Bullboard - Stock Discussion Forum 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... see more

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TSX:SRV.UN - Post Discussion

Sir Royalty Income Fund > Latest share price move...

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Post by flamingogold on May 31, 2021 10:02am

Latest share price move...

Could be attributed to the re-opening of outdoor patios and eventual indoor dining rooms.

However, we also might get an update on what happens to Renegade Chicken as the pilot ghost kitchen ends today. My gut feeling is the program achieved success, now how it gets treated going forward remains to be seen, which leads to the next point. The AGM is in a few weeks where Mr. Janes and 2 nominees of his could become members of the board which would be good for shareholders.

Having said that, the big fish continue to accumulate, with Mr. Irvine's latest buy at $7.62.

Lots of postives in the weeks/months ahead.

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Comment by Amgamg67 on May 31, 2021 2:02pm

Who Mr Irvine and what can he do with all those shares? Could he block Mr. Janes nominees from getting on the board?

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Comment by flamingogold on May 31, 2021 2:59pm

He owns over 10% of the shares but has less than Mr. Janes overall. Who he casts his vote for is anyone's guess. Below is an approx. breakdown of ownership. At the moment, over 50% is still held by individual investors like us so our vote bears weight so giving Mr. Janes your support will make a difference. https://www.marketscreener.com/quote/stock/SIR-ROYALTY-INCOME-FUND-1411775/company/

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Comment by Amgamg67 on May 31, 2021 3:48pm

Thanks for the quick response Flamingogold. It's my plan to support Mr Janes, when he makes the request for votes. ;-)

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Comment by BlueJay2020 on May 31, 2021 4:14pm

I will be expecting a call from Lembit to offer me a good steak dinner at Scaddabush in return for my 0.2% of the votes :)

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Comment by flamingogold on May 31, 2021 5:05pm

Curious if anyone has rec'd their voting docs as I have not. I have rec'd docs for most of my other securities for this year. I am with TD.

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Comment by BlueJay2020 on May 31, 2021 8:04pm

i have not received anything.

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Comment by Robsopinion on Jun 01, 2021 7:31am

Hey BJ, you still own over 10,000 units? I thought you sold out to lambit in the first offering? Im going to assume your comment is honest, but I'm wondering who else on this board owns over 10,000 units? And how much voting control this board has? I will go first and say that I do.

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Comment by BlueJay2020 on Jun 01, 2021 8:13am

Yep, as of now I own 14,000 - the exact same number I had prior to the $4.75 offer. I only tendered some and bought most back for not much more, on average, in the couple of weeks following and then topped up the rest in the last 2 weeks once I saw how much Irvine and Janes were buying! If I knew how to post a screenshot, I would. :) At the end of the day, I reckon my manouevring must have cost ...more

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