Minutes of Roborough Investment Club Meeting
#18 - 14 November 2000

Attendees: Franz Fuchs, Cyril Bouhallier, Andrew Watkins, Alan Martin, Dave Johnston, Geoff Floyd, Kevin Forrest, Phil Ainsley, Richard Albon, Andy Davies

Apologies: Alan Worroll, Rick Haggitt, Martin Collinge, Stephen Andrew, Don Parker, Allan Proudfoot, Chris Bailey, Les Watson, Wez Davey

Agenda

1) Review Minutes of previous meeting

The previous minutes were accepted.

2) Review actions

17.2 Alan ??: Cannot remember which Alan took this action therefore decided to kill.

17.3 Kevin: To gather more info on ARC - Killed

18.1 GF to purchase 1000 of Parthus shares - Complete

3) Review Treasurers Report

One missing payment last month - Rick Haggitt - but has paid this month.

Shares purchase/sales this month

Sold Bond - 206.33 realising a loss of 57.07

Purchase 370 Parthus for 1020.99

Dividends Received

Volex - 5.44

Barclays - 6.20

ICI - 11.25

Asset Summary

Name of Company

No shares

Average price

Total Cost

Selling price

Net selling value

Profit or loss to date

Change during month

Barclays

31

1676.13

519.60

1968.00

598.08

78.48

29.76

Chloride

629

79.90

502.56

205.00

1277.45

774.89

113.22

Fleming Euro IT

108

461.35

498.26

415.00

436.20

-62.06

-46.44

ICI

90

571.37

514.23

421.00

366.90

-147.33

33.30

Parthus 

370

2.76

1020.99

233.00

850.10

-170.89

-170.89

Prudential

53

979.40

519.08

927.00

479.31

-39.77

4.77

Tepnel LC

1064

94.09

1001.12

84.00

881.76

-119.36

0.00

Tesco

221

225.52

498.41

262.75

568.68

70.27

39.23

365 Corp

242

212.99

515.44

55.00

121.10

-394.34

-9.68

VI Group

658

40.01

263.29

34.00

211.72

-51.57

-19.74

Volex

85

1795.11

1525.84

2125.00

1794.25

268.41

148.75

6138.63

7378.82

7585.55

206.73

122.28

 Volex rose 148 and Chloride 113 unfortunately Parthus dropped 170.

Unit price dropped from 167 to 164.

Would have risen to 170 without purchase of the company refs.

 

Stop Loss

BARC

FEF

ICI

PRH

PRU

TED

TSCO

TSF

VIG

VLX

Max

2010.00

466.50

562.00

297.00

1023.00

92.50

277.75

302.50

44.50

2125.00

Current

2010.00

416.50

469.00

183.00

1020.00

84.50

277.75

52.50

35.50

2100.00

Change

100%

89%

83%

62%

100%

91%

100%

17%

80%

99%

Original

1639.00

441.50

555.25

270.00

952.00

92.50

219.00

207.00

38.00

1650.00

Change

123%

94%

84%

68%

107%

91%

127%

25%

93%

127%

  

ICI has recovered to 83% having fallen below the stop loss last month.

Parthus has hit the stop loss already at 62%

VI Group is bang on 80%.

TSF fallen further to 17% (22% last month) - We have already decided to hold on as it is now worth so little.

4) Review of current holdings

Each "share buddy" at the meeting gave a brief update about his share.

Notes

Buddy

Share

Recommendation

BARC

Richard Albon

Steady rise over last month.

HOLD

CHLD

Geoff Floyd

Recommended sale during the month.

SOLD

FEF

Franz Fuchs

No major changes

HOLD

ICI

Andrew Watkins

Believe price has stabilised. Expect steady growth over the long term (1 to 2 years).

HOLD

PRH

Phil Ainsley

Drop in value due to new share issue and tech stock sell off. 10% rise today. Hold for short-term gain.

HOLD

PRU

Andy Davies

Steady growth last month.

HOLD

TED

Les Watson

Due to announce a number of new home test products?

HOLD

TSCO

Alan Worroll

Steady growth last month.

HOLD

TSF

Wez Davey

Price so low it is hardly worth selling.

HOLD

VIG

Don Parker

Recommend sell to free money for a faster growing investment.

SELL

VOD

Les Watson

No purchase yet. Awaiting development.

WAIT

VLX

Dave Johnson

Steady growth.

HOLD

4) Review Investment proposals

4.1) Oil Company

Proposal by Alan Martin to purchase shares in an oil company. Oil prices are likely to rising in the future as supplies run short. This could lead to an increase in profits for oil companies.

Action 19.1 - Alan to propose a purchase.

4.2) DICOM

DICOM are projecting high turnover and sales growth into the future. Their share price is low (PER = 9.6, PSR = 0.7, Gearing -23%) Looks to be good value for a growth share.

It was initially decided to purchase 1000 of DICOM. This was reduced to 500 plus the sale to VIG to leave sufficient spare cash in the brokers for Les's Vodafone trades. In fact there is sufficient spare cash to allow a 1000 purchase when the recent sale of Chloride is included in the total. The Chloride sale is not settled and therefore does not appear in the cash total..

4.3) Games Software

Proposal to purchase a games software company to cash in of software sales over Christmas and launch of Sony Play Station 2. Perhaps EIDOS or RAGE.

4.4) Vodafone

At a previous Tuesday lunchtime meeting it was decided that Les should trade 1000 worth of Vodafone using his technical analysis software to predict the buy and sell points. Based on past performance we should be able to make 15% per trade minus trading costs.

5) Agenda for next meeting

Next Meeting: 12th December 2000