Yellow Média inc.
TSX : YLO.UN

Yellow Média inc.

May 06, 2010 12:35 ET

Yellow Pages Income Fund Unitholders Approve Conversion to a Corporate Structure

MONTREAL, QUEBEC--(Marketwire - May 6, 2010) - Yellow Pages Income Fund (TSX:YLO.UN) is pleased to announce that at its annual and special meeting held today in Montreal, YPG unitholders approved the previously announced plan of arrangement under the Canada Business Corporations Act. This will result in the conversion of YPG's income trust structure into a dividend paying public corporation to be named "Yellow Media Inc.". The special resolution of YPG unitholders was adopted by a vote of 99.8 per cent.

As set out in YPG's management proxy circular dated March 24, 2010, YPG will appear before the Superior Court of Québec in order to obtain a final order with respect to the plan of arrangement on October 1, 2010, or at any other date following notification by news release to the unitholders of the date of presentation of such application, at least ten days before such date. Upon completion of the conversion, unitholders of YPG will receive, for each unit of YPG held, one common share of the resulting public corporation. The effective date of the conversion is expected to be on or about November 1, 2010.

About Yellow Media Inc.

Yellow Media Inc., a subsidiary of Yellow Pages Income Fund, owns Yellow Pages Group and Trader Corporation. Yellow Pages Group (YPG) is Canada's leading performance media and marketing solutions company. The Company brings consumers and businesses together locally through its network of print, digital and mobile properties. YPG enables consumers to make smarter decisions, helping people find what they need wherever and whenever. YPG partners with businesses to build successful marketing and lead generation programs, helping them grow their business. Trader Corporation (Trader) is a leader in print and digital vertical media and offers a broad set of services such as inventory management, web solutions, optimization of media spend, and lead generation campaigns. Trader caters to the automotive, real estate and generalist verticals. Yellow Media Inc. owns and operates some of Canada's leading properties and publication including Yellow Pages™ directories, YellowPages.ca™, Canada411.ca™, Auto Trader™(.ca), Home Trader™(.ca), and LesPAC.com. For more information, visit www.ypg.com.

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