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 > My issue with the GOLD proxy

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Comment by flamingogoldon Jun 14, 2021 3:53pm

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Post# 33383068

RE:My issue with the GOLD proxy

SIR has always had free reign of the fund up to now to do as it pleases. I am not looking to take revenge here, but that lowball bid by SIR was not an easy pill to swallow and I am thankful we have an activist investor who had the means to stand up for us little fish and slam the door on that opportunistic bully offer. That blue proxy is gold to me, I will be submitting mine no doubt as soon as I can get my hands on it!

Lazaros wrote: Fowler and team spin an interesting yarn, and if I haven't lived it, I might believe them....BUT....as much as they try to paint Lembit as an opportunist looking to take over SRV.UN (listing all his open-market purchases), their timeline completely ignores their initial low-ball bid of $3.55. Lembit only showed up after that insulting offer.

Then they imply he shouldn't have been buying while negotiating a compromise with them, but every PR I saw come out of SIR was that they did not want to negotiate. What am I missing here?

Also, as another astute board poster mentioned, 9 directors for a tiny fund like this is a ridiculous waste of money.

Nor does their current tone match their tone back then. I have over 10K shares split over a few accounts, and will vote BLUE as soon as I receive my proxy.