Deli Shareholder meeting moved to March
A few weeks ago, we suggested a shareholder meeting for late February. We thought we'd need finance for a plan we were discussing with our landlord to acquire the freehold to the shop.
That's all been overtaken by events:
• If we need more finance, we'll probably need a new Constitution
• So we'll need the 2020 accounts
• Our accountants simply haven't had time yet to produce a final version of the 2020 accounts
• But the first draft shows a serious profit for 2020 and no debt
• Except for our Bounceback, which 2-3 years' profit would pay off if we didn't want to keep this cheap (2.5%) working capital
So we'll now have a meeting around Easter. By then we'll:
- Have definitive accounts for 2020 and a number of alternative projections for 2021
- Know more about what we can agree with our landlord, what kind of financing we might need and how we might raise it
- Will have explored alternative dates so we can come back in the next week or so with a definite meeting date.
Meanwhile, we're really sorry we can only let you in one at a time.
And thanks for spending so much more than last year that acquiring the shop may well be a realistic proposition
Michael Flanagan · Fri 26 Feb 2021, 09:09 · Link