Boston Pizza International Inc.

Boston Pizza International Inc.
Boston Pizza Royalties Income Fund
TSX : BPF.UN

Boston Pizza Royalties Income Fund

June 02, 2015 18:11 ET

Boston Pizza International Inc. Receives Return of Capital From Boston Pizza Canada Limited Partnership and Pays Dividends

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 2, 2015) - Boston Pizza International Inc. ("BPI") announced today that Boston Pizza Canada Limited Partnership ("BPCLP") returned $126,000,000 of capital to BPI on Class 2 general partnership units of BPCLP held by BPI (the "Return of Capital"), and that BPI has declared and paid dividends in the amount of $118,070,000 to the shareholder of record on June 1, 2015. These dividends were paid from the proceeds of the Return of Capital. BPI is a privately held company and licensee of the Boston Pizza trade marks from Boston Pizza Royalties Limited Partnership ("BPRLP"). These dividends declared by BPI are separate and distinct from distributions declared by Boston Pizza Royalties Income Fund (the "Fund") (TSX:BPF.UN) to unitholders of the Fund, and accordingly, is payable to the shareholder of BPI and not unitholders of the Fund. The Return of Capital represents the effective distribution of the purchase price received by BPCLP in respect of the Fund's recent acquisition of its limited partnership interest in BPCLP.

BPI currently holds a 12.7% interest in the Fund indirectly through its interest in BPRLP and BPCLP.

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