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/C O R R E C T I O N from source -- Pizza Pizza Royalty Income Fund/
/C O R R E C T I O N from source -- Pizza Pizza Royalty Income Fund/.
About this update from Pizza Pizza Royalty Corp.
[{"type":"text","content":"\n\n\n\n\nIn c4474 sent on Tuesday, March 21, 2006, an error occurred at the end of \nthe first paragraph. April 14, 2006 should have been April 13, 2006. \nCorrected copy follows:\n\nPizza Pizza Royalty Income Fund Announces March Distribution\n\nTORONTO, March 21 /CNW/ - Pizza Pizza Royalty Income Fund (the \"Fund\")\n(TSX: PZA.UN) today announced a cash distribution of $0.0695 per unit for the\nmonth of March, 2006. The distribution will be payable to unitholders of\nrecord at the close of business on March 31, 2006, and will be paid on \nApril 13, 2006.\nFor those unitholders holding units outside a tax deferred plan, the \n2005 distributions will be treated as 46.20% taxable income and 53.80% return\nof capital.\n\nThe Fund\nThe Fund is a limited purpose, open-ended trust established under the\nlaws of Ontario to indirectly acquire certain trademarks and trade names used\nby Pizza Pizza in its restaurants. The trademarks are licensed to Pizza Pizza\nfor 99 years, for which Pizza Pizza pays the Fund a royalty equal to 6% of the\nsystem sales of its 501 Pizza Pizza restaurants in Canada as at \nJanuary 1, 2006 (the \"Royalty Pool\"). A key attribute of the Fund is that it\nis based on top-line, system sales of the Royalty Pool restaurants and not on\nthe profitability of either Pizza Pizza or the restaurants in the Royalty\nPool. The success of the Fund depends primarily on the ability of Pizza Pizza\nto maintain and increase system sales of the Royalty Pool and to meet its\nroyalty obligations.\n\nThe Company\nPizza Pizza Limited, a privately held-Canadian corporation, is one of\nCanada's most successful players in the quick service restaurant industry.\nFounded in 1967, Pizza Pizza is guided by a mission to provide the \"best food,\nmade especially for you\" and a focus on quality ingredients, customer service,\ncommunity contribution and continual innovation.\nThe Fund's trust units are listed on the Toronto Stock Exchange under the\nsymbol PZA.UN.\n%SEDAR: 00022262EF\n\n\n","length":2049,"tagName":"div"}]