Yorkshire Post Letters: Black Sheep Brewery shareholder of 30 years says investors 'will get little or no money back' after takeover

I note with sadness that Farmison, a local meat processing company, and the Black Sheep Brewery have both recently gone into administration.

Both were long established companies which until recently traded well. I don't know the full history of Farmison, but I have been an investor in Black Sheep from when the company was formed in 1992.

I have attended every annual general meeting since its inception and was aware from the last few years that loans have been taken out to keep the company afloat, but there have not been any warnings from either the directors or the well-paid auditors.

There has hardly been any communication between the Brewery Board and shareholders during the period of potential sale and administration.

My own view is that there should have been an EGM called before administration to enable the shareholders to have their say.

At the time of the last published lists at the AGM there were 1,234 shareholders, 56 of which including myself held 5,001 or more shares.

We have been informed by the administrators that we will get little or no money back for our shares. My shares have been built up over the last 30 years. Most of the shareholders are hard working loyal people including company employees, farmers, licensees and local tradesmen.

The only good news is that both companies have been bought out of administration either saving or creating former employees’ jobs.

I can't speak for the former company, but as far as our company is concerned I think it has been sold on the cheap, and imagine the new owners will make a killing selling it to one of the global brewers, or a British giant brewer in the next few years.

I feel we have well and truly been sold down the river. I would like to know what the founder thinks about the matter.

In conclusion I note that the new owners Breal Capital have formed a new private company called the Black Sheep Brewing Company Ltd to run the brewery. A search at Companies House show the latter’s directors in identical roles at the new company.