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

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Post by BlueJay2020on Jan 28, 2021 3:42pm

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Post# 32412849

Is this a free play?

Unless we think that Janes will pull out of their bid for any reason before the deadline - do we not have a quasi-free play situation between now and then? If a better offer comes, we take it, but if not we get a 25 cent gain on current SP? I guess there is a risk that more than 10% of the shares tender for their offer, so you only get some shares sold at that price, and then the SP falls afterwards, but I don't think that's significant.

One would think SIR will make the next move in the next week or so...

Obviously, no such thing as a free lunch, but on a risk/reward basis.....

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