Minutes of Roborough Investment Club Meeting #51 - 21st July 2003

Attendees: Alan Martin, Dave Johnston, Chris Bailey, Allan Proudfoot, Cyril Bouhallier, Wez Davey, Andrew Watkins, Andy Davies

Apologies: Les Watson, Phil Ainsley, Franz Fuchs, Geoff Floyd

Absent:

Agenda

  1. Review minutes of previous meeting
  2. Review of actions
  3. Treasurer's report
  4. Review of current holdings
  5. AOB
  6. Agenda for next meeting

1. Review minutes of previous meeting

The previous minutes were accepted.

2. Review Actions

There were no actions recorded to review, however, Cyril was not sure if the account discrepancies had been fixed.

Action: Cyril to check audit discrepancies are fixed.

3. Treasurer's Report

Shares purchase/sales this month

19 June 2003: Bought 200 Shares of British Land at 511.23p/share for 1022.45
                       Bought 430 Shares of Victoria Carpet at 233.65p/share for 1004.69
25 June 2003: Bought 143 Shares of Hardys & Hansons at 424.33p/share for 606.79

11 June 2003: Sold 650 Shares of DS SMith at 171p/share for 1004 - Profit: 100.69
17 June 2003: Sold 570 Shares of Laird at 205.5p/share for 1163.85 - Profit: 165.32
20 June 2003: Sold 125 Shares of Abbey National at 479.38p/share for 591.73 - Profit: 94.60
25 June 2003: Sold 1241 Shares of Volex at 72.806p/share for 886.02 - Profit: 196.32
27 June 2003: Sold 161 Shares of Cambridge Antibody Technology at 545.69p/share for 871.06 - Profit: 171.97

Resignation

None

Dividends Received

Rexam : 26.38
Laird: 30.78
Tesco: 22.86

Asset Summary

 

 

Company

No shares

Average price

Total Cost

Selling price

Net selling value

Profit or loss to date

Change

%

 Tea leaves

None Nada Zilch

-

-

-

-

-

-

-

-

Coffee beans

British Land

200

511.23

1022.45

480

952.5

-69.95

-

-

 

Bunzl

113

440.27

497.51

424.00

471.62

-25.89

-1.89

-0.42

 

Chorion

4304

23.23

999.99

4.25

175.42

-824.57

21.52

12.27

 

Eckoch Technology

2000

39.13

782.56

12.00

232.50

-550.06

-15.00

-6.45

 

Hardys & Hansons

143

424.33

606.79

393.00

554.49

-52.30

-

-

 

Kelda

505

396.83

2004.01

426.50

2146.33

142.32

-46.71

-2.18

 

Rank

385

259.73

999.97

251.75

961.74

-38.23

41.39

4.30

 

Urbium

4304

0.00

0.00

5.30

220.61

220.61

8.61

3.90

 

Victoria Carpet

430

233.65

1004.69

225.00

960.00

-44.69

-

-

Total

 

 

 

7917.97

 

6711.97

-1206.00

-5.41

-29.44

Unit price is the same at 96p.

Andy queried the RIC split spreadsheet. The spreadsheet shows the holdings value rising since the end of June but the unit price is still frozen.

Action: Cyril to check why the RIC split rising charts have not been reflected in the unit price.

4. Review of current holdings

The Tea Leaves have no holdings, still waiting for the ?golden? trigger from the charts. They have 8 companies that are being monitored closely, plus a general continuous search of the FTSE350. Proposal, how about the Coffee Beans spend the Tea Leaves cash and split profit??, okay, and loss.

 

Action: Tea Leaves to vote on the Coffee Beans spending their cash with profit/loss split.

 

The Coffee Beans have purchased Hardys and Hansons, British Land and Victoria carpet because their share prices are below their net asset value. There is also pressure for these companies to increase their dividend.

 

Looking to sell Urbium ?fee free?, though a director has just bought a large holding.

5. AOB

NOB

6. Agenda for next meeting

  1. Review minutes of previous meeting
  2. Review actions
  3. Review treasurer's report
  4. Review current holdings
  5. AOB
  6. Agenda for next meeting

Date of next meeting (regular monthly meeting)

Next Meeting: Monday, 18th August 2003, 17:00h to 18:00h