Sir Royalty Income Fund SIRZF

Lembit and SIR settle

[Lazaros]

They have come to an agreement. 

https://www.newswire.ca/news-releases/sir-royalty-income-fund-sir-corp-and-lembit-janes-announce-settlement-of-proxy-contest-856121390.html

[BlueJay2020]

Well, well, well. Fowler must have read this board and realized the writing was on the wall.  The standstill agreement hints at what Fowler was/is worried about and this gives 18 months of breathing space.  

[Amgamg67]

I'm good with this board. Just need to get the pkg.

[flamingogold]

How timely, I had just received my blue proxy control number and was about to vote too!

[jcw604]

So the enemies become alliance?

[BlueJay2020]

Little more than a ceasefire as far as I can see. However, Irvine, Janes and Fowler could in theory mount a takeover, but I think the asking price would be too rich for it to make sense.  

[flamingogold]

and this peaceful alliance is.... "good news for the fund and its unitholders," said Peter Fowler, chief executive officer of SIR Corp. "It removes uncertainty with respect to the future of the fund, which will enable SIR Corp. to focus 100 per cent on capitalizing on the recent easing of operating restrictions on restaurants in the markets in which we operate. This, in turn, is

[Robsopinion]

So Fowler has taken his name off the list, for what I can only assume is an attempt to save face when the votes roll in.  I wonder what this news will do to the SP tomorrow? I do not expect it to be positive.  I think I will hold off on my celebrating for now. 

[wildrunner11]

Fowler finally had to concede. I like that all the Jane group is part of every committee so we should be well informed of all events. also by Jane group only have 3 of 7 director, it show they do not want control.  so, let's get back to business and get good dividends paying out again. 

[BlueJay2020]

i am not particularly concerned about the SP tomorrow, but with the illiquidity everything is magnified, so who knows. Not sure this new slate will make a massive difference other than better disclosure.

[BlueJay2020]

Only modest SP activity so far today, as expected.  Next catalyst should be the announcement to restart current distributions.

[flamingogold]

This is a win-win, we get more disclosure, a strong voice for the fund if needed and SIR gets the all important majority 4th vote. Peace has been sown, now we can focus on prospertiy with dividends soon to be re-instated with great potential for growth in a post-pandemic booming economy.