TORONTO, Feb. 27 /CNW/ - Maple Leaf Foods Inc.(TSX: MFI) today announced
that in order to simplify administration of its Restricted Share Unit Plan
("Plan"), it has appointed Computershare Trust Company of Canada as the sole
trustee of the Plan Trust, thereby replacing four company executives who
previously served in such capacity. The appointment is effective February 25,
The Plan is an equity compensation program established in September 2006.
Shares of Maple Leaf Foods ("Shares") required to satisfy the awards made
under the Plan are purchased on the open market through the TSX by the Plan
Four officers of the Company, Michael H. McCain, Michael H. Vels, Wayne
Johnson and Rocco Cappuccitti, previously acted as the Plan trustees and
purchases made by the Plan Trust were reported by these trustees in insider
trading reports filed on SEDI, the electronic insider reporting system. As a
result of the change in trustees, each of the four executives will file an
insider report advising that they no longer have control or direction over the
2,169,000 shares currently held by the Plan Trust. While these insider trade
report filings will reduce the number of shares reported by these previous
trustees, there has been no disposition of any shares by the Plan Trust.
Maple Leaf Foods Inc. is a leading food processing company, headquartered
in Toronto, Canada. The Company employs approximately 23,000 people at its
operations across Canada and in the United States, the United Kingdom and
Asia. The Company had sales of $5.2 billion in 2007.
For further information:
For further information: Lynda Kuhn, (416) 926-2026