Euromoney Institutional Investor PLC (LON:ERM), the global information business providing essential B2B information to global and specialist markets, noted today’s announcement by Daily Mail and General Trust plc (“DMGT”) regarding the proposed distribution of all of DMGT’s shares in Euromoney, amounting to approximately 49% of the issued share capital of Euromoney, to its participating shareholders (the “Proposed Distribution”).
If the Proposed Distribution proceeds, the existing Relationship Deed between DMGT and Euromoney will terminate and DMGT’s representative directors on the Euromoney Board will step down. A further announcement will be made following the Class Meeting of DMGT Shareholders referred to in DMGT’s announcement.
Andrew Rashbass, Euromoney Institutional Investor Chief Executive Officer, said:
“Euromoney supports DMGT’s proposal. The proposed distribution would result in a more diversified shareholder base for Euromoney and we would expect it to result in increased liquidity in our shares. This should benefit both existing shareholders and those joining the register as a result of the proposed distribution. It will also underline Euromoney’s status as a fully independent company.”
