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 Lazaroson Jan 08, 2021 11:28am

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Post# 32253997

RE:RE:RE:Statement from the Independent Trustees

logicandinertia wrote:

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.

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I completely agree. The structure makes the royalty less attractive without the corporate piece. However, if you read Receipe Unlimited's MD&A's, they are always complaining about how paying out the royalty to KEG Fund has hurt their margins and profitability. I'm surprised they didn't take a run at the Fund last summer.

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