Draft – 2022 AGM Minutes

For Approval by the Members at the 2023 AGM

Minutes of the AGM held at The Victoria Hotel, Beeston on Saturday 18 June 2022, as approved by the Committee on 06.08.22 and subject to approval by the Members at the 2023 AGM.

Present: 69 Club Members; the Committee (9 of 12, with appropriate apologies from those presently incapacitated); Allens, the Club’s administrators; Hadfield’s, the Club’s independent examiner/reporting accountants; the Company Secretary.

1) Chairman’s welcome – The Chairman explained that he did not intend to reprise the material in the quarterly reports already provided to Members during the year via Club Matters; suffice to say that the mood and outlook had darkened on both economic and political fronts since the 2021 assembly at Beeston, values had not returned to pre-Covid levels and, unsurprisingly, the unit value had fallen during the past 12-months.

2) Approval of minutes of 2021 AGM – These were approved and seconded from the floor.

3) Election of Committee 2022 – 2023 – There being no new nominations, the re-election of the four retiring Committee members was proposed and seconded from the floor.

4) Members’ questions and observations – No written questions had been received prior to the meeting and initially there were none from the floor either. The Chairman reminded the AGM that the Committee would greatly value input from the Members around the points raised in Note 3) to today’s agenda, i.e., investment strategy and ‘closed membership’. With regards the former, he continued, illiquidity would forever be an issue, along with the differing and competing objectives of retail investors willing to crowdfund and the unrealistic expectations of certain founders.

The Committee’s general view was that, despite the above and the occasional setback, such as West Berkshire, Club Members supported CMIC in making token investments in small players who are CAMRA-friendly and whose founders appear diligent and grounded. In response to this, several members then took the floor to address questions or observations to the Chairman, summarised (anonymously) as follows: –

  • i) might CMIC consider investing directly in a pub(s) to operate for its own account? An interesting idea, but the Committee considers the purchase cost of even a modest, single establishment to be disproportionate to the current overall fund value, and how would the Committee be able to actively manage such a venue(s) etc?
  • ii) on the subject of illiquid investments in small players, 5 Members expressed views which were generally supportive of the cautious stance already being adopted by the Committee – in essence, in spite of the obvious associated risk, there is a place for such investments going forward, provided the overall exposure is limited to (say) no more than 10% of the overall fund.
  • iii) in respect of the closed membership point, 3 members expressed views from the floor both against and in favour. ‘Against’, CMIC is here to support CAMRA’s ideals and this direct linkage between the two organisations should continue in such a way that anyone exiting CAMRA should be obliged to exit CMIC; ‘in favour’, longstanding, but departing, CAMRA members should be able to freeze or otherwise let their CMIC holding ride upon departure (from CAMRA). The feeling of the meeting was sympathetic to this point whilst agreeing with the principle of the first. The meeting agreed that the Committee should consider this point further and report back in due course.

5) Approval of Accounts for ye 31 March 2022 – Proposed and seconded from the floor, to a round of applause – no questions.

6) Appointment of Reporting Accountants for 2022-2023 – Proposed and seconded from the floor.

7) Any other business – The Chairman expressed his thanks to the Committee members for their efforts during this challenging year and also to Allens, Hadfields, the Company Secretary, Linda and her team at ‘The Vic’ for the usual excellent spread, and, last but not least, Castle Rock Brewery for its overall sponsorship of the day.

Next year’s AGM would be held here at Beeston on Saturday, 17 June, with Jane Kershaw of Joseph Holt confirmed as guest speaker.

Neil Kellett announced that we had recently received an offer from Belgian investee, Cantillon, to buy back our shareholding in this operation, on terms which were considered favourable, and which had already been accepted by the Committee – a farewell tour to the venue had been arranged for 10 October, and Members interested in participating (maximum 25) should make themselves known to Janet immediately please!

The assembled were then treated to an insightful and entertaining appraisal of the development of the hop industry, with questions, by Dr Peter Darby. The Charman and Members then thanked Peter in customary fashion.

