<p>ZOOM MEETING 10am 24 JUNE</p>

<p>AGENDA/INFORMATION TO BE COVERED</p>

<ul>
	<li>Current cash position for each pub and bank debt, upcoming repayment dates. Current position/dialogue with bank (as appropriate).</li>
	<li>Immediate liquidity threats to any pub? Proposal for dealing with it.</li>
	<li>What is the current proposal on re-opening?
	<ul style="list-style-type:circle">
		<li>Which pubs?</li>
		<li>Which date?</li>
		<li>Business case for re-opening - break-even level of revenue on a cash basis assuming 1 mtr social distancing and confidence level?</li>
		<li>Key suppliers/sensitivities which could undermine ability to re-open?</li>
		<li>Position re furloughed staff?</li>
		<li>Sufficiency of cash balances /working capital to fund operations?</li>
	</ul>
	</li>
</ul>

<p>&nbsp;</p>

<ul>
	<li>Proposal for those pubs that cannot be re-opened in the short-term
	<ul style="list-style-type:circle">
		<li>Cash position and forecast essential payments while mothballed</li>
		<li>Current dialogue/position with bank as appropriate.</li>
		<li>Intentions regarding furloughed staff. Need to issue redundancy notices and if so when?</li>
		<li>Other steps necessary to protect shareholder value</li>
	</ul>
	</li>
	<li>Valuations for the Harcourt and Three Cranes (which are unlikely to re-open)</li>
	<li>Valuation for the Coach</li>
	<li>EIS &ndash; latest status with HMRC and intended follow up</li>
	<li>Other proposals/issues?</li>
</ul>