Scully Royalty Ltd. Files 6-K Report

Ticker: SRL · Form: 6-K · Filed: Dec 31, 2024 · CIK: 16859

Scully Royalty Ltd. 6-K Filing Summary
FieldDetail
CompanyScully Royalty Ltd. (SRL)
Form Type6-K
Filed DateDec 31, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$0.001, $3.25 million, $13, $131, $118
Sentimentneutral

Sentiment: neutral

Topics: 6-K, foreign-private-issuer, company-update

TL;DR

Scully Royalty Ltd. (SRL) filed a 6-K, check it for latest financials.

AI Summary

Scully Royalty Ltd. filed a Form 6-K for the six months ended June 30, 2024, and also as of December 31, 2024. The company, formerly known as MFC Industrial Ltd., is based in Shanghai, China. This filing is a report of a foreign private issuer.

Why It Matters

This filing provides updated information for investors regarding Scully Royalty Ltd.'s financial reporting status as a foreign private issuer.

Risk Assessment

Risk Level: low — This is a routine filing for a foreign private issuer and does not appear to contain significant new financial or operational information.

Key Players & Entities

  • Scully Royalty Ltd. (company) — Filer of the report
  • MFC Industrial Ltd. (company) — Former name of the registrant
  • 001-04192 (company) — SEC file number
  • 20241231 (date) — Period of report and filing date
  • June 30, 2024 (date) — Six months ended date

FAQ

What is the purpose of a Form 6-K filing?

A Form 6-K is a report of foreign private issuers required to be filed with the SEC to provide information that the issuer makes or is required to make public pursuant to the laws of its home country, or that it furnishes or is required to furnish to its security holders.

What is Scully Royalty Ltd.'s former name?

Scully Royalty Ltd. was formerly known as MFC Industrial Ltd.

What is the SEC file number for Scully Royalty Ltd.?

The SEC file number for Scully Royalty Ltd. is 001-04192.

What period does this Form 6-K report cover?

This Form 6-K report covers the six months ended June 30, 2024, and is also filed as of December 31, 2024.

Where is Scully Royalty Ltd. located?

Scully Royalty Ltd. is located in Shanghai, China, with its office at Room 2103 Shanghai Mart Tower, 2299 Yan An Road West, Changning District, Shanghai.

Filing Stats: 4,491 words · 18 min read · ~15 pages · Grade level 12.7 · Accepted 2024-12-31 08:30:33

Key Financial Figures

  • $0.001 — in to numbers of our common shares of US$0.001 par value each are referred to as the &
  • $3.25 million — osed material, with minimum payments of $3.25 million per annum. The Scully Iron Ore Mine
  • $13 — traded at an approximate 11% premium (US$13), with an average price of US$131 per t
  • $131 — ium (US$13), with an average price of US$131 per tonne compared to US$118 per tonne
  • $118 — price of US$131 per tonne compared to US$118 per tonne for the Platts 62% Fe index.
  • $276 million — al milestones, including completing a US$276 million financing and commencing operations at
  • $250 million — . The transaction resulted in a minimum $250 million equity investment in Tacora. (i) Carg
  • $3 billion — t had assets under management of almost $3 billion as at December 31, 2023. (iii) (iii)
  • $2 billion — s had assets under management of almost $2 billion as at December 31, 2023. Historical Mi
  • $245 million — instance, Champion Iron Ore announced a $245 million investment from Nippon Steel and Sojitz
  • $0.26 — licy with the following dividend: - US$0.26 per Common Share to be paid on February
  • $15 million — ncludes debt with a principal amount of $15 million and equity. The continued equity holdin
  • $52.3 million — re, we reported assets held for sale of $52.3 million and liabilities associated with assets
  • $17.4 million — associated with assets held for sale of $17.4 million as at June 30, 2024, and we recognized
  • $18.6 million — ognized a non-cash impairment charge of $18.6 million in connection with this transaction in

Filing Documents

From the Filing

U.S. SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of December, 2024 Commission File No.: 001-04192 (Translation of Registrant's name into English) Room 2103 Shanghai Mart Tower, 2299 Yan An Road West, Changning District, Shanghai China 200336 (Address of office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F Report for the Six Months Ended June 30, 2024 (December 31, 2024) All references in this document to "

amp;quot; and "dollars" are to Canadian dollars, all references to "US
amp;quot; are to United States dollars and all references to "Euro" or "€" are to the European Union Euro, unless otherwise indicated. Unless the context otherwise indicates, references herein to "we", "us", "our", the "Company" or "SRL" are to Scully Royalty Ltd. and its consolidated subsidiaries. Unless otherwise indicated, references herein to numbers of our common shares of US$0.001 par value each are referred to as the "Common Shares". The following report and the discussion and analysis of our financial condition and results of operations for the six months ended June 30, 2024 should be read in conjunction with our unaudited interim financial statements and notes thereto for the six months ended June 30, 2024 and the annual audited financial (the "SEC") and applicable Canadian securities regulators. Our financial statements for such periods have been prepared in accordance with International Financial Reporting Standards ("IFRS"), as issued by the International Accounting Standards Board ("IASB"). Non-IFRS Financial Measures This document includes "non-IFRS financial measures", that is, financial measures that either exclude or include amounts that are not excluded or included in the most directly comparable measure calculated and presented in accordance with IFRS. Specifically, we make use of the non-IFRS measure "EBITDA". EBITDA is defined as earnings before interest (finance costs), taxes, depreciation and amortization. Our management uses EBITDA as a measure of our operating results and considers it to be a meaningful supplement to net income as a performance measurement, primarily because we incur significant depreciation and EBITDA eliminates the non-cash impact. EBITDA is used by investors and analysts for the purpose of valuing an issuer. The intent of EBITDA is to provide additional useful information to investors and the measure does not have any standardized meaning under IFRS. Accordingly, this measure should not be considered in isolation or used in substitute for measures of performance prepared in accordance with IFRS. For a reconciliation of net income from continuing operations to EBITDA, please see " Results of Operations ". Disclaimer for Forward-Looking Information Certain statements in this document are forward-looking our future growth, results of operations, performance and business prospects and opportunities. Forward-looking statements consist of underlying our royalty interest, future business prospects and any statements regarding beliefs, expectations or intentions regarding the future. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", variations or comparable language of such words and phrases or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. (i) While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits we will obtain from them. These forward-looking statements reflect our current views and are based on certain assumptions and speak only as of the date hereof. These assumptions, which include our current expectations, estimates and assumptions about our business and the markets we operate in, the global economic environment, interest rates, commodities prices, exchang

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