Minutes 8 March 