[11], Lord Rothermere chairs the Imperial War Museum foundation, following the tradition set by his great grandfather, the first Viscount. Both RCL and the trust are administered in Jersey, in the Channel Islands". 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 45-year-old is the fourth Viscount Rothermere, and inherited the chairmanship of DMGT at the age of 30 on the death of his father in 1998. 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. (as defined below) which constitute approximately 5.9% of the class outstanding. is required pursuant to Items 2(d) or 2(e): o, Aggregate Amount Beneficially Owned ': 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? Boris Johnson weighs offers for his return to journalism, Daily Mail out to stop traitor Sunak as Tory rivals vie for press backing, bought the New Scientist magazine in a 70m deal in March. 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). Use our commercial database of more than 120 million business records & industry directory for company research & industry analysis. DMGT acquires Trepp, a US-based business providing valuation and data solutions for the commercial mortgage-backed securities (CMBS) market. "[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. 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. 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. is 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. . 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. 2/11/21. Journalism in Britain is under threat. information concerning each executive officer, director or trustee (as applicable) of the Reporting Persons and of the Control Persons Under the Securities Exchange Act of The share element of the The Daily Mail - which worried that the "complicated structure" of the Sussex businesses showed that "Meghan planned to keep her and Harry's business as opaque as possible" - is owned by Daily Mail General Trust, which was until 2020 owned by a holding company called Rothermere Continuation Limited, which was incorporated in . Offer is for 64% of DMGT, which also publishes the i and Metro, that Rothermeres do not already own. agree. Viscount Rothermere is also on the board of 7 other companies. DMGT is listed on the London Stock Exchange. Rothermere's representative told the media: "Over the years, Lord Rothermere has been leant on by more than one prime minister to remove Associated Newspapers' editors but, as he told Lord Justice Leveson on oath, he does not interfere with the editorial policies of his papers". It emerged that in December 2006 he had pledged 8m DMGT shares he owned through a trust and DMGTs Bermudan parent company Rothermere Continuation Ltd. At the time these were worth more than 50m, though DMGTs announcement of the arrangement stated that this greatly exceeded the value of the loans. During the last five years, none of the Reporting Persons or the Scheduled Persons has been convicted In accordance with the provisions of General Instruction 14, 2022, the date when the Issuers resale registration statement was declared effective by the SEC. The Rothermere family is putting up 255p a share for the publisher, valuing it at 850m. Acceptance level update. It is also seeking assurances that the groups pension schemes will not be affected by the takeover. The cash proceeds of the deals 610p a share would be distributed to DMGT shareholders through a special dividend. Rothermere Continuation Limited. Northcliffe Newspapers is sold to regional newspaper publisher Local World. Both RCL and the Trust are administered in Jersey, in the Channel Islands. 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. shareholders of DMGT for which a date of distribution of the share element of the dividend was determined and communicated on June 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. C to Schedule 13D, each person controlling such Reporting Persons, as described herein (each, a Control Person and, collectively, the laws of Jersey; and. Lord Rothermere acquired France as his "domicile of birth" upon his birth as his father acquired a French "domicile of choice" by becoming a tax exile in Paris. We suggest you confirm the identities of any individuals or entities included in the database based on addresses or other identifiable information. 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? its lenders and currently intends to grant a negative pledge over the Ordinary Shares if that facility is finalized. In accordance with the provisions of General Instruction C to Schedule 13D, On December 2, 2021, Rothermere formally made an increased offer for those same shares . 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. All rights reserved. share (the Ordinary Shares), of Cazoo Group Ltd, a Cayman Islands exempted company (the Issuer), with principal 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. Despite a reported personal fortune of around 800m, Viscount Rothermere turned to his bankers for loans. Who owns Rothermere Continuation? [12], Rothermere married Claudia DeVriese, daughter of Terence J. Clemence, on 15 July 1993. are collectively referred to herein as the Filers). RCL owns around. Euromoney acquires Metal Bulletin, the industry-leading intelligence service for metals and steel professionals. The Reporting Persons intend to review on a continuing basis their investments Many people and entities have the same or similar names. 1998 The independent directors have indicated they would be minded to recommend the possible offer to DMGTs shareholders, the company said. who owns rothermere continuation limited. Hancock WhatsApp leaks: Dominic Cummings branded a f*****g piece of s**t, Rees-Mogg nears contempt of Parliament in tense clash with C4 host, How can anyone trust you? Ten of Scotland's major newspapers are owned by just three men: Rupert Murdoch, Lord Rothermere and Frederick Barclay. DMGT officially delisted and cancelled trading from the London Stock Exchange, ending its 90 year history.Perhaps this tweet sums it up? herewith). The BBC is not responsible for the content of external sites. 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. MailOnline, launched in 2003, has grown to be one of the worlds most popular English language news sites. 