who owns rothermere continuation limited

DMGT acquires the i, a quality, concise UK national newspaper and website. 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. 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 . 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". Our mission is to hold the powerful to account. a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject After reasonable inquiry and to 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. Filing Agreement by and among the Reporting Persons, dated as of June 24, 2022 (filed On 3 November 2021, Daily Mail and General Trust plc (DMGT), which owns Daily Mail, Mail on Sunday, the Metro and inews, announced that 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 in Row (11), Type of Reporting Person (See Instructions). 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. The aristocrat is mulling. rothermere continuation ltd. 35-37 NEW STREET. All conditions for 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 . 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. and is a resident in Jersey. 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. Read about our approach to external linking. 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 Rothermere Continuation Limited (RCL) is a holding company incorporated in Bermuda. The independent directors have indicated they would be minded to recommend the possible offer to DMGTs shareholders, the company said. 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. 2021 Associated Newspapers Limited. to a judgment, decree of final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state Our appraised valuation estimate of only the largest businesses within DMGT materially exceeds double the current offer price of 255p. Except as set forth in Item 3 above, none of the Reporting Persons or, to the best knowledge of the Reporting He set up the Daily Mail with his brother Alfred in 1896, and subsequently launched the Daily Mirror. We suggest you confirm the identities of any individuals or entities included in the database based on addresses or other identifiable information. digitGaps report on Rothermere Continuation Limited delivers a detailed in-depth and comprehensive insights of the company, its history, corporate strategy, its businesses and structures, and company operations by examining its performance in local market and global economy. be terminated by any of the Filers upon one weeks prior written notice or such lesser period of notice as the Filers may mutually 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. To donate or subscribe to The London Economic, click here. DMGT was founded by Harold Sidney Harmsworth, the first Viscount Rothermere, in 1922. 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. block sales or otherwise or pursuant to ordinary stock exchange transactions effected through one or more broker-dealers whether individually You can download a raw copy of the database here. Public records show Infosys has received more than 50 million in UK public sector contracts since 2015 with Labour arguing Sunak should have registered an interest in the firm because of his wifes involvement. 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 LIMIT THE USE OF MY SENSITIVE PERSONAL INFORMATION. Lord Rothermere, the head of the family that founded the Daily Mail in 1896 and a director of Rothermere Continuation Limited (RCL), said: "The sale of RMS and the Cazoo IPO have delivered . dmg events is formed (under a different name) to manage and develop a portfolio of events assets. We strongly urge shareholders not to accept the offer.. Rothermere said it now owns or has agreed to buy 56.7% of all DMGT shares. 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. 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. information concerning each executive officer, director or trustee (as applicable) of the Reporting Persons and of the Control Persons Rothermere is the legal owner of most Jonathan Harmsworth, known as Lord Rothermere and the great-grandson of the newspaper's founder, is already the firm's controlling shareholder through his family trust. HSR Resources. its lenders and currently intends to grant a negative pledge over the Ordinary Shares if that facility is finalized. Rothermere. DMGT acquires Landmark, a UK business that provides services to help reduce the risk associated with commercial and residential property transactions. Image: The Cerne Abbas Giant, owned by the National Trust. Persons is 35-37 New Street, St Helier, Jersey JE2 3RA. 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 . 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 The percentage calculation assumes that there are currently Under British takeover rules, the Rothermeres have until Nov. 25 to make a firm offer to buy DMGT via their vehicle Rothermere Continuation Ltd or walk away. MailOnline overtakes New York Times as the most visited English language newspaper website in the world. DMGT acquires Hobsons, a UK-based B2B publishing business. [12], Rothermere married Claudia DeVriese, daughter of Terence J. Clemence, on 15 July 1993. In 2013, Rothermere, who has until 9 August to make a firm offer for the business or walk away, first signalled that he might seek to take the business private by increasing his control of the family-held voting shares to almost 90%. Item 3. During the last five years, none of the Reporting Persons or the Scheduled Persons has been a party to Lord Rothermeres RCL holds all of the vote-bearing shares in DMGTs two-tier stock structure, which means that the deal is not at risk of being blocked when the deal is put to a shareholder vote. 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? [13] They have five children:[citation needed], In 2002, The Guardian reported that Rothermere had fathered at least one more child prior to his marriage. The issuer is solely responsible for the content of this announcement. [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. the Ordinary Shares referred to in Item 3 as a result of the Special Dividend and hold the Ordinary Shares for investment purposes. 