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, Reds Square One, and The Loose Moose, which are used by SIR under a license agreement with SIR Royalty Limited Partnership (the Partnership. The Fund receives distribution income from its investment in the Partnership and interest income from the SIR Loan. The Fund indirectly participates in the revenues generated under the License and Royalty Agreement through its Investment in the Partnership.

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Sir Royalty Income Fund > Bid

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Comment by BlueJay2020on Jan 11, 2021 4:55pm

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Post# 32272072

RE:RE:RE:RE:Bid

Oh, I agree it makes excellent sense for SIR, and will be good for the bank in the long-run - and terrible for us. I just don't think it's the bank that's driving this and putting pressure on SIR, that's all. If things improve such that they start paying out the royalty, then the bank will have nothing to worry about - whether SIR CORP or the Fund gets the royalty.

Lazaros wrote: The royalty SIR would no longer payout would go straight to cash flow. This is a no brainer for them or a lender; they quickly and meaningfully get a bump from keeping the royalty. They'd make more from that then any interest they'd have to pay to finance the deal. This make excellent sense for SIR, but for us, not so much.

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