For Immediate Release Toronto Stock Exchange: BPF.UN
BOSTON
PIZZA ROYALTIES INCOME FUND ANNOUNCES RESULTS OF
AGM VOTING AND CHANGES TO BOARD OF TRUSTEES
John L. Cowperthwaite, FCA retires and David L. Merrell,
FCA appointed to the Board of Trustees
Vancouver, BC, June 11,
2014 – Boston Pizza Royalties Income Fund (the “Fund”) (TSX: BPF.UN) hereby announces the voting results from its
annual general meeting of unitholders held on Wednesday, June 11, 2014 in
Vancouver, British Columbia.
John L. Cowperthwaite,
FCA did not stand for re-election and retired as a Trustee of the Fund
effective June 11, 2014. Mr. Cowperthwaite had been Chairman of the Fund since
its inception and brought a wealth of
knowledge to the Fund and its unitholders. Since the initial public offering in
July 2002, Mr. Cowperthwaite helped guide the Fund through several major events
including a federal taxation change impacting trusts, the Fund’s adoption of
International Financial Reporting Standards and a global financial crisis. Over
that time, the Fund increased its rate of monthly cash distributions a total of
16 times while paying out over $184 million to Unitholders of the Fund through 143
consecutive monthly cash distributions. The Trustees of the Fund, and the
ownership and management of Boston Pizza International Inc. wish to thank Mr.
Cowperthwaite for the invaluable service he provided. William C. Brown will
assume the role of Chairman of the Fund.
The Fund further
announced that David L. Merrell, FCA was appointed to the Board of Trustees of
the Fund effective June 11, 2014. Mr. Merrell was managing partner of the Vancouver office of the accounting
firm Grant Thornton LLP until his retirement from active practice in 2009.
A total of 17,656,075 units
and other securities with voting entitlements were represented at the meeting,
being 30.36% of the Fund’s issued and outstanding units and other securities
with voting entitlements.Detailed
results of the ballot vote for the election of trustees are provided below:
| Nominee | Votes For | Votes Withheld |
| William C.
Brown | 5,007,533 | 353,645 |
| W. Murray
Sadler | 5,348,691 | 12,487 |
| David L.
Merrell | 5,345,421 | 15,757 |
The
trustees of the Fund have approved the contents of this news release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Boston Pizza Royalties Income Fund
Jordan Holm - Vice President of Investor Relations
Tel: 604-303-6083
investorrelations(at)bostonpizza.com
www.bpincomefund.com
® Boston Pizza Royalties Limited Partnership. All Boston Pizza registered Canadian trade-marks and unregistered Canadian trade-marks containing the words "Boston", "BP", and/or "Pizza" are trade-marks owned by the Boston Pizza Royalties Limited Partnership and licensed by the Boston Pizza Royalties Limited Partnership to Boston Pizza International Inc.
© Boston Pizza International Inc. 2014