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. 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. The records cover more than 80 years up to 2020 and link to people and companies in more than 200 countries and territories. In a stock market announcement on Monday, the group said Rothermere's Jersey-registered holding company Rothermere Continuation Ltd (RCL) was considering a bid of 251p a share, valuing the. involving the Issuer, which occurred on August 26, 2021. Despite a reported personal fortune of around 800m, Viscount Rothermere turned to his bankers for loans. . in Jersey. Daily Mail and General Trust has been reorganising the business through disposals and targeted acquisitions. 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. The possible offer is subject to a number of pre-conditions and, even if satisfied, there can be no certainty that an offer will be made . 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 Both RCL and the trust are administered in Jersey, in the Channel Islands". Market Tracker will continue to monitor this transaction as it develops. There are legitimate uses for offshore companies and trusts. 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. All rights reserved. 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". RCL said the decision comes after . See Rule 13d-7 for other parties to whom copies are One change he has instituted since becoming chairman is requiring directors to retire at age 75. C to Schedule 13D, each person controlling such Reporting Persons, as described herein (each, a Control Person and, collectively, or utilizing specific pricing or other instructions (including by means of Rule10b5-1programs), and review or reconsider their 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. assets on behalf of Viscount Rothermere and his immediate family. 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. It was the most pathetic piece. Harmsworth, 53, Harolds great-grandson, has led the business through huge technological change as print newspapers have had to refocus their business models in the digital age. under the laws of the British Virgin Islands. 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. Rothermere Continuation Trust (Trust 2), a discretionary trust organized under the laws of 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. 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. Notices and Communications), (Date of Event Which Requires Filing of this Statement), If the filing person has previously filed a statement The Offer was announced on 3 November 2021, and it is expected to become or be declared unconditional on 16 December 2021. RCL said the decision comes after "the . 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. BROWSE PEOPLE DIRECTORY People Search 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 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. Use our commercial database of more than 120 million business records & industry directory for company research & industry analysis. Isabel Oakeshott HANGS UP on interviewer, Ambulance strikes suspended by GMB and Unison, Revealed: The Extent of the Daily Mails Support for the British Union of Fascists, Elevenses: Fear and Loathing in the New Conservatives. Harmsworth Trust Company (PTC) Limited (Trust Company), a private trust company organized ': Messages reveal frantic hours after Hancock affair story breaks, 'The man is a narcissist': Tories despair as 'bully' Boris Johnson threatens Sunak's new start, Instagram midwife faces misconduct hearing over racially offensive posts, Maternity expert pulls out of conference accused of promoting 'normal birth' ideology, One of history's most famous psychological experiments was probably fake, Poverty complaints are 'bollocks' says Tory deputy chair: 'They dont know what poverty is', Ken Bruce's final show reminded us he doesn't just talk to everyone, he listens to them, too, Who hates my naked protests most? General Register Office of England and Wales, Births, Register number A65C, Entry number 255, Westminster. December 2, 2021, Rothermere formally made an increased offer for those same shares. the Control Persons), are: Trust 1 is a Control Person with respect to The Trust 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, 760,872,476 outstanding shares of Ordinary Shares of the Issuer, based on information received from the Issuer prior to filing. 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. There are legitimate uses for offshore companies and trusts. Daily Mail & General Trust chairs family would buy about 70% of group that it does not already own. until the third annual meeting of shareholders following the closing of a corporate transaction 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. 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. 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. 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. A former DMGT staff member told the BBC Lord Rothermere is known to dislike stories which bring his papers into disrepute. 2/11/21. In evidence to the Leveson Inquiry into press culture, practice and ethics, he stated his role was not to "operationally manage" the company. matters. The Mail on Sunday is launched as a sister title to the Daily Mail. required by Item 2 of Schedule 13D is provided on Schedule I-IV and is incorporated by reference herein (the Scheduled Persons). Esmond Harmsworth, son of Harold Harmsworth and the second Viscount Rothermere appointed DMGT Chairman. Rothermere is also a special purpose entity, the principal Shadow justice secretary Steve Reed told the Today programme he absolutely believed Sunak had broken the ministerial code as theres a whole list of areas where the Chancellor appears to have failed to declare things he should have declared. See Items 7-11 of the cover pages and Item 2 above. (Alliance News) - Rothemere Continuation Ltd is close to inking a deal with trustees of Daily Mail & General Trust PLC, which marks the final obstacle to the company's takeover of the London-based . 