/Not for release over US newswire services/
TORONTO, June 16 /CNW/ - (TSX:MEW.UN): Menu
Foods Income Fund (“Menu” or the “Fund”) announced today its distribution of
9.00 cents per unit for the month of June 2005, payable on or before July
15, 2005 to unitholders of record on June 30, 2005.
The Fund's policy is for unitholders of
record on the last business day of a calendar month to receive distributions
during the thirty days following the end of such month.
Holders of units who are non-residents
of Canada will be required to pay all withholding taxes payable in respect
of any distributions of income by the Fund.
The Fund also announced that Menu Foods
GenPar Limited (the general partner of Menu Foods Limited Partnership, a
subsidiary of the Fund (“MFLP”)) declared a distribution of 9.00 cents per
unit to holders of Class B Exchangeable Units (“Class B Units”) in MFLP for
the month of June 2005 to unitholders of record on June 30, 2005.
During the month of June 2005, holders
of 1,498,260 Class B Units converted those units into Units of the Fund. The
holders of the 11,133,655 remaining Class B Units have agreed to forego the
receipt of $847,251 of the June 2005 distribution (representing
approximately $0.0761 per Class B Unit). Such unitholders shall be entitled
to a reimbursement of such foregone distributions only to the extent the
Fund generates sufficient distributable cash.
Menu is the leading North American
private-label/contract manufacturer of wet pet food products sold by
supermarket retailers, mass merchandisers, pet specialty retailers and other
retail and wholesale outlets. Menu currently produces more than one billion
containers per year.
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For further information: please contact:
Mark Wiens, Chief Financial Officer, Menu Foods GenPar Limited, (905)
826-3870