Sir Royalty Income Fund SIRZF

Trading halt - any guesses as to what the news is?

[ChupacabraBueno]

Wednesday, January 6, 2021, 9:38 AM ET

TORONTO, Jan. 6, 2021 /CNW/ - The following issues have been halted by IIROC:

Company: SIR Royalty Income Fund

TSX Symbol: SRV.UN

All Issues: Yes

Reason: Pending News

Halt Time (ET): 9 : 27 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - Halts/Resumptions

View original content: https://www.newswire.ca/en/releases/archive/January2021/06/c1852.html

/CONTACT:

For further information about IIROC's trading halt policy, please see Trading Halts & Timely Disclosure (https://www.iiroc.ca/industry/marketmonitoringanalysis/Pages/Trading-Halts-Timely-Disclosure.aspx) at www.iiroc.ca under the Halts & Resumptions tab. Please note that IIROC staff cannot provide any information about a specific halt beyond what is contained in this halt notice. For general information about IIROC, contact IIROC's Complaints & Inquiries team at [e-mail] or 1-877-442-4322 (Option 2). For company-related enquiries, contact the company directly.

/Web site: https://www.iiroc.ca

 Copyright CNW Group 2021 

(END) Dow Jones Newswires

January 06, 2021 09:38 ET (14:38 GMT)

[Tommy123]

This post has been removed in accordance with Community Policy

[ngtraderng]

My guess: announcement that they're closing restaurants.

[Tommy123]

This post has been removed in accordance with Community Policy

[pjn0987654321]

My guess:  they've sold the business.  

[WizardFuture]

If they sold the business to like Recipe or MTY that would be great lol. Don't think recipe would buy now...

[bcsc]

Normally if the halt is due to pending news from the issuer, the news release indicates that fact. This halt was initiated by IIROC. What that indicates I am unsure.

[bcsc]

Sorry my bad, missed the pending news statement.

[BlueJay2020]

If it was closing restaurants, they would already have the press release ready and issued it.  It would be odd timing after getting banking support until the end of March, at least. Also why would we have had a run-up since the end of 2020?  I think there is something bigger and more positive afoot.  Sale to a bigger fish, who wants to eliminate the royalty component and will offer

[wildrunner11]

If so, really wish I could have got my purchase of more shares in. inthink it is positive news, with money cheap to borrow and this stock looking significantly undervalued to peers a good opportunity to buy.

[BlueJay2020]

Don't beat yourself up - incredibly difficult to get the timing right with such a volatile and illiquid stock.  I think the only way to have played it was steady accumulation on down days once the vaccine was announced and sentiment changed.  I probably ended up accumulating on more up days than down days, but if we get an offer well north of where we are it really won't matter!&

[Investor416]

they announced yesterday that a number of Canyon Creek locations are closing permanently.  sucks but maybe help in the long run.  if they survive at all

[BlueJay2020]

That's a bit melodramatic - they only closed 2 and they have 3 left.  Sounds a positive development if it means cash is conserved to invest in restaurants that are part of a more viable brand.

[flamingogold]

Canyon Creek closing was no surprise. They continued to underperform even during good times. There were only 5 locations, now down to 3 and likely they are looking to exit completely based on CC's website listing the closing of the Scarborough and Square One locations as an "opportunity". I am ok with this, allows them to focus on their strongest brands. It is with great regret that

[BlueJay2020]

Indeed.  One might have expected that they would mention this in a press release yesterday - bit of course they had bigger fish to fry! The other angle is the closure might make an acquisition more attractive because two unproductive locations have been conveniently axed at (presumably) no cost to the company. Wish they'd get this blasted announcement out though - I have work to do! :)