The total amount of cash consideration to be paid pursuant to this all-cash alternative is subject to a cap of AUD 225m, with preferential access to the cash pool expected for the first 5,000 shares for each current Recall shareholder.

Their appointments will be effective upon implementation of the Scheme pursuant to the terms of the Scheme Implementation Deed entered into by Recall and Iron Mountain on 8 June 2015.

Recall Directors to Join Iron Mountain Board Following Merger

2015-09-30 09:54:05 QuoteMedia

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M2 Banking & Credit NewsSeptember 29, 2015 - 9:30 PM EDTNews by QuoteMedia

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The transaction remains subject to regulatory approval in a number of jurisdictions as well as the approval of both parties' shareholders and is not anticipated to be completed until the first half of calendar 2016.

Recall services more than 80,000 customer accounts in over 300 dedicated facilities, spanning five continents in 25 countries.

Following the completion of the transaction, Recall shareholders will own approximately 21% of Iron Mountain.

Z:M Navigator-September29, 2015-Recall Directors to Join Iron Mountain Board Following Merger

In June, Iron Mountain agreed to buy Recall for an enterprise value of approximately AUD 3.4bn (USD 2.6bn) at the current Iron Mountain stock price, the companies said.

Recall is a leader in information management solutions, offering customers complete management of their physical and digital information.

Under the terms of the transaction, Recall shareholders will receive 0.1722 of an Iron Mountain common share and USD 0.50 in cash for each Recall share, with Iron Mountain to establish a secondary listing on the Australian Securities Exchange to allow Recall Shareholders to trade Iron Mountain shares via CHESS Depository Interests on the ASX.