Newsletter January 2015

Happy New Year!

May we be the last to wish you and your families a Happy New Year. Under normal circumstances there would be no need for us to contact you at this time of the year as business normally ticks over with our pub as we all settle into January, with the only real thing on the horizon being the need for the male contingent to remember to book a table and rose for the valentines evening!

However, we have some significant news about something that has emerged last week that we need to share with you and therefore in writing this newsletter we also thought we would take the opportunity to bring you up to date with the position of our membership.

At Christmas we reflected on how quickly four years had passed and that it did not seem two minutes since we were all lobbying the National Parks authority to overturn the planning application to save the building, to then doing all of the renovation and recruiting Kimberley and Allan and their family as the tenants of our new venture.

Kimberley and Allan have been at the heart of the growth and success of the re-born Foresters Arms and all of their hard work since our opening has given us a pub to enjoy and be proud of. For that we all thank them and we will always be indebted to them. If asked, Kimberley and Allan, would say that they have thoroughly enjoyed being a part of our community, however, due to personal reasons they feel that they have come to the end of the time they can devote to the pub and therefore they have given notice, in line with the lease agreement, that they will be leaving us later on this year.

There will be time, later on, for us to reflect and say thank you and goodbye, (what a party that will be!!), but for now the management committee, on your behalf, will be acting to secure replacement tenants to take over the reins. We will keep you informed of progress as we proceed over the coming weeks and months.

If any shareholder knows of someone, or preferably a couple, who might like to take up the opportunity of running a successful pub/restaurant then please bring this opportunity to their attention and let us know soon as things will start moving fast with our recruitment plans.

In terms of our membership, the number of people supporting us has never been stronger with 381 shareholders and thank you to those of you that returned your dividend cheques as donations back into our funds. As you know, other than the set rent, we do not take any other income from the pub as the pub business is the business of the tenants and therefore we continue to need the support of shareholders. Our financial rules state that we must have 50% of shareholders from the surrounding community and at present we have 58%.

We recognise that a number of shareholders were very generous in their initial investment, which was a great help when we started. As some people might decide, now that the pub is up and running and on an even keel, that they might want to dilute their shareholding. We would please ask for your continued support at some level as we continue to need both the value of the shareholding to be able to run and maintain the pub and its buildings and the percentage of local support to remain compliant with the legal rules upon which we were first formed.

Life is a journey and things change and evolve for good reasons and as a community we have reached the next point of change in the life of our pub and we are sure with the continued help and support of everyone we will continue to grow from strength to strength.

Regards

Coverdale Community Pub Ltd Management Committee