Business
Swiss Water Decaffeinated Coffee Income Fund Announces Intention to Convert to a Corporation
Swiss Water Decaffeinated Coffee Income Fund Announces Intention to Convert to a Corporation
About this update from Swiss Water Decaffeinated Coffee, Inc.
[{"type":"text","content":"\n\n\n\n Sep. 30, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\nTRADING SYMBOL: The Toronto Stock Exchange - SWS.UN\n\nVANCOUVER, Sept. 30 /CNW/ - Swiss Water Decaffeinated Coffee Income Fund ("the Fund") today announced that it has entered into an arrangement agreement with its wholly owned subsidiary, Swiss Water Decaffeinated Coffee Company Inc. ("SWDCC"), in order to effect a conversion of the Fund to a corporation. The Fund will be asking its unitholders to approve the conversion at a special meeting of unitholders expected to be held on December 9, 2010.\nThe conversion is to take place as a "plan of arrangement" and is expected to be effective January 1, 2011. Under the arrangement, unitholders of the Fund are to receive one common share of a newly formed corporation for each unit of the Fund held at the time of the conversion. It is expected that unitholders resident in Canada will generally receive their shares on a tax-deferred basis.\nThe newly formed corporation, which is expected to be listed on the Toronto Stock Exchange once the plan of arrangement becomes effective, will be known as Ten Peaks Coffee Company Inc. ("Ten Peaks"). The SWISS WATER(R) Process decaffeination business will continue to be conducted by SWDCC under its current name, with all of SWDCC's interests owned directly by Ten Peaks. Additionally, it is expected that the current trustees of the Fund will become the directors of Ten Peaks, and the current offic...