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.

TSX:SRV.UN - Post by User

Sir Royalty Income Fund > Statement from the Independent Trustees

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Comment by logicandinertiaon Jan 08, 2021 12:49pm

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Post# 32254761

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

Banker would use multiple valuation methods, including historical results, comparable company (even today, comps are valued much higher), and discounted cash flow (likely using next 5 or 10 years as range). Unless they heavily weight SIR bankruptcy risk, hard to see how somebody rationalizes a $30mm buyout for an asset that has been distributing $10mm per year for 15 years (up to 2019)...

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