City Pub Company takes sixth site

By John Harrington M&C Report

- Last updated on GMT

Related tags Pub company Finance Investment

City Pub Company, the Enterprise Investment Scheme (EIS) funded operator, has secured its sixth site, in Oxford, as it launches a new fund-raising bid and appoints a part-time finance director.

The company has acquired the St Aldates Tavern in Oxford on a lease from the city’s Merton College. The pub is to re-open in September.

Company co-founder Clive Watson told M&C Report that his brother James is to join City Pub Company as a part-time finance director in August.

James was previously financial controller at Capital Pub Company, which was founded by Clive and business partner David Bruce, and sold to Greene King a year ago. He’s been working with Greene King to integrate Capital into its business.

City Pub Company has launched its latest EIS fund-raising bid and hopes to accumulate £3.8m by mid-October. Shares are being sold for £1.10 each, against £1 in the previous round of fund raising. The four directors — Clive and James Watson, Bruce and non-executive director John Roberts — are investing £600,000 between them.

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