BURLINGTON, ON, Oct. 9, 2024
/CNW/ - SIR Royalty Income Fund (TSX: SRV.UN) ("the Fund") today
declared a cash distribution of $0.095 per unit for the period September 1, 2024 to September 30, 2024. The distribution will be
payable on October 31, 2024 to
unitholders of record as at the close of business on October 21, 2024.
As previously announced, SIR Corp. (SIR), which owns and
operates restaurants under license from a limited partnership
subsidiary of the Fund, continues to investigate a cybersecurity
incident that has impacted a portion of its IT infrastructure. Upon
discovering the incident, SIR immediately engaged third-party
cybersecurity experts to assist with containment, remediation and
investigation efforts.
SIR, the operating entity from which the Fund's equity income is
ultimately derived, continues to operate its restaurants and guest
payment platforms are secure. As this cybersecurity incident is
ongoing, the short-term impact of this event on the Fund's Royalty
Pool is still to be determined.
About SIR Royalty Income Fund
The Fund is a trust governed by the laws of the province of
Ontario that receives distribution
income from its investment in the SIR Royalty Limited Partnership
and interest income from the SIR Loan. The Fund intends to pay
distributions to unitholders on a monthly basis.
About SIR Corp.
SIR Corp. ("SIR") is a privately held Canadian corporation that
owns a portfolio of 54 restaurants in Canada. SIR's Concept brands include
Jack Astor's Bar and Grill® with 36
locations and Scaddabush Italian Kitchen & Bar® with 13
locations. SIR also operates one-of-a-kind "Signature" brands
including The Loose Moose® and Reds® Square One. All trademarks
related to the Concept and Signature brands noted above are used by
SIR under a License and Royalty Agreement with SIR Royalty Limited
Partnership. SIR also owns three additional restaurants, including
two Duke's Refresher® + Bar locations and Edna + VitaTM,
which are currently not part of the Royalty Pool. For more
information on SIR or the SIR Royalty Income Fund, please visit
www.sircorp.com.
SOURCE SIR Royalty Income Fund