Minutes of Roborough Investment Club Meeting #73
9 May 2005


Attendees:
Allan Proudfoot,Alan Martin,Chris Bailey, Les Watson,Geoff Floyd,

Apologies:
Franz Fuchs, Andy Davies,

Absent:

Agenda:
Review minutes of previous meeting
Review of actions
Treasurer's report
Review of current holdings
AOB
Agenda for next meeting

1. Review minutes of previous meeting
Previous meeting's minutes: Les pointed out that he attended by phone. Minutes updated.

 

2. Review Actions

Geoff's action to transfer the ComDirect account over to him is ongoing. ComDirect have requested that he write a letter confirming all the transfer details.

Geoff's action to transfer ownership of the current account to himself is still ongoing.


3. Treasurer's Report

Resignations

Phil Ainsley - to be paid 1904.42

Shares purchase/sales this month

Sold
Carnival Plc for 807.72
Brown (N) Group for 951.90
GKN Plc for 897.55
Rank Group for 988.73

Dividends Received

Pennon Group 20.70
Personal Group 27.56

Asset Summary

Name of Company

No shares

Average price

Total Cost

Selling price

Net selling value

Profit or loss to date

Change during month

%

Creative Education

9825

10.18

999.91

5.25

503.31

-496.60

24.56

4.9%

Eckoch Technology

2000

39.13

782.56

9.00

167.50

-615.06

-5.00

-3.0%

Hardys & Hansons

143

424.33

606.79

668.00

942.74

335.95

22.88

2.4%

HSBC

98

918.10

899.74

834.50

805.31

-94.43

-3.92

-0.5%

Kelda

245

396.83

972.24

631.50

1534.68

562.44

68.60

4.5%

Personal

525

190.95

1002.49

218.00

1132.00

129.51

15.75

1.4%

Pennon Group

150

678.17

1017.25

977.50

1453.75

436.50

2.25

0.2%

Scot Power

234

434.62

1017.00

421.25

973.23

-43.77

30.42

3.1%

Whitbread

109

825.41

899.70

847.50

911.28

11.58

-101.91

-11.2%

 

 

 

8197.68

 

8423.80

226.12

53.63

0.6%

Unit price reduced from 113 to 112p.

 

4. Review of current holdings

The following is a brief summary of what was said.

Kelda: No breach of 9% S.L. Since 2003. Hold.

Hardys & Hanson: ok to hold has not breached a 15% stop loss since mid-2000

HSBC: Keep with 5% stop loss. SL has moved upward over the month

Creative Education: Hold, on an 1% stop loss

Eckoh: Trading sideways with a large swing; hold.

Personal Gp: Hold.

Scottish Power: Hold.

Whitbread: Hold - Special dividend 13 May record date; 16 May ex-dividend; 17 May we decide to sell or not.

Pennon: Chart shows major kick upward in April is this real??.

 

5 . AOB

1)   Keep club going for another quarter

2)   Use Yahoo voting for but and sell proposals through the month

3)   Buy proposals: Astra Zeneca, Glaxo and Wyevale Garden Centres reviewed; decision made to purchase 2000 of Wyevale.
 

 

6. Agenda for next meeting

Review minutes of previous meeting
Review of actions
Treasurer's report
Review of current holdings
AOB
Agenda for next meeting


Action Summary

Geoff to progress on taking ownership of the club's current account.

Geoff to write a letter to ComDirect to take ownership of the trading account.

Les to check the PNN graph

Club to vote on whether to sell WTB or not on 17 May


Date of next meeting

AGM date... Monday, 20th June 2005, 5.00pm to 6.00pm