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DAILY MAIL & GENERAL TRUST PLC - Zoopla Property Group Plc Announcement of Offer Price

June 17, 2014



18 June 2014Daily Mail and General Trust plc (`DMGT') Zoopla Property Group IPO Offer Price On 22 May 2014, Zoopla Property Group Plc (Zoopla) announced its intention to make an initial public offering (IPO) of its ordinary shares (Shares) on the London Stock Exchange (the Offer). DMGT intends to participate in the IPO and sell a maximum of 40% of its current 52.1%* stake in Zoopla, retaining a stake of at least 31%. The maximum that DMGT could receive would be 190 million as a result of its participation in the IPO. This maximum includes DMGT's contribution to the Member Offer, the Institutional Offer and Over-allotment Option. Following the publication on 5 June of its Prospectus, Zoopla has today announced the successful completion of the Offer. The offer price has been set at 220 pence per Share (Offer Price). Based on the Offer Price, the total market capitalisation of Zoopla will be 918.8 million. The Offer comprises 159,977,620 Shares, representing 38.3% of Zoopla's issued share capital on Admission, excluding the Over-allotment Option. The Principal Selling Shareholders have granted an Over-allotment Option in respect of 15,997,755 Shares. If the Over-allotment Option were exercised in full the total gross proceeds raised by the Principal Selling Shareholders in the Offer would be approximately 369.9 million. 4,179,624 Shares have been applied for by Eligible Members under the Member Offer. As a result the Institutional Offer will comprise 155,797,996 Shares The Offer comprises the sale by selling shareholders of existing Shares only. No new Shares will be issued pursuant to the Offer Admission to the premium listing segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange, and the commencement of unconditional dealings in the Shares on the London Stock Exchange, are expected to take place at 8:00 am on 23 June 2014. At Admission, the Company will have 417,642,460 Shares in issue For further information For analyst and institutional enquiries: Stephen Daintith, Finance Director +44 20 3615 2902 Adam Webster, Head of Management Information and Investor Relations +44 20 3615 2903 * after the exercise of certain warrants and options, formerly 52.6% About DMGT DMGT is an international business built on entrepreneurship and innovation. We bring together leading companies and talented people to provide businesses and consumers with high-quality analysis & insight, information, news and entertainment. Group revenues are split across our five operating businesses. The B2B businesses are: Risk Management Solutions dmg information dmg events Euromoney Institutional Investor The Consumer business, known as dmg media, comprises: The Daily Mail and The Mail On Sunday MailOnline Metro Wowcher Zoopla Property Group (Zoopla & Prime Location) DMGT's ambition is to provide the highest quality content and services, across the most attractive growth markets in innovative, responsible and sustainable ways, building on its track record of earnings and dividend growth. Daily Mail and General Trust plc Northcliffe House, 2 Derry Street, London, W8 5TT www.dmgt.com



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Source: PR Newswire (UK Disclosure)


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