Annual report pursuant to Section 13 and 15(d)

Note 5 - Capital Stock

v2.4.1.9
Note 5 - Capital Stock
 12 Months Ended
Dec. 28, 2014
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]

5.

Capital stock


Common shares


Authorized share capital:


The authorized share capital of the Company at December 28, 2014 and December 29, 2013 consisted of:


 

(i)

26,000,000 shares of common stock, par value $0.01 per share: Holders are entitled to one vote per share and the right to share in dividends pro rata subject to any preferential dividend rights of any then outstanding preferred stock.


 

(ii)

5,000,000 shares of special voting stock, par value $0.01 per share: From time to time the Company may issue special voting stock in one or more series and will fix the terms of that series at the time it is created.


Issued and outstanding:


The outstanding number of common shares and exchangeable shares included in shareholders’ equity consisted of the following as at the following dates:


   

December 28, 2014

   

December 29, 2013

   

December 30, 2012

 
   

Number
of shares

     

$

   

Number
of shares

     

$

   

Number
of shares

     

 $

 
                                           

Common Stock

                                               
                                                 

Exchangeable shares:

                                               
                                                 

Balance at beginning of the period

    —     $ —       —     $ —       554,748     $ 5,249  

Shares issued pursuant to:

                                               

Conversion to common stock

    20       —       —       —       (554,748 )     (5,249 )
                                                 

Balance at end of the period

    20     $ —       —     $ —       —     $ —  
                                                 

Common Stock

                                               
                                                 

Balance at beginning of the period

    16,417,256     $ 390       16,344,193     $ 389       15,651,026     $ 382  

Shares issued pursuant to:

                                               

Exercise of stock options

    —       —       73,063       1       138,419       1  

Conversion of exchangeable shares

    20       —       —       —       554,748       6  
                                                 

Balance at end of the period

    16,417,276     $ 390       16,417,256     $ 390       16,344,193     $ 389  
                                                 

Total Common Stock

          $ 390             $ 390             $ 389  

 Exchangeable shares:


As at December 28, 2014, there were no outstanding exchangeable shares, 20 exchangeable shares were issued and converted to common shares during the period. No exchangeable shares were outstanding or converted as at December 29, 2013. During the period ended December 30, 2012 exchangeable shares of 554,728 with a carrying value of $5,249 were exchanged for common stock, with a carrying value of $6 with the difference recorded as additional paid-in capital. The special voting stock was cancelled once all outstanding exchangeable shares were redeemed.