Sir Royalty Income Fund T.SRV.UN

Alternate Symbol(s): SIRZF

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 > What a mess

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Comment by flamingogoldon Jan 08, 2021 12:27pm

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Post# 32254545

RE:RE:What a mess

So was the news released meant to be final or a bargaining chip/bully takeover threat by the Corpotation to get the trustees to come down on their demands?

logicandinertia wrote: Reading the statement from the Independent trustees, what SIR CORP may be proposing would be a collapse of the structure, and taking SIR CORP public in the process, as the idea of minority shareholders having shares in a private co is a non-starter.

Perhaps a complex undertaking, but this idea is much more palatable to me than some $3.50 buyout garbage. It would provide SIR CORP with a public vehicle and ability to access capital markets much more easily than what it faces today - a lender (BNS) who has seemingly severely restricted the ability for the current structure to operate (in that accrued commitments are supposed to be paid to fund holders), The addition of a larger equity component allows SIR with a more viable currency.