Sir Royalty Income Fund T.SRV.UN

2.5 offers on the table

[Lazaros]

It looks like we have a solid floor with ample room to see the price increase. One offer for $3.55, another with an unknown price and a mini offer at $4.25.

I am curious who the third bidder is.  I'm also curious if Janes foods is a SIR supplier and might have some insight into their business that we don't.

Tomorrow promises to be interesting.

[BlueJay2020]

Good news!  This changes the landscape again.  A buyer who wants to  buy the entire trust would need to significantly outbid Sir Corp, because Sir Corp has the advantage that if it takes the Trust private it no longer has a $40M loan to repay. Plus there is no way that Sir Corp, who want to acquire what they don't own rather than sell what they do, are going to sell on the

[jcw604]

With the current price of the active trading SP, it is unlikely that Janes food will get what the total number of shares they wanted to get. After a night of thinking, I will only give them 5k of my shares at 4.25.

[lostcauses]

You can get 4.25 or more on the open market right now. But perhaps you want to give them more voting power ? Personally I follow the trustees guidance and wait for a 3rd better bid before parting with my shares.  

[BlueJay2020]

I think it is wise to hold, because the likelihood of another offer coming and exceeding $4.25 has got to be pretty high.  With at least three potential bidders, one of whom is a very motivated owner of the opco, we should be looking at $6 minimum. Although I am quite impatient to see where we end up, the reality is that the longer it takes, the more society can get back to normal and get the

[lostcauses]

I agree with BlueJay. However for me the decision is likely easier to make as i'm still underwater with my shares at the current SP.. Seeing restrictions and lockdowns winding down in the near future any interested third party would like to get an offer on the table asap b4 things return to 'normal'. Also there is plenty of money in the market due to various stimilus programs, so we

[lostcauses]

Also the 208 week (4 year) moving average stock price is $ 9.60. Selling with a ~ 50% discount. Dont think so.....

[BlueJay2020]

Yeah, that does simplify things a bit.  I am amazed at people that held all the way down to a buck fifty.  I got out in March and took the loss - I was already in a loss position as the stock had sunk quite significantly even before COVID and that was the final straw,  I kept my eye on it until the vaccines and have been adding ever since.  Ironically I now how over 5 times the

[jcw604]

If the market were soon trading above 4.25, Jane Food would likely get no shares. Now, 4.25 probably becomes the low end of price for any future trading days. As I have said earlier, it would be far better that they simply go to the market to get as many shares as they see the stock is worth and then announce a buyout at a fair price to avoid competing offers. That will be that only way that they