
Brewdog cancels Aberdeen AGM: who is in charge?
Following news of a joint venture with ABI owned Budweiser in China (the biggest of Big Beer arguably) James Watt has announced that Brewdog’s AGM in Aberdeen has been cancelled.
The annual event designed for Equity For Punks (EFP) shareholders is primarily a chance to drink Brewdog beers and listen to music but also has the function of annual gathering of the Brewdog faithful. In that sense I’m sure its enjoyable.
Watt has stated that the AGM is expensive to put on and as an event requires expertise and resource that Brewdog has to hire in. In other words its not core business.
Brewdog is not a publicly quoted company and Watt has said this week that an Initial Public Offering (IPO) which would be the first step in that won’t happen until the end of 2023 now. No public company can simply scrap its AGM, but Brewdog can. A reminder, of something the Financial Times occasionally notes, that if you really want to own shares then the Stock Exchange and its listings is the place.
EFP shareholders aside from the AGM also get a discount at Brewdog bars and Watt has said that this year the AGM will in effect be held at every Brewdog bar. It’s not clear precisely what that means but the drift seems to be that as with many others bars currently they could do with the custom.
The focus on cost is what one might expect from a company in times like these. It also suggests that TSG the private equity investor that has a 23% stake in Brewdog is increasingly calling the orders here.










