Attendees: Geoff Floyd, Alan Martin, Dave Johnston, Andrew Watkins, Wez Davey, Robin Rynhart, Les Watson
Apologies: Richard Albon, Andy Davies, Don Parker
The minutes were reviewed and agreed to represent the meeting.
The treasurer presented a copy of the accounts. The question was raised as to whether we the club would like to post the summary accounts on to the group web page. After a brief discussion of the pro’s and con’s the group agreed to financial information being posted to the group web page but not member’s personal details.
5.1 (GF) To post the club financial information onto the web.
Geoff reviewed the progress of the "Window’s" team, who had reviewed over 100 shares key metrics and whittled these down to a key four for the club to assess. These four were Roxboro, Linx, Chloride and Oxford Instruments. The club was presented with a summary of each company and a share price chart.
5.2 (GF) To post the summary and share chart to the club web page.
Andrew gave a summary for the "Non-windows" team, which indicated that both Druid and the Sanderson group needed further consideration. The "non-windows" team agreed that further research was needed before they felt comfortable with making any recommendations for share acquisition in there area.
The club discussed the options put forward by the "windows" team and agreed to purchace £500 of Chloride. The vote to acquire was unanimous.
5.3 (GF) To action the purchase of £500 of shares in Chloride.
The treasurer also recommended that additional funds be transferred from the bank account to the stockbroker account so that the club could move quicker on the purchase of share’s in future. The club agreed to the transfer of £600 from the current account to the Stock Broker account.
5.4 (GF) To perform the transfer of £600 from the current account to the Stock Broker account.
The club discussed some simple guidelines of sale of the shares as advice for the treasurer and secretary. It was agreed that any shares purchased would be monitored and that a drop of 20% on a shares’ price from its maximum value since purchase would trigger a sale under the condition that the rest of the market remained buoyant.
5.5 ("non-windows") To prepare recommendations for share purchase in a similar way to that prepared by the "Windows" team.
3.1 (GF) To contact the tax office and take necessary steps to register the club.
3.4 (All) Email round useful web sites and information. ……………………………... ONGOING
2.4 (All): Review the areas identified and make recommendations of companies to watch. CLOSED
Next Meeting : 12 October 1999