Euromoney Institutional InvestorPLC Response to DMGT announcement (0809U)
27 March 2019 - 3:40AM
UK Regulatory
TIDMERM
RNS Number : 0809U
Euromoney Institutional InvestorPLC
26 March 2019
EUROMONEY INSTITUTIONAL INVESTOR PLC
RESULT OF DMGT CLASS MEETING
26 March 2019
Response to DMGT announcement regarding result of DMGT Class
Meeting
Euromoney Institutional Investor PLC ("Euromoney" or "the
Company"), the global information business providing essential B2B
information to global and specialist markets, notes today's
announcement by Daily Mail & General Trust plc ("DMGT")
confirming that the Class Meeting of DMGT shareholders approved the
resolution set out in DMGT's Notice of Class Meeting forming part
of a DMGT shareholder circular published on 5 March 2019. This will
facilitate the proposed distribution of all of DMGT's shares in
Euromoney, amounting to approximately 49% of the issued share
capital of Euromoney, to DMGT's participating shareholders.
The distribution is expected to take place on 2 April 2019, on
which date the existing relationship deed between DMGT and the
Company will terminate and DMGT's representative directors, Tim
Collier and Kevin Beatty, will step down from the Euromoney
Board.
In anticipation of and conditional on the distribution taking
place, Euromoney announces that the Board has approved the
following changes to the composition of certain of its committees,
each with effect from 2 April 2019:
-- Leslie Van de Walle, Chairman, and Lorna Tilbian, independent
non-executive director, will both be appointed as members of the
Remuneration Committee
-- Jan Babiak, independent non-executive director, will be
appointed on an interim basis as a member of the Audit & Risk
Committee. Ms Babiak is expected to elect to step-down from the
Committee in light of her other board commitments following any
future appointment of an additional non-executive director as a
member of the Audit & Risk Committee.
Leslie Van de Walle, Chairman of Euromoney, said: "The result of
today's vote represents a landmark in Euromoney's history.
Euromoney has benefitted from DMGT's considerable support as a
shareholder for 50 years. Each of DMGT's representative directors
who have served on the Euromoney Board have all helped shape the
company, in particular Lord Rothermere. I would like to thank them
all and in particular Tim Collier and Kevin Beatty for their
guidance and input since my appointment as Chairman.
"Euromoney is well placed to prosper further as a fully
independent business. Our Board is now fully independent and as a
result of the changes we are announcing today, together with our
already strong governance processes, we now have a roadmap towards
comprehensive UK Corporate Governance Code compliance. The Board is
accordingly focused on supporting the continued delivery of our
strategy."
This announcement is made in accordance with LR 9.6.11(2) to
(4).
Ends
For further information, please contact:
Euromoney Institutional Investor PLC
Wendy Pallot, Chief Financial Officer
+44 (0) 20 7779 8866
wendy.pallot@euromoneyplc.com
Tim Bratton, General Counsel & Company Secretary
+44 (0) 207 779 8288
tim.bratton@euromoneyplc.com
FTI Consulting
Charles Palmer / Jamie Ricketts / Amy Hurnell / Jamille
Smith
+44 (0)20 3727 1000
euromoney@fticonsulting.com
About Euromoney Institutional Investor PLC
Euromoney is a global information business providing essential
B2B information to global and specialist markets. Euromoney
provides price discovery, market intelligence and events across our
segments. Euromoney is listed on the London Stock Exchange and is a
member of the FTSE 250 share index.
www.euromoneyplc.com
LEI number: 213800PZU2RGHMHE2S67
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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