E-Malt.com News article: 502

Canadian brewer, Big Rock Brewery Ltd., has announced the completion effective January 10, 2003 of the plan of arrangement to reorganize itself into Big Rock Brewery Income Trust. The company has announced that stockholders and option holders had "overwhelmingly" approved the conversion. The Alberta Court of Queen's Bench has also approved the plans.

The company, in which chairman and founder, Ed McNally, owns a 19.5% stake, said there will be no change in its business operations. “The Trust, indirectly through its operating entities, will continue to operate Big Rock's premium brewing business and all of the former securityholders of Big Rock hold all of the outstanding trust units of the Trust. The unitholders of the Trust are entitled to receive cash distributions paid by the Trust and will be entitled to one vote for each trust unit held at unitholder meetings,” the company said.


13 January, 2003