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 10:05am

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Post# 32253058

RE:RE:Statement from the Independent Trustees

An open market process to sell SIR ROYALTY would be challenging, given the structure of the CORP (PRIVATE), PARTNERSHIP (PRIVATE), and ROYALTY (PUBLIC) and their interdependence.

I suppose the CORP could be bought and a buyer to takeout and collapse all the structures, but note that when KEG CORP (PRIVATE) was bought out, they left the ROYATY (PUBLIC) intact and it still trades today.

So i wouldn't put too much hope on somebody buying out the ROYALTY alone, given the legal relationships between the other two entities.

Most likely path is the continued "muddle along" until vaccine rollout is in full swing and things reopen.

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