Minutes
of Roborough Investment Club Meeting #73
9 May 2005
Attendees:
Allan Proudfoot,Alan Martin,Chris Bailey, Les Watson,Geoff Floyd,
Apologies:
Franz Fuchs, Andy Davies,
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: Les pointed out that he attended by phone. Minutes updated.
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
Phil Ainsley - to be paid £1904.42
Sold
Carnival Plc for £807.72
Brown (N) Group for £951.90
GKN Plc for £897.55
Rank Group for £988.73
Pennon Group £20.70
Personal Group £27.56
|
Name of Company |
No shares |
Average price |
Total Cost |
Selling price |
Net selling value |
Profit or loss to date |
Change during month |
% |
|
Creative Education |
9825 |
10.18 |
999.91 |
5.25 |
503.31 |
-496.60 |
24.56 |
4.9% |
|
Eckoch Technology |
2000 |
39.13 |
782.56 |
9.00 |
167.50 |
-615.06 |
-5.00 |
-3.0% |
|
Hardys & Hansons |
143 |
424.33 |
606.79 |
668.00 |
942.74 |
335.95 |
22.88 |
2.4% |
|
HSBC |
98 |
918.10 |
899.74 |
834.50 |
805.31 |
-94.43 |
-3.92 |
-0.5% |
|
Kelda |
245 |
396.83 |
972.24 |
631.50 |
1534.68 |
562.44 |
68.60 |
4.5% |
|
Personal |
525 |
190.95 |
1002.49 |
218.00 |
1132.00 |
129.51 |
15.75 |
1.4% |
|
Pennon Group |
150 |
678.17 |
1017.25 |
977.50 |
1453.75 |
436.50 |
2.25 |
0.2% |
|
Scot Power |
234 |
434.62 |
1017.00 |
421.25 |
973.23 |
-43.77 |
30.42 |
3.1% |
|
Whitbread |
109 |
825.41 |
899.70 |
847.50 |
911.28 |
11.58 |
-101.91 |
-11.2% |
|
|
|
|
8197.68 |
|
8423.80 |
226.12 |
53.63 |
0.6% |
Unit price reduced from 113 to 112p.
4. Review of current holdings
The following is a brief summary of what was said.
Kelda: No breach of 9% S.L. Since 2003. Hold.
Hardys & Hanson: ok to hold – has not breached a 15% stop loss since mid-2000
HSBC: Keep with 5% stop loss. SL has moved upward over the month
Creative Education: Hold, on an 1% stop loss
Eckoh: Trading sideways with a large swing; hold.
Personal Gp: Hold.
Scottish Power: Hold.
Whitbread: Hold - Special dividend 13 May record date; 16 May ex-dividend; 17 May we decide to sell or not.
Pennon: Chart shows major kick upward in April – is this real??.
5 . AOB
1) Keep club going for another quarter
2) Use Yahoo voting for but and sell proposals through the month
3)
Buy proposals: Astra Zeneca,
Glaxo and Wyevale Garden Centres reviewed; decision made to purchase £2000 of
Wyevale.
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.
Les to check the PNN graph
Club to vote on whether to sell WTB or not on 17 May
Date of next meeting
AGM date... Monday, 20th June 2005, 5.00pm to 6.00pm