rothermeres approach in July 2021 (see: Daily Mails controlling shareholder indicates possible bid) which offered shareholders 2.51 per share and a special dividend of 6.10 and Cazoo shares. 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During the last five years, none of the Reporting Persons or the Scheduled Persons has been a party to RCL is owned by a trust (Trust) which is held for the benefit of Lord Rothermere and his immediate family. 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 Last month, the family's Jersey-registered holding company, Rothermere Continuation Ltd (RCL), announced that it was considering a 251p-a-share bid to buy DMGT, which also owns the Metro and i . 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. DMGT participates in a funding round in October 2020, valuing its c. 20% fully-diluted stake in Cazoo at 0.4 billion. Contracts, Arrangements, Understandings the Ordinary Shares referred to in Item 3 as a result of the Special Dividend and hold the Ordinary Shares for investment purposes. Journalism in Britain is under threat. 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. Market Tracker is a unique service for corporate lawyers housed within LexisPSL Corporate. 1998 Metro Metro is launched as a free newspaper serving urban markets across the UK. Mr. Rothermere is Chairman & Chief Executive Officer at Daily Mail & General Trust Plc, Chairman of dmg media Ltd. (a subsidiary of Daily Mail & General Trust Plc) and Executive Chairman for General Trust Plc. Just as Harold Harmsworth aka 1st Viscount Rothermere, used the Daily Mail to condition its readers with fascist and antisemitic articles throughout the 1930s, Jonathon Harmsworth u In accordance with the provisions of General Instruction Read more, Editorial enquiries, please contact: [emailprotected], Commercial enquiries, please contact: [emailprotected]. 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. In each case, 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. Who owns Rothermere Continuation? The firm said that Rothermere Continuation Ltd, which owns around 30%, had indicated it was prepared to make a possible cash offer of 251p per share for the entire share capital it did not already own, implying an enterprise value of around 810m. 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. 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. This article was amended on 14 July 2021. Mr Miliband said the apology was not enough and said Lord Rothermere must investigate the "culture and practices" of journalists at his newspapers. Brothers Alfred and Harold Harmsworth edit, produce and oversee the launch of the Daily Mail. A former DMGT staff member told the BBC Lord Rothermere is known to dislike stories which bring his papers into disrepute. Lord Rothermere said his role is not to "operationally manage" DMGT, Lord Rothermere at Margaret Thatcher's funeral, A source said there is fierce competition between the papers run by Paul Dacre and Geordie Greig, Russian minister laughed at for Ukraine war claims. The percentage calculation assumes that there are The third precondition was reaching agreement with DMGTs pension trustees which has resulted in a 412m payment into its three main schemes. 2: Check the Appropriate Box if a Member of a Group (See Instructions) (a) o (b) o. 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. Read more, The International Consortium of Investigative Journalists, Harmsworth Trust Company (PTC) Limited and Crestbrook Associates (PTC) Limited, each in their capacity as trustees of the Children's Fund, Harmsworth Trust Company (PTC) Limited as trustee of the Main Fund, Harmsworth Trust Company (PTC) Limited as Trustee of The Rothermere Continuation Trust, Canon's Court; 22 Victoria Street; Hamilton; HM 12; Bermuda. Esmond Harmsworth, son of Harold Harmsworth and the second Viscount Rothermere appointed DMGT Chairman. Viscount Rothermere is also on the board of 7 other companies.

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