Attendees: Allan Proudfoot, Alan Martin, Dave Johnston, Andy Davies, Chris Bailey, Cyril Bouhallier, Andrew Watkins, Les Watson, Franz Fuchs and Tay Huq, a potential new member.
Apologies: Geoff Floyd, Phil Ainsley
Absent: Wez Davey
Agenda
The previous minutes were accepted.
42.1: Geoff Floyd to recreate missing minutes - Action completed.
42.2: Cyril to adjust the RIC split figures to account for the true transfer value - Action completed, RIC split accounts have been adjusted.
The following errors were noted in the treasurer's report for October 2002:
ACTION: Cyril to correct these in the treasurer's report.
10 Oct: Coffee Beans bought 250 shares of Kelda at 395.34 pence/share for £988.36 17 Oct: Tea Leaves sold 28 shares of Send at 55 pence/share for £15.40 (Takeover)
None
Kelda: £45.39
Securicor: £5.43
Chloride - lifted by improving tech sector sentiment
Chorion - selling some of their assets
Eckoh Technology - a write off; no longer being watched/tracked
Kelda - hit by sector sentiment
Marconi - question was raised on what market valuation was based on, growth potential?
Rexam - no news/comment
Royal Sun Alliance - recovering; cash call well received
Securicor - negotiations on cash handling for post offices fell through
Tesco - no comment
D S Smith - tracking the wider market
Urbium - no news/comment
Volex - lifted by improving tech sector sentiment, long-term base line seems to be in the £4 - £5 region ( on 12 November 2002 Volex closed at £0.90)
Cyril reported that a cheque to the value of Rick's share had been sent to Rick Haggitt's widow, but had not yet been cashed.
Tay Huq was shown where to find RIC web site and application forms for club membership.
Next Meeting : 10th December 2002