who owns rothermere continuation limited

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. [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. i' s 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. Source and Amount of Funds or Other in Jersey. Early Termination Updates by email. 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. What's the least amount of exercise we can get away with? Trust 2 is a British Virgin Islands law trust DMGT acquires New Scientist, one of the worlds leading science publishing titles. a Group (See Instructions) (a) o(b) o, Check if disclosure of legal proceedings 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). Persons is 35-37 New Street, St Helier, Jersey JE2 3RA. The Fourth Viscount Rothermere, Jonathan Harmsworth appointed DMGT Chairman. Row (11) Excludes Certain Shares (See Instructions) o. 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. Offer is for 64% of DMGT, which also publishes the i and Metro, that Rothermeres do not already own. Premerger Notification Office Blog Posts. 1 The declaration reveals that "RCL is owned by a trust which is held for the benefit of Viscount Rothermere (the chairman of the DMGT) and his immediate family. All text and design is copyright 2020 WhaleWisdom.com. Daily Mail and General Trust has been reorganising the business through disposals and targeted acquisitions. Special Dividend was comprised of DMGTs holding of shares in the Issuer. The. the laws of Jersey; and. in the Issuer. DMGT participates in a funding round in October 2020, valuing its c. 20% fully-diluted stake in Cazoo at 0.4 billion. who owns rothermere continuation limited. The potential deal would place the Daily Mail and its sister titles squarely in the hands of. 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. the increased offer were satisfied in due course, including the declaration of the Special Dividend, RCL owns around. Person and, collectively, the Reporting Persons): Rothermere Continuation Limited (Rothermere), a private limited company organized under Premerger/HSR Press Releases. dmg events is formed (under a different name) to manage and develop a portfolio of events assets. Rothermere Continuation Limited (RCL) offers to acquire all of the DMGT shares that it does not already own. The aristocrat is mulling. The current Lord Rothermeres father loved Great Britain so much he went to live in France as a tax exile. Trust Company was established to provide trustee services to the Rothermere family trusts, and it serves as the trustee of the trusts Read about our approach to external linking. Item 6. 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. MailOnline overtakes New York Times as the most visited English language newspaper website in the world. 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. taking the firm private after 89 years on the London Stock Exchange, 'How bad are the pics? By living as a tax exile in Paris for most of his life, the 3rd Viscount had become non-domiciled for British tax purposes. was conditional on the increased offer becoming or being declared unconditional. DMGT shareholders on June 23, 2022 (the cash element of the Special Dividend having been in its capacity as a legal shareholder of DMGT ordinary shares. | March 3, 2023 Please contact us if you find an error in the database. Rothermere. in Row (11), Type of Reporting Person (See Instructions). to which this statement on Schedule 13D (this Schedule 13D) relates is the Class A ordinary shares, par value $0.0001 per As well as the Daily Mail and Mail on Sunday, the group also owns Metro newspapers and recently acquired The i newspaper and New Scientist. 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 Notes). In accordance with the provisions of General Instruction C to Schedule 13D, 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.. 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. 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 Some information may have changed over time. 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. During the last five years, none of the Reporting Persons or the Scheduled Persons has been convicted Trust 1 is a Jersey law trust and is a resident the Issuers board, and was appointed pursuant to this right. of the Ordinary Shares was acquired as part of the Special Dividend (as defined below) which was declared pro rata to all of the the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. matters. 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". The Offer has been recommended by the non-conflicted directors of DMGT. 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 Daily Mail was first. You can download a raw copy of the database here. 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. The cash proceeds of the deals 610p a share would be distributed to DMGT shareholders through a special dividend. Rothermere Continuation Trust (Trust 2), a discretionary trust organized under the laws of The independent directors have indicated they would be minded to recommend the possible offer to DMGTs shareholders, the company said. . Original reporting and incisive analysis, direct from the Guardian every morning. On the subject, Hislop said: This is the man that hated Britain on the evidence of one entry in a diary when he was sixteen when hed just arrived as a refugee in this country. Boris Johnson weighs offers for his return to journalism, Daily Mail out to stop traitor Sunak as Tory rivals vie for press backing, Nils Pratley on the plans to take Daily Mail news group private, bought the New Scientist magazine in a 70m deal in March. The Trust Company holds Ordinary Shares on behalf of Rothermere because it received these unconditional in all respects, satisfying the condition to the declaration of the Special Dividend. . Notices and Communications), (Date of Event Which Requires Filing of this Statement), If the filing person has previously filed a statement herewith). Except as set forth in Item 3 above, none of the Reporting Persons or, to the best knowledge of the Reporting It would include an injection of about . Daily Mail & General Trust chairs family would buy about 70% of group that it does not already own. made an offer to the other shareholders of DMGT to acquire from them those shares in DMGT not already beneficially owned by Rothermere. The class of equity security Business Phone: 44 (0) 1534 870670. 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. 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. 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. o. RCL said the decision comes after "the . 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. Consequently, DMGT shareholders will also receive a special dividend of 991p per share and a final dividend worth 17.3p a share, bringing the total value of the offer and investor payouts to 12.63 a share, just over 3bn including debts. as of June 24, 2022, is by and among Rothermere Continuation Limited and Harmsworth Trust Company (PTC) Limited (the foregoing The percentage calculation assumes that there are 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%. Ten of Scotland's major newspapers are owned by just three men: Rupert Murdoch, Lord Rothermere and Frederick Barclay. Viscount Rothermere currently serves on Despite a reported personal fortune of around 800m, Viscount Rothermere turned to his bankers for loans. The Mail stood by its article but apologised for using a picture of Ralph Miliband's tombstone with the pun "grave socialist" on its website. 