BOSTON PIZZA ROYALTIES INCOME FUND ANNOUNCES RESULTS OF AGM VOTING
VANCOUVER, BC, June 16, 2022 /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 16, 2022 in Richmond, British Columbia.
Marc Guay, David Merrell and Paulina Hiebert 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 6,906,542 units and other securities with voting entitlements for the Fund (together, the "Voting Units") were represented at the meeting, being 27.87% 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 | 6,749,897 | 98.18 % | 125,217 | 1.82 % |
Election of David L. Merrell as Trustee | 6,706,028 | 97.54 % | 169,086 | 2.46 % |
Election of Paulina Hiebert as Trustee | 6,735,487 | 97.97 % | 139,627 | 2.03 % |
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.
The Fund is a limited purpose open ended trust with an excellent track record for investors since its IPO in 2002. Including the May 2022 distribution which is payable on June 30, 2022, the Fund will have paid out 233 monthly distributions and one special distribution totaling $378.9 million or $23.97 per Unit. The Fund earns revenue based on the franchise system sales of the 383 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 58 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 as a Franchisees' Choice Designation winner and has been a Platinum Member of Canada's 50 Best Managed Companies for nine consecutive years.
The trustees of the Fund have approved the contents of this news release.
® Boston Pizza Royalties Limited Partnership. All Boston Pizza registered Canadian trademarks and unregistered Canadian trademarks containing the words "Boston", "BP", and/or "Pizza" are trademarks owned by the Boston Pizza Royalties Limited Partnership and licensed by the Boston Pizza Royalties Limited Partnership to Boston Pizza International Inc.
SOURCE Boston Pizza Royalties Income Fund
News published on and distributed by:
