who owns rothermere continuation limited who owns rothermere continuation limited

It is also seeking assurances that the groups pension schemes will not be affected by the takeover. RCL is owned by a trust for the benefit of theViscount Rothermere and his immediate family.In return, the Trust will receive non-voting "A" ordinary shares,at a ratio of 112.5 non-voting "A" ordinary shares for every 100ordinary voting shares held. Majedie Asset Management, one of DMGTs largest shareholders controlling 4.6% of the companys class A shares, said that the business is worth at least twice the price offered. General Register Office of England and Wales, Births, Register number C95C, Entry number 140, Westminster. RCL owns around. The Fourth Viscount Rothermere, Jonathan Harmsworth appointed DMGT Chairman. It was, however, small when compared to the Viscount Rothermeres net worth. out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent on Schedule13G to report the acquisition that is the subject of this Schedule13D, and is filing this schedule because of 240.13d-1(e), 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. 1998 RMS joins DMGT DMGT acquires Risk Management Solutions, a fast-growing business in the emerging catastrophe risk modelling sector. The move would give Rothermere, who is also chairman of the group, full control of DMGT and take the company off the stock exchange. Early Termination Updates on Twitter. [17] Rothermere confirmed this in his testimony to the Leveson Inquiry. 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. distributed on December 30, 2021). position, change their purpose, take other actions or formulate and implement plans or proposals with respect to any of the foregoing. 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. 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. . We only ask you to donate what you can afford, with an option to cancel your subscription at any point. o. During the last five years, none of the Reporting Persons or the Scheduled Persons has been convicted But we can't do it without you. The recommended offer comes after the completion of a number of pre-conditions that were specified in RCLs July approach; the 1.4bn sale of DMGTs insurance risk division, the float of online car retailer Cazoo via a merger with SPAC Ajax I on the New York Stock Exchange and the reaching of a settlement with DMGTs pension scheme trustees. In accordance with the provisions of General Instruction 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. On December 16, 2021, it was announced that sufficient acceptances had been received for the offer to become DMGT acquires the i, a quality, concise UK national newspaper and website. 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". Including the Special Dividend and the 2021 Proposed Final Dividend, the Offer values DMGT at about 3.1 billion. 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). * The remainder of this cover page shall be filled Some information may have changed over time. Rothermere Continuation Ltd is the vehicle of DMGT's biggest shareholder Jonathan Harmsworth, Viscount. 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'. are collectively referred to herein as the Filers). 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. 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 Person and, collectively, the Reporting Persons): Rothermere Continuation Limited (Rothermere), a private limited company organized under Rothermere is also a special purpose entity, the principal 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. Ten of Scotland's major newspapers are owned by just three men: Rupert Murdoch, Lord Rothermere and Frederick Barclay. 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. During the last five years, none of the Reporting Persons or the Scheduled Persons has been a party to The cash proceeds of the deals 610p a share would be distributed to DMGT shareholders through a special dividend. 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. The TLE shop is also now open, with all profits going to supporting our work. Each of the Filers may be required Original reporting and incisive analysis, direct from the Guardian every morning. 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. 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. 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). to a judgment, decree of final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state Story . Rothermere Continuation Ltd. (RCL . block sales or otherwise or pursuant to ordinary stock exchange transactions effected through one or more broker-dealers whether individually DMGT delists from the London Stock Exchange following a successful offer by RCL for all of DMGTs shares. the British Virgin Islands; and. The Daily Mail owner said . 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. This Schedule 13D is being filed by and on behalf of each of the following persons (each, a Reporting Our mission is to hold the powerful to account. After the sale of the financial assets, RCL would bid about 810m for the. involving the Issuer, which occurred on August 26, 2021. When DMGT is taken private it will leave Reach the parent company of the Mirror, Express and Star national titles, and regional publications such as the Manchester Evening News as the only major UK newspaper group remaining as a publicly listed company on the London Stock Exchange. 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 Check if the Aggregate Amount in who owns rothermere continuation limited. Many people and entities have the same or similar names. Always cite the International Consortium of Investigative Journalists when using this data. This Joint Filing Agreement, dated 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. 