Lord Rothermere secures deal to take i owner DMGT private DMGT participates in the successful Zoopla Property Group IPO and sells 40% of its stake. DMGT is established to manage the family's newspaper interests. Both RCL and the Trust are administered in Jersey, in the Channel Islands. 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 inclusion of a person or entity in the ICIJ Offshore Leaks Database is not intended to suggest or imply that they have engaged in illegal or improper conduct. 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. 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. Why is Lord Rothermere taking Daily Mail and General Trust private Rule 13(d)(1)(k) promulgated under the Securities Exchange Act of 1934, as amended, the Filers hereby agree to file a single statement "[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. Lord Rothermere in 850m deal to take Daily Mail owner private - Sky News Source and Amount of Funds or Other Daily Mail owner closes in on deal to take newspaper private 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. to Receive Following the RCL offer becoming unconditional, DMGT distributes 1.3 billion cash to all shareholders and declares the distribution of its holding in Cazoo (completed in June 2022). Daily Mail: Rothermere family considers bid to take news group private L Catterton is 60% owned by the partners of L Catterton . Who owns Rothermere Continuation? shareholders of DMGT for which a date of distribution of the share element of the dividend was determined and communicated on June Check the Appropriate Box if a Member of See Rule 13d-7 for other parties to whom copies are C to Schedule 13D, each person controlling such Reporting Persons, as described herein (each, a Control Person and, collectively, 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 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. Prior to Rothermeres acquisition of the shares in DMGT not already He has non-domicile (non-dom) tax status and owns his media businesses through a complex structure of offshore holdings and trusts.[4]. Journalism in Britain is under threat. 3: . 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Harmsworth Trust Company (PTC) Limited (Trust Company), a private trust company organized Can Nigeria's election result be overturned? The Trust Company is a special purpose entity, the principal business of which is the management of The aristocrat is mulling. [18], Jonathan Harmsworth, 4th Viscount Rothermere. The address of the principal business office of each of the Reporting Persons and the Control Slaughter and May is advising Daily Mail and General Trust plc (DMGT) on the reorganisation of DMGT, which comprises a cash offer by Rothermere Continuation Limited (RCL) for all the non-voting shares in DMGT (DMGT A Shares) not already owned by RCL (the Offer), and a proposed special distribution to all shareholders of DMGT (the Special Dividend). He said he tried to "protect the independence" of editorial staff, and said Daily Mail editor Paul Dacre ensured the paper "reflects the views of his readership" - which he agreed were accurately described as "the values of Middle England". Read about our approach to external linking. Our mission is to hold the powerful to account. 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). Please contact us if you find an error in the database. 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. 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 . 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. The issuer is solely responsible for the content of this announcement. Rothermere Continuation Limited Company Profile, Financial and Daily Mail & General Trust chairs family would buy about 70% of group that it does not already own. Rothermere mulls taking Daily Mail and General Trust private in 810m HSR Resources. 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. Astonishing tale of corporate hubris, or a simple matter of 1934, Class A Ordinary Shares, par value $0.0001, (Name, Address and Telephone Number of Person Authorized This Schedule 13D is being filed by and on behalf of each of the following persons (each, a Reporting [6], He was a supporter of the former Conservative Party leader David Cameron. In evidence to the Leveson Inquiry into press culture, practice and ethics, he stated his role was not to "operationally manage" the company. beneficially owned by it, Rothermere beneficially owned (and continues to own) all of the DMGT ordinary shares. It follows negotiations between DMGT, Rothermere Continuation Limited (RCL) and pension trustees, with the company agreeing to inject 412m into its various pension schemes as part of the offer. 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, said Rothermere. Our History - DMGT 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". We suggest you confirm the identities of any individuals or entities included in the database based on addresses or other identifiable information. 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. On November 3, 2021, Rothermere formally made an offer to the other shareholders of DMGT to 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. Mr Miliband said the apology was not enough and said Lord Rothermere must investigate the "culture and practices" of journalists at his newspapers. Our appraised valuation estimate of only the largest businesses within DMGT materially exceeds double the current offer price of 255p. Lord Rothermere finalises deal to take DMGT private - Press Gazette SEC.gov | HOME What did your Dad do? ': 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? Rothermere family offers 3.1bn to take Daily Mail owner private Business Phone: 44 (0) 1534 870670. was conditional on the increased offer becoming or being declared unconditional. Rothermere Continuation Limited (RCL) is a holding company incorporated in Bermuda. Market Tracker will continue to monitor this transaction as it develops. Daily Mail and General Trust plcTel: +44 (0) 20 7938 6000, Northcliffe House2 Derry StreetLondonUnited KingdomW8 5TT, Copyright 2022 Daily Mail and General Trust plc | Registered in England & Wales | Company number: 184594, Modern Slavery Act Transparency Statement. The Rothermere family is the largest shareholder with a 36 per cent stake in DMGT, which has been listed on the stock market since 1932. Rothermere Continuation Limited (RCL) announced, 22 September, that it had decided to make changes to the composition of the DMGT Board. | March 3, 2023 The Reporting Persons intend to review on a continuing basis their investments who owns rothermere continuation limited HSR Annual Reports. RCL said the decision comes after . Sc 13d/A The Control Persons are special purpose entities, the principal business of each being the management of certain 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). 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 a Group (See Instructions) (a) o(b) o, Check if disclosure of legal proceedings Daily Mail owner DMGT close to 400m pension deal 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. 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 Lord Rothermere was educated at Gordonstoun School and Duke University.[2]. 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. DMGT Plc - Not your typical UK Plc Rothermere is the legal owner of most Investors - DMGT What's the least amount of exercise we can get away with? DMGT is listed on the London Stock Exchange. With this in mind, the Mail shared their outrage at the apparent lack of tax fairness. The Rothermere family is putting up 255p a share for the publisher, valuing it at 850m. DMGT participates in a funding round in October 2020, valuing its c. 20% fully-diluted stake in Cazoo at 0.4 billion. It would include an injection of about . 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. 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. Rothermere Declaration of Trust, a discretionary trust organized under the laws of Jersey (Trust 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. and/or other shareholders or other relevant parties from time to time with respect to operational, strategic, financial or governance certain assets on behalf of Viscount Rothermere and his immediate family. 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. General Register Office of England and Wales, Marriages, September quarter 1993, Westminster, Vol 15, page 1798. 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. Like Mr Dacre, he told the inquiry there had been no phone hacking by journalists at the company's papers, and argued that self-regulation "protects the press from political interference". They outlined ten key questions the chancellor should answer regarding the tax scandal. 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 Market Tracker is a unique service for corporate lawyers housed within LexisPSL Corporate. Lord Rothermere to take charge of DMGT as CEO steps down Euromoney acquires Metal Bulletin, the industry-leading intelligence service for metals and steel professionals. . 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. Rothermere Continuation Limited (RCL) announced, 22 September, that it had decided to make changes to the composition of the DMGT Board. 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. 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. KEY INFORMATION (a) Full name of discloser: Rothermere . Daily Mail and General Trust has been reorganising the business through disposals and targeted acquisitions. Under the Securities Exchange Act of One change he has instituted since becoming chairman is requiring directors to retire at age 75. the Ordinary Shares referred to in Item 3 as a result of the Special Dividend and hold the Ordinary Shares for investment purposes. in the Issuer. Viscount Rothermere is also on the board of 7 other companies. on Schedule13G to report the acquisition that is the subject of this Schedule13D, and is filing this schedule because of 240.13d-1(e), What has happened to the once-great British Airways? 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. DMGT sells its remaining stake in the company. Including the Special Dividend and the 2021 Proposed Final Dividend, the Offer values DMGT at about 3.1 billion. defined below) which constitute approximately .2% of the class outstanding. Viscount Rothermere buys 100% of the voting shares in DMGT. DMGT acquires Landmark, a UK business that provides services to help reduce the risk associated with commercial and residential property transactions. The Fourth Viscount Rothermere, Jonathan Harmsworth appointed DMGT Chairman. While discussions are ongoing and there can be no certainty that a transaction will result . Rothermere was incorporated in Jersey and is a resident in Jersey. Founding family of UK's Daily Mail mulls taking it private - Yahoo! the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. He provided Lord Leveson with details of numerous lunches and dinners with politicians including Tony Blair, Gordon Brown, David Cameron and Nick Clegg. ROTHERMERE CONTINUATION LIMITED | ICIJ Offshore Leaks Database What I think will be embarrassing for the Mails Editor is the Mail is owned by the Rothermere family.