Minutes of Roborough Investment Club Meeting #71
21st March 2005

Attendees:
                    Geoff Floyd, Franz Fuchs, Andy Davies, Allan Proudfoot, Alan Martin, Chris Bailey, Les Watson

Apologies:
                  

Absent:
                   

Agenda:

Review minutes of previous meeting
Review of actions
Treasurer's report
Review of current holdings
AOB
Agenda for next meeting

1. Review minutes of previous meeting

Previous meeting's minutes approved.

2. Review Actions

Geoff's action to transfer the ComDirect account over to him is ongoing.
ComDirect have requested that he write a letter confirming all the transfer
details.

Geoff's action to transfer ownership of the current account to himself is
still ongoing.

3. Treasurer's Report

Shares purchase/sales this month

None

Dividends Received

Kelda £20.43

Asset Summary

Name of Company No shares Average price Total Cost Selling price Net selling value Profit or loss to date Change during month %
Personal
525
190.95
1002.49
222.00
1153.00
150.51
26.25
2.3%
Pennon Group
150
678.17
1017.25
949.88
1412.32
395.07
-55.68
-3.9%
Scot Power
234
434.62
1017.00
409.75
946.32
-70.68
-77.22
-8.2%
Whitbread
109
825.41
899.70
899.50
967.96
68.26
-34.33
-3.5%
Brown (N) Group
800
124.06
992.50
134.00
1059.50
67.00
2.00
0.2%
Carnival Plc
30
3263.67
979.10
2989.00
884.20
-94.90
-103.50
-11.7%
Creative Education
9825
10.18
999.91
5.25
503.31
-496.60
12.77
2.5%
Eckoch Technology
2000
39.13
782.56
8.33
154.10
-628.46
6.60
4.3%
GKN
396
252.34
999.25
258.50
1011.16
11.91
35.64
3.5%
Hardys & Hansons
143
424.33
606.79
635.00
895.55
288.76
75.07
8.4%
HSBC
98
918.10
899.74
868.00
838.14
-61.60
-46.06
-5.5%
Kelda
245
396.83
972.24
603.00
1464.85
492.61
-75.95
-5.2%
Rank
385
259.73
999.97
278.75
1060.69
60.72
-22.14
-2.1%
 
12168.50
12351.10
182.60
-256.55
-2.1%

Unit price reduced from 115 to 114p.

4. Review of current holdings

The following is a brief summary of what was said.

Kelda: Above stop loss; hold.

Carnival: Good results reported however the share price dropped on the announcement

Hardys & Hanson: Continuing to rise

Brown Group: Trading in a rising band.

HSBC: Down though the stop loss, but belief is that they will recover. Stop loss reset to 5%

Creative Education: Hold, on an 1% stop loss

Rank: Broken out of a long term downtrend but now broached the bottom of a rising trend; hold.

Eckoh: Trading sideways with a large swing; hold.

GKN: Continuing to rise; hold.

Personal Gp: Still in an uptrend; hold.

Scottish Power: At the bottom of a rising band; hold.

Whitbread: Selling their hotels to focus on brewing business. Market liked this and share price rose.

Pennon: Touched 9% stop loss but no breach. Hold.

5 . AOB

Decision made not to wind up the club as a result of the redundancies.
Review again next month.

6. Agenda for next meeting

Review minutes of previous meeting
Review of actions
Treasurer's report
Review of current holdings
AOB
Agenda for next meeting Action Summary

Geoff to progress on taking ownership of the club's current account.

Geoff to write a letter to ComDirect to take ownership of the trading
account.

Date of next meeting

Monday, 18th April 2005, 5.00pm to 6.00pm

Note: AGM date... Monday, 16th May 2005, 5.00pm to 6.00pm