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    DMGT   GB00BJQZC279

DAILY MAIL AND GENERAL TRUST PLC

(DMGT)
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Completion of sale of RMS

09/15/2021 | 08:31am EDT

Daily Mail and General Trust plc (DMGT) Completion of sale of RMS 15-Sep-2021 / 13:30 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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15 September 2021

Daily Mail and General Trust plc (DMGT)

Completion of sale of RMS

DMGT announces the completion of the sale of RMS, its Insurance Risk business, for approximately GBP1,425m in cash. This follows the announcement on 5 August 2021 of the agreement to sell RMS to Moody's Corporation, a global integrated risk assessment firm.

Following the listing of Cazoo Group Ltd announced on 27 August 2021, the completion of the sale of RMS satisfies another pre-condition¹ of the possible offer by Rothermere Continuation Limited for DMGT (the 'Possible Offer'), as set out in the announcement on 12 July 2021 of a possible major reorganisation². DMGT continues its discussions with the trustees of DMGT's three pension schemes in relation to their funding arrangements. The pension pre-condition is the remaining non-waivable pre-condition of the Possible Offer. For further information

For analyst and institutional enquiries: 
Tim Collier, Group Chief Financial Officer  +44 20 3615 2902 
Adam Webster, Head of Investor Relations    +44 20 3615 2903 
 
For media enquiries: 
Tim Burt, Teneo                             +44 7583 413254 
Doug Campbell, Teneo                        +44 7753 136628 
Jesse Matthews, Teneo                       +44 7912 783513 

About DMGT

DMGT manages a portfolio of companies that provide businesses and consumers with compelling information, analysis, insight, events, news and entertainment. The Group takes a long-term approach to investment and has market-leading positions in consumer media, property information and events & exhibitions. In total, DMGT generates revenues of around GBP1bn.

Notes

1 The possible offer for DMGT by RCL is subject to the following pre-conditions: a. completion of confirmatory due diligence by RCL to the satisfaction of RCL; b. RMS Completion; c. Cazoo Completion; and d. reaching a position with the trustees of DMGT's three pension schemes which is reasonably satisfactory toDMGT and RCL to ensure that the pension schemes are not adversely affected by the Reorganisation process and, inparticular, by the settlement of the Special Dividend.

The pre-condition under (a) is waivable at the option of RCL. Pre-conditions under (b), (c) and (d) are not waivable. The terms used under this note 1 have the definitions assigned to them under the Reorganisation Announcement².

2 The 'Reorganisation Announcement' was issued by DMGT on 12 July 2021. It announced a possible major reorganisation of DMGT, including a possible conditional special distribution and possible cash offer by Rothermere Continuation Limited ('RCL') to acquire the entire issued and to be issued share capital of DMGT not already owned by RCL. The announcement can be found at www.dmgt.com/investors.

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ISIN:          GB00BJQZC279 
Category Code: PFU 
TIDM:          DMGT 
LEI Code:      4OFD47D73QFJ1T1MOF29 
Sequence No.:  122236 
EQS News ID:   1233584 
 
End of Announcement  EQS News Service 
=------------------------------------------------------------------------------------
 

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1233584&application_name=news

(END) Dow Jones Newswires

September 15, 2021 08:30 ET (12:30 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
DAILY MAIL AND GENERAL TRUST PLC 0.38% 1060 Delayed Quote.42.28%
TIM S.A. -0.92% 11.87 End-of-day quote.-18.98%
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Financials
Sales 2021 1 146 M 1 577 M 1 577 M
Net income 2021 111 M 153 M 153 M
Net cash 2021 393 M 540 M 540 M
P/E ratio 2021 59,2x
Yield 2021 2,33%
Capitalization 2 421 M 3 333 M 3 331 M
EV / Sales 2021 1,77x
EV / Sales 2022 1,72x
Nbr of Employees 5 950
Free-Float 56,3%
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Technical analysis trends DAILY MAIL AND GENERAL TRUST PLC
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 1 060,00 GBX
Average target price 1 050,00 GBX
Spread / Average Target -0,94%
EPS Revisions
Managers and Directors
Paul A. Zwillenberg Chief Executive Officer & Director
Timothy Guy Collier Group Chief Financial Officer & Executive Director
Viscount Rothermere Chairman
Rob Chandhok Group Chief Technology Officer
Dominique Trempont Independent Non-Executive Director
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