On 18 December 2013, Brambles Limited implemented the demerger of its information management business, Recall. As a result of the demerger, the Recall business is owned by an independent company called Recall Holdings Limited (“Recall Holdings”; ASX: REC), which is separately-listed on the Australian Securities Exchange, and is no longer a part of the Brambles Group. Visit www.recall.com for information on Recall.
As a consequence of implementation of the Recall demerger, Brambles shareholders eligible to participate in the demerger received one Recall Holdings share for every five Brambles shares held by them on the demerger record date (16 December 2013). Shareholders who were not eligible to participate in the demerger and shareholders who elected not to participate had the Recall Holdings shares to which they were otherwise entitled transferred to a sale agent. Those shares were subsequently sold on the Australian Securities Exchange. The proceeds of that sale were despatched to applicable shareholders on 24 January 2014.
Brambles (ASX: BXB) continues to own all of its existing pallet, crate and container pooling solutions businesses, operating predominantly under the CHEP and IFCO brands in more than 50 countries.
To understand more about the demerger, please review the following frequently-asked questions and the key documents at the bottom of this page, or contact the Brambles investor relations team.
Information for Australian-resident shareholders:
As referred to in Section 6 (Tax Implications for Shareholders) of the Recall Demerger Scheme Book, Brambles applied for a Class Ruling from the Australian Taxation Office (ATO) requesting confirmation that Australian resident Brambles Shareholders who held their Brambles Shares on capital account at the Scheme Record Date will be able to choose demerger tax relief in relation to the Demerger. A copy of the class ruling is available here.
Brambles Limited Scheme and General Meeting:
Brambles Limited shareholder meetings to approve and implement the Recall demerger were held on Tuesday 3 December 2013. All resolutions put at those meetings were passed by the necessary majorities.
Other key documents:
- Letter to Shareholders Recall Demerger ATO Class Ruling
- ATO Class Ruling for the Recall demerger
- Demerger of Recall Holdings Limited By Brambles Limited
- 28 October 2013 Recall Investor presentation webcast
- Independent Expert's Report
- Recall Roadshow Pack October 2013
- 9 December 2013 Recall Demerger Scheme Effective
- Financial Services Guide - MLAN
- One off FSG - UBS Securities Australia Limited - Brambles
- ASX Announcement of 2 July 2013
- 2 July 2013 Analyst & Media presentation slides
- 2 July 2013 Analyst & Media presentation
Recall Holdings Limited Investor & Media contacts:
Senior Director, Investor Relations
Tel: +61 2 9582 0244
Mob: +61 405 144 807