CONSOlIDATED STATEmENTS OF CHANgES IN SHAREHOlDERS’ EQUITy Accumulated  other  Non–voting  Common  Contributed  Retained comprehensive (In thousands of Canadian dollars) equity  shares  surplus  earnings  loss  Total Balance, January 1, 2011  $  15,011  $  63,315  $  8,917  $  65,557  $  (5,489)  $ 147,311  Other comprehensive loss  –  –  –  (1,076)   3,773  2,697  Net income for the period   – – – 18,180 – 18,180  Non-voting share dividends   – – – (707)  – (707) Common share dividends   – – – (5,184)  – (5,184) Share-based payments   –  451  –  – –  451  Shares repurchased  (710)  –  (511)  –  –  (1,221) Balance, December 31, 2011  $  14,301 $  63,766 $  8,406  $  76,770  $  (1,716)  $ 161,527  Balance, January 3, 2010  $  49,409  $  56,689  $  –  $  59,240  $  (2,138)  $  163,200 Other comprehensive loss  – – – (1,727)  (3,351)  (5,078) Net income for the period  – – – 19,985 – 19,985  Non–voting share dividends  – – – (859)  – (859) Common share dividends  – – – (4,379)  – (4,379) Share-based payments  – 33 – – – 33  Wind up of subsidiary: Shares cancelled  (4)  6,593 3 (6,592)  – –  Share retraction:  Shares repurchased  (25,480)  – – (111)  – (25,591) Shares cancelled  (8,914)  – 8,914 – –  –  Balance, January 1, 2011  $  15,011 $  63,315  $  8,917  $  65,557  $  (5,489)  $  147,311  See accompanying notes  54 HIGH lIneR FooDS InCoRpoRAteD