Reuters logo
BRIEF-Daily Mail & General Trust says to cut Euromoney stake to about 49 pct
December 8, 2016 / 5:10 PM / 9 months ago

BRIEF-Daily Mail & General Trust says to cut Euromoney stake to about 49 pct

Dec 8 (Reuters) - Daily Mail And General Trust Plc :

* Reduction of stake in Euromoney

* Announces its intention to reduce its holding in Euromoney to c.49 pct

* This will be achieved by a sale of approximately 32 million ordinary shares in Euromoney

* Placing shares and, if approved, buy- back represent approximately c.10 pct and c.15 pct of Euromoney’s current issued share capital respectively

* As a result, Euromoney will cease to be a subsidiary and will be accounted for as an associate

* Sale will comprise two parts a secondary placing of euromoney shares and a buy-back by euromoney of its own shares from dmgt

* Shares will be cancelled, combined effect of sale will be to reduce dmgt’s holding from c.67 pct of Euromoney’s issued share capital to c.49 pct Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below