Attendees: Franz Fuchs, Andrew Watkins, Dave Johnston, Don Parker, Geoff Floyd, Andy Davies, Robin Rynhart, Wez Davey, Alan Worroll, Les Watson,
Apologies: Allan Proudfoot, Chris Bailey, Rick Haggitt, Martin Collinge, Stephen Andrew, Cyril Bouhallier, Richard Albon, Phil Ainsley, Kevin Forrest, Alan Martin
Agenda
The minutes were reviewed and accepted as a fair representation of the meeting. Proposed Don, Seconded Robin.
13.1 (Les) To gather more information about Tepnel Biosystems to present as a contender for investment - ONGOING
14.1 - COMPLETED
15.1: AD/LW/GF to purchase £500 worth of Fleming European Fledgling - COMPLETED
15.2: AD/GF/LW to purchase £500 worth of Volex shares - COMPLETE
15.3: AD to ask about the price of buying this year’s "Company Ref’s". - To be reviewed during the meeting
15.4: AD to initiate talks of automatic downloading of financial data from the web into spreadsheet format for comparison.
- COMPLETE
Fleming European Fledgling IT - 108 shares total cost of £498.26
Volex - 32 shares, total cost £497.62
|
Name of Company |
No shares |
Average price |
Total Cost |
Selling price |
Net selling value |
Profit or loss to date |
Change during month |
|
Barclays |
31 |
1676.13 |
519.60 |
1510.00 |
456.10 |
-63.50 |
3.41 |
|
Bond Int' Software |
344 |
76.60 |
263.51 |
67.00 |
218.48 |
-45.03 |
13.76 |
|
Chloride |
629 |
79.90 |
502.56 |
186.00 |
1157.94 |
655.38 |
50.32 |
|
European Telecom |
234 |
158.93 |
371.90 |
475.00 |
1099.50 |
727.60 |
-81.90 |
|
Fleming Euro IT |
108 |
461.35 |
498.26 |
425.00 |
447.00 |
-51.26 |
-51.26 |
|
ICI |
90 |
571.37 |
514.23 |
472.50 |
413.25 |
-100.98 |
-22.05 |
|
Marks & Spencer |
206 |
249.79 |
514.57 |
218.00 |
437.08 |
-77.49 |
-45.32 |
|
Pace Micro |
72 |
362.24 |
260.81 |
865.00 |
610.80 |
349.99 |
-72.00 |
|
Prudential |
53 |
979.40 |
519.08 |
907.00 |
468.71 |
-50.37 |
-36.04 |
|
Tesco |
221 |
225.52 |
498.41 |
219.75 |
473.65 |
-24.76 |
23.76 |
|
365 Corp |
242 |
212.99 |
515.44 |
64.00 |
142.88 |
-372.56 |
-14.52 |
|
VI Group |
658 |
40.01 |
263.29 |
31.00 |
191.98 |
-71.31 |
-13.16 |
|
Vodafone Airtouch |
340 |
294.65 |
1001.82 |
286.25 |
961.25 |
-40.57 |
-26.35 |
|
Volex |
32 |
1555.06 |
497.62 |
1750.00 |
548.00 |
50.38 |
50.38 |
|
6943.94 |
6741.10 |
7626.62 |
885.52 |
-220.97 |
Slight drop in unit price to 170.
Each "share buddy" at the meeting gave a brief update about their share…
|
Buddy |
Notes |
Recommendation |
|
|
CHLD |
Geoff Floyd |
PEG at 1.28, P/E 35 verses 44 for sector |
HOLD |
|
ETE |
Stephen Andrew |
Fallen during last month but still No.1 in its sector, PEG 0.4, P/E 38 (Steve away) |
HOLD |
|
PIC |
Andrew Watkins |
Trouble supplying Telewest as they are unable to source flash memory. EPS growth @ 16% |
HOLD or Buy more. |
|
TSF |
Wez Davey |
Currently 31% down on original price, P/E -11 verses comparative sector of 55 |
HOLD |
|
BDI |
Robin Rynhart |
Recovered close to purchase price |
HOLD |
|
VOD |
Alan Martin |
Alan away |
HOLD |
|
VIG |
Don Parker |
HOLD |
|
|
PRU |
Andy Davies |
HOLD |
|
|
MKS |
Les Watson |
Recent announcements from chairman indicate that it could take 3 years to bring the company back to a recovered position. In a downward trend. |
Sell & monitor. |
|
BARC |
Richard Albon |
Levelled out, No 1 in sector |
HOLD |
|
TSCO |
Alan Worroll |
Now at highest point for over a year |
HOLD |
VLX and FEF were proposed as other investments by Dave and Franz.
Les proposed that we sell the Marks & Spencer shares which was carried by all except Andrew who felt we should wait.
As Don had to leave the meeting early then we had less than 10 members available for the vote so Andy agreed to e-mail the club membership to seek votes from those members not attending.
Action 16.1: AD, to send e-mail to club members not in attendance asking them to vote on the sale of MKS.
It was decided to try and get hold of a demo copy of the company ref's CD.
Action 16.2: AD to obtain a copy of the company ref's demo.
The club then began a discussion as to the merits of buying shares in larger values and £2000 was suggested as an appropriate amount. A proposal was made by the chair that future trades should have a minimum investment of £1000, which was carried by everyone at the meeting except Robin who abstained.
A proposal was also made to reduce the number of shares currently held from 14 to 10. After some discussion it was agreed that we would work towards reducing the number of different shares held to 10 to 12 over the coming 3 months.
