Press Release Details

View all news

Boston Pizza International Inc. Announces Plan to Exchange Units of Boston Pizza Royalties Limited Partnership for Units of Boston Pizza Royalties Income Fund

November 19, 2012

For Immediate Release                                                                           Toronto Stock Exchange: BPF.UN

BOSTON PIZZA INTERNATIONAL INC. ANNOUNCES PLAN TO EXCHANGE UNITS OF BOSTON PIZZA ROYALTIES LIMITED PARTNERSHIP FOR UNITS OF BOSTON PIZZA ROYALTIES INCOME FUND


VANCOUVER, B.C. November 19, 2012 – Boston Pizza International Inc. (“BPI”) announced today that it intends to exchange 3,479,575 Class B units (“Class B Units”) of Boston Pizza Royalties Limited Partnership for 1,000,000 units (“Fund Units”) of Boston Pizza Royalties Income Fund (TSX: BPF.UN) (the “Fund”).  The proposed exchange is expected to be completed on or about November 23, 2012.  Following the exchange, BPI intends to sell the 1,000,000 Fund Units to the chairmen and owners of BPI and a related party.

BPI currently holds 10,299,107 Class B Units that are exchangeable for an aggregate of 2,959,875 Fund Units or 16.9% of the Fund Units (on a fully-diluted basis), and there are 14,570,644 Fund Units outstanding.  Following the completion of the proposed exchange, BPI will hold 6,819,532 Class B Units that will be exchangeable for an aggregate of 1,959,875 Fund Units or 11.2% of the Fund Units (on a fully-diluted basis), and there will be 15,570,644 Fund Units outstanding.

FOR FURTHER INFORMATION PLEASE CONTACT:

Boston Pizza Royalties Income Fund
Jordan Holm - Vice President of Investor Relations
Tel: 604-303-6083

www.bpincomefund.com

www.bpincomefund.com

 Forward-Looking Information

 

Certain statements in this press release may constitute “forward-looking” information that involve known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Fund, Boston Pizza Holdings Trust, Boston Pizza Royalties Limited Partnership, BPI, Boston Pizza Holdings GP Inc., Boston Pizza GP Inc., Boston Pizza Holdings Limited Partnership, Boston Pizza Restaurants, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, such statements use such words as “will”, “intend”, “plan” and other similar terminology.  These statements reflect current expectations and assumptions regarding future events and operating performance and are current only as of the date of this press release.  These forward-looking statements involve a number of risks, uncertainties and future expectations.  The Fund’s annual information form dated February 8, 2012 discusses some of the factors that could cause actual results to differ materially from those expressed in or underlying such forward-looking statements.  Forward-looking statements are made as of the date hereof and except as required by law, we assume no obligation to update or revise them to reflect new events or circumstances.  See “Risks and Uncertainties” in the Fund’s annual information form dated February 8, 2012.

Categories: Press Releases
View all news