Slaughter and May is advising Rothermere Continuation Limited ('RCL') on a recommended scheme for the reorganisation of the share capital of Daily Mail and General Trust plc ('DMGT'), to acquire the remaining ordinary voting shares of DMGT that it does not currently own.

With the consent of the Takeover Panel, the scheme will not be made available in respect of the 'A' ordinary non-voting shares of DMGT.

It is intended that the scheme, which was announced on 14 August 2013, will be implemented by means of a scheme of arrangement under Part 26 of the Companies Act 2006.  If approved, the scheme will become effective during the fourth quarter of 2013.

Slaughter and May also advised RCL on the acquisition of the entire shareholding of The Esmond Harmsworth 1998 Settlement in DMGT which completed on 12 July 2013. Accordingly, RCL now owns 89.2% of the issued voting ordinary shares of DMGT.

DMGT is an international group with a portfolio of digital, information, media and events businesses.

RCL is a Bermuda company owned by a trust for the benefit of the Viscount Rothermere and his immediate family.

CONTACTS

Corporate and Commercial: Martin Hattrell (partner), Tim Pitt (associate), Thomas Williams (associate), Peter Sugden (associate); Tax: Tony Beare (partner), Michael Ringer (associate)