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Bullboard - Stock Discussion Forum Sir Royalty Income Fund SIRZF


Primary Symbol: T.SRV.UN

Consumer Cyclical Restaurants
SIR Royalty Income Fund (the Fund) holds investment in SIR Corp (SIR). The Funds' investment, SIR is engaged in the business of owning and operating full-service restaurants in Canada. SIR has concept restaurant brands, including Jack Astor’s Bar and Grill, Scaddabush Italian Kitchen & Bar, and Canyon Creek Chop House, signature restaurant brands, such as Reds Wine Tavern, Reds Midtown Tavern... see more

Bullboard (TSX:SRV.UN)

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Post by BoredDeveloperon Jan 06, 2021 12:48pm

Tricky to the end

Back when COVID first erupted, I went back and forth briefly on whether to keep any of my SIR holdings.  Pretty quickly I came to agree with somebody here who said SIR was just too opaque, that ...more  
108
Post by Grifteron Jan 06, 2021 12:26pm

$3.55 is a suckers offer.

18 months ago this was $15 a share, now that there is a vaccine they want to see how many suckers will sell their shares before the price starts to recover.
131
Discussion
Comment by wildrunner11on Jan 06, 2021 12:24pm

RE:RE:RE:RE:Offer price

And what amount of the fund is already owed by the Corp or related individuals. It might be difficult to vote this down. To me they saw the fund go from $1.50 to $3.00 and thought why should all ...more  
116
Discussion
Comment by WizardFutureon Jan 06, 2021 12:04pm

RE:RE:Offer price

$7 is my minimum. I vote no.
85
Discussion
Comment by Lazaroson Jan 06, 2021 12:04pm

RE:RE:Offer price

The release is interesting because it implies the non-SIR related independent directors think it is a low ball. There is no other reason for even mentioning a "hostile" takeover. The ...more  
107
Discussion
Comment by BlueJay2020on Jan 06, 2021 12:03pm

RE:RE:Offer price

They can shove their offer up their Jack Astors!
70
Discussion
Comment by BlueJay2020on Jan 06, 2021 11:59am

RE:Offer price

It's an opportunistic bull**** offer - if they can afford to shell out tens of millions for the royalty piece, it's quite clear that they are going to survive the pandemic - and they obviously ...more  
89
Discussion
Comment by wildrunner11on Jan 06, 2021 11:59am

RE:Offer price

This reminds me of HBC and Interwest, going private at cheap prices and then reorganizing and issuing new stock for significant profit.  The "we don't know why the stock ran up to 3.70 ...more  
94
Discussion
Comment by WizardFutureon Jan 06, 2021 11:53am

RE:Potentially going private for $3.55

Loll we're at the end of the pandemic... It should be worth at least $7. No way the offer will pass at $3.55...
62
Discussion
Post by ngtraderngon Jan 06, 2021 11:50am

Potentially going private for $3.55

Not great... Assuming the trust survives the pandemic intact it should be worth way more than $3.55/unit.
91
Discussion
Comment by BlueJay2020on Jan 06, 2021 11:47am

RE:RE:RE:RE:RE:RE:Trading halt - any guesses as to what the news is?

Indeed.  One might have expected that they would mention this in a press release yesterday - bit of course they had bigger fish to fry! The other angle is the closure might make an acquisition ...more  
71
Discussion
Comment by flamingogoldon Jan 06, 2021 11:42am

RE:RE:RE:RE:RE:Trading halt - any guesses as to what the news is?

Canyon Creek closing was no surprise. They continued to underperform even during good times. There were only 5 locations, now down to 3 and likely they are looking to exit completely based on CC's ...more  
56
Discussion
Comment by BlueJay2020on Jan 06, 2021 11:32am

RE:RE:RE:RE:RE:Trading halt - any guesses as to what the news is?

That's a bit melodramatic - they only closed 2 and they have 3 left.  Sounds a positive development if it means cash is conserved to invest in restaurants that are part of a more viable brand ...more  
58
Discussion
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