LONDON (dpa-AFX) - Multimedia and information company Daily Mail & General Trust plc. (DMGT.L) announced Monday that it 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 Company's ordinary voting shares, increasing Rothermere Continuation Limited's shareholding of ordinary voting shares in the company to 89.2% from 59.9%.
Rothermere Continuation Limited is owned by a trust for the benefit of the Viscount Rothermere and his immediate family.
As per the transaction, The Esmond Harmsworth 1998 Settlement's ordinary voting shares will be exchanged for 'A' ordinary non-voting shares owned by Rothermere Continuation Limited in a share for share exchange at a ratio of 112.5 'A' ordinary non-voting shares for every 100 ordinary voting shares.
'Discussions between the Independent Directors of the Company and Rothermere Continuation Limited are at an early stage and there can be no certainty that any offer will ultimately be made,' the company noted.
The company confirmed that it has in issue about 393.50 million shares of 12.5 pence each, (373.62 million 'A' ordinary non-voting shares and 19.89 million ordinary voting shares).
Copyright RTT News/dpa-AFX
© 2013 AFX News
