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? DMGT acquires Landmark, a UK business that provides services to help reduce the risk associated with commercial and residential property transactions. The issuer is solely responsible for the content of this announcement. Lord Rothermere was educated at Gordonstoun School and Duke University.[2]. Note: Schedules filed in paper format shall 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. business. General Register Office of England and Wales, Marriages, September quarter 1993, Westminster, Vol 15, page 1798. The Daily Mail was first. ROTHERMERE CONTINUATION LIMITED Company Number EXTUID_22647 Native Company Number 41260 Status Live Incorporation Date 7 July 1988 (over 34 years ago) Company Type RC - Registered Private Company Jurisdiction Jersey Registered Address 35-37 New Street St Helier Jersey JE2 3RA Jersey Previous Names BLACKSEA HOLDINGS LIMITED Harmsworth, the 3rd Viscount Rothermere. There are legitimate uses for offshore companies and trusts. Metro is launched as a free newspaper serving urban markets across the UK. Lord Rothermere, the biggest shareholder in the owner of the Daily Mail, has agreed an 850m buyout that will see the group taken private after 89 years on the stock market. On and is a resident in Jersey. The company was incorporated in 1995 and is based in Hamilton, Bermuda. on Schedule 13G and/or 13D (and any amendments thereto) on behalf of each of such parties, and hereby further agree to file this Joint He set up the Daily Mail with his brother Alfred in 1896, and subsequently launched the Daily Mirror. agree. It would include an injection of about . While discussions are ongoing and there can be no certainty that a transaction will result . shareholders of DMGT for which a date of distribution of the share element of the dividend was determined and communicated on June Rothermere Continuation Ltd is the vehicle of DMGT's biggest shareholder Jonathan Harmsworth, Viscount. Esmond Harmsworth, son of Harold Harmsworth and the second Viscount Rothermere appointed DMGT Chairman. Material to Be Filed as Exhibits Item 7 of the Schedule 13D is amended and supplemented as follows: 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. Just as Harold Harmsworth aka 1st Viscount Rothermere, used the Daily Mail to condition its readers with fascist and antisemitic articles throughout the 1930s, Jonathon Harmsworth u DMGT acquires the i, a quality, concise UK national newspaper and website. All rights reserved. 1998 Metro Metro is launched as a free newspaper serving urban markets across the UK. 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 . 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). Source and Amount of Funds or Other distributed on December 30, 2021). The reporting person is the beneficial owner of 1,437,250 shares of the Issuers Ordinary Shares (as DMGT was founded by Harold Sidney Harmsworth, the first Viscount Rothermere, in 1922. What's the least amount of exercise we can get away with? * The remainder of this cover page shall be filled 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? 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. 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. The. its lenders and currently intends to grant a negative pledge over the Ordinary Shares if that facility is finalized. Pursuant to and in accordance with Read about our approach to external linking. 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 . On 12 July 2021, Daily Mail and General Trust plc (DMGT) announced that Rothermere Continuation Limited (RCL), a Bermuda registered company owned by a trust held for the benefit of Viscount Rothermere and his immediate family (DMGT's controlling shareholder), would be prepared to make a possible offer for the entire issued and to be issued share capital of DMGT should certain transactions . Offer is for 64% of DMGT, which also publishes the i and Metro, that Rothermeres do not already own. 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. Lord Rothermere, chairman of DMGT and director of RCL, said: The sale of RMS and the Cazoo IPO have delivered excellent shareholder returns, but inevitably DMGT is now a considerably smaller group of businesses, with significantly greater exposure to consumer media. Rothermere Continuation Ltd. (RCL . Under the Securities Exchange Act of We suggest you confirm the identities of any individuals or entities included in the database based on addresses or other identifiable information. Please contact us if you find an error in the database. Daily Mail & General Trust PLC - London-based newspaper publisher, including Daily Mail, Metro and i - Rothermere Continuation Ltd says Friday it owns or has acceptances for its takeover offer for . View our Privacy PolicyandTerms & Conditions, TheLondonEconomic.com Open, accessible and accountable news, sport, culture and lifestyle. RCL owns around. 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. 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. Rule 13(d)(1)(k) promulgated under the Securities Exchange Act of 1934, as amended, the Filers hereby agree to file a single statement 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 current Lord Rothermeres father loved Great Britain so much he went to live in France as a tax exile. The class of equity security Euromoney Magazine is launched as a business-to-business magazine focused primarily on the international finance sector. 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 [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. Since you are here, we wanted to ask for your help. Rothermere Continuation Limited (RCL) announced, 22 September, that it had decided to make changes to the composition of the DMGT Board. General Register Office of England and Wales, Births, Register number A65C, Entry number 255, Westminster. 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. Check if the Aggregate Amount in 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. Rothermere Continuation Limited. The data comes directly from the leaked files ICIJ has received in connection with various investigations and each dataset encompasses a defined time period specified in the database. Always cite the International Consortium of Investigative Journalists when using this data. 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. defined below) which constitute approximately .2% of the class outstanding. 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. Contracts, Arrangements, Understandings DMGT participates in a funding round in October 2020, valuing its c. 20% fully-diluted stake in Cazoo at 0.4 billion. This morning, "DMGT announced that its controlling shareholder, Rothermere Continuation Limited (RCL), had notified it of a possible offer for the entire share capital of DMGT not already owned by RCL. 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". 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. 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. The Special Dividend comprises cash and the shares DMGT owns in NYSE-listed Cazoo Group Limited. 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. Lord Rothermere appeared third on the Sunday Times Rich List "media top 20" in 2012, with an estimated wealth of 760m. as of June 24, 2022, is by and among Rothermere Continuation Limited and Harmsworth Trust Company (PTC) Limited (the foregoing LIMIT THE USE OF MY SENSITIVE PERSONAL INFORMATION. 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. Journalism in Britain is under threat. Some information may have changed over time. 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. to Receive HSR Annual Reports. Under the proposed deal, which is contingent on selling the RMS unit, Rothermere Continuation Ltd. would pay 251 pence per share in cash and a special dividend valued at about 610 pence per share which includes cash from the asset sale and a distribution of stock in online auto-marketplace startup Cazoo the London-based company said in . General Register Office of England and Wales, Births, Register number C95C, Entry number 140, Westminster. 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, MailOnline, launched in 2003, has grown to be one of the worlds most popular English language news sites. 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 . Despite a reported personal fortune of around 800m, Viscount Rothermere turned to his bankers for loans. In accordance with the provisions of General Instruction RCL is owned by a trust (Trust) which is held for the benefit of Lord Rothermere and his immediate family. Well, Daily Mailproprietor Lord Rothermere is also a famous exponent of non-dom tax rules. 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. Our appraised valuation estimate of only the largest businesses within DMGT materially exceeds double the current offer price of 255p. 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". 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 Third Viscount Rothermere, Vere Harmsworth, appointed DMGT Chairman. 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. to which this statement on Schedule 13D (this Schedule 13D) relates is the Class A ordinary shares, par value $0.0001 per Oddly enough it's feminists, One of the UK's smallest towns has an award-winning pub and England's oldest fishing society, The golden health rules GPs live by, including why you should ditch your weekend lie-ins, Where to get Greatest Hits Radio on FM and DAB and when Ken Bruce starts, The Government delay of the Pensions Dashboard may well cost you tens of thousands of pounds, Government WhatsApp decision-making threatens 'accountability', warns Information Commissioner, Prince Harry says smoking marijuana 'helped him mentally' in live TV interview, Government set to introduce new powers to crack down on small boat crossings next week, Hopes to discover 'thousands' of planets with signs of alien life in next 20 years, Do not sell or share my personal information. . 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. 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.. Both RCL and the trust are administered in Jersey, in the Channel Islands". The Rothermere family already own just over a third of DMGT and 100% of the company's voting rights. 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. They are all billionaires who, personally or through their businesses, have used the law to avoid paying tax. 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? DMGT acquires Genscape, an energy information business. The Trust Company holds Ordinary Shares on behalf of Rothermere because it received these 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. We do not charge or put articles behind a paywall. 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. Free trials are only available to individuals based in the UK. the laws of Jersey; and. the Notes). The Control Persons are special purpose entities, the principal business of each being the management of certain The Daily Mail was first. 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. The Fourth Viscount Rothermere, Jonathan Harmsworth appointed DMGT Chairman. 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. He has non-domicile (non-dom) tax status and owns his media businesses through a complex structure of offshore holdings and trusts.[4]. C to Schedule 13D, each person controlling such Reporting Persons, as described herein (each, a Control Person and, collectively, 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. to a judgment, decree of final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state Viscount Rothermere currently serves on 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. Story . Both RCL and the Trust are administered in Jersey, in the Channel Islands. out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent 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. The Daily Mail is owned by billionaire, Jonathan Harmsworth (DMGT Media), 4th Viscount Rothermere, great-grandson of it's founder, Harold Sidney Harmsworth who was close friends with Benito Mussolini and Adolf Hitler. 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. 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. The Special Dividend was declared by DMGT in The Reporting Persons acquired Mr Miliband said the apology was not enough and said Lord Rothermere must investigate the "culture and practices" of journalists at his newspapers. 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". 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. 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. After the sale of the financial assets, RCL would bid about 810m for the. Premerger Notification Office Blog Posts. FORM 8 (OPD) PUBLIC OPENING POSITION DISCLOSURE BY A PARTY TO AN OFFER Rules 8.1 and 8.2 of the Takeover Code (the "Code") 1. [8] In April 2015, The Sunday Times estimated his net worth at 1 billion. rothermere continuation ltd. 35-37 NEW STREET. 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. For a trust, the trustee(s), settlor and beneficiaries must be named. 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 (RCL) is a holding company incorporated in Bermuda. 2: Check the Appropriate Box if a Member of a Group (See Instructions) (a) o (b) o. 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. DMGT acquires Trepp, a US-based business providing valuation and data solutions for the commercial mortgage-backed securities (CMBS) market. to be sent. The independent directors have indicated they would be minded to recommend the possible offer to DMGTs shareholders, the company said. However, if a deal is completed, the sale would take place in the third quarter of 2021, said the company, which owns the British newspaper, the Daily Mail. 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. [17] Rothermere confirmed this in his testimony to the Leveson Inquiry. See 2(a) and 3 below (c) Name of offeror/offeree in relation to whose relevant securities this form relates: 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. [12], Rothermere married Claudia DeVriese, daughter of Terence J. Clemence, on 15 July 1993. Company. On December 16, 2021, it was announced that sufficient acceptances had been received for the offer to become acquire from them those shares in DMGT not already beneficially owned by Rothermere. He said he would usually "refer them back to Paul Dacre" but would sometimes raise an issue with the editor if a complaint appeared to have "merit". 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. . RCL said the decision comes after . certain assets on behalf of Viscount Rothermere and his immediate family. 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. was conditional on the increased offer becoming or being declared unconditional. 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".

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