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 > Statement from the Independent Trustees

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Comment by logicandinertiaon Jan 08, 2021 12:28pm

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Post# 32254553

RE:RE:RE:RE:RE:RE:RE:RE:Statement from the Independent Trustees

as per takeover rules, the independent committee must solicit an independent valuation (usually from a banker) which is used to gauge whether the offer is FAIR (a fairness opinion) for minority shareholders. If they elect that it is, then the offer is made public.. They still need 66% of minority shareholders to approve in order for transaction to be consummated.

In other words, the independent trustees are doing their job and this is not a fait accompli . Not sure what the composition of the shareholder base looks like, but pretty sure SIR (who rarely communicates with investors) don't have 66% locked up...

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