Apologies:
Les Watson
Absent:
Chris Bailey,Phil Ainsley
Agenda:
The group sold UK coal for £820.80, and London Stock Exchange for £1207.69. The group received a divident from Scottish Power for £11.58. The unit price rises from 110p to 111p, and is about 112p today. Full details below.
Name of Company | No shares | Average price | Total Cost | Selling price | Net selling value | Profit or loss to date | Change during month | % | |
A | Bovis Homes |
223
|
447.81
|
998.61
|
580.00
|
1280.90
|
282.29
|
142.72
|
11.1%
|
Personal |
525
|
190.95
|
1002.49
|
200.00
|
1037.50
|
35.01
|
-52.50
|
-5.1%
|
|
Pennon Group |
150
|
678.17
|
1017.25
|
995.00
|
1480.00
|
462.75
|
125.25
|
8.5%
|
|
Royal Doulton |
6361
|
12.14
|
771.97
|
11.50
|
719.02
|
-52.95
|
47.71
|
6.6%
|
|
Scot Power |
234
|
434.62
|
1017.00
|
403.00
|
930.52
|
-86.48
|
-6.44
|
-0.7%
|
|
TT Electronics |
578
|
172.74
|
998.45
|
192.00
|
1097.26
|
98.81
|
26.01
|
2.4%
|
|
Whitbread |
109
|
825.41
|
899.70
|
846.00
|
909.64
|
9.94
|
26.16
|
2.9%
|
|
MI | Assocd Brit Ports |
241
|
414.52
|
998.99
|
474.25
|
1130.44
|
131.45
|
-20.49
|
-1.8%
|
Brown (N) Group |
800
|
124.06
|
992.50
|
120.00
|
947.50
|
-45.00
|
-94.00
|
-9.9%
|
|
Creative Education |
9825
|
10.18
|
999.91
|
5.50
|
527.88
|
-472.03
|
111.03
|
21.0%
|
|
Eckoch Technology |
2000
|
39.13
|
782.56
|
7.75
|
142.50
|
-640.06
|
-62.60
|
-43.9%
|
|
Hardys & Hansons |
143
|
424.33
|
606.79
|
550.00
|
774.00
|
167.21
|
3.57
|
0.5%
|
|
HSBC |
98
|
918.10
|
899.74
|
879.00
|
848.92
|
-50.82
|
-37.24
|
-4.4%
|
|
Isoft |
294
|
339.26
|
997.43
|
344.00
|
998.86
|
1.43
|
-124.22
|
-12.4%
|
|
Kelda |
245
|
396.83
|
972.24
|
628.50
|
1527.33
|
555.09
|
165.38
|
10.8%
|
|
Rank |
385
|
259.73
|
999.97
|
263.50
|
1001.98
|
2.01
|
-192.50
|
-19.2%
|
|
14955.60
|
15354.25
|
398.65
|
57.84
|
0.4%
|
Unit price climbs from 110 to 111p.
4. Review of current holdings
A very brief summary was provided by each team:
A team:
Bovis reached it £6 target and was sold. However they have gone
up since selling.
Royal Daulton. Plan to hold until it reaches its compulsory purchase
price (12p). This will save dealing costs but could tie up the money for
several weeks during the purchase. They are not worth selling yet.
MI team:
Hardy's and Hanson's - keeps going up. Have been tipped by several
papers as a good share to take profits on, so keep a close eye on them.
HSBC - down
Kelda - down
Rank - down
The last week of the month was not good for the MI team. Hope that
shares will recover next month.
5. AOB
a) Geoff has agreed to become the lead investor for the club. A vote
taken by the members present at the meeting was as follows:
For: 6
Against: 0
Abstain: 0
Absent: 3
The club therefore recognises Geoff as the lead investor.
b) Wez Davey (the current Chairman) has resigned. He resignation has
been accepted.
Alan Martin put his name forward to become chariman. He was unopposed
and unanimously voted Chairman as follows:
For: 5
Against: 0
Abstains: 0
Absent: 3
c) The Z' team have renamed themselves MI (Mission Impossible). Their goal (seen as virtually impossible) is to outperform the 'A' team. Hence, the new teams are:
The 'MI' team:
Geoff,
Franz,
Les,
Chris
The 'A' team:
Andy,
Phil,
Alan M,
Alan P,
Andrew
d) The question was raised again, on whether it is still appropriate to have competing 2 teams. The answer was a universal 'yes' whilst the number of members in the club remains above 7.
e) The question "Do we want to continue?" was also raised. Of the remaining 6 members (excluding Wez), 4 (Alan M, Alan P, Geoff and Franz) were in favour. The other 2, (Andy and Andrew) admitted that should the club reach breakeven they would seriously consider resigning too.
Geoff agreed to take ownership of the club's current account, and will find out what is involved in transfering ownership.
Geoff to recover the excess mony paid to Cyril.
All: Complete the form that transfers ownership of the comDirect trading account from Cyril to Geoff