Nick Metcalfe, Company Secretary, 9th August 2022

CMIC AGM 2022

Annual General Meeting, held on Saturday, 18 June 2022

69 Members, most of the Committee, Allens’ Admin Team and representatives from Hadfields attended the AGM on Saturday, 18 June at the Victoria Hotel, Beeston.

The resolutions were all passed and the assembled, suitably fed and watered, then received an insightful and entertaining appraisal of the hop industry by acclaimed ‘hopmeister’ Dr Peter Darby. Full minutes will be uploaded after the August Committee meeting and please be advised that the date for the 2023 AGM is now set for Saturday, 17 June, same time, same place.

Nick Metcalfe, Company Secretary, 21st June 2022

Agenda for 2022 CMIC Annual General Meeting

Agenda

for Annual General Meeting to be held on Saturday, 18 June 2022 at 12noon

1) Chairman’s welcome

2) Approval of minutes of 2021 AGM (note 1)

3) Election of Committee 2022-2023 (note 2)

4)  Members’ questions and observations (note 3)

5) Approval of Accounts for ye 31 March 2022

6) Appointment of Reporting Accountants for 2022-2023 (note 4)

7) Any other business

 

Nick Metcalfe, Company Secretary, 31 May 2022

Agenda Notes for 2022 CMIC Annual General Meeting

Note 1) Minutes of the 2021 AGM are already on the website (see upload dated 20 October 2021)

Note 2) No nominations for election to the Committee had been received at the Admin Office by 15 May. Under Club rule 4), four existing Committee members are due to retire by rotation (Ann Mace, Chris Holmes, Bob Crumpton, Neil Kellett), all of whom have expressed their willingness to continue in office.

Note 3) Questions and observations can be raised from the floor at the meeting, but, as ever, your Committee also welcomes written questions from members unable to attend on the day. These should be forwarded to the Admin Team by close-of-play on 10 June, please.

Items the Committee would particularly welcome feedback on include the following:- i) the investment position it has decided to adopt with regard to smaller players operating in the industry (who are, more often than not, brewers), as outlined in the Chairman’s recent March 2022 report at ‘Unquoted investments and portfolio risk’, and ii) the ‘CAMRA members only’ club membership requirement – members who attended the 2019 AGM may well recall that a suggestion that this requirement be done away with in its entirety was given short shrift. However, a member has now suggested a ‘relaxation’ along the lines that a Club member who has been a longstanding member of CAMRA – say for a minimum 10-year period – should be allowed to remain in CMIC if he/she chooses to exit CAMRA. The Committee is not recommending this be adopted but can see some merit in this proposal – particularly if the member has been in CMIC for some years also – but before exploring it any further would welcome members’ feedback on it.

Note 4) Hadfields have expressed their willingness to continue in office.

 

Nick Metcalfe, Company Secretary, 31 May 2022

Peter Darby – Career Notes

Dr Peter Darby retired as consultant to the British Hop Association in 2020, having set up and run the hop breeding programme at Wye Hops Ltd., Canterbury, Kent since 2007 following the closure of Wye College. He is a recognised international authority on hop research, breeding and pathology with over 100 publications on the subject, and he has been on the editorial boards of several respected international journals.

Following a degree from the University of East Anglia in 1977, he gained his PhD at the John Innes Institute in Norwich. He briefly taught at the University of Keele, Staffordshire before joining the Department of Hop Research at Wye College, Kent in 1981 becoming Head of Department in 1993 until its closure in 2007.

He has developed 13 new hop varieties in Britain including the world’s first dwarf variety, ‘First Gold’, and the world’s first hop with resistance to aphids, ‘Boadicea’. He has also been a consultant to hop breeding programmes across the World and still continues his consultancy in Alsace where he now has a further six new varieties registered. He has been a guest lecturer to several universities including Imperial College, Harper-Adams, Nottingham, and Cambridge.

