Pizza Pizza Royalty Income Fund Announces Board Change

About this update from Pizza Pizza Royalty Corp.

[{"type":"text","content":"\n\n\n\nTORONTO, Dec. 5 /CNW/ - Pizza Pizza Royalty Income Fund (the "Fund")\n(TSX: PZA.UN) today announced that Robert J. Nobes, CA has been appointed as a\nTrustee of the Pizza Pizza Royalty Income Fund, replacing Ronald Rogers who\nhas resigned.\n\n\nRobert Nobes is a retired senior partner of KPMG whose 41 year career\nincluded exposure to large retail clients, both public and private. At KPMG,\nMr. Nobes was the partner in charge of the Greater Toronto Area professional\npractice, with responsibility for quality control and risk management, and was\nalso a securities reviewing partner. He was a Trustee of the E.D. Smith Income\nFund for two years until that trust was taken private in November 2007.\n\n\nElizabeth Wright, Board Chair of Pizza Pizza Royalty Income Fund, said,\n"Bob Nobes brings an excellent skill set to the board with his public\npractice, audit and securities experience. Bob's retail experience and his\ntransaction experience at E.D. Smith Income Fund will be an added benefit for\nthe Fund. Ron Rogers was a pleasure to work with and provided the Board\nvaluable business insight since the Fund's inception in July 2005. We thank\nRon for his service and dedication to the Board."\n\n\nAbout the Fund\n\n\nThe Fund is a limited purpose, open-ended trust established under the\nlaws of Ontario to indirectly acquire the trademarks and trade names used by\nPizza Pizza Limited ("Pizza Pizza") in its Pizza Pizza and Pizza 73 branded\nrestaurants. A key attribute of the Fund is that it is based on top-line,\nsystem sales of the Royalty Pool restaurants and not on the profitability of\neither Pizza Pizza or the restaurants in the Royalty Pool. The success of the\nFund depends primarily on the ability of Pizza Pizza to maintain and increase\nsystem sales of the Royalty Pool and to meet its royalty obligations.\n\n\nThe Fund's trust units are listed on the Toronto Stock Exchange under the\nsymbol PZA.UN.\n\n\n%SEDAR: 00022262EF\n\n\n","length":2048,"tagName":"div"}]

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