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Committee Meeting

29 January 2022

This meeting was held at Castle Rock Brewery, Nottingham on Saturday 29 January 2022. Apologies were received from Ann Mace, Bob Crumpton, and Dave Goodwin. Also present were Paul Horrocks and Mike Sangster (Allens), and Nick Metcalfe (Co. Sec.).

Minutes of the previous Zoom meeting were approved with only minor comment.

In respect of BME, Nick Metcalfe reported on the various share acquisition opportunities which had arisen since the previous Committee meeting, three of which had been successfully pursued (Wadworth and Hydes [x2]). These actions were noted and approved.

Several admin matters were discussed, particularly the continuing decline in year-to-date membership numbers. Various ideas were considered to arrest this – one was an agreement to place a paid advertisement in CAMRA’s summer ‘Beer’ publication (in addition to which an attempt would be made to recruit further branch ambassadors and to script/place further articles for consideration for CAMRA’s What’s Brewing platform).

Some member feedback successfully dealt with; also, speaker for 2022 AGM noted as having confirmed his acceptance.

Holts and Shepherd Neame brewery trips both confirmed as ‘in the book’ for February and March, respectively (Black Sheep now to be firmed up for June/July, if possible), and members have also expressed interest in trips to Fullers (Asahi) and Adnams. ‘Finland/Estonia 2022’ still there on the back-burner, but ongoing Covid restrictions presently indicating September 2022 at the earliest.

Reports on investee activity, including formal notice of West Berkshire administration, received. Carrying value of Black Eagle reviewed.

Report-backs on Committee attendance at recent Mitchells & Butlers and Marston’s AGMs.

Recent BBC Scotland documentary on BrewDog was discussed. The Executor of a deceased CMIC member had offered a portfolio to Club on terms to be agreed, including some BrewDog shares. Agreement to pursue the offer, but without BrewDog. Recent receipt of finance-raising prospectus from Oakman Inns also noted and discussed.

Further lengthy discussion on micro-brewery investment policy – some differences of opinion, but a consensus that small investments would continue to be made for the right candidates. Existing investment in micros/illiquids should also henceforth be highlighted on shareholding portfolio exhibited to members quarterly.

Allens drew attention to the significant accruing liability arising from deceased members’ estates. Agreement reached that new investment should be restricted to just three existing investees.