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. Metro is launched as a free newspaper serving urban markets across the UK. Harmsworth ran the businesses with sufficient skill that they remain firmly under family control today, majority ownership being voted by his grandson, Jonathan Harmsworth, 4th Viscount Rothermere (and a significant minority by Vyvyan Harmsworth, the 2nd Viscount's son by his third marriage). What I think will be embarrassing for the Mails Editor is the Mail is owned by the Rothermere family. HSR Annual Reports. Euromoney Magazine is launched as a business-to-business magazine focused primarily on the international finance sector. Row (11) Excludes Certain Shares (See Instructions) o. The Fourth Viscount Rothermere, Jonathan Harmsworth appointed DMGT Chairman. DMGT acquires the i, a quality, concise UK national newspaper and website. Market Tracker Trend Report: Trends in Public M&A in Q3 2021, CD&R set to check out with Morrisons whilst Fortress remains in the aisle, Place your bids: Private equity fight for Morrisons to be settled this Saturday, DraftKings goes all in on Entain in 16.4bn bid as foreign bidders sweep the UK gambling sector, Market Tracker weekly highlights3 March 2023, Paragon Banking Group plc sees significant no vote against remuneration, Tolley Global Mobility Worldwide: Employment Taxes, Tolley Global Mobility EU: Employment Taxes, Tolley Tax for the Globally Mobile Individual, Daily Mails controlling shareholder indicates possible bid, Pension issues on a takeoverTakeover Code requirements, International Sales(Includes Middle East). position, change their purpose, take other actions or formulate and implement plans or proposals with respect to any of the foregoing. The ICIJ Offshore Leaks Database is licensed under the Open Database License and contents under Creative Commons Attribution-ShareAlike license. The Control Persons are special purpose entities, the principal business of each being the management of certain the Ordinary Shares referred to in Item 3 as a result of the Special Dividend and hold the Ordinary Shares for investment purposes. The current Lord Rothermeres father loved Great Britain so much he went to live in France as a tax exile. Daily Mail and General Trust plc (DMGT) 23-Jul-2021 / 15:23 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. 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. 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. conjunction with Rothermeres offer to the other DMGT shareholders for the shares in DMGT not already beneficially owned by the offer was conditional on a sufficient number of acceptances having been received from DMGT 1934, Class A Ordinary Shares, par value $0.0001, (Name, Address and Telephone Number of Person Authorized in Jersey. Company and Rothermere together hold approximately 5.9% of the Issuers outstanding shares. 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 . According to Mr Greenslade, the DMGT chairman "has ignored the legion of complaints about the Mail's nastiness" and "never betrayed any sign of concern about the criticisms". Significant shareholder Majedie Asset Management, which holds a 4.63% stake in DMGT is reportedly against the takeover on the basis that the offer undervalues the company. Item 6. Market Tracker will continue to monitor this transaction as it develops. 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. 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. Item 3. 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. MailOnline, launched in 2003, has grown to be one of the worlds most popular English language news sites. under the laws of the British Virgin Islands. 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. Our mission is to hold the powerful to account. 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. 240.13d-1(f) or 240.13d-1(g), check the following box. ", "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. in the Issuer. 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. Persons, any Scheduled Persons, has effected any transaction in the Ordinary Shares during the last 60 days. 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. Trust 1 is a Jersey law trust and is a resident 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. 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. The same St. Lucian company also owns land and one further, unidentified property in the Kensington area. L Catterton is 60% owned by the partners of L Catterton . 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. One day prior to the announcement of the firm offer, DMGT confirmed that RCL and DMGT were close to agreeing a deal with DMGTs pension scheme trustees, with one of the terms in agreement being a payment of approximately 400m into the schemes. currently 760,872,476 outstanding shares of Ordinary Shares of the Issuer, based on information received from the Issuer prior to filing. The percentage calculation assumes that there are 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 percentage calculation assumes that there are currently securities laws or finding any violation with respect to such laws. The Trust Company is a special purpose entity, the principal business of which is the management of The Fourth Viscount Rothermere, Jonathan Harmsworth appointed DMGT Chairman. Item 7. Rothermere is currently negotiating a new finance facility with one of 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). Free trials are only available to individuals based in the UK. Lord Rothermere was educated at Gordonstoun School and Duke University.[2]. 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 . 1998 Metro Metro is launched as a free newspaper serving urban markets across the UK. The. Story . Yet another Rothermere company, Harmsworth Trust Co (PTC) Ltd, registered in the British Virgin Islands, owns 10 English properties, most of them near the Rothermeres' neo-Palladian pile in 200-acre Ferne Park in Wiltshire. 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. business. 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 .