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 > Increased bid

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Comment by BlueJay2020on Feb 05, 2021 9:45am

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Post# 32482600

RE:Increased bid

Well, Sir Corp own 20% and Janes another 10%. I doubt there would be anyone else comparable to those two holdings, although the mystery 'third bidder' may also have a significant stake.

I think this is a classic strategy of shaking the tree and seeing how much fruit falls each time. We saw this recently with BPY - the only difference here is that there are multiple players at the table.

SIr Corp is lucky that the terribly slow-rollout of the vaccines in Ontario is buying them a little more time to decide what to do. The good news is that each time Janes increases the offer without getting buyers, it shows Sir Corp what they need to do to get the shares.

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