Sir Royalty Income Fund SIRZF

RE:Lembit’s Gambit

[flamingogold]

Bravo Mr. Janes. Without his activism we would have been crushed by now. I have been through this type of battle before, a few years ago when Air Canada tried to bully Aimia which owned the Aeroplan loyalty membership plan. After a bully offer, Aimia was saved by two American acitivist investors.

The outcome here is still unknown. But, I applaud Mr. Janes for taking a stand. Particular with Renegade Chicken. On the weekend I received an eblast from Renegade since I am a regular Jack's and Scaddabush customer. It peeved me off because as shareholders we don't benefit from their sales yet they get to take advantage of the loyalty list that was created on the back of a loan that SIR owes to us, and even more insulting, a business they run out of kitchens we funded. As Mr. Janes writes,"the "capital expense to launch Renegade Chicken ghost kitchen within SIR's current kitchens is minimal, and for the majority of locations, there is nominal additional equipment required".

Essentially, Renegade is stealing sales from us by promoting to Jack's and Scaddabush customers. "SIR has taken the positon that the revenues derived from this take-out service being provided by Jack Astor's is solely for its own benefit. Mr. Janes believes that unitholders are legally entitled to a royalty on sales of Renegade Chicken, or any other products, prepared in Jack Astor's kitchens with Jack Astor's staff and utilizing Jack Astor's point-of-sale processes".

Thank you Mr. Janes!

BlueJay2020 wrote:

His patience has run out, nominating himself and two allies as independent directors to replace the current ones. Interesting comments about Renegade Chicken as well. 

Grab the popcorn (chicken).