ManageMent’s Discussion anD analysis The Company also has funding obligations related to its employee future benefit plans, which include defined benefit  pension plans. As at September 28, 2013, all of the Company’s registered defined benefit pension plans were in a deficit  position. The total accounting deficit was estimated at approximately $44.3 million. The Company monitors its pension  plan assets closely and follows strict guidelines to ensure that pension fund investment portfolios are diversified in line  with industry best practices. Nonetheless, pension fund assets are not immune to market fluctuations and, as a result, the  Company may be required to make additional cash contributions in the future. In fiscal 2013, cash contributions to defined  benefit pension plans increased by approximately $0.6 million to $8.5 million. During the year, the Company recorded a $1.9 million expense for future committed pension benefit updates, which will result in a one-time additional cash  contribution of approximately $3.1 million in 2014. Furthermore, the Company expects to pay in 2014 approximately  $2.3 million for the potential settlement of a Senior Executive Retirement Plan (“SERP”) of a senior executive following  his retirement. In total, the Company expects to incur cash contributions of approximately $13.0 million for fiscal 2014  related to employee defined benefit plans. For more information regarding the Company’s employee benefits, please refer to Note 19 of the audited consolidated financial statements. Cash requirements for working capital and other capital expenditures are expected to be paid from available cash resources  and funds generated from operations. Management believes that the unused credit under the revolving facility is adequate  to meet any future cash requirements. A total of 94,114,260 shares were outstanding as at September 28, 2013. During the year, a total of 23,500 shares were  issued under the Share Option Plan. As at November 14, 2013, 94,114,260 shares were outstanding. On December 16, 2011, the Company issued $60.0 million of fifth series 5.75% convertible unsecured subordinated  debentures, maturing December 31, 2018, with interest payable semi-annually in arrears on June 30 and December 31 of  each year, starting June 29, 2012.The fifth series debentures may be converted at the option of the holder at a conversion  price of $7.20 (representing 8,333,333 shares) per share at any time prior to maturity, and cannot be redeemed prior to  December 31, 2014. On or after December 31, 2014 and prior to December 31, 2016, the fifth series debentures may be  redeemed by the Company only if the weighted average trading price of the share, for 20 consecutive trading days, is at least  125% of the conversion price of $7.20. Subsequent to December 31, 2016, the fifth series debentures are redeemable at a  price equal to the principal amount thereof plus accrued and unpaid interest. On December 19, 2011, some of the net proceeds from the issuance of the fifth series debentures were used to redeem the  5.9% third series convertible debentures of $51.7 million plus accrued interest. On April 8, 2010, the Company issued $50.0 million of fourth series 5.7% convertible unsecured subordinated debentures,  maturing April 30, 2017, with interest payable semi-annually in arrears on April 30 and October 31 of each year, starting  October 31, 2010. The fourth series debentures may be converted at the option of the holder at a conversion price of $6.50 per share (representing 7,692,308 shares) at any time prior to maturity. On or after April 30, 2013 and prior to April 30, 2015, the fourth series debentures may be redeemed by the Company only if the weighted average trading price of the share, for 20 consecutive trading days, is at least 125% of the conversion price of $6.50. Subsequent to April 30, 2015, the fourth series debentures are redeemable at a price equal to the principal amount thereof plus accrued  and unpaid interest. OUTSTANDING SECURITIES Rogers Sugar Inc. 26