Attendees: Alan Martin, Richard Albon, Andrew Watkins, Stephen Andrew, Dave Johnston, Wez Davey, Kevin Forrest, , Alan Worroll, Don Parker, Chris Bailey, Les Watson
Apologies: Rick Haggitt, Geoff Floyd, Martin Collinge, Allan Proudfoot, Cyril Bouhallier, Franz Fuchs, Andy Davies, Robin Rynhart, Phil Ainsley
Agenda
The minutes were reviewed and accepted as a fair representation of the meeting.
The treasurer was away on business and so was unable to comment however he had updated the monthly statement which is available on the club web page for review by members.
Each "share buddy" at the meeting gave a brief update about their share …
|
Share |
Notes |
Recommendation |
|
CHLD |
N/A |
N/A |
|
ETE |
Company are due to give a report in June more details available then |
HOLD |
|
PIC |
Sweeps up and down daily with large bid/offer spreads. Annual report due at the end of the month. Broker recommendation is a HOLD at 2.4 (1 -> 5) PEG @ 1.74 |
HOLD |
|
TSF |
6 months since IPO, fallen in value by 50%. Report due in Mid May. A number of press releases over the last Quarter including deals reported with BT, Granada and BBC (Choice digital channel). We have a small stake (originally £200). Three brokers recommend a hold. User growth by over 30% in last quarter |
HOLD |
|
BDI |
N/A |
|
|
VOD |
Indicated to be a strong buy after granting of 3G license although could be difficult times ahead due to quick sale of Orange |
BUY |
|
VIG |
Report due in June |
HOLD |
|
PRU |
New purchase |
HOLD |
|
MKS |
New communications director installed. Many of the company's problems perceived to be due to communications issues both internally and with there customers |
HOLD |
|
BARC |
New purchase |
HOLD |
|
TSCO |
New purchase |
HOLD |
Andrew proposed that the group should consider ICI as an "Obviously great investment" which has in recent times produced disappointing figures.
Recent problems seem to have stemmed from the chemicals part of the group making a loss partially due to a glut in the world-wide production of ammonia.
In 1996/97 the company turned to the production of speciality products and paints. In May 1998 the share price stood at 1250p which is to be compared with a price of around 530p today.
ICI is split into 5 divisions (which if I've captured the correctly - sec. are …), National starch, Crest, Industrial speciality products, Paints and Chemicals. Some key well known brand names are held within these groups including Dulux, Polyfilla, Liquid Nails. ICI are currently 9th in a sector of 24.
Brokers are currently marking the company up as a strong BUY.
Other suggestions for investments are Scottish and Newcastle Breweries, Boots and BSkyB. The secretary made the suggestion of Tepnel biosystems (TED) and took the only action from the meeting.
13.1 (Les) To gather more information about Tepnel Biosystems to present as a contender for investment.
The group then voted on whether to go ahead and purchase further shares and it was agreed to BUY £500 more of VOD (10 votes) and £500 of ICI (6 votes), 2 votes were cast for BskyB.
11.6 (Robin/Franz) To review purchase potential of Rentokill (at an all time low) - OUTSTANDING
12.3 - COMPLETED
13.1 (Les) To gather more information about Tepnel Biosystems to present as a contender for investment.
The secretary brought up a point about the current venue (i.e. meetings are being held within Mitel Semiconductor) which is OK while all the members of the club are employees of Mitel. However he was aware that one member of the club had tended his resignation at Mitel but the secretary understood that the particular member was still keen to continue to his membership of the RIC. It was agreed that the group would consider the situation over the formal meeting venue over the coming weeks and discuss the point at the impromptu Tuesday lunchtime meetings.