Minutes of Roborough Investment Club Meeting #52

18th August 2003

Attendees: Alan Martin, Les Watson, Chris Bailey, Cyril Bouhallier, Wez Davey, Andrew Watkins, Andy Davies, Franz Fuchs, Geoff Floyd

Apologies: Allan Proudfoot, Phil Ainsley, Dave Johnston

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, but need to be ?cheered up?. (The cheek).

2. Review Actions

Review of Action 1: Cyril to check audit discrepancies are fixed.

Carried forward?

Action 1: Cyril to check audit discrepancies are fixed.

Review of Action 2: Cyril to check why the RIC split rising charts have not been reflected in the unit price.

Fixed.

Review of Action 3: Tea Leaves to vote on the Coffee Beans spending their cash with profit/loss split.

The colourful metaphoric answer can be summarised as a ?NO?.

3. Treasurer's Report

Shares purchase/sales this month

None

Resignation

None

Dividends Received

BNZL : 8.53
Victoria : 38.70

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

501.75

996.00

-26.45

43.50

4.37

 

Bunzl

113

440.27

497.51

424.00

480.38

-17.13

8.76

1.82

 

Chorion

4304

23.23

999.99

4.25

186.18

-813.81

10.76

5.78

 

Eckoch Technology

2000

39.13

782.56

12.00

242.50

-540.06

10.00

4.12

 

Hardys & Hansons

143

424.33

606.79

393.00

581.66

-25.13

27.17

4.67

 

Kelda

505

396.83

2004.01

426.50

2217.03

213.02

70.70

3.19

 

Rank

385

259.73

999.97

251.75

1094.56

94.59

143.41

13.10

 

Urbium

86

0.00

0.00

465.50

392.83

392.83

124.87

31.79

 

Victoria Carpet

430

233.65

1004.69

247.00

1054.60

49.91

94.60

8.97

Total

 

 

 

7917.97

 

7245.74

-672.23

533.77

7.37

Unit price is up from 96p to 100p.

Les spotted a difference in holdings he believed to be a rounding error. It turned out to be that Geoff bought a stamp and was credited with 28p. There was, however, another anomaly noted between Alan P and Chris. The unit value for Alan was 1001.55 and for Chris 1001.02 when both had made the same contributions and joined at the same time.

Action 2: Cyril to check why Alan P and Chris have different unit value.

A discrepancy in the leader column of the RIC split spreadsheet was noted.

Cyril is still waiting for a number of ID documents for Comdirect. He will continue to chase for them.

4. Review of current holdings

Tea Leaves

Les embarked on a detailed ?techno babble? of the Tea Leaves charting status.

CAT: Recent sell, due to high chance of reversal and volume move.
CHLD: Volume action building.
ANL: Recent sell. Gone up since sold but currently at a high chance of reversal.

Waiting for buy triggers. Others being watched include Galen Holdings (HRT company), Interserve, Matalan, Rexam, Royal and Sun Alliance.

Coffee Beans

Still into a habit of buying at a high. Concentration is currently on high dividend shares, but the whole process is more sporadic than the Tea Leaves. GAW and LMC got away.

Action 3: Les will check if GAW and LMC would have shown on the chart.

BLND bought, but Les says the chart shows a ?no?. VCP and HDYS also bought and again Les?s chart shows the price is high. We shall see?

5. AOB

Are we better than the FTSE? No, we are tracking.

What about premium bonds for the Tea Leaves? cash? No, this requires an individual and cannot be done as a club. Besides, the Tea Leaves expect to be buying again soon.

With our club value rising we are running the risk of falling out of the simplified tax scheme.

Action 4: Geoff to find out what the simplified tax scheme is.

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

Action Summary

Action 1: Cyril to check audit discrepancies are fixed.
Action 2: Cyril to check why Alan P and Chris have different unit value.
Action 3: Les will check if GAW and LMC would have shown on the chart.
Action 4: Geoff to find out what the simplified tax scheme is.

Date of next meeting (regular monthly meeting)

Next Meeting: Monday, 15th September 2003, 17:00h to 18:00h