TRADING SYMBOL: Toronto Stock Exchange - GRO.UN
VANCOUVER, June 22 /CNW/ - Sun Gro Horticulture Income Fund (the Fund) announced today the results of voting at the annual meeting held June 22, 2009. The following individuals were elected as trustees of the Fund to hold office until the next annual meeting of the Fund or until a successor is duly appointed: Mitchell J. Weaver, Craig Graham, John J. McLaughlin and David E. Sutin. The following individuals were selected as nominees for election as directors of Sun Gro Horticulture Canada Ltd. ("Sun Gro") for the ensuing year: Mitchell J. Weaver, Jack Edwards, John Zaplatynsky, Craig Graham, John J. McLaughlin and David E. Sutin. Three of the four nominees elected to the board of trustees of the Fund, and three of the six nominees selected for election to the board of directors of Sun Gro, Messrs Graham, McLaughlin and Sutin, were nominees of various unitholders of the Fund. PricewaterhouseCoopers LLP was appointed as auditors of the Fund for the ensuing year. The note repurchase, as described in the management information circular for the meeting, was also approved. Full results of voting will be made available on SEDAR at www.sedar.com.
Income Fund Profile
Sun Gro Horticulture Income Fund was launched with the completion of an Initial Public Offering on March 27, 2002. Units of the Fund are listed for trading on the Toronto Stock Exchange. At June 22, 2009, there were 22,284,681 units of the Fund issued and outstanding. The Fund is dependent on Sun Gro's operations, with monthly distributions to its unitholders based entirely on Sun Gro's performance.
Company Profile
Sun Gro was founded in 1929 in Vancouver, BC and has grown to become North America's largest producer of sphagnum peat, and the largest distributor of peat moss, and peat and bark-based growing media to professional plant growers in the US and Canada. Sun Gro sells its professional products primarily to greenhouse, nursery and specialty crop growers, as well as to golf course developers and landscapers. Sun Gro also sells peat moss and peat-based growing mixes to retail customers, either by way of private label partnerships or under its own brand names. The US accounts for approximately 81% of the company's sales volumes.
Sun Gro currently has approximately 65,000 acres of peat bogs under lease. The company's North America-wide production network now comprises 12 Canadian operating plants and 13 US operating plants.
%SEDAR: 00017490E