Sir Royalty Income Fund SIRZF

Primary Symbol: T.SRV.UN

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 > Royalty payments to recommence July 7

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Comment by BlueJay2020on Jun 10, 2021 6:06pm

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Post# 33369609

RE:Royalty payments to recommence July 7

I a convinced that tomorrow's Ontario reopening will be a significant catalyst for the stock as restaurants come into peoples mind and experience. There are not a lot of ways to play the restaurant recovery in Canada, and when a potential new investor comes along, they will see SRV is still trading $6 below its long-term SP. I am expecting $9.50 tomorrow. Which means of course it will hit $8.

The next cataylst will probably be the commencement of current dividends, as another huge signal that we are back to normality. The catch-up of the historical stuff should be gravy at that point, but it should be a nice floor to the stock for a while if we can get $1 a month in total distributions a month until mid-2022.

flamingogold wrote: As per the gold proxy circular I received today...

"Current royalty payments to the Fund are to recommene effective July 7, 2021."

"The Corporation will be entitled to begin repaying deferred royalty payments under the condition that at least 25 restaurants have, for six consecutive weeks, been allowed the use of at least 50 indoor dining seats and the use of their patios (with social distancing). The repayments are expected to be made in equal monthly installments such that the deferred amounts are targeted, absent any defaults occurring, to be fully repaid by the credit maturity date of July 6, 2022".

I am very optimistic that with the continued successful vaccine rollout that by the Fall we will achieve the minimum indoor seating requirement to begin receiving the deferred royalty payments.