/NOT FOR DISSEMINATION INTO THE UNITED STATES OR TO UNITED STATES WIRE SERVICES/
MONTREAL, Oct 4 /CNW Telbec/ - Rogers Sugar Income Fund (the "Fund") (TSX: RSI.UN) announced today that at the special meeting of its holders of units (the "Unitholders") held on September 29, 2010, the Unitholders approved the previously announced conversion of the Fund to a corporate structure by way of a plan of arrangement (the "Arrangement") under section 192 of the Canada Business Corporations Act involving the Fund, its Unitholders and Rogers Sugar Inc. ("RSI"). As part of the Arrangement, the Unitholders also approved the adoption of a stock option plan for RSI. The Arrangement was subject to the final approval of the Supreme Court of British Columbia which was granted today.
It is expected that the Arrangement will be effective on or about January 1, 2011 and that the common shares, the third series debentures and the fourth series debentures of RSI will begin trading on the Toronto Stock Exchange on the first business day following the completion of the Arrangement under the symbol "RSI", "RSI.DB.B" and "RSI.DB.C", respectively.
About Rogers Sugar Income Fund
The Fund is an open-ended, limited purpose trust established under the laws of the Province of Ontario. The Fund holds all of the common shares of Lantic. Lantic operates cane sugar refineries in Montréal, Québec and Vancouver, British Columbia, as well as the only Canadian sugar beet processing facility in Taber, Alberta. Lantic's sugar products are marketed under the "Lantic" trademark in Eastern Canada, and the "Rogers" trademark in Western Canada, and include granulated, icing, cube, yellow and brown sugars, liquid sugars and specialty syrups.
This document may contain forward-looking statements, relating to the Fund's operations or to the environment in which it operates, which are based on the Fund's operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond the Fund's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. These factors include those set forth in other public filings. In addition, these forward-looking statements relate to the date on which they are made. The Fund disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.
For further information: For further information:
Mr. Daniel L. Lafrance
Senior Vice-President Finance and Chief Financial Officer
Tél.: (514) 940-4350