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 > We have a competing offer!

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Comment by BlueJay2020on Jan 27, 2021 10:41am

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Post# 32398449

RE:RE:We have a competing offer!

Well, if anyone wants to increase the value of my shares by 10%, I am all for it! I managed to add a few more shares at $3.73 this morning.

This is just another step in the process, and not an end game - just like the original offer at $3.55 wasn't. Now there is another player at the table - they may want more shares, and they may be prepared to pay more. It's very interesting to see just who is interested in this type of royalty vehicle - to be honest I wasn't sure someone else would emerge.

The original offer looks dead in the water now, so what will the next move by SIR Corp be? As I keep saying, every day they delay, the price goes up. We are now looking at circa $5 being the minimum next offer, versus it being potentially quite tempting.