Business
Second Cup Royalty Income Fund announces proposed reorganization approved by unitholders
Second Cup Royalty Income Fund announces proposed reorganization approved by unitholders.
About this update from Aegis Brands Inc
[{"type":"text","content":"\n\n\n\n\nMISSISSAUGA, May 10 /CNW/ - Second Cup Royalty Income Fund (TSX:SCU.UN)\nannounces that at its annual and special meeting, held earlier today,\nUnitholders strongly approved (by 99.65% of votes cast) all items of regular\nand special business, including a proposed reorganization whereby the business\nof the Fund would be carried on through a newly formed trust and limited\npartnership owned by the Fund. Completion of the reorganization remains\nsubject to receipt of an advance income tax ruling from Canada Revenue Agency\nand any third party or regulatory approvals that may be necessary in\nconnection with the reorganization.\n\nAbout the Fund\n\nThe Fund is an open-ended trust established under the laws of the\nProvince of Ontario. It holds, through an indirect wholly-owned subsidiary,\nthe Canadian trade-marks and other intellectual property and associated rights\nused by The Second Cup Ltd. in connection with the operation of Second Cup\ncafDes in Canada. The trade marks are licensed to Second Cup for 99 years for\nwhich Second Cup pays the Fund 6.5% of system sales of royalty pooled cafDes.\nFor further information on the Fund, visit www.secondcupincomefund.com.\n\n%SEDAR: 00021352E\n\n\n","length":1269,"tagName":"div"}]