VANCOUVER, British Columbia, May 10, 2023 (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 March 27, 2023 were elected as trustees of the Trust at its annual meeting of unitholders held on May 9, 2023 (the “Meeting”). The results of the voting for each nominee are as follows:
| Nominee | Votes For | Votes Withheld | ||||
| No. | % | No. | % | |||
| Christopher Charles Woodward | 8,694,502 | 98.51 | % | 131,855 | 1.49 | % |
| Tim Kerr | 8,819,244 | 99.92 | % | 7,113 | 0.08 | % |
In addition, the Fund reports that the appointment of KPMG LLP as the Fund's auditors for the 2023 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.
With approximately 10,000 employees, over 100 restaurants and annual system sales approaching $700 million, 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 the number one restaurant company to work for in Canada in the latest edition of Forbes "Canada's Best Employers 2023" survey, securing third place in the overall ranking across all industries in the country.
The Trustees of the Fund have approved the contents of this press release.
