TRADING SYMBOL: The Toronto Stock Exchange - AW.UN
VANCOUVER, May 4 /CNW/ -
The following are the voting results from the annual general meeting of
unitholders of A&W Revenue Royalties Fund (the Fund) held on May 3,
2011 at 11:00 a.m.:
Declaration of Trust Special Resolution
The Declaration of Trust Special Resolution was approved at the Annual
General Meeting held on May 3, 2011. This resolution was proposed to
assure the continued classification of units of the Fund as equity on
the balance sheet of the Fund under International Financial Reporting
Standards (IFRS), and to allow other amendments to the Declaration of
Trust, which in the opinion of the Trustees, are necessary or desirable
as a result of changes in Canadian taxation laws or accounting
standards. For a complete description of the impact of IFRS on the
Fund, please see the Fund's Management's Discussion and Analysis filed
on SEDAR for the year ended December 31, 2010.
Election of Trustees
Mr. John McLernon and Mr. Carl Vanderspek were re-elected as Trustees
for a term expiring at the close of the next annual meeting of
Unitholders. Mr. Conrad Pinette, who had been a Trustee of the Fund
since its inception in 2002, stepped down and Mr. Hugh Smythe was
elected as a new Trustee of the Fund for a term expiring at the close
of the next annual meeting. Mr. Smythe was formerly Senior Vice
President of Intrawest Mountain Resorts and brings 40 years of business
experience to the Fund.
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
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 715 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.
A&W Food Services of Canada Inc. Dividend
A&W Food Services today declared a dividend in the aggregate amount of
$2,000,000 to its shareholder of record on May 6, 2011.
Certain statements in this report may be forward-looking in nature.
Actual results may differ materially from those expressed or implied in
these forward-looking statements. The forward-looking statements are
based on assumptions that management considered reasonable at the time
they were prepared. These forward-looking statements are subject to a
number of risk factors, including general economic and business
conditions, unemployment, harmonization of sales taxes, financial and
political instability, changes in income tax laws or their application
to the Fund and other factors disclosed previously and from time to
time in the Fund's public filings Forward-looking information is
provided as of the date hereof and, except as required by law, we
assume no obligation to update or revise forward-looking information to
reflect new events or circumstances.
Additional information relating to the Fund is on SEDAR at www.sedar.com and on the Fund's website at www.awincomefund.ca.
For further information:
Chief Financial Officer