MISSISSAUGA, ON, Feb. 15 /CNW/ - Second Cup Royalty Income Fund (the
"Fund") announced that its Board of Trustees approved a cash distribution of
$0.0910 per unit for the month of January, 2008 to be paid on February
29, 2008 to unitholders of record at the close of business on February 27,
2008. Second Cup GP Inc. ("GP Inc"), as administrator of the Fund, also
announced that Bruce Elliot, a member of the Board of Directors and President
of GP Inc. formally resigned from his position as President and Director of GP
Inc., effective February 14, 2008. Mr. Elliot also resigned as President of
The Second Cup Ltd. ("Second Cup"), effective March 7, 2008. GP Inc. is
pleased to announce that Gabriel Tsampalieros, Chairman and Chief Executive
Officer of The Second Cup Ltd. ("Second Cup"), has been appointed President
and Chief Executive Officer, and as Director, of GP Inc.
"During his tenure with us at Second Cup, Bruce put his strong leadership
skills to great use and accomplished much in revitalizing the brand and
leading Second Cup to several consecutive years of positive same café sales
growth," commented Mr. Tsampalieros, "I would like to thank Bruce for his many
contributions, passion for and dedication to Second Cup, its colleagues and
franchise partners, and wish him all the best in his future endeavours".
Mr. Tsampalieros, who controls Second Cup, directly and indirectly
controls approximately 10.1% of the total outstanding units of the Fund.
The Fund is an open-ended trust established under the laws of the
Province of Ontario. It holds, through an indirect wholly-owned limited
partnership, the Canadian trade-marks and other intellectual property and
associated rights used by The Second Cup Ltd. ("Second Cup") in connection
with the operation of Second Cup cafés in Canada. For more information on the
Second Cup Royalty Income Fund please visit www.secondcupincomefund.com.
Second Cup is Canada's largest specialty coffee café franchisor and
second largest retailer of specialty coffee, as measured by number of cafés.
For further information on Second Cup, visit www.secondcup.com.
For further information:
For further information: Stephen Devito, Chief Financial Officer, (905)
362-1824, email@example.com, www.secondcupincomefund.com