ST. CATHARINES, ON, Nov. 23 /CNW/ - Retail Dimensions Incorporated ("RDI"), a company controlled by Maureen Fowler, reported today that it has acquired 1,254,200 units of the SIR Royalty Income Fund (the "Fund"), representing approximately 23.4% of the issued and outstanding units. Following such purchase, it now holds 1,254,200 units of the Fund. The units were purchased by way of a private purchase agreement for $6.00 per unit from Ken Fowler Enterprises Limited. The units of the Fund were acquired and are held for investment purposes. RDI may in future make further purchases or sales of units of the Fund as circumstances warrant.
In connection with this purchase, RDI was not acting in concert with any of Ken Fowler Enterprises Limited ("KFEL"), Peter Fowler Enterprises Ltd. ("PFEL"), SIR Corp., in which PFEL holds an interest, which in turn holds securities exchangeable into a large number of units of the Fund, Ken Fowler, who also holds 115,000 units of the Fund, or Peter Fowler, who also holds units of the Fund. Maureen Fowler, the controlling shareholder of RDI, is married to Ken Fowler, the controlling shareholder of KFEL and the father of Peter Fowler. The units were sold by KFEL in order to enable KFEL to repay certain debt obligations to a bank.
SOURCE RETAIL DIMENSIONS INCORPORATED
For further information: For further information: Maureen Fowler, Retail Dimensions Inc., tel. (905) 688-9740, at: 110 Hannover Dr. Ste 203B, P.O. Box 24091, St Catharines, ON, L2R 7P7