VANCOUVER, British Columbia, Dec. 15, 2020 (GLOBE NEWSWIRE) -- The Keg Royalties Income Fund (the “Fund”) (TSX: KEG.UN) is pleased to announce that all of the nominees listed in its information circular dated November 2, 2020 were elected as trustees of the Trust at its annual meeting of unitholders held on December 15, 2020 (the “Meeting”). The results of the voting for each nominee are as follows:
| Nominee | Votes For | Votes Withheld | ||
| No. | % | No. | % | |
| Christopher Charles Woodward | 7,588,813 | 99.33% | 50,992 | 0.67% |
| Tim Kerr | 7,590,622 | 99.36% | 49,183 | 0.64% |
In addition, the Fund reports that the appointment of KPMG LLP as the Fund's auditors for the 2020 fiscal year was passed by a majority of the votes represented at the Meeting.
About The Keg Royalties Income Fund
The Fund is a limited purpose, open-ended trust established under the laws of the Province of Ontario that, through The Keg Rights Limited Partnership, a subsidiary of the Fund, owns certain trademarks and other related intellectual property used by Keg Restaurants Ltd. (“KRL”). In exchange for use of those trademarks, KRL pays the Fund a royalty of 4% of gross sales of Keg restaurants included in the royalty pool.
Vancouver-based KRL is the leading operator and franchisor of steakhouse restaurants in Canada and has a substantial presence in select regional markets in the United States. KRL continues to operate The Keg restaurant system and expand that system through the addition of both corporate and franchised Keg steakhouses. KRL has been named one of the “50 Best Employers in Canada” by Aon Hewitt for the past seventeen years.
The Trustees of the Fund have approved the contents of this press release.