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. 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. 1998 See 2(a) and 3 below (c) Name of offeror/offeree in relation to whose relevant securities this form relates: This Schedule 13D is being filed by and on behalf of each of the following persons (each, a Reporting The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations. 1934, Class A Ordinary Shares, par value $0.0001, (Name, Address and Telephone Number of Person Authorized 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. The percentage calculation assumes that there are Many people and entities have the same or similar names. Viscount Rothermere is also on the board of 7 other companies. 1 Level of acceptances and interests in relevant securities. Lord Rothermere is already the controlling shareholder of DMGT through a 28% stake owned by his family trust, RCL. Euromoney Magazine is launched as a business-to-business magazine focused primarily on the international finance sector. The BBC is not responsible for the content of external sites. Can Nigeria's election result be overturned? Why Alex Murdaugh was spared the death penalty, Why Trudeau is facing calls for a public inquiry, The shocking legacy of the Dutch 'Hunger Winter'. Persons, any Scheduled Persons, has effected any transaction in the Ordinary Shares during the last 60 days. Rothermere Continuation Limited. Lord Rothermere is considering taking the Daily Mail private in a deal that could value the newspaper group at 810m, a move that would end a 90-year run as a publicly listed company on the London Stock Exchange. Item 7. The TLE shop is also now open, with all profits going to supporting our work. to be sent. Rothermere Continuation Limited (RCL) offers to acquire all of the DMGT shares that it does not already own. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. The publisher of the Daily Mail has been reorganising the business through disposals and targeted acquisitions of its own in recent years, having bought the New Scientist magazine in a 70m deal in March, as well as the i newspaper in a 49.6m deal two years ago. It was, however, small when compared to the Viscount Rothermeres net worth. 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. DMGT has issued a bond that is owned by fixed income investors. 14, 2022, the date when the Issuers resale registration statement was declared effective by the SEC. 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. DMGT reduces its stake in Euromoney Institutional Investor PLC from 67% to c.49%. The Daily Mail owner said . Together, the Trust Virgin Islands and is a resident in Jersey. Always cite the International Consortium of Investigative Journalists when using this data. "[5], In 2013, Private Eye reported that the non-dom status could be in doubt because of his stately home, Ferne House in Wiltshire, and status as a Freeman of the City of London. made an offer to the other shareholders of DMGT to acquire from them those shares in DMGT not already beneficially owned by Rothermere. who owns rothermere continuation limited. We depend on the generous support of readers like you to help us expose corruption and hold the powerful to account. KEY INFORMATION (a) Full name of discloser: Rothermere . DMGT participates in the successful Zoopla Property Group IPO and sells 40% of its stake. 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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"). 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. 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. 1 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. In accordance with the provisions of General Instruction Rule 13(d)(1)(k) promulgated under the Securities Exchange Act of 1934, as amended, the Filers hereby agree to file a single statement The class of equity security The Reporting Persons intend to review on a continuing basis their investments 1998 RMS joins DMGT DMGT acquires Risk Management Solutions, a fast-growing business in the emerging catastrophe risk modelling sector. to which this statement on Schedule 13D (this Schedule 13D) relates is the Class A ordinary shares, par value $0.0001 per Each of the Filers may be required the laws of Jersey; and. At conservative gathering, Trump is still the favourite. 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. Viscount Rothermere buys 100% of the voting shares in DMGT. 2: Check the Appropriate Box if a Member of a Group (See Instructions) (a) o (b) o. (Nov 2): Daily Mail owner Lord Rothermere is on the verge of taking the newspaper private after closing in on a deal with its pension funds.Daily Mail & General Trust Plc and controlling shareholder Rothermere Continuation Ltd are "close to agreeing a deal with the trustees" of DMGT's three pension funds, the company said in a statement on Tuesday. Euromoney acquires Metal Bulletin, the industry-leading intelligence service for metals and steel professionals. General Register Office of England and Wales, Births, Register number E60C, Entry number 038, Westminster. beneficially owned by it, Rothermere beneficially owned (and continues to own) all of the DMGT ordinary shares. So once you start doing Im looking at your family it gets embarrassing and I think the Rothermere family, if you want to go further back, we get to the great grandfather who lets join in together ran the headline hoorah for the blackshirts.. certain assets on behalf of Viscount Rothermere and his immediate family. 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. Journalism in Britain is under threat.

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