Minutes 20 June 2003Apologies: Mike West, David Redfern
Minutes of Previous Meeting
These were approved and signed.
Matters Arising
Bonnie had contacted the other local IC reference a joint social event with a provisional date of Wednesday 13 August. She offered to host this event with members of both clubs bringing food and drink to the event. Spouses would be included in this event. David Pankhurst had won the monthly share competition with his share Mayflower. Dacre had not yet written to BAe and Intercare reference a visit to their local facilities but he would do this before the next meeting.
Treasurer’s Report
The treasurer was not present so a balance was not available. After note £784.
Share Monitors’ Report
Dacre outlined the present situation regards the present situation of PPL Therapeutics. Copies of recent articles reference the firm would be circulated with these minutes. There had been a delay in the take over of Honey Group by Propan Homes but John Winson believed this would be finalised by the next meeting.
Dealers’ Report
We had agreed to the offer of £5.50 per share for our holding in Powderject from Chiron. In addition we had received dividends from BAe Systems, Capita, Morrisons and Intercare amounting to £56.48.
Future Investments
It was agreed that we did not feel ready to make an investment this month and that we needed to be more methodical and thorough in our research before making an investment decision. The following were put forward for consideration for a decision next month.
Marian First Calgary Petroleum
John Hornby
Gwilys UK Betting
Martin UK blue chip companies
Dacre Royal Bank of Scotland, Unilever, HSBC
David Pankhurst Cash investments
AOB
Dacre outlined a proposed change to our monthly competition. In brief we would still choose a share each month but the individual prize would be decided over a 12 month period not monthly. This would hopefully encourage us to take a longer term view as to our choice of share. This new format was agreed with our first choice being made next month.
Next Meeting
This will be held on Friday 18 July hosted by Gwilys.
Signed:
Date: 18 July 2003
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