Brink's Home Security Holdings spinoff moved up to Oct. 21

By Jennifer Chiou

New York, Oct. 8 - Brink's Co. announced that the registration statement filed by its subsidiary, Brink's Home Security Holdings, Inc., was declared effective by the Securities and Exchange Commission. The form 10 was filed in connection with the planned spinoff of the home security unit on Oct. 21.

Previously, Brink's board of directors approved Oct. 31 as the distribution date for the spinoff of Brink's Home Security Holdings.

As already reported, Brink's shareholders will receive one share of Brink's Home Security Holdings common stock for each share of Brink's common stock.

According to a previous release, Brink's Home Security Holdings has applied for approval to trade on the New York Stock Exchange under the symbol "CFL."

Once the spinoff is complete, John S. Brinzo, Lawrence J. Mosner, Carl S. Sloane and Carroll R. Wetzel Jr. will resign from the Brink's board of directors and become directors of Brink's Home Security Holdings. Sloane will become the non-executive chairman of the Brink's Home Security Holdings board.

Robert B. Allen, president and chief executive officer of Brink's Home Security, Inc., also will be a director of Brink's Home Security Holdings.

Robert J. Strang will become a director of Brink's.

Richmond, Va.-based Brink's will continue to operate its secure transportation and cash management unit, Brink's Inc., following the spinoff.

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