RALLY ROUND THE TALLY!

 

Rally Round the Tally

 

Latest news

Hello subscriber,

The money to buy and re-open the Tally Ho in Littlehempston is still coming in - the Pub-O-Meter (on the bottom of every page of www.tallyhoinn.co.uk) has reached £127,000. But the end of the moratorium when the Tally Ho can only be sold to a community group is approaching fast, as is the current closing date of our share offer. Both are due to end on 10th July.

However, the latest information is that Littlehempston Community Pub Limited's offer to buy the Tally Ho is the only one on the table, so current plans are to extend the share offer again and continue raising money until either we succeed in buying the Tally - or someone else comes along and buys it.

Meanwhile, several other bits of news have come in recently:

Architectural Heritage Fund Loan

The Architectural Heritage Fund (AHF) have agreed to lend Littlehempston Community Pub Limited (LCPL) up to £100,000 to help buy the Tally Ho. The Management Committee would rather not borrow money at all - raising all the money needed by selling shares seems much neater, simpler and fairer to everyone - but gaining the approval of the AHF should prove very useful in showing that our project is able to stand up to the detailed scrutiny of a professional organisation.

New Management Committee member

LCPL's management committee co-opted a new member at its last meeting. She's Sandra Law, and you can read a little about her on our Who we are page. Sandra is another Littlehempston resident and brings yet more energy and enthusiasm to the committee. Welcome Sandra!

Save up to buy your share

LCPL's management committee agreed at their last meeting to open a new scheme aimed at anyone who would like to invest in the Tally Ho but can't afford the £1,000 share price. If that's the position you're in, then now you can set up a standing order to pay LCPL a regular amount each month. The money will be a loan to LCPL until the total amount you've paid reaches £1,000 at which point the money can be used to purchase a share and you'll become a shareholder (member) of LCPL. The terms of the loan will match the terms of shareholdings as far as possible, i.e. interest payable on the loans will match interest paid on shares, and loans can only be repaid at the discretion of the management committee. The regular payments must be a multiple of £10. Shares purchased in this way are unlikely to qualify for the Enterprise Investment Scheme.

We'll add a page to www.tallyhoinn.co.uk about this new scheme soon, but in the mean time if this is something that you're interested in then just reply to this e-mail, or use our website's contact form and we'll get you set up!

Meetings coming up

There'll be two meetings on Tuesday 30th July in Littlehempston Church. The first will be a Special Members Meeting at 6.30 pm - that's a meeting for all of LCPL's Members (i.e. Shareholders). We'll send out a formal Notice of Meeting nearer the time. Then at 7.30 pm there'll be another Investors' Meeting like the one we had on 11th June. It'll be another chance for investors, potential investors and supporters of the campaign to buy, re-open and secure the future of the Tally Ho, to ask questions, make suggestions, meet each other and the LCPL management committee, and sample some of the food and drink that we hope to offer in the pub.

So Tuesday 30th July - put that date in your diary now!

Sales of shares have slowed down rather over the last couple of weeks and we think that's mainly because we haven't had any media coverage since 10th June. In particular, we didn't get any publicity for the decision to extend the share offer. So please keep spreading the word about the Tally Ho to your family and friends, and if you've got any media contacts in the South Hams that might help raise our profile, then please get in touch by replying to this e-mail, or using our website's contact form.

Finally, if you're planning to invest in LCPL but haven't quite got round to it - this would be a good time!

Cheers,

Littlehempston Community Pub Ltd.

PS - If you want to get in touch with us, just reply to this e-mail, use the contact form or phone Mike Thomas on 01803 865058. Do you know anybody else who would like to receive these newsletters? Tell them they can sign up online by clicking on Get Rally Round the Tally update e-mails in the Contact menu of www.tallyhoinn.co.uk.