Attendees: Dave Johnston, Alan Martin, Robin Rynhart, Andrew Watkins, Wez Davey, Richard Albon, Stephen Andrew, Kevin Forrest, Franz Fuchs, Don Parker
Apologies: Geoff Floyd, Les Watson, Andy Davies, Phil Ainsley, Cyril Bouhallier, Jochen Gruenleitner.
Agenda
The minutes of the previous meeting were reviewed and agreed to be fair and accurate.
No information was received from Geoff before the meeting on a report so the current holdings were reviewed as described from the RIC web site.
A pressing need was seen to re-invest the money obtained from the sale of some shares in Pace and European Telecom. (1036.73 pounds)
This has been bolstered by funds from the new club members.
10.1(GF) To report on holdings status and club member status at next meeting.
Here is the report I Emailed to all members of the club before the meeting. Did nobody read it or did it get lost somewhere?
During January we sold half our Pace and European Telecom shares. We also received a dividend of £4.10 from European Telecom.
Sold 71 PACE MICRO TECH £511.63
Sold 205 EURO TELECOM £525.10
The total value of the club is £4129.23 with £1673.52 held in cash at our broker and bank accounts. 2450 units have been issued worth 165p each.
All the founding members have 245 units plus surplus cash of 4p which will be used to purchase units next month.
The table below shows the value of the club at the end of January.
|
Name of Company |
No shares |
Total Cost |
Selling price |
Net selling value |
Profit or loss to date |
Change during month |
|
Chloride |
629 |
502.56 |
696.62 |
679.23 |
176.67 |
68.65 |
|
European Telecom |
205 |
258.85 |
781.05 |
758.54 |
499.69 |
333.13 |
|
Pace Micro |
72 |
260.81 |
562.68 |
539.86 |
279.05 |
201.96 |
|
365 Corp |
242 |
515.44 |
491.26 |
478.08 |
-37.36 |
-22.94 |
|
1022.22 |
918.05 |
580.80 |
I have received membership application forms from Steve Andrew, Phil Ainsley, Kevin Forest and Cyril Bouhallier. I have received initial contributions of £80 from Phil and Cyril, which will be used to purchase units in February. No money so far from Kevin or Steve.
Stephen and Robin reported on Penny shares. A selection of shares was selected below 1 pound for scrutiny. There was nothing, which stood out for consideration although it is very difficult to obtain much information on these companies to make a judgement.
Richard had commented that his 86 year old aunt from Birmingham who invests in a number of penny shares had recommended Tuska Oil and Winchester. Tuska are a small company engaged in oil exploration. It is expected that if a discovery is made then their share price could rocket from 2 pence. With so much money in the coffers it seems a possible candidate for a speculative investment with little downside.
Winchester are a entertainment company with a share value that has continued to rise over 12 months.
10.2(RR SA) Comment further on these and any others
Andrew mentioned a news report on stockmarket trends, which suggested the market is being split in two by the continuing success of Hi Tech stocks. Ordinary stocks like retail and banks are being depressed because fund managers are moving money away from them into IT companies.
With Blue Chip stocks like Unilever Banks and Utilities being so cheap now it appears very tempting to invest in them Andrew also presented a small Freight Company (Night Freight) as one to watch, although again there appears insufficient information to make a judgement.
Kevin raised the subject of new issues and stock floatations where investments can reap spectacular returns in a short time. Information on this is limited and is generally restricted to the large institutions. The following web sites were mentioned for sources of information:
issues_direct.com epo.com and nothing_ventured.com
The general feeling was that the club needs to consider a subscription to a organisation that provides the sort of analysis that assists us in our decision making for future investments. It appears that it is very difficult to gain the right information and further assistance would be worth consideration.
10.3 (RA GF) Investigate sources of investment advice.
In conclusion a number of companies were proposed for consideration to place our next investment. These and others are proposed to be raised at the next weekly meeting (next Tuesday):
Congratulations to Geoff for winning the competition this week with Cable and Wireless.
7.1 (GF) To check Proshare manual for more information on selling discount
9.3 (ALL) Review sectors
10.1(GF) To report on holdings status and club member status at next meeting.
10.2(RR SA) Comment further on Tuska and Winchester and any other
10.3 (RA GF) Investigate sources of investment advice.
Next monthly meeting 14 March