who owns rothermere continuation limited who owns rothermere continuation limited

are collectively referred to herein as the Filers). 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. Rothermere is also a special purpose entity, the principal and the Issuer share element of the Special Dividend was distributed to Rothermere and to the former 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. o. On Always cite the International Consortium of Investigative Journalists when using this data. Last edited on 11 February 2023, at 21:23, "Rothermere: 'DMGT remains committed to journalism', "How much is Daily Mail owner Lord Rothermere worth? What did your Dad do? We do not charge or put articles behind a paywall. 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. Journalism in Britain is under threat. The 1 Level of acceptances and interests in relevant securities. 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. Trust 2 is a Control Person with respect to Rothermere. We give you the access and tools to invest like a Wall Street money manager at a Main Street price. 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. And just like his hereditary title, this status passed as a domicile of origin Jonathan when he was born in 1967. Free trials are only available to individuals based in the UK. During the last five years, none of the Reporting Persons or the Scheduled Persons has been a party to Our mission is to hold the powerful to account. General Register Office of England and Wales, Marriages, September quarter 1993, Westminster, Vol 15, page 1798. its lenders and currently intends to grant a negative pledge over the Ordinary Shares if that facility is finalized. 2 RCL is owned by a trust (Trust) which is held for the benefit of Lord Rothermere and his immediate family. . written. 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. 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. This post is by Guy Shrubsole. 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. DMGT officially delisted and cancelled trading from the London Stock Exchange, ending its 90 year history.Perhaps this tweet sums it up? 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. 1). It would include an injection of about . 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 of the Ordinary Shares was acquired as part of the Special Dividend (as defined below) which was declared pro rata to all of the . 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". Viscount Rothermere currently serves on ': 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? Viscount Rothermere is also on the board of 7 other companies. 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. RCL said the decision comes after "the . 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. 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". 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. One change he has instituted since becoming chairman is requiring directors to retire at age 75. DMGT officially delisted. 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. | March 3, 2023 14, 2022, the date when the Issuers resale registration statement was declared effective by the SEC. Pursuant to and in accordance with Rothermere may communicate with the board of directors of the Issuer (the Board), members of management General Register Office of England and Wales, Births, Register number E60C, Entry number 038, Westminster. December 2, 2021, Rothermere formally made an increased offer for those same shares. 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. You can download a raw copy of the database here. Metro is launched as a free newspaper serving urban markets across the UK. 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. Image: The Cerne Abbas Giant, owned by the National Trust. 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. Except as set forth in Item 3 above, none of the Reporting Persons or, to the best knowledge of the Reporting Trust 2 is a British Virgin Islands law trust 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. ST. HELIER Y9 JE2 3RA. He set up the Daily Mail with his brother Alfred in 1896, and subsequently launched the Daily Mirror. Euromoney acquires Metal Bulletin, the industry-leading intelligence service for metals and steel professionals. Combined with the 255p a share offer, the overall deal to take DMGT private is 3.1bn. (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. 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? The independent directors have indicated they would be minded to recommend the possible offer to DMGTs shareholders, the company said. 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. 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 Autore dell'articolo: Articolo pubblicato: 16/06/2022; Categoria dell'articolo: rockin' the west coast prayer group; Rothermere. The share element of the securities laws or finding any violation with respect to such laws. 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 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 accordance with the provisions of General Instruction C to Schedule 13D, The ICIJ Offshore Leaks Database is licensed under the Open Database License and contents under Creative Commons Attribution-ShareAlike license. 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. The Special Dividend was declared by DMGT in Consideration: Beneficial ownership the increased offer were satisfied in due course, including the declaration of the Special Dividend, 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. and/or other shareholders or other relevant parties from time to time with respect to operational, strategic, financial or governance Early Termination Updates by email. They outlined ten key questions the chancellor should answer regarding the tax scandal. HSR Early Termination Notices API Endpoint. 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. DMGT participates in the successful Zoopla Property Group IPO and sells 40% of its stake. 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. executive offices at 41 Chalton Street, London, NW1 1JD, United Kingdom. The offer follows from Rothermeres approach in July 2021 (see: Daily Mails controlling shareholder indicates possible bid) which offered shareholders 2.51 per share and a special dividend of 6.10 and Cazoo shares. General Register Office of England and Wales, Births, Register number C95C, Entry number 140, Westminster. Rothermere Continuation Trust (Trust 2), a discretionary trust organized under the laws of Harmsworth held various positions in Associated Newspapers and was managing director of the Evening Standard, when the sudden death of his father in 1998 resulted in his becoming the controlling shareholder[3] and chairman of Associated and of its parent Daily Mail and General Trust just before his 31st birthday. [12], Rothermere married Claudia DeVriese, daughter of Terence J. Clemence, on 15 July 1993. 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'. to which this statement on Schedule 13D (this Schedule 13D) relates is the Class A ordinary shares, par value $0.0001 per Lord Rothermere appeared third on the Sunday Times Rich List "media top 20" in 2012, with an estimated wealth of 760m. in the Issuer. He has non-domicile (non-dom) tax status and owns his media businesses through a complex structure of offshore holdings and trusts.[4]. I am a private investor* I am not a private investor I am not a private investor C to Schedule 13D, each person controlling such Reporting Persons, as described herein (each, a Control Person and, collectively, 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. On November 3, 2021, Rothermere formally made an offer to the other shareholders of DMGT to Updated 9th Feb 2020 with more on Richard Drax and Viscount Rothermere.. Dorset is, I think, the loveliest and most intriguing of English counties: a place of ancient chalk downland that sprouts orchids and chalk figures . Trust 1 is a Jersey law trust and is a resident MailOnline, launched in 2003, has grown to be one of the worlds most popular English language news sites. 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. 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. What's the least amount of exercise we can get away with? [8] In April 2015, The Sunday Times estimated his net worth at 1 billion. 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. Item 6. See Rule 13d-7 for other parties to whom copies are Home > Uncategorized > who owns rothermere continuation limited. was conditional on the increased offer becoming or being declared unconditional. Both RCL and the trust are administered in Jersey, in the Channel Islands". L Catterton is 60% owned by the partners of L Catterton . 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. The Third Viscount Rothermere, Vere Harmsworth, appointed DMGT Chairman. 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. DMGT, being a subsidiary of Rothermere, has the right to appoint a director to the Issuers board Start sales research here. 240.13d-1(f) or 240.13d-1(g), check the following box. 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. Rothermere. in Jersey. Executed and delivered as of the date first above He is the chairman and controlling shareholder of the Daily Mail and General Trust, formerly "Associated Newspapers", a media conglomerate which includes the Daily Mail. 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 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 . Premerger/HSR Press Releases. 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. 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. 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? 1934, Class A Ordinary Shares, par value $0.0001, (Name, Address and Telephone Number of Person Authorized [17] Rothermere confirmed this in his testimony to the Leveson Inquiry. 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 information required on the remainder of this of the DMGT ordinary shares and the remaining DMGT ordinary shares are legally held by the Trust Company as nominee for Rothermere. Premerger Notification Office Blog Posts. by Each Reporting Person, Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)o, Percent of Class Represented by Amount shareholders and, amongst other things, a special dividend (comprising cash and the shares in the Notices and Communications), (Date of Event Which Requires Filing of this Statement), If the filing person has previously filed a statement 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. matters. Together, the Trust The cash proceeds of the deals 610p a share would be distributed to DMGT shareholders through a special dividend. [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. By living as a tax exile in Paris for most of his life, the 3rd Viscount had become non-domiciled for British tax purposes. 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 . Virgin Islands and is a resident in Jersey. The move would give Rothermere, who is also chairman of the group, full control of DMGT and take the company off the stock exchange. who owns rothermere continuation limited. Read about our approach to external linking. 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. or utilizing specific pricing or other instructions (including by means of Rule10b5-1programs), and review or reconsider their Some information may have changed over time. 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. Market Tracker will continue to monitor this transaction as it develops. The takeover will require shareholder acceptances in respect of 90% of DMGTs A shares in issue and should the deal proceed, will consolidate Lord Rothermeres control over the publisher. He set up the Daily Mail with his brother Alfred in 1896, and subsequently launched the Daily Mirror. Person and, collectively, the Reporting Persons): Rothermere Continuation Limited (Rothermere), a private limited company organized under While discussions are ongoing and there can be no certainty that a transaction will result . Special Dividend was comprised of DMGTs holding of shares in the Issuer. 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". Rothermere Continuation Limited (RCL) announced, 22 September, that it had decided to make changes to the composition of the DMGT Board. Company. Well, Daily Mailproprietor Lord Rothermere is also a famous exponent of non-dom tax rules. the Ordinary Shares referred to in Item 3 as a result of the Special Dividend and hold the Ordinary Shares for investment purposes. [18], Jonathan Harmsworth, 4th Viscount Rothermere. The company was incorporated in 1995 and is based in Hamilton, Bermuda. 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 . Use our commercial database of more than 120 million business records & industry directory for company research & industry analysis. 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 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. The Rothermere family has made an offer to take the publisher of the Daily Mail, i and Metro private in a 3.1bn deal, in a move that will end a 90-year run as a publicly listed company on the London Stock Exchange. There are legitimate uses for offshore companies and trusts. Despite a reported personal fortune of around 800m, Viscount Rothermere turned to his bankers for loans. Lord Rothermere is already the controlling shareholder of DMGT through a 28% stake owned by his family trust, RCL. HSR Resources. 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. 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. 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. cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (the Act) on Schedule13G to report the acquisition that is the subject of this Schedule13D, and is filing this schedule because of 240.13d-1(e), 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. 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 . 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. 1998 Metro Metro is launched as a free newspaper serving urban markets across the UK. The third precondition was reaching agreement with DMGTs pension trustees which has resulted in a 412m payment into its three main schemes. It is also seeking assurances that the groups pension schemes will not be affected by the takeover. Brothers Alfred and Harold Harmsworth edit, produce and oversee the launch of the Daily Mail. 2/11/21. Rothermere is currently negotiating a new finance facility with one of a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject The second precondition was cleared when the online used car seller Cazoo made its $6bn stock market debut in New York. Each of the Filers may be required The Right Honourable Jonathan Harold Esmond Vere Viscount