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 Fourth Viscount Rothermere, Jonathan Harmsworth appointed DMGT Chairman. DMGT is listed on the London Stock Exchange. Lord Rothermere rarely gives interviews, but in 2004 he told the Independent his views were "not necessarily" those of the Daily Mail, but said he did not have the right to "second-guess" his editors. . by Each Reporting Person, Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)o, Percent of Class Represented by Amount Euromoney Magazine is launched as a business-to-business magazine focused primarily on the international finance sector. 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. All rights reserved. required by Item 2 of Schedule 13D is provided on Schedule I-IV and is incorporated by reference herein (the Scheduled Persons). We strongly urge shareholders not to accept the offer.. It is also seeking assurances that the groups pension schemes will not be affected by the takeover. amendment containing information which would alter disclosures provided in a prior cover page. its lenders and currently intends to grant a negative pledge over the Ordinary Shares if that facility is finalized. This article was amended on 14 July 2021. The reporting person is the beneficial owner of 44,898,183 shares of the Issuers Ordinary Shares 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. Kudrat Agrawal / Trainee, Edward Beighton / Trainee, Maddy Tomlin / Trainee, Sean Lee / Trainee, Xiwan Wei / Trainee, One Bunhill RowLondonEC1Y 8YYUnited Kingdom, 2906-2909 China World Office 2No.1 Jianguomenwai AvenueBeijing 100004China, 47th Floor, Jardine HouseOne Connaught Place, CentralHong KongChina, 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, Sustainability and Climate Change Resources, Modern Slavery Slavery and Human Trafficking Statement, Go to Financial Regulation Weekly Bulletin, Go to Sustainability and Climate Change Resources. securities laws or finding any violation with respect to such laws. Rothermere Continuation Ltd. (RCL . The Reporting Persons acquired 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 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. The Rothermere's 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. Check the Appropriate Box if a Member of Rothermere Continuation Limited. The address of the principal business office of each of the Reporting Persons and the Control The Daily Mail was first. Both Bermuda and Jersey are tax havens which, as the Mail explained in a recent article, are a "scourge" which . [7], He ranked fourth in the Publishing, Advertising, and PR section of The Sunday Times Rich List of 2013 with an estimated wealth of 720 million. Well, Daily Mailproprietor Lord Rothermere is also a famous exponent of non-dom tax rules. that own the majority of the voting equity interests in Rothermere. Lord Rothermere appeared third on the Sunday Times Rich List "media top 20" in 2012, with an estimated wealth of 760m. Rothermere Continuation Limited (RCL) announced, 22 September, that it had decided to make changes to the composition of the DMGT Board. position, change their purpose, take other actions or formulate and implement plans or proposals with respect to any of the foregoing. It was the most pathetic piece. What has happened to the once-great British Airways? The Reporting Persons intend to review on a continuing basis their investments By 2001 a new Ferne House had been built in the grounds to a 40m design by renowned Palladian-style architect Quinlan Terry. 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. Journalism in Britain is under threat. The Rothermere family already own just over a third of DMGT and 100% of the company's voting rights. The company was incorporated in 1995 and is based in Hamilton, Bermuda. 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. 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. 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). agree. One change he has instituted since becoming chairman is requiring directors to retire at age 75. Company. currently 760,872,476 outstanding shares of Ordinary Shares of the Issuer, based on information received from the Issuer prior to filing. 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. 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. They wrote: Back in 1999 the young chairman of the Daily Mail and General Trust, the 4th Viscount Rothermere, aka Jonathan Harmsworth, bought a 220-acre estate called Ferne Park as home for his family, then comprising wife Claudia and two children under six. We depend on the generous support of readers like you to help us expose corruption and hold the powerful to account. shareholders of DMGT for which a date of distribution of the share element of the dividend was determined and communicated on June Private Eye also reported on Rothermeres purchase of a 220-acre estate for his family. There are legitimate uses for offshore companies and trusts. business. 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 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. DMGT said it has received a number of inquiries for RMS, which it bought in 1998. Photo by Pete Harlow, Wikimedia Commons (Creative Commons licence CC BY-SA 3.0).. 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. Market Tracker is a unique service for corporate lawyers housed within LexisPSL Corporate. 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 . Following its transformation into a US-based EdTech business, Hobsons is sold for c.US$410m cash. (as defined below) which constitute approximately 5.9% of the class outstanding. They outlined ten key questions the chancellor should answer regarding the tax scandal. Contact Info. 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. For a trust, the trustee(s), settlor and beneficiaries must be named. The Trust Company was incorporated in the British 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. a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject Item 3. 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. 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". The Daily Mail owner said . The BBC is not responsible for the content of external sites. Story . DMGT is 100% owned by Rothermere Continuation Limited (RCL) RCL has always owned the majority of DMGT's voting shares and, following a successful offer by RCL for all of the shares it did not already own, DMGT delisted from the London Stock Exchange in January 2022. 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. the Control Persons), are: Trust 1 is a Control Person with respect to The Trust 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. 760,872,476 outstanding shares of Ordinary Shares of the Issuer, based on information received from the Issuer prior to filing. 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.

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