Sir Royalty Income Fund T.SRV.UN

Alternate Symbol(s): SIRZF

Financial Services Asset Management

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 > Closure of 3 Restaurants...

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Comment by BlueJay2020on Feb 09, 2021 10:35pm

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Post# 32521392

RE:RE:Closure of 3 Restaurants...

The timing of this announcement is also interesting - pushing the adjustment to units back a year, as well as just 2 days before Jane's offer deadline. Will this announcement push more people to accept Jane's offer - if so, that wouldn't seem to be good for Sir Corp.

As has been said, this is a very messy situation and all kinds of levers that Sir Corp can pull. We're almost in a dual share class situation like Corus, where we don't have much leverage at all, other than to sit and wait and hope the business turns around and isn't torpedoed by management! However, my gut is telling me to hold - if I were to sell now I wouldn't be able to get back in.

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