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Shareholder Rights Plan Approved By Shareholders And Accepted By The TSX

TSX: MFI

TORONTO, Dec. 22, 2011 /PRNewswire/ - Maple Leaf Foods Inc. (the "Company") announced today that the amended and restated shareholder rights plan agreement (the "Rights Plan") between the Company and Computershare Investor Services Inc., as rights agent dated as of December 5, 2011 was accepted by the Toronto Stock Exchange on December 21, 2011 in accordance with its rules and policies.  The acceptance by the Toronto Stock Exchange followed approval by shareholders of a resolution (the "Resolution") approving, ratifying and confirming the Rights Plan.

The Resolution was approved by (a) 96.25% of all votes cast by shareholders present or represented by proxy at the Company's special meeting (the "Meeting") held on December 14, 2011 and (b) 93.96% of all votes cast by shareholders present or represented by proxy at the Meeting other than votes cast by "Grandfathered Persons", being beneficial owners of 20% or more of the common shares at the time the Rights Plan was implemented.

The full text of the Rights Plan is available at www.sedar.com.

Maple Leaf Foods Inc. is a leading food processing company, headquartered in Toronto, Canada. The Company employs approximately 21,000 people at its operations across Canada and in the United States, the United Kingdom, and Asia. The Company had sales of $5.0 billion in 2010.

SOURCE Maple Leaf Foods Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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