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Committee Meeting

6 February 2021

This meeting was held via Zoom on Saturday, 6 February 2021. Apologies were received from Chris Holmes. Also present were Martin Hilton (Allen’s) and Nick Metcalfe (Co. Sec.).

Minutes of the previous Zoom meeting were approved, subject to one minor amendment, and previous Action Points agreed as having been dealt with.

Should it proceed as hoped, the Chairman reported that a speaker had been (provisionally) secured for this year’s AGM.

On the Admin front, a new web host was now in place and load speed should improve as a consequence; net year-to-date membership increase now advised as an encouraging 21 (7.5% of joiners now female) and James Sharp had instructed all CMIC nominee held investees to send all their circulars etc direct to the Admin team at Stockport.

Some ‘between meeting’ share acquisitions, or auction bids, which had been agreed to by the Committee via email, – Hydes, Wadworth, McMullen, and Heavitree – were ratified.

Various pieces of member feedback had been received, including the identification of an Investment Trust considered suitable for investment by CMIC; Wetherspoons, What’s Brewing, and the possibility of a ‘Covid recovery fund’ for distressed pubs. All discussed at length and various actions agreed.

The suggested revisions to club rules were exhibited and agreed – tempting, perhaps, to refresh all the rules (>30 years old!), but a big job and agreed as something for another day.

Lengthy state-of-the-nation discussion about activity in the marketplace – obviously quite vibrant at the moment, eg Marston’s (unsolicited takeover attempt); Wetherspoons and M&B (both fundraising) etc.

With c£277K available to invest, it was agreed that £200K be invested, in differing tranches, into 8 existing investees.