He has gained many awards during his career, not least in 2016 as CAMRA Real Ale Hero No.14. In 1991 he became a Chevalier of the Order of the Hop, an ancient order of merit instituted in 1406 by John the Fearless, Duke of Burgundy. He was awarded the 1999 Rudolf Hermann’s Foundation Prize (Geisenheim, Germany) for an ‘outstanding contribution to European horticultural production’, and the 2003 Royal Agricultural Society of England Award for Technology. In 2006, he was awarded an honorary fellowship of the Institute of Brewing and Distilling, followed by a Lifetime Achievement Award in 2008. To mark his service to the hop industry his Order of the Hop was upgraded by the International Hop Growers Congress from Chevalier to Officer in 2017.

Notice of 2022 CMIC Annual General Meeting

The 2022 AGM & Luncheon is now scheduled to take place on Saturday, 18 June 2022 at the Victoria Hotel, Dovecote Lane, Beeston, Nottingham NG9 1JG – 11-30am for 12 noon.

This year the cost for buffet luncheon and one free pint will be £18.95, a modest increase on previous years, and our guest speaker will be Dr Peter Darby, a well-known and respected authority on the breeding and development of hops in the UK.

Please contact the admin team to book your place by email admin@cmic.uk.com or phone and forward payment by BACS quoting your NAME/CMIC No in the REF.

Nick Metcalfe, Company Secretary, 31 August 2021

AGM – 28 Aug 2021

DRAFT – FOR APPROVAL BY THE MEMBERS AT THE 2022 AGM

Minutes of the AGM held at The Victoria Hotel, Beeston on Saturday 28 August 2021, as approved by the Committee on the 9 October 2021 and subject to approval by the Members at the 2022 AGM

Present: 76 Club Members; the Committee (10 of 12, with appropriate apologies); Allens, the Club administrators; Hadfields, the Club’s independent examiner/reporting accountants; the Company Secretary.

1) Chairman’s welcome – The Chairman briefly summarised the position the Committee had found itself in over the pandemic, both in terms of investing members’ funds and administratively. Thankfully, the Club had held up – withdrawals had been low and membership numbers had actually risen slightly. The imminent ending of furlough arrangements would, however, represent a further challenge to stability, in our industry as well as elsewhere, and the consequences could not be known. Apologies that the enforced rescheduling of the AGM had resulted in there being no guest speaker this year; normal service would, hopefully, be resumed in 2022. With lunch now to be served at 13-00hrs, the Chairman suggested a slight revision to the agenda running order, thus…….

2) Members’ questions and observations – No written questions had been received prior to the meeting and there were none from the floor either. Neil Kellett asked the members to remember two club stalwarts, Clive Poge and Dave Smith, who had sadly passed since the last AGM, as well as others known to have been adversely affected by Covid.

3) Approval of minutes of 2020 AGM – These were approved and seconded from the floor. Also from the floor, the Chairman and wider Committee were thanked for their efforts in successfully navigating the Club through the Covid pandemic.

4) Election of Committee 2021 – 2022 – There being no new nominations, the re-election of the four retiring Committee members was proposed and seconded from the floor.

5) Approval of Accounts for ye 31 March 2021 – Proposed and seconded from the floor – no questions.

6) Appointment of Reporting Accountants for 2021-2022 – Proposed and seconded from the floor.

7) Proposed Rule change Resolution – One question from the floor regarding dormant bank accounts and the proposed change to Rule 3(vi). The Chairman explained that any write-off process was not automatic and that no stone would be left unturned in terms of contacting an apparently lapsed member before taking such action. The Resolution was overwhelmingly approved via a show of hands.

8) Any other business – The Chairman thanked the members for their forbearance during the pandemic, Allens, Hadfields and the Company Secretary for their efforts during the year and Linda, Hannah and James for managing today’s arrangements so well, and Castle Rock for its continued sponsorship of the lunch and meeting.

