key management perSonnel and director tranSactionS entity with Significant influence over the company aSSociateS of the company other related partieS joint venture in which the company iS a venturer 92 HIGH lIneR FooDS InCoRpoRAteD The Company had no sales to or amounts due from related parties throughout 2010 or 2011 nor did the Company have any  transactions during 2010 or 2011 with entities who had significant influence over the Company or with members of key management  personnel including the Company’s Directors and their related interests.  The Company’s equity accounted for investee represents a 50% interest in HighKan Holdings Limited (January 1, 2011: 50%; January 3,  2010: 0%), a holding company with an 80% interest in Dencan Seafood Limited, which operates in the business of processing frozen  seafood products. The Company regularly purchases raw materials and finished goods from Dencan Seafood Limited. The Company  uses the raw materials in production for sale to its customers.  Pier 17 Realty Trust Inc. is the lessor in the lease contract for the Company’s processing plant in Malden, Massachusetts where the  Company pays market-based rent. Crystal Cold Storage & Warehousing Inc. provides a cold storage facility for the Company to which the Company pays a market-based  price for the products stored. A significant shareholder of Clearwater Seafood’s Limited Partnership indirectly owned a significant, non-controlling interest in the Company until June 16, 2011 when that shareholder ceased to be a significant shareholder in the Company. The Company  regularly purchases shellfish from Clearwater Seafood’s Limited Partnership at negotiated market prices. The Company sells the  shellfish to its customers.  Maritime Paper Products Ltd. is controlled by a company that until November 5, 2010 owned a significant, non-controlling amount of  the Company’s outstanding Common shares. The Company regularly purchases corrugated packaging from Maritime Paper Products  Ltd. at negotiated market prices. The Company uses corrugated packaging to ship its products to its customers.  As at December 31, 2011, Thornridge Holdings Limited owns 40.8% of the outstanding common shares and 19.1% of the outstanding  non-voting shares in High Liner Foods Inc. (January 1, 2011: 36.9% of the common shares and 18.2% of the non-voting shares). In July  2010, the Company granted a waiver under its shareholder rights plan in respect of a reorganization of its largest shareholder, Scotia  Investments Limited, which involved the transfer of all of its outstanding common and non-voting equity shares of High Liner held by  Scotia Investments Limited and its subsidiaries to Thornridge Holdings Limited effective November 5, 2010.  The Company has transacted with a number of these entities in the reporting period. The terms and conditions of the transactions  with key management personnel and their related parties were no more favourable than those available, or which might reasonably  be expected to be available, on similar transactions to non-key management personnel related entities on an arm’s-length basis. From  time to time directors of the Company, or their related entities, may purchase goods from the Company. These purchases are on the  same terms and conditions as those entered into by other Company employees or customers. Directors of the Company control 6.0% of the common shares of the Company. A number of Directors, or their related parties, hold positions in other entities that result in them having control or significant influence over the financial or operating policies of  these entities.