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 flamingogoldon Jan 08, 2021 11:52am

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Post# 32254224

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

What are the chances the price get renegotiated higher or is this it and we are forked?

Tommy123 wrote: Yup. As other have said, if they buy it out they can pay $1.5 million annually in interest, an take in $10 million annually beginning in 2022, for an annual profit of $8.5 million. Alternatively, they can buy us out for $30 million now (plus $1.5 million interest), and then in 2022 re-launch through IPO at $10 a share and pocket a quick $53.5 million for a year's work with little risk.

If you assume that restaurants will recover in 2022 and the shares are worth $10 each, then anything below $9 a share is easy money for them.

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