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 > Increased bid

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Comment by BlueJay2020on Feb 07, 2021 5:27pm

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Post# 32496934

RE:RE:RE:RE:Increased bid

I am quite happy that shareholders with a low cost base are selling, as it means that new holders have a higher cost base and will not settle for a rip-off deal! I am hoping we will see a lot restaurants opening in little over a week's time.

Fabozzi wrote:

I took a small amount off the table on Friday. My cost base is around $2. My only concern from a short-term perspective is that SIR Corp's funding for their initial "offer" may have been based on their ability to basically steal SIR Royalty. Now that that is very unlikely to happen I wonder if they can get funding for something above $5/share ? And the third undisclosed party may very well be opportunistic as well....I mean they likely would have considered $4.75, for example, to be a great offer given a 33% premium to Sir Corp. So there is a reasonable chance that Jane's $4.75 could be the best offer out there. If that's the case I'm happy to hold for the longer-term.