Nick Metcalfe, Company Secretary, 31 August 2021

CMIC AGM 2021

Annual General Meeting, held on Saturday, 28 August 2021 at 12noon

 

76 Members, the majority of the Committee, Allens’ Admin Team and Hadfields attended the AGM on Saturday, 28 August at The Victoria Hotel, Beeston.

All resolutions were passed, full minutes of the meeting will be uploaded after the October Committee meeting and please be advised that the date for the 2022 AGM is now set for Saturday, 18 June; same time, same place

Nick Metcalfe

Company Secretary

7th September 2021

AGM Agenda 2021

CAMRA Members’ Investment Club

Agenda

Annual General Meeting, to be held on Saturday, 28 August 2021 at 12noon
  1. Chairman’s welcome
  2. Approval of minutes of 2020 AGM
  3. Election of Committee 2021-2022 (note 1)
  4. Approval of Accounts for ye 31 March 2021
  5. Appointment of Reporting Accountants for 2021-2022 (note 2)
  6. Members’ questions and observations (note 3)
  7. Proposed rule change Resolution (note 4)
  8. Any other business

 

Nick Metcalfe

Company Secretary

30th July 2021

Notes to the Annual General Meeting Agenda – to be circulated with the Agenda

CAMRA Members’ Investment Club

Notes to the Annual General Meeting Agenda – to be circulated with the Agenda

Note 1) No nominations for election to the Committee had been received at the Admin Office by 15 May. Under Club rule 4, four existing Committee members are due to retire by rotation (Colin Bodimeade, Iain Loe, Sean Murphy and John Westlake), all of whom have expressed their willingness to continue in office.

Note 2) Hadfield’s have expressed their willingness to continue in office.

Note 3) Questions and observations were solicited from the members via a ‘Message from the Chairman’ posting to the Club’s website on 30 June 2021 and will also be welcome ‘from the floor’ at the AGM itself.

Note 4) As part of a general tidying up, as well as to validate certain actions which have been necessary during the Covid crisis, the Committee would like to amend the existing Club rules by inserting the red text and deleting the blue text, as below.

  1. Committee

The Club Committee is appointed by the membership of the Club to operate the Club on their behalf other than by way of business. The membership of the Club Committee is elected annually at the Club AGM. The Club Committee will meet when necessary, at least 6 times yearly, physically or using an electronic platform, and is responsible for investment decisions which have the approval of the membership. Suggested investments from individual Club members are welcomed by the Club Committee at any time and will be discussed at its next meeting. The Club Committee membership is limited to a maximum of 12, at least 4 of whom to be present for any meeting to be considered quorate. One third of the Committee will retire by rotation each year and be eligible for re-election at the AGM. Nominations for election as a Committee member at the AGM should be received by the 15 May preceding the AGM at the administrative offices of the Club. All members present at the AGM shall be eligible to vote.

  1. Annual General Meeting

The Annual General Meeting will take place within six months of the Club’s year-end and the Club membership will be notified in advance of the date and the venue. There will be one vote per member present irrespective of the size of that member’s investment. An AGM may be held physically or using an electronic platform, or a combination of both, and any accidental omission to inform any Club member of the meeting or the non-receipt of such notice by a member shall not invalidate the proceedings at the meeting.

  1. (vi) Membership

The Committee reserves the right to write off all unclaimed monies after a period of 6 years, including but not limited to deceased or untraceable members’ funds.

 

Nick Metcalfe

Company Secretary

30th July 2021

AGM 2020

CAMRA Members’ Investment Club

AGM 2020

 

Minutes of the AGM held virtually on Saturday, 13 June 2020, as approved by the Committee on Thursday, 18 June 2020 and subject to approval by the Members at the 2021 AGM.

Present : this meeting was held virtually via a series of telephone conversations and e-mails involving Committee members and the Company Secretary in the days leading up to 13 June.

1) Chairman’s welcome – the full text of the Chairman’s virtual welcome address will be posted to the website later this week and will also appear in the June edition of Club Matters.

2) Approval of minutes of 2019 AGM – these were duly approved (proposed by Iain Loe, seconded by John Westlake).

