Attendees: Alan Martin, Geoff Floyd, Richard Albon, Andrew Watkins, Wez Davey, Phil Ainsley, Andy Davies, Allan Proudfoot, Don Parker, Chris Bailey, Les Watson
Apologies: Rick Haggitt, Martin Collinge, Cyril Bouhallier, Franz Fuchs, Robin Rynhart, Stephen Andrew, Dave Johnston, Kevin Forrest, Alan Worroll
As it said, the club's officers resigned.
Richard proposed that Andy Davies be the chairman of the club, the proposal was seconded by Chris Bailey. Andy agreed to stand for office and was voted in unanimously by those in attendance.
It was proposed (by everyone - OK such was the relief that I forgot to make a note of who actually made the proposal, Sec), that Geoff be re-elected unopposed to the position of treasurer. This proposal was seconded by Phil Ainsley, Geoff (in a daze at such overwhelming support) agreed to stand and he too was unanimously elected.
Don Parker proposed that Les Watson continue as Secretary and was seconded by Andrew Watkins (I think - Sorry). Anyway the vote was unanimous and so with a new set of officers installed the meeting moved on.
Chris Bailey and Andy Davies acted as the club's auditors and both recommended that the club's accounts be accepted. Chris suggested that the accounts could benefit from a new layout but indicated that Geoff's bookkeeping was meticulous. Chris also suggested that the treasurers expenses should also be covered by a miscellaneous account. This was agreed.
Geoff presented a summary of the club's accounts over the past year. This presentation is loaded up on the club's web page so it is not included here. Geoff also indicated that he had submitted the accounts to the tax inspector who agreed that our submission was acceptable. He would therefore be issuing each member with a copy of their tax liability for the past year due to the RIC. In summary monies in our investment club grew by some 67% over the year compared with the FTSE All share index which grew by 6%.
Change to the club rules
Geoff proposed that all research data be loaded up on to the club's web page and that an open invitation be passed to the "share mentors" to pass this to Geoff.
A vote of thanks was proposed by Don and seconded by Chris and a warm round of applause was given to Richard for steering us through our first year of sound financial growth.
The meeting closed at 5:55pm