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Brambles Ltd Announces Intention To Demerge Recall As Separate ASX-Listed Company


Sunday, 30 Jun 2013 06:31pm EDT 

Brambles Ltd announced its intention to demerge its information management business, Recall, by listing a new holding company, Recall Holdings Limited, on the Australian Securities Exchange (ASX). Through the demerger, eligible Brambles shareholders will receive new shares in Recall Holdings proportionate to their existing Brambles shareholding, while retaining their existing Brambles shares. Brambles will not retain any shareholding in Recall following the demerger. Brambles expects to distribute a scheme book to shareholders in October 2013 containing: a recommendation from the Brambles Board in respect of the demerger; information about the mechanics of the demerger; information about the operating and financial profiles of both Recall Holdings and the post-demerger Brambles; an independent expert’s report; and additional information for shareholders. Brambles currently intends to convene a meeting for shareholders to vote on the demerger proposal in December 2013. Subject to the outcome of this shareholder vote and the satisfaction of other conditions (including receiving the relevant court and regulatory approvals) the final separation of Recall from Brambles and the listing of Recall Holdings will occur shortly thereafter. 

Company Quote

10.46
0.37 +3.67%
19 Dec 2014