RALLY ROUND THE TALLY!

 

Rally Round the Tally

 

We've agree a price !!

Hello subscriber,

This e-mail's going out to supporters of the Tally Ho Inn, Littlehempston.

After a bit more to-ing and fro-ing we've finally agreed a price with the current owner of the Tally Ho !  However, no sooner had we done that than his agent confirmed that the Tally Ho Barn is being offered for sale with two of the Tally Ho's car park spaces and a right of access to them.  He also confirmed that the LPG tank which supplied gas to the pub for cooking and heating had been removed recently and would need to be re-installed on a new site.  We're now engaged in working out how much those things reduce the value of the Tally Ho...

It’s a huge relief for the management committee to know that all the hard work over the last year is paying off and the exciting phase is starting. We’ve got the expertise on board to manage a successful pub in the form of Andrew Mogford (who reinvigorated the Sea Trout, Staverton and The Maltsters, Tuckenhay) and Ali Batten, who’s run her own pubs and has worked behind the bar at the Tally Ho.  But there are lots of detailed decisions to be made about the look and feel of a re-opened Tally, and if you want to be involved in those, you’ll need to be a member (shareholder) of Littlehempston Community Pub Limited (LCPL).

We have got the money to back this offer, but it does mean taking out substantial loans.  We're very concerned about the cost of servicing those loans, and the effect that cost will have on the viability of the Tally Ho as a business, and the returns that we can afford to pay to shareholders.  We've recently undertaken a detailed review of our finances with the help of one of our members with a great deal of experience in that field.  We'll continue to keep a close eye on the position before finally committing to the purchase.

To reduce the amount we need to borrow, we need to sell more shares !  So if you've been thinking of buying shares in Littlehempston Community Pub Limited but haven't quite got round to it yet, now would be a really good time !

If you think you might like to buy one or more £250 shares, have a look at the Invest page on our website www.tallyhoinn.co.uk where you'll find links to more detailed information, and you can download our Share Prospectus and Business Plan, or use our online application form.  Don't forget that you should be able to get 30% of your investment back as a tax rebate as we qualify for the government's Enterprise Investment Scheme.  And if, for any reason, we don't buy the Tally Ho, you'll get all your money back.

Another good bit of news is that our friends at the Tally Ho in Hungerford Newtown, Berkshire held the grand re-opening of their community pub on 8th November.  Have a look at their Facebook page TheTallyHoHungerford.

Hopefully it won’t be too long now before we can meet up for a drink and a meal in South Devon’s first community pub !

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.