|
In 1983 it became know that the Haines Boatyard was likely to be sold and it was feared that it might be acquired by developers or others having no interest in the traditional services offered hitherto. More particularly the 126 moorings controlled by Haines and used primarily by the ISC Keelboat Fleets could possibly be diverted to assist the sale of glass fibre motorboats. Either situation would have had a serious impact on its members and indeed the local yachting community.
Resulting from the initiative of the then commodore and senior club members an Appeal was supported quite spontaneously by a range of members who pledged a total of £250k in amounts ranging from £10 to £20,000. This enabled the purchase of the boatyard.
Subsequently this was translated into a new Company with the original 140 subscribers becoming shareholders. Since its inception the new Haines business has been run by a Board of Directors drawn from ISC members representing the Club and the keelboat classes. The Directors apart from a salaried Manager/Director are entirely unremunerated.
Shareholding in the Company is restricted to ISC members and the club itself so long as there is a willingness from that restricted group to take up shares becoming available.
Initially subscriptions were offered more as an act of faith than in expectation of return as the boatyard was in a very dilapidated condition and hardly profitable. For the first five years no dividend was paid. Hitherto the business had been more a way of life for the former proprietors.
In the twenty plus years since that time great strides have been made. Good management, sound financial policies, the dedication of everyone involved and the patronage of ISC members as customers have turned the boatyard into a profitable concern. The range of services has been extended, plant and equipment has been improved, all the premises have been rebuilt and dividends are now being paid.
The Company remains independent of the Club but maintains close links with it and provides some discounted services. The initial subscription from ISC of £2000 has since been augmented by legacies and gifts to the extent that with 13,830 shares it is now the fourth largest shareholder. It has been said that the ISC would not exist without Haines and conversely Haines would not exist without ISC.
Visit www.hainesboatyard.com |