3) Election of Committee 2020-2021 – four members of the Committee were eligible for re-election (John Hattersley, Chris Excell, Dave Goodwin and Ian Brindley), and with no other nominations having been received all four were duly re-elected (proposed by Neil Kellett, seconded by John Westlake).

4) Approval of accounts for ye 31 March 2020 – it was noted that Hadfields had now finalised the accounts, which were duly approved (proposed by John Westlake, seconded by Neil Kellett).

5) Appointment of Reporting Accountants 2020-2021 – Hadfields, having expressed their willingness to continue in office for the coming year, were duly appointed (proposed by Iain Loe, seconded by John Westlake).

6) Members’ questions and observations – the Company Secretary reported that a small amount of correspondence had been received and that it was supportive of the Committee’s position. In particular, it seems there is appetite for a members’ ‘social’ later in the year, if possible.

7) Proposed rule change Resolution – the resolution to change Rule 3.(v) was approved (proposed by Neil Kellett, seconded (remotely) by Bob Martin).

8) Any other business – there being no further business, the meeting was closed.

Nick Metcalfe

Company Secretary

18 June 2020

CMIC – New AGM Date 2021

Due to the Government’s announcement yesterday regarding the delay in the easing of lockdown restrictions, the Committee, sadly, has no alternative but to postpone the 17th July AGM to its reserve date of 28th August 2021. This new date is, of course, itself subject to possible further change in accordance with any new Government guidelines that might appear – further information will be posted on the website, so please continue to look out for it.

If you have already added your name to the attendance list you will be contacted separately by our Admin team to confirm if you wish to attend the new date; for those who have paid and cannot attend a Refund will be arranged.

If you haven’t already booked your place and would now like to attend, please email admin@cmic.uk.com – the cost of the AGM Luncheon has been held at the 2019 price of £16.95 and also includes a free pint.

CMIC – AGM 2021

Dear Member

The Club AGM & Luncheon has now been confirmed as the 17th July 2021 commencing 11.30am at The Victoria Hotel, Beeston, Nottingham, NG9 1JG.

Please contact the Admin team on admin@cmic.uk.com or 0161 359 3976 to secure your place, all attendances will need to be pre booked and paid no later than 48 hours in advance and are subject to Committee discretion. We are hoping to accommodate the usual 100 places. The price will remain the same as last year at £16.95 and will include a pint and luncheon.

Please note: this will be subject to adherence with HMG guidance as advised, and that changes will be published on the website. The Committee has the right to withdraw the event and you will be notified as soon as possible.

Regards – CMIC Admin Team

Annual General Meeting – Committee Nominations

As members will already know from March’s Club Matters, CMIC’s 2021 AGM has now been called for Saturday, 17 July, Covid relaxations continuing to permit. This short note is simply a reminder to any member wishing to put his/her name forward for election to the Committee to please forward their nomination (by mail or by e-mail, and clearly marked ‘Committee application’) to the Admin Office at Stockport by 15 May 2021.

CAMRA MEMBERS’ INVESTMENT CLUB – AGM 2021

The club is hoping to it will be able to hold the usual AGM albeit later than usual with COVID regulations permitting, a proposed date will be released next month. Should such a gathering not be allowed the Committee will consider holding a Zoom AGM.

CAMRA MEMBERS’ INVESTMENT CLUB – AGM 2020

Minutes of the AGM held virtually on Saturday, 13 June 2020, as approved by the Committee on Thursday, 18 June 2020 and subject to approval by the Members at the 2021 AGM

Present: this meeting was held virtually via a series of telephone conversations and e-mails involving Committee members and the Company Secretary in the days leading up to 13 June.

1) Chairman’s welcome – the full text of the Chairman’s virtual welcome address will be posted to the website later this week and will also appear in the June edition of Club Matters.

2) Approval of minutes of 2019 AGM – these were duly approved (proposed by Iain Loe, seconded by John Westlake).

