Minutes of Roborough Investment Club AGM 16th June 2003

Attendees: Alan Martin, Dave Johnston, Franz Fuchs, Chris Bailey, Allan Proudfoot, Les Watson, Cyril Bouhallier, Wez Davey, Phil Ainsley, Andrew Watkins

Apologies: Geoff Floyd, Andy Davies

Absent:

Agenda

1) All officers of the club resign

Chairman, treasurer and secretary resigned.

2) Election of chairman

Franz Fuchs re-elected as chairman

3) Election of treasurer

Cyril Bouhallier re-elected as treasurer.

4) Election of Secretary

Wez Davey elected as secretary

5) Auditors Report

Chris Bailey and Alan Martin audited the accounts as actioned at the previous month?s regular meeting.

Chris Bailey reported 2 minor discrepancies:

1.      4p too much interest shown credited in Charles Schwab.

2.      7.72 too much recorded against the purchase of Kelda.

Chris will be happy to accept the accounts with these discrepancies fixed.

Alan Martin discovered no issues and is happy to accept the accounts.

6) Review of accounts for FY02/03

Chris presented a summary of the year in a new and simplified manner:

 

Opening fund

10335.40

Receipts from members

4740.81

Receipts from sales

6561.17 (Gross)

Dividends received

241.71

Interest

11.62

Purchases of shares

-7385.68

Dealing costs

-212.42 (buying and selling)

Paid out to members

-1115.27

Sub-total

13177.34

Closing fund

10709.29

Loss in value

-2468.05

 

Unit price closed the year at 85p, currently stands at 96p.

7) AOB

Franz had an action to poll members for an alternative date for the regular monthly meetings. This has generally been agreed to be the 3rd Monday of each month at 5pm. It was stated that this is not the most ideal date for everyone, but with no better suggestion forthcoming, it was decided to keep with this date and time.

8) Regular meeting

The AGM was concluded and the "monthly" meeting opened.