Ken Fowler Enterprises Ltd. Reports Proposed Sale of Units of SIR Royalty Income Fund
BURLINGTON, ON, Nov. 24, 2017 /CNW/ - Ken Fowler Enterprises Ltd. ("KFEL"), which owns 422,300 units of SIR Royalty Income Fund (the "Fund") (TSX: SRV.UN), announced today that it intends to sell some or all of its units. The reason for the sale is because KFEL has liquidity needs. This should not be construed as a view on the merits of an investment in the Fund, which KFEL has held for many years.
Peter Fowler, the CEO of the Fund and of its operating entity SIR Corp., has resigned as a director and agreed not to take part in any decisions of KFEL related to the units in his capacity as one of the three executors of the estate of the late Ken Fowler. Accordingly, KFEL does not believe that it is an insider of the Fund.
About SIR Royalty Income Fund The Fund is a trust governed by the laws of the province of Ontario that is entitled to receive distribution income from its investment in the SIR Royalty Limited Partnership and interest income from the SIR Loan.
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