Minutes of Roborough Investment Club Meeting
#25 – 8th May 2001

Attendees: Andrew Watkins, Dave Johnston, Andy Davies, Cyril Bouhallier, Alan Martin, Stephen Andrew, Wez Davey, Geoff Floyd, Les Watson

Apologies: Martin Collinge, Lawrence Watson

Absent: Rick Haggitt, Chris Bailey, Franz Fuchs, Allan Proudfoot, Phil Ainsley

Agenda

1) Review Minutes of previous meeting

The previous minutes were accepted.

2) Review actions

Action 23.2: CB to carry out an email vote on "competition" investment of £1. Killed

Due to lack of interest

Action 24.1: GF to amend Lawrence Watson’s unit allocation for April (£50 to £30) Done

Action 24.2: GF to buy £1000 of BBG, CBRY and CRM Done

Action 24.3: AD to give notice of the Annual General Meeting Done

The AGM will be on June 12th

No actions were outstanding

3) Review Treasurers Report - May 2001

Shares purchase/sales this month

Purchased: 11-Apr-01 Balfour Beatty 518 shares @ 192.40 costing £996.63 & £16.98 charges

Purchased: 11-Apr-01 Cadbury Schweppes 222 @ 449.50 costing £997.89 & £16.99 charges

Purchased: 11-Apr-01 Carr's Milling 1149 @ 86.60 costing £995.03 & £16.98 charges

Dividends Received

25-Apr-01 ICI £17.55

30-Apr-01 Barclays £11.78

Asset Summary

Name of Company

No shares

Average price

Total Cost

Selling price

Net selling value

Profit or loss to date

Change during month

Balfour Beatty

518

195.68

1013.61

188.00

961.84

-51.77

-51.77

Boots

170

597.49

1015.74

615.50

1034.35

18.61

-19.55

Cadbury Schw'

222

457.15

1014.88

429.00

940.38

-74.50

-74.50

Carr's Milling

1149

88.08

1012.01

100.00

1137.00

124.99

124.99

Tesco

594

257.93

1532.13

249.00

1467.06

-65.07

0.00

365 Corp

242

212.99

515.44

16.50

27.93

-487.51

-12.10

TT Group

571

178.09

1016.91

170.00

958.70

-58.21

68.52

6107.11

5565.42

-541.69

87.36

Unit price fell from 137 to 121.

The treasurers report was unavailable at the meeting. The figures above have been compiled from the accounts spreadsheet.

The unit value change seemed large compared to the monthly change. Geoff was asked to investigate

Action 25.1: GF to check May unit price

The AGM is next month and 2 "volunteers" were sought to audit the club accounts. Alan and Chris volunteered

Action 25.2: AM, CBa to audit the 2000/2001 club accounts before the AGM

4) Review of current holdings

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

Notes

Buddy

Share

Recommendation

BOOT

Chris Bailey

No information

HOLD

TSCO

Martin Collinge

Tracking sideways

HOLD

TSF

Wez Davey

Boardroom arguments – chairman resigns

HOLD

TTG

Geoff Floyd

No new information

HOLD

BBG

Lawrence Watson

Long term gain is believed

HOLD

CRM

Andrew Watkins

A discussion as to cashing in was discussed

HOLD

CBRY

Andy Davies

Geoff recommended selling, AD resisted

HOLD

 

5) Review Investment proposals

There were 10 share proposals submitted. The proposals were considered and voting was carried out under secret ballot conditions so that no prejudice voting was carried out. The latest copy of CD Refs is now available. Attempts to consider each share through the cd were too time consuming for the meeting. An idea to later review the shares was given as a further option. The options considered were (with their votes):

Keep Cash 0

Cable & Wireless 2

Debenhams (DEB) 1

Phytopharm 1

British Regional Airlines 2

Carillion 1

TrafficMaster 1

Airtours 0

BAE Systems

Mothercare 3

Vosper Thornycroft Holdings (VSP) 0

Use CD REFS to review proposals and vote by email 7

Action 25.2: GF to review share proposals via CD Refs and email group with the results

6) AOB

The Annual General Meeting is next month. Come prepared to aid selection of Chairman, Secretary and Treasurer.

7) Agenda for next meeting (AGM)

Date of next meeting

Next Meeting : 12th June 2001 (AGM)