This meeting was held at the Victoria, Beeston on Saturday 11 June 2022. Apologies were received from Ann Mace, Chris Excell, Chris Holmes, and Sean Murphy. Also present were Paul Horrocks (Allens) and Nick Metcalfe (Co. Sec.)
Minutes of the previous meeting were approved in full.
Various auctions had been notified ‘between meetings’ and 1,150 McMullen Pref Ords had been acquired. Excluding the Brewdog holding, acquisition of shares held in a deceased member’s estate was now proceeding apace, albeit the holding in Twickenham Fine Ales was subject to pre-emption rights, and we would have to ‘wait and see’.
On administration matters, the recent What’s Brewing/Beer ad, in conjunction with a published article written by a Committee member, had seen 10 new members sign up so far, albeit countered by further leavers; withdrawals had exceeded contributions during May, a rare event that has only occurred once in the recent past.
All set for next week’s AGM in terms of attendee numbers, general arrangements etc.
Brewery trips – 2022 program going well and a farewell trip to Cantillon would also now be arranged (limited numbers, unfortunately).
A Committee member was congratulated on having recently been appointed to CAMRA’s National Finance Committee.
With significant fund withdrawals continuing (deceased estates; members exiting CAMRA; routine cash requirements in these inflationary times etc) a suggestion to increase the 0.5% ‘spread’ to 1% was accepted.
Investee AGMs and other known corporate activity noted and discussed.
Generally, and in advance of the AGM specifically, the Committee’s overall stance towards occasional investment in smaller, illiquid players was debated at some length and confirmed.
With the ‘buffer’ now set at £400K, and only a limited amount to invest anyway, a decision was taken to place £20K total into 4 existing investees, though, as per usual, CMIC will participate in the annual Joseph Holt bargain matching exercise.