Toronto Stock Exchange: BPF.UN
VANCOUVER, BC, June 13, 2024 /CNW/ – Boston Pizza Royalties Income Fund (the “Fund“) (TSX: BPF.UN) announced today that the requisite quorum was not present to conduct any business at the Fund’s 2024 annual general and special meeting scheduled to be held on June 13, 2024 (the “Meeting“). In accordance with the Declaration of Trust governing the Fund, the Meeting has been adjourned until, and will be held at, 1:00 p.m. (Pacific Time) on Wednesday, July 3, 2024 at the corporate offices of Boston Pizza International Inc., 201 – 13571 Commerce Parkway, Richmond, British Columbia, V6V 2R2. Under the Fund’s Declaration of Trust, whichever unitholders attend the Meeting on July 3, 2024, in person or by proxy, will constitute quorum and the Meeting will proceed at that time.
The record date for unitholders of the Fund entitled to vote at the adjourned Meeting remains the close of business on April 25, 2024. Unitholders will have until 1:00 p.m. (Pacific Time) on Tuesday, July 2, 2024 to submit their proxies. Unitholders who have not yet voted are encouraged to vote. Any unitholders who previously submitted proxies do not need to take any further action as those proxies remain valid for use at the Meeting on July 3, 2024.
The Fund is a limited purpose open ended trust with an excellent track record for investors since its IPO in 2002. Including the May 2024 distribution which is payable on June 28, 2024, the Fund will have paid out 257 monthly distributions and two special distributions totaling $434.8 million or $26.58 per unit. The Fund earns revenue based on the franchise system sales of the 372 Boston Pizza restaurants in the Fund’s royalty pool.
Boston Pizza International Inc. (“BPI“) is Canada’s number one casual dining brand. The Boston Pizza brand has served communities from coast-to-coast for 60 years since opening its first restaurant in Edmonton, Alberta in 1964. Today Boston Pizza proudly remains a Canadian company with its hundreds of local franchise owners operating more dining rooms, sports bars and patios than any other single brand in the country, along with take-out and delivery. BPI has been recognized both as a Franchisees’ Choice Designation winner and a Platinum Member of Canada’s 50 Best Managed Companies for many years.
The trustees of the Fund have approved the contents of this news release.
SOURCE Boston Pizza Royalties Income Fund
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