A&W Revenue Royalties Income Fund (AWRRF) Q3 2024 Earnings Call Transcript

A&W Revenue Royalties Income Fund (OTC:AWRRF) Q3 2024 Earnings Call Transcript October 15, 2024 3:00 PM ET

Company Participants

Susan Senecal – President and CEO
Kelly Blankstein – CFO

Conference Call Participants

Thomas Burke – Canaccord

Operator

Good day, everyone, and welcome to today’s A&W Revenue Royalties Income Fund Q3 2024 Financial Results. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question-and-answer session. [Operator Instructions] Please note, this call is being recorded. I will be standing by if you should need any assistance. It is now my pleasure to turn the conference over to Susan Senecal. Please go ahead.

Susan Senecal

Thanks very much, and good afternoon, everyone. Thank you for taking the time to attend our call today. I’m Susan Senecal. I’m President and CEO of A&W Food Services of Canada and the A&W Revenue Royalties Income Fund. And I’m joined by Kelly Blankstein, who’s the Chief Financial Officer of A&W Food Services and the Fund.

Before we go through the fund’s Q3 results, we’re going to share a brief but exciting update on the transaction that was publicly announced on July 21. This transaction, in which Food Services will acquire all of the Fund’s units from unitholders and form a new publicly traded company was approved by the Fund’s unitholders on October 8. Of the votes cast at the unitholder meeting, 99.2% were voted in favor of the transaction, which is a testament to the confidence that unitholders have in A&W’s strategic vision and the future growth potential of the combined company. The Ontario Supreme Court of Justice issued a final order approving the transaction on October 11, and the transaction will become effective after the close of business on October 17, 2024, subject to the satisfaction or waiver of certain customary closing conditions. Food Services shares