TOPIC:

I'm not opposed. I'd like the Bell (as in the company rather than the pub) to grow and save local pubs in the future. I think it might be worth discussion at the AGM?

We decided at the 14 June Board meeting that we'd ask for a prospectus with a view to The Bell buying some shares in The Packhorse. It's on our radar, but comments here (as requested by Steve Henwood) or at the AGM on 2 July (as suggested by Lance - aka Streamline 1989) will help our decision-making.

Excellent! Hopefully also many Bell members will buy in too - it was/ can be again the best country pub on the outskirts of Bath.Register an interest here:

southstoke.net/declaration-of-interest/

Chron Story:

www.bathchronicle.co.uk/500-000-needed-s...#WcsBJCF4ZbogIGBh.01

Share offer documents now available:


Dear Packhorse supporter

After launching our "Offer for shares" at a public meeting in a busy South Stoke Village Hall last night, please find attached a copy of the official document and share application form.

Having recently exchanged contracts with the current owner, we now have a very real opportunity to save this much-loved local institution! The immediate target is to raise £525,000 this summer in order to buy the building. So please read our offer document today then get in touch!

To find out more, including arrangements for electronic payment, simply reply to this email.

With thanks,
Save the Packhorse Committee
on behalf of The Pack Horse South Stoke Limited
www.southstoke.net

I still think The Bell should support this, but that is quite a complex ownership structure, is it not?

I've only skimmed the Packhorse's prospectus, but it doesn't look like the offer is for shares in the pub. Rather, shares are being offered in a co-op which itself will take a 25% share-holding in the pub. Thus control of the pub will remain with the 75% majority shareholder, 'Newco'.

I'm certainly less keen on this structure than the 100% co-op approach we have taken with the Bell.
I'm not sure whether I'll be supporting the Packhorse directly.