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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, 09:09 · Link


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