A&W Revenue Royalties Income Fund (the Fund)
TRADING SYMBOL: The Toronto Stock Exchange – AW.UN
VANCOUVER, May 3, 2017 /CNW/ - At the annual general meeting of Unitholders of the Fund held on May 2, 2017 (the "Meeting"), the requisite quorum for the election of the trustees of the Fund for the ensuing year was not present. Accordingly, the election of the trustees of the Fund was not voted on at the Meeting and was adjourned to 9:00 a.m. (Pacific Time) on Tuesday, May 16, 2017 at the offices of A&W Food Services of Canada Inc., Suite 300, 171 West Esplanade, North Vancouver, British Columbia.
The record date for unitholders entitled to vote at the adjourned portion of the Meeting remains the close of business on March 17, 2017. Unitholders will have until 11:00 a.m. PST on Friday, May 12, 2017 to submit their proxies. Unitholders who have not yet voted are encouraged to vote.
The requisite quorum was present at the Meeting for the conduct of all business other than the election of the trustees of the Fund for the ensuing year.
The following are the voting results from the matters voted on at the Meeting.
Appointment of Auditors
PricewaterhouseCoopers LLP was re-appointed as auditor of the Fund and the Trustees are authorized to fix the remuneration to be paid to the auditor.
About the Fund
Launched on February 15, 2002, the Fund, through its investment in A&W Trade Marks Inc., is entitled to receive royalties from A&W Food Services of Canada Inc. in the amount of 3% of the sales of the 861 A&W restaurants in the Royalty Pool. Cash distributions are paid monthly. A&W is the second largest quick-service hamburger restaurant chain in Canada. Operating coast-to-coast, A&W restaurants feature famous trade-marked menu items such as The Burger Family ®, Chubby Chicken® and A&W Root Beer®.
SOURCE A&W Revenue Royalties Income Fund