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. Consideration: Beneficial ownership The company was incorporated in 1995 and is based in Hamilton, Bermuda. DMGT owns a 17% stake in Cazoo, worth about 1bn (745m). The Reporting Persons acquired However, the publisher of the Daily Mail said a potential offer was contingent on a number of factors, including a planned sale of DMGTs insurance risk business Risk Management Solutions, and the sale of its stake in the online car retailer Cazoo, which was valued at $7bn (5bn) after being snapped up by a special purpose acquisition company (Spac) in March. The Control Persons are special purpose entities, the principal business of each being the management of certain DMGT was founded by Harold Sidney Harmsworth, the first Viscount Rothermere, in 1922. Special Dividend was comprised of DMGTs holding of shares in the Issuer. HSR Early Termination Notices API Endpoint. Asked why politicians wanted to meet him, he said they "sometimes feel the paper's been hard on them" and asked him to "have some sort of influence". was conditional on the increased offer becoming or being declared unconditional. (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 . . View our Privacy PolicyandTerms & Conditions, TheLondonEconomic.com Open, accessible and accountable news, sport, culture and lifestyle. 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. What I think will be embarrassing for the Mails Editor is the Mail is owned by the Rothermere family. According to the International Business Times: "The Daily Mail owner did not deny claiming tax concessions as "non-dom", though he insisted this was because his father had lived in France. DMGT is listed on the London Stock Exchange. of the Ordinary Shares was acquired as part of the Special Dividend (as defined below) which was declared pro rata to all of the 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 . Rule 13(d)(1)(k) promulgated under the Securities Exchange Act of 1934, as amended, the Filers hereby agree to file a single statement [12], Rothermere married Claudia DeVriese, daughter of Terence J. Clemence, on 15 July 1993. DMGT participates in the successful Zoopla Property Group IPO and sells 40% of its stake. DMGT, being a subsidiary of Rothermere, has the right to appoint a director to the Issuers board 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 See Items 7-11 of the cover pages and Item 2 above. Item 3. Euromoney acquires Metal Bulletin, the industry-leading intelligence service for metals and steel professionals. the Ordinary Shares referred to in Item 3 as a result of the Special Dividend and hold the Ordinary Shares for investment purposes. Combined with the 255p a share offer, the overall deal to take DMGT private is 3.1bn. 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. The Daily Mail was first. The group owns i, which has complete editorial independence, and also recently acquired New Scientist. 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. in Jersey. Autore dell'articolo: Articolo pubblicato: 16/06/2022; Categoria dell'articolo: rockin' the west coast prayer group; 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. DMGTs c.17% fully-diluted stake valued at 0.9 billion. DMGT was founded by Harold Sidney Harmsworth, the first Viscount Rothermere, in 1922. 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. DMGT acquires Risk Management Solutions, a fast-growing business in the emerging catastrophe risk modelling sector. 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. taking the firm private after 89 years on the London Stock Exchange, 'How bad are the pics? 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. 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. 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. Photo by Pete Harlow, Wikimedia Commons (Creative Commons licence CC BY-SA 3.0).. 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 third precondition was reaching agreement with DMGTs pension trustees which has resulted in a 412m payment into its three main schemes. 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. 1998 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. 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. Lord Rothermere is also the fourth member of his family to become executive chairman of the group. Daily Mail and General Trust PLC ( LON:DMGT ) is set to be taken private again by its owner Rothermere Continuation if two other bits of corporate reshuffling go ahead. It means that the deal is not at risk of facing opposition if a deal is put to a shareholder vote. 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 best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. The records cover more than 80 years up to 2020 and link to people and companies in more than 200 countries and territories. Following its transformation into a US-based EdTech business, Hobsons is sold for c.US$410m cash. On Since you are here, we wanted to ask for your help. The Offer was announced on 3 November 2021, and it is expected to become or be declared unconditional on 16 December 2021. ", "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. 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. 1998 Metro Metro is launched as a free newspaper serving urban markets across the UK. A DMGT spokesman would only say the 4th Viscounts domicile status was a private matter. include a signed original and five copies of the schedule, including all exhibits. Note: Schedules filed in paper format shall Rothermere Continuation Limited. Notices and Communications), (Date of Event Which Requires Filing of this Statement), If the filing person has previously filed a statement The potential deal would place the Daily Mail and its sister titles squarely in the hands of. 1934, Class A Ordinary Shares, par value $0.0001, (Name, Address and Telephone Number of Person Authorized Executed and delivered as of the date first above 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? The unconditional in all respects, satisfying the condition to the declaration of the Special Dividend. who owns rothermere continuation limited. is required pursuant to Items 2(d) or 2(e): o, Aggregate Amount Beneficially Owned Trust 2 is a Control Person with respect to Rothermere. 760,872,476 outstanding shares of Ordinary Shares of the Issuer, based on information received from the Issuer prior to filing. | March 3, 2023 and is a resident in Jersey. What has happened to the once-great British Airways? Rothermere Continuation Limited (RCL) is a holding company incorporated in Bermuda. in its capacity as a legal shareholder of DMGT ordinary shares. 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%. The percentage calculation assumes that there are currently The independent directors have indicated they would be minded to recommend the possible offer to DMGTs shareholders, the company said. 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. 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. 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 potential agreement with the pension trustees of DMGT's three schemes could pave the way for a buyout of the company by Rothermere, which would see it move to . 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. The second precondition was cleared when the online used car seller Cazoo made its $6bn stock market debut in New York. HSR Resources. We suggest you confirm the identities of any individuals or entities included in the database based on addresses or other identifiable information. 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. 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. MailOnline, launched in 2003, has grown to be one of the worlds most popular English language news sites. dmg events is formed (under a different name) to manage and develop a portfolio of events assets. The Trust Company is a special purpose entity, the principal business of which is the management of Company. Can Nigeria's election result be overturned? DMGT participates in a funding round in October 2020, valuing its c. 20% fully-diluted stake in Cazoo at 0.4 billion. 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. Persons, any Scheduled Persons, has effected any transaction in the Ordinary Shares during the last 60 days. And just like his hereditary title, this status passed as a domicile of origin Jonathan when he was born in 1967. 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 The current Lord Rothermeres father loved Great Britain so much he went to live in France as a tax exile. In accordance with the provisions of General Instruction C to Schedule 13D, The Trust Company holds Ordinary Shares on behalf of Rothermere because it received these 1 2023 BBC. (a) Full name of discloser: Rothermere Continuation Limited ("RCL ")(b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. securities laws or finding any violation with respect to such laws. information concerning each executive officer, director or trustee (as applicable) of the Reporting Persons and of the Control Persons 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. business of which is being the holding company of Daily Mail and General Trust plc (DMGT), a media and entertainment In each case, The Mail on Sunday is launched as a sister title to the Daily Mail. Trust 2 is a British Virgin Islands law trust 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. 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. [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. Daily Mail & General Trust chairs family would buy about 70% of group that it does not already own. This website is for Private Investors* only. 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. DMGT sells its remaining stake in the company. DMGT sells RMS for approximately 1.4 billion in cash. 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. herewith). General Register Office of England and Wales, Births, Register number A65C, Entry number 255, Westminster. Persons is 35-37 New Street, St Helier, Jersey JE2 3RA. Rothermere was incorporated in Jersey and is a resident in Jersey. 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. Last edited on 11 February 2023, at 21:23, "Rothermere: 'DMGT remains committed to journalism', "How much is Daily Mail owner Lord Rothermere worth? 2 in Row (11), Type of Reporting Person (See Instructions). DMGT shareholders on June 23, 2022 (the cash element of the Special Dividend having been 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. The address of the principal business office of each of the Reporting Persons and the Control 1 Level of acceptances and interests in relevant securities. conjunction with Rothermeres offer to the other DMGT shareholders for the shares in DMGT not already beneficially owned by This Joint Filing Agreement may [6], He was a supporter of the former Conservative Party leader David Cameron. Lord Rothermere, executive chairman of RCL said of the deal: 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.. Prior to Rothermeres acquisition of the shares in DMGT not already Start sales research here. Northcliffe Newspapers is sold to regional newspaper publisher Local World. 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. written. 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. made an offer to the other shareholders of DMGT to acquire from them those shares in DMGT not already beneficially owned by Rothermere. You can also SUBSCRIBE TO OUR NEWSLETTER . and the Issuer share element of the Special Dividend was distributed to Rothermere and to the former Contact Info. 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. All rights reserved. The former employee said Mr Greig had been brought in because he had a "softer" approach than Mr Dacre, but the result was intense competition between the Daily Mail and the Mail on Sunday - driven by their "warring editors". 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