26 Mar 2019 16:40
EUROMONEY INSTITUTIONAL INVESTOR PLC
RESULT OF DMGT CLASS MEETING26 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