And just like his hereditary title, this status passed as a domicile of origin Jonathan when he was born in 1967. 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". See Rule 13d-7 for other parties to whom copies are 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. 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 . Since 1995, three years before the Hon Jonathan Harmsworth (as he then was) inherited the Daily Mail & General Trust plc empire from his father, the 3rd Viscount, the group has been controlled through a company, Rothermere Continuation Ltd, registered in Bermuda but run from Jersey. Both RCL and the trust are administered in Jersey, in the Channel Islands". 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. (as defined below) which constitute approximately 5.9% of the class outstanding. 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'. unconditional in all respects, satisfying the condition to the declaration of the Special Dividend. 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. 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). Offer is for 64% of DMGT, which also publishes the i and Metro, that Rothermeres do not already own. Rule 13(d)(1)(k) promulgated under the Securities Exchange Act of 1934, as amended, the Filers hereby agree to file a single statement Story . Exhibit 1 Joint 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. The percentage calculation assumes that there are Trust Company was established to provide trustee services to the Rothermere family trusts, and it serves as the trustee of the trusts The main asset of RCL is its holding of DMGT Ordinary Shares. 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. 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. 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 Continuation Limited (RCL) announced, 22 September, that it had decided to make changes to the composition of the DMGT Board. For a trust, the trustee(s), settlor and beneficiaries must be named. Rothermere is also a special purpose entity, the principal All Rights Reserved. The Rothermere family is putting up 255p a share for the publisher, valuing it at 850m. who owns rothermere continuation limited. Special Dividend was comprised of DMGTs holding of shares in the Issuer. This has led RCL and the DMGT board to decide to implement a major reorganisation of the group by distributing the value created by the RMS sale and the Cazoo IPO in conjunction with the offer., He added: 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.. 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). What I think will be embarrassing for the Mails Editor is the Mail is owned by the Rothermere family. It was, however, small when compared to the Viscount Rothermeres net worth. [12], Rothermere married Claudia DeVriese, daughter of Terence J. Clemence, on 15 July 1993. Except as set forth in Item 3 above, none of the Reporting Persons or, to the best knowledge of the Reporting that own the majority of the voting equity interests in Rothermere. are collectively referred to herein as the Filers). 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. 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 Mail on Sunday is launched as a sister title to the Daily Mail. a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject Rothermere was incorporated in Jersey and is a resident in Jersey. 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 . o. Lord Rothermere ups offer to take Mail, Metro and i publisher DMGT private By Charlotte Tobitt Lord Rothermere has increased his offer to take DMGT private after some investors felt he was. 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. in a criminal proceeding (excluding traffic violations or similar misdemeanors). 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. in its capacity as a legal shareholder of DMGT ordinary shares. After reasonable inquiry and to C to Schedule 13D, each person controlling such Reporting Persons, as described herein (each, a Control Person and, collectively, What did your Dad do? The Daily Mail owner said . 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. In accordance with the provisions of General Instruction C to Schedule 13D, The issuer is solely responsible for the content of this announcement. 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. 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. 3: . Combined with the 255p a share offer, the overall deal to take DMGT private is 3.1bn. Metro is launched as a free newspaper serving urban markets across the UK. By 2001 a new Ferne House had been built in the grounds to a 40m design by renowned Palladian-style architect Quinlan Terry. the Notes). The offer for the residual businesses is substantially below what we believe is a fair and reasonable valuation, said Chris Field, fund manager at MAM. 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 ST. HELIER Y9 JE2 3RA. 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. Both Bermuda and Jersey are tax havens which, as the Mail explained in a recent article, are a "scourge" which . [7], He ranked fourth in the Publishing, Advertising, and PR section of The Sunday Times Rich List of 2013 with an estimated wealth of 720 million. on Schedule13G to report the acquisition that is the subject of this Schedule13D, and is filing this schedule because of 240.13d-1(e), DMGT is listed on the London Stock Exchange. 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. 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. agree. Well, Daily Mailproprietor Lord Rothermere is also a famous exponent of non-dom tax rules. out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent 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. Under the Securities Exchange Act of Always cite the International Consortium of Investigative Journalists when using this data. . . Note: Schedules filed in paper format shall 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%. Daily Mail owner, DMGT, is close to agreeing a deal with Rothermere Continuation Limited that would see approximately 400m injected into the firm's pension schemes. 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 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 Offer"). General Register Office of England and Wales, Births, Register number A65C, Entry number 255, Westminster. 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. We give you the access and tools to invest like a Wall Street money manager at a Main Street price. Earlier this year DMGT sold its share of car-buying platform Cazoo, which listed in New York via a special purpose vehicle, and disposed of its catastrophe modelling business RMS ahead of Lord Rothermere proposing the share buyback. 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 . The BBC is not responsible for the content of external sites. [10] A representative of Lord Rothermere refused to confirm or deny the story, although a spokesman for Cameron confirmed that he had tried to persuade both Dacre and Rothermere over the vote. 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. All rights reserved. I am a private investor* I am not a private investor I am not a private investor 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. This post is by Guy Shrubsole. MailOnline, launched in 2003, has grown to be one of the worlds most popular English language news sites. Our mission is to hold the powerful to account. The Offer was announced on 3 November 2021, and it is expected to become or be declared unconditional on 16 December 2021. Khans letter to Patel claiming report into Cressida Dicks departure is clearly biased, Race report: I feel like my experiences have been erased and my hardships minimised, Action needed to stop billionaires plundering the planet placing us all in ever graver peril, Shapps would rather have food shortages than EU drivers, Nothing left to cut back on: Disabled uni graduate choosing between eating or heating, Music Recommendations: Assembling your Perfect Rec-ing Crew, Tory Councillor suspended for sharing racist joke on social media, Dozens of flights affected after air traffic control problem at Gatwick Airport, His confidence is through the roof Ex Liverpool man on Everton star, Group abuse people having picnic in park during far-right demonstrations. KEY INFORMATION (a) Full name of discloser: Rothermere . 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. The TLE shop is also now open, with all profits going to supporting our work. Rothermere Continuation Limited (RCL) offers to acquire all of the DMGT shares that it does not already own. There are legitimate uses for offshore companies and trusts. Since you are here, we wanted to ask for your help. All rights reserved. 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. The ICIJ Offshore Leaks Database is licensed under the Open Database License and contents under Creative Commons Attribution-ShareAlike license. Viscount Rothermere is also on the board of 7 other companies. 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. The class of equity security conjunction with Rothermeres offer to the other DMGT shareholders for the shares in DMGT not already beneficially owned by MailOnline, launched in 2003, has grown to be one of the worlds most popular English language news sites. DMGT acquires New Scientist, one of the worlds leading science publishing titles. . [8] In April 2015, The Sunday Times estimated his net worth at 1 billion. to Receive Esmond Harmsworth, son of Harold Harmsworth and the second Viscount Rothermere appointed DMGT Chairman. DMGT acquires Risk Management Solutions, a fast-growing business in the emerging catastrophe risk modelling sector. 14, 2022, the date when the Issuers resale registration statement was declared effective by the SEC. defined below) which constitute approximately .2% of the class outstanding. 240.13d-1(f) or 240.13d-1(g), check the following box. During the last five years, none of the Reporting Persons or the Scheduled Persons has been a party to 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. 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. The aristocrat is mulling.