VANCOUVER, Jan. 5, 2015 /CNW/ - A&W Food
Services of Canada Inc. ("Food Services") announced today that
it has filed an early warning report dated January 5, 2015 (the "Early Warning Report") with
respect to its ownership of securities indirectly exchangeable
for units ("Units") of A&W Revenue Royalties Income Fund (the
"Fund").
Prior to December 15, 2014, Food
Services had ownership and control of securities indirectly
exchangeable for 1,977,844 Units of the Fund, representing
approximately 14.0% of the outstanding voting securities of the
Fund.
On December 15, 2014, Food
Services acquired ownership and control of 210,490 limited
partnership units ("LP Units") of A&W Trade Marks Limited
Partnership (the "Partnership"), which are indirectly exchangeable
for 210,490 Units of the Fund. This acquisition did not result
in Food Services acquiring beneficial ownership of, or control or
direction over, either (i) an additional 2% or more of the
outstanding securities of the class of securities that was the
subject of the most recent early warning report required to be
filed by Food Services, or (ii) securities convertible into an
additional 2% or more of the outstanding securities referred to at
(i). Prior to January 5, 2015 and after the issuance of
210,490 LP Units on December 15,
2014, Food Services had ownership and control of securities
indirectly exchangeable for 2,188,334 Units of the Fund,
representing approximately 15.3% of the outstanding voting
securities of the Fund.
On January 5, 2015, Food Services
acquired ownership and control of 369,558 LP Units of the
Partnership which are indirectly exchangeable for 369,558 Units of
the Fund. If Food Services exercises all of its exchange
rights and all the LP Units held by Food Services, and other
exchangeable securities already held by Food Services, are
indirectly exchanged for Units of the Fund, Food Services would
hold 2,557,892 Units of the Fund, representing approximately 17.4%
of the outstanding voting securities of the Fund.
Food Services acquired the 210,490 LP Units on December 15, 2014 at a price of $22.09 per LP Unit and the 369,558 LP Units on
January 5, 2015 at a price of
$24.69 per LP Unit, in each case, by
way of private placement. These issuances are exempt from the
prospectus and registration requirements pursuant to section 2.42
of National Instrument 45-106 – Prospectus and Registration
Exemptions.
Food Services acquired the aforementioned securities for
investment purposes only. Food Services may acquire additional
securities of the Fund in the future and expects to continue to
acquire, on a yearly basis, further LP Units of the Partnership
which are indirectly exchangeable for Units of the Fund.
SOURCE A&W Revenue Royalties Income Fund