BPF.UN.CA Arlimov History & Description — Boston Pizza Royalties Income Fund
The Fund is an open-ended limited purpose trust. The Fund was established to indirectly, through the Boston Pizza Royalties Limited Partnership, acquire the trademarks and trade names owned by Boston Pizza International Inc. ("BPI") and used in connection with the operation of Boston Pizza restaurants in Canada (collectively, the "BP Rights"). The Fund was also established to acquire, directly from a bank, the BPI loan in the principal amount of C$24 million. As of Dec. 31, 2010, BPI operated 334 restaurants in the Royalty Pool, with all but three of the restaurants owned and operated by independent franchisees.