Cinram International Inc T.CRW.UN

NR.Board shake-up

[Kanuck]

Big change to the board..
IMO its a good thing.
The new members can't do worse that's for sure..
Hope the new guys are share holder friendly!


Press release from CNW Group

Cinram Announces Changes to Board Of Trustees

Wednesday, August 17, 2011

TORONTO, Aug. 17, 2011 /CNW/ - Cinram International Income Fund (together with its subsidiaries where applicable, "Cinram" or the "Fund") announced today that, effective immediately, Messrs. James MacDonald, Robert Normandeau and Andrew Brenton have resigned from the Board of Trustees of Cinram International Income Fund. The Fund will be looking to fill the resulting vacancies. As part of the recent amendments to its senior credit agreements Cinram committed to add a number of new independent trustees equal to one half of the board, excluding the Chief Executive Officer.

Mr. Anderson, Chairman of the Board, stated "We thank Jim, Rob and Andrew for their guidance and dedication to the Trust over the past four years."

The other independent Trustees, Messrs. Robert Poile, Henri Aboutboul and William Anderson and Steve Brown, Chief Executive Officer continue to serve as trustees.

[shapeshifter]

     Let's see what they come up with. They burned a ton of cash to pay off $30 mill. Still sitting on the 90$ mill owed. I sure hope they get some revenues coming in the next 6 months....     Sure feels like another ecession is just around the corner. Much worse this time as they don't have all the governments able to spend on stimulus this time

[Kanuck]

If Cinram has trouble paying their debt off with over 700 million in rev coming in..Then these guys are complete imbeciles..They can easily save the 30 mill by lowering mangement bonuses and pay and getting rid of a few..They don't deserve any perks..If they can't save this company and substantially increase share price with the the rev's the still have..Then I hope the board has