3) Election of Committee 2020-2021 – four members of the Committee were eligible for re-election (John Hattersley, Chris Excell, Dave Goodwin and Ian Brindley), and with no other nominations having been received all four were duly re-elected (proposed by Neil Kellett, seconded by John Westlake).

4) Approval of accounts for ye 31 March 2020 – it was noted that Hadfields had now finalised the accounts, which were duly approved (proposed by John Westlake, seconded by Neil Kellett).

5) Appointment of Reporting Accountants 2020-2021 – Hadfields, having expressed their willingness to continue in office for the coming year, were duly appointed (proposed by Iain Loe, seconded by John Westlake).

6) Members’ questions and observations – the Company Secretary reported that a small amount of correspondence had been received and that it was supportive of the Committee’s position. In particular, it seems there is appetite for a members’ ‘social’ later in the year, if possible.

7) Proposed rule change Resolution – the resolution to change Rule 3.v) was approved (proposed by Neil Kellett, seconded (remotely) by Bob Martin.

8) Any other business – there being no further business, the meeting was closed. 

Nick Metcalfe l Company Secretary l 18 June 2020

CMIC AGM – Chairman’s virtual welcome address

I welcome members to this virtual Annual General Meeting and acknowledge the challenges you are all facing at this time. I hope that all are managing through this difficult period and recognise that many might be focused on matters other than investment ones.

I refer to my recently published report and would like to thank the Club’s service providers for the way they have navigated the challenges of recent months. Their resilience and flexibility has been both robust and admirable. In particular I thank Allens and Hadfields for producing and finalising the accounts and my fellow Committee members for their ongoing diligence and hard work.  I find it reassuring that contribution levels remain robust and that withdrawal requests have, so far, been relatively small, but I have concerns that the significant fall in predicted dividend income will act as a considerable operational constraint for the foreseeable future.

Looking forward, I think it unlikely that the speed at which the economy entered the crisis will be mirrored by the rate of recovery. Concerns over the possibility of a second wave of the pandemic, coupled with the uncertainty over the nature of the virus and its behaviour, will curtail the removal of lockdown restrictions and so it is imprudent, I believe, to expect a return to pre-Covid conditions any time soon.

However, with the prospect of some pubs looking to open as soon as early July, a sense of perspective is precious. As individuals, it is tempting to make predictions about complex and inherently uncertain matters, but it is presumptuous to do so. We tend to be better observing rather than concluding prematurely. It is also dangerous to focus too much on one event, however terrible, but that is what we tend to do. If we are not extremely careful we come to believe that the unusual is usual and that this is what the world looks like. In my update notes I suspect that I might be guilty of doing just that.

I would like to leave you with a couple of observations. Firstly, most sellers need to time the market twice: once on the way out and again on the way back in. To get that right once is difficult. Twice requires serendipity. The old adage about ‘time in the market’ rather than ‘timing the market’ remains as true as ever. However horrifying the cost of Covid-19 turns out to be, things will get better even if we don’t know when. It might be brutal to say this now in June, but to ask how our children and grandchildren will pay for it is not a question for now. Rather, we should continue to evolve and look forward to what the Swedish health guru Hans Rosling identified as ‘the secret, silent miracle of human progress’.

John Hattersley l Club Chairman l 18 June 2020

CMIC – 2020 AGM MESSAGE FROM THE CHAIRMAN

The Committee announced earlier this month that the planned AGM to be held at the Victoria in Beeston on June 13 would be adjourned. However, in light of present Government advice regarding public gatherings and travel restrictions, and it being unlikely that these will be revised sufficiently to enable the Club to hold a traditional meeting in the foreseeable future, it has been decided to hold a virtual AGM so that the day-to-day business of the Club can continue uninterrupted. This unprecedented decision has been made easier by the absence of any new nominations to the Committee. So, although Government advice and guidelines will continue to be monitored closely, the attached agenda will be voted upon by the Committee ‘virtually’ and the outcome posted on the website.

Members who wish to raise questions regarding the agenda, or who wish to comment generally, are asked to contact the Admin Office by email by no later than close of business on Thursday 11 June (citing ‘AGM question’ in the heading). Any questions submitted, and the answers given, will be posted on the website as soon as possible after the AGM. The Committee reserves the right to bundle together any like-minded questions when answering them, and also undertakes not to include the names of questioners unless specifically authorised to do so.

The Committee recognises that this is not ideal, so if circumstances subsequently allow and there is sufficient appetite amongst Members to do so, we would consider holding a lunch similar to that associated with a traditional AGM later this year, with or without a guest speaker and with no official business to transact on the day.

John Hattersley

AGENDA Annual General Meeting, to be held virtually on Saturday, 13 June 2020

1) Chairman’s welcome

2) Approval of minutes of 2019 AGM

3) Election of Committee 2020-2021 (note 1)

4) Approval of Accounts for ye 31 March 2020 (note 2)

5) Appointment of external auditor for 2020-2021 (note 3)

6) Members’ questions and observations (note 4)

7) Proposed rule change Resolution – deceased members (note 5)

8) Any other business

Nick Metcalfe | Company Secretary

Notes to the Annual General Meeting Agenda, to be circulated with the Agenda

Note 1) No nominations for election to the Committee had been received at the Admin Office by 15 May. Under Club rule 4), four existing Committee members are due to retire by rotation (John Hattersley; Chris Excell; Dave Goodwin and Ian Brindley), all of whom have expressed their willingness to continue in office.

Note 2) When the accounts to 31 March 2020 were circulated to the members with the year end material, they were still in DRAFT form. Hadfields, the Club’s external auditor, have now been able to review the figures and, accordingly, these figures are now FINAL.

Note 3) Hadfields have expressed their willingness to continue in office.

Note 4) Questions and observations were solicited from the members via a ‘Message from the Chairman’ posting to the Club’s website on [28 May 2020].

Note 5) Membership of CAMRA has always been a pre-requisite of CMIC membership – you cannot join CMIC unless you’re in CAMRA first, and if you leave CAMRA you have to exit CMIC at the same time. There are no plans to move away from this fundamental principle. However, and following feedback received from the membership, the Committee recognises that in one particular situation – the death of a CMIC member – this rule is somewhat inflexible and not always helpful to those trying to settle a deceased’s estate, often a close family member with other things on their mind……

The position at the moment is that the repayment of a deceased member’s units is based on their value at the end of the month in which the death is reported to the Admin Team, and the monies due at that point are set aside pending probate, at which point they are paid out. We would now like to introduce a further element of flexibility into this process by giving executors the option of a 12-month ‘standstill’ arrangement so that they can have more time to decide what to do with the units, eg market conditions might be considered about to improve; an entitled beneficiary might decide to join CMIC themselves and take over the holding etc.

So, the Resolution for the meeting to consider and vote on is the Committee’s wish to put the above into effect by amending the present Club rule 3.v) Deceased Members such that, henceforth, it would read as follows:-

In the event of the death of a member the default position is that repayment of units will be based on the current value at the end of the month in which the death is notified to the Club. The amount due, together with late contributions, will be placed in a separate account pending the finalisation of the claim by the estate of the deceased member. Alternatively, and upon request by the estate when the death is notified, the units can remain invested in the Club for a period not exceeding 12-months from the end of the month of notification.

The relevant FAQ surrounding this point would also be amended/expanded to further explain the position, including a ‘hold harmless’ statement on any tax consequences.

Nick Metcalfe | Company Secretary | 28 May 2020

CAMRA MEMBERS’ INVESTMENT CLUB – AGM 2019

Farmaci Generici E Di Marca. Campioni Gratuiti Viagra Cialis. Assistenza Clienti 24 Ore Su 24, 7 Giorni Su 7. Vuole Entrare Gratuitamente In Un Rivenditore Di Droga On-line click Apertamente! E Ottieni Il Trasporto Gratuito. Vasta Opzione Di Farmaci Da Prescrizione Generici.
Minutes of the Annual General Meeting held at the Victoria, Beeston on Saturday 15th June 2019 proposed by the Company Secretary and approved by the Committee on 3rd August 2019 subject to approval at the 2020 AGM

Present:          Chairman John Hattersley, committee members Chris Holmes, John Westlake, Neil Kellett, Chris Excell, Bob Crumpton, Iain Loe, Ian Brindley, Sean Murphy, Ann Mace, Mark Howarth (Company Secretary) and approximately 100 members of the Club.

Apologies:       Colin Bodimeade, Dave Goodwin, Ken & Jan Holt, Colin Valentine

Welcome by the Chair

The Chairman welcomed all members to this year’s AGM.

Chairman’s Report

The Chairman thanked Howarth Associates for their administration of the Club and for the handover to Allens, James Sharp stockbrokers for their work during the year and Hadfields for acting as external accountants for the Club.

He then reported on the continued decline in membership numbers, a net loss of 90 in the year to 31 March, but monthly cash flow remained positive. He discussed the continued effort to recruit new members and the relationship with CAMRA, discussions with the NE and improving channels of communication. Coverage in What’s Brewing remained limited despite the Club’s attempts to improve it.

He then reported on the meeting with the Board of Fuller’s in London after the announcement of the sale of the brewing business to Asahi prior to the EGM and that members of the Committee had attended the EGM and that the Club voted against the resolutions.

The Chairman said a few words regarding the recent passing of former Campaign Chair and Committee member Jim Scanlon.

The Chairman then took a few minutes to introduce the new administration team from Allens in Stockport.

The Chairman floated the idea that the Club might wish to explore the possibility of removing the requirement to be a CAMRA member in order to join CMIC. After discussion the suggestion that the idea be investigated was put to the meeting and the show of hands was slightly in favour. This would be discussed further at future Committee meetings.

The state of the markets and the Committee’s attitude to risk was then discussed, in particular the subject of crowdfunding. The Chairman detailed two small investments which had been made in Loch Lomond and Nethergate and the fact that the Committee was also looking at future possible investment opportunities.

The Chairman then opened the meeting to questions from the floor. First to raise a point was John Cryne who discussed the Committee’s attitude to the Asahi takeover of Fuller’s. Iain Dobson then raised the possibility of taking out a paid advert in What’s Brewing to try to assist with recruitment.

Brewery Visits

The schedule of future visits was detailed along with the proposed trips to Butcombe which had been cancelled at short notice by the brewery and to Belhaven which would probably take place in November.

The Chairman then asked members for any other ideas for brewery visits for the 2020 programme.

Approval of the Minutes of the 2018 Annual General Meeting

These were approved.

Approval of the accounts year ended 31 March 2019

The Chairman asked for the approval of the accounts. It was proposed and then seconded that the accounts be approved by the meeting.

Election of Committee

Four members of the Committee (Bob Crumpton , Chris Holmes, Neil Kellett, Ann Mace ) were eligible for re-election. All four expressed their wish to stand again and, as there were no other nominations, they were duly re-elected.Appointment of external accountants

It was proposed, seconded and approved that Hadfields be re-appointed as external accountants to the Club.

Any Other Business

There was no other business.

The Chair then thanked Castle Rock for their sponsorship, all members for their attendance and hoped to see everyone same time next year.

The meeting was formally closed at 12:05.

 

31 Dec 2019

Due to the current situation with the Coronavirus, we will be postponing this year’s AGM to a later date.

For those who have already paid we are happy to hold your payment until this time, you do not need to let us know. However, should you prefer to receive a refund please contact the admin team.

We are pleased to confirm that we will be holding our AGM on Saturday 13th June 2020 at The Victoria, Beeston, Nottingham.

Please inform the admin team if you wish to attend, the cost of the luncheon will be the same as last year £16.95 please make payment by bank transfer or you can post a cheque to the office. Please ensure you quote your name/CMIC number.