Toronto Stock Exchange: BPF.UN
VANCOUVER, BC, June 15,
2023 /CNW/ - Boston Pizza Royalties Income Fund (the
"Fund") (TSX: BPF.UN) is pleased to announce the voting
results from its annual general meeting of unitholders held on
Thursday, June 15, 2023 in Richmond,
British Columbia.
David L. Merrell did not stand
for re-election and retired as a Trustee of the Fund effective
June 15, 2023. Mr. Merrell was a Trustee of the
Fund and Chair of the Audit Committee since June 11,
2014. Mr. Merrell brought a wealth of knowledge to the Fund
and its unitholders. Mr. Merrell helped guide the Fund
through several major events, including the significant challenges
faced by the Fund as a result of COVID-19, the recovery that
followed and a transaction in 2015 that saw royalties received by
the Fund effectively increase from 4% to 5.5%. The Trustees
of the Fund, and the ownership and management of Boston Pizza
International Inc. wish to thank Mr. Merrell for the invaluable
service he provided, and wish him well in his retirement.
Marc Guay, Paulina Hiebert and Shelley Williams were re-elected to the Board of
Trustees of the Fund for the ensuing year. Marc Guay will continue in the role of Chair of
the Fund.
A total of 7,495,895 units and other securities with voting
entitlements for the Fund (together, the "Voting Units")
were represented at the meeting, being 30.25% of the Fund's
issued and outstanding Voting Units. Detailed results of the
ballot votes are provided below:
|
Proposal
|
Votes
For
|
Votes For
%
|
Votes
Withheld
|
Votes Withheld
%
|
|
Election of Marc Guay
as Trustee
|
7,396,678
|
99.10 %
|
67,343
|
0.90 %
|
|
Election of Paulina
Hiebert as Trustee
|
7,397,593
|
99.11 %
|
66,428
|
0.89 %
|
|
Election of Shelley
Williams as Trustee
|
7,402,942
|
99.18 %
|
61,079
|
0.82 %
|
At the meeting, by a vote by show of hands, KPMG LLP was appointed
as the auditor of the Fund for the ensuing year and the Trustees of
the Fund were authorized to fix the remuneration of the
auditor.
ABOUT US
The Fund is a limited purpose open ended trust with an
excellent track record for investors since its IPO in 2002.
Including the May 2023 distribution
which is payable on June 30, 2023,
the Fund will have paid out 245 monthly distributions and two
special distributions totaling $406.8
million or $25.27 per
unit. The Fund earns revenue based on the franchise system
sales of the 377 Boston Pizza restaurants in the Fund's
royalty pool.
Boston Pizza International Inc. ("BPI") is
Canada's number one casual dining
brand. The Boston Pizza brand has served communities from
coast-to-coast for 59 years since opening its first restaurant
in Edmonton, Alberta in
1964. Today Boston Pizza proudly remains a Canadian company
with its hundreds of local franchise owners operating more dining
rooms, sports bars and patios than any other single brand in the
country, along with take-out and delivery. BPI has been
recognized both as a Franchisees' Choice Designation winner and a
Platinum Member of Canada's
50 Best Managed Companies for many years.
The trustees of the Fund have approved the contents of this news
release.
SOURCE Boston Pizza Royalties Income Fund