ST. CATHARINES, ON, Feb. 7 /CNW/ - Ken Fowler announced today that he has
acquired, through the facilities of The Toronto Stock Exchange, beneficial
ownership of 147,000 Units of SIR Royalty Income Fund (the "Fund") (TSX:
SRV.UN) directly and indirectly through his controlling interest in Ken Fowler
Enterprises Limited (KFE) between January 29, 2008 and February 7, 2008. The
aggregate acquisition represents approximately 2.7% of the issued and
outstanding Units of the Fund.
Ken Fowler now owns, directly or indirectly, including through
affiliates, 578,400 Units of the Fund. A related party of Ken Fowler, SIR
Corp., also owns 1,648,544 Class A GP units of SIR Royalty Limited Partnership
which are exchangeable on a one-for-one basis into Units of the Fund,
representing 100% of the issued and outstanding Class A GP units. Ken Fowler
may be considered under applicable securities laws to act jointly or in
concert with SIR Corp. Ken Fowler may also be considered under applicable
securities laws to act jointly or in concert with Peter Fowler, who owns,
through Peter Fowler Enterprises Limited (PFE), 31,500 Fund Units,
representing approximately 0.6% of the issued and outstanding Units of the
Fund. As a result, Ken Fowler may be considered under applicable securities
laws to beneficially own 2,258,444 Units representing 32.2% of the Fund Units
(including the Class A GP units on an as if exchanged basis).
The Fund Units were purchased for investment purposes. Ken Fowler may
make further purchases and/or sales of Units of the Fund, as circumstances
warrant. At the date hereof, Ken Fowler has no intention of commencing a
formal take-over bid or engaging in a going private transaction to acquire
Units of the Fund.
There are no relevant agreements related to the Fund Units involving Ken
Fowler. SIR Corp. and others, however, are party to numerous agreements with
the Fund and related entities as described in the Fund's public disclosure
Ken Fowler may be considered under applicable securities laws to be
acting jointly or in concert with Peter Fowler, PFE and/or SIR Corp.
For further information:
For further information: Greg Tremeer, Ken Fowler Enterprises Limited,
at 110 Hannover Dr. Ste 203B, P.O. Box 24091, St Catharines, ON, L2R 7P7, Tel.