A&W Food Services of Canada Inc. Files Early Warning Report
VANCOUVER, Jan. 5, 2017 /CNW/ - A&W Food Services of Canada Inc. ("Food Services") announced today that it has filed an early warning report dated January 5, 2017 (the "Early Warning Report") with respect its ownership of securities indirectly exchangeable for limited voting units ("Limited Voting Units") of A&W Revenue Royalties Income Fund (the "Fund").
Prior to December 19, 2016, Food Services had ownership and control of securities indirectly exchangeable for 3,228,840 Limited Voting Units of the Fund, representing approximately 21.0% of the outstanding voting securities of the Fund.
On December 19, 2016, Food Services acquired ownership and control of 157,774 limited partnership units ("LP Units") of A&W Trade Marks Limited Partnership (the "Partnership"), which are indirectly exchangeable for 157,774 Limited Voting Units of the Fund. This acquisition did not result in Food Services acquiring beneficial ownership of, or control or direction over, either (i) an additional 2% or more of the outstanding securities of the class of securities that was the subject of the most recent early warning report required to be filed by Food Services, or (ii) securities convertible into an additional 2% or more of the outstanding securities referred to at (i). On January 5, 2017, Food Services acquired ownership and control of a further 346,386 LP Units of the Partnership which are indirectly exchangeable for 346,386 Limited Voting Units of the Fund. As a result of these transactions, and Food Service's percentage interest in the outstanding voting securities of the Fund increased by approximately 2.5% on a diluted basis.
Following the transactions on December 19, 2016 and January 5, 2017, and assuming Food Services exercises all of its exchange rights and all the LP Units held by Food Services, and other exchangeable securities already held by Food Services, are indirectly exchanged for Limited Voting Units of the Fund, Food Services would hold 3,733,000 Limited Voting Units of the Fund, representing approximately 23.5% of the outstanding voting securities of the Fund on a diluted basis.
Food Services acquired the 157,774 LP Units on December 19, 2016 at a price of $26.26 per LP Unit and the 346,386 LP Units on January 5, 2017 at a price of $34.75 per LP Unit, in each case, by way of private agreement.
Food Services acquired the aforementioned securities for investment purposes only. Food Services may acquire additional securities of the Fund in the future and may continue to acquire, on a yearly basis, further LP Units of the Partnership which are indirectly exchangeable for Limited Voting Units of the Fund.
For further information, and to obtain a copy of the Early Warning Report, please contact:
Don Leslie
Chief Financial Officer
604-988-2141
300 – 171 West Esplanade,
North Vancouver, B.C. V7M 3K9
The head office of the Fund is also located at the address noted above.
SOURCE A&W Food Services of Canada Inc.
and to obtain a copy of the Early Warning Report, please contact: Don Leslie, Chief Financial Officer, 604-988-2141, 300 - 171 West Esplanade, North Vancouver, B.C. V7M 3K9
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