NEW: Watch a recording of the meeting by clicking the link below
Annual Members' Meeting - 15th September 2020 at 6.30pm
Our Annual Members Meeting (AMM) was due during the lockdown period but with every thing else that has been happening around us this was not a priority and postponed for all the obvious reasons. However we are now in a position to go ahead with it in some form so please make a note in your diaries if you wish to 'tune in'.
Our last AMM was a very vibrant event with around 60 present in the pub and a lot has happened since to report on. With the current social distancing rules it is sadly not going to be possible to have a similar get together event this year. We have thought about the options and have decided that a virtual meeting using ZOOM is the best way forward. We realise this may not suit everyone but with the way we plan to hold the meeting we hope we are able to accommodate most people.
The formal agenda and other papers for the meeting can be found below together with a presentation that will be used to take us through the meeting. The reason for sending this out in advance is so that, if you want to, you can raise questions in advance as it will be different from when we are all together in the same room. There will also be opportunities during the meeting but the logistics of how many ZOOM in will dictate how we can handle these on the day and if for any reason we are not able to deal with everything there will be written answers after the meeting.
For those who are not used to ZOOM it is video conferencing system and full instructions will be given when you let us know that you will be joining the meeting. It is straightforward - you just need access to a computer, tablet or smartphone. On the day you click on a link that will be given and then another click to 'join the meeting ' and that's it.
We have previously reported that the first member interest payment was due but we deferred paying this and used the equivalent money, together with a saving by deferring our loan repayments, to offer a three month rent free period for the pub whilst it had to close. We still feel this was the right action to support the pub and Tom and Becci's business and even with changed arrangements for eating and drinking, it is great to see the pub reopen with people enjoying the place again.
We are grateful for everyone's support with this and are going to ask to stretch this just that little bit further.
With both sensible management of our finances during lockdown and with the pub reopening our finances are sound and we could pay the 1% interest in line with the original shareholder prospectus and our business plan. However, we are not done with COVID yet and do not know what might be around the corner. Therefore, we are proposing not to pay the interest due this year but hold the resource within our accounts and continue to monitor trading conditions into next year. If all plays out well with no further closures etc. and our finances remain good then we would propose paying this (2019) interest with the 2020 interest next year.
There will be more on this at the meeting but we hope that an advance explanation of what will be proposed is helpful.
Joining the meeting
If you want to join the virtual meeting please leave a reply to this post or your individually addressed invitation. Also, if you have any questions in advance please let us know.
As ever stay safe! We look forward to seeing you for the virtual AMM or of course in the pub where trading since reopening is good with the revised Covid secure offering, takeaway service, bed and breakfast accommodation and the shop coming online (literally) soon!
The Directors, Exelby Green Dragon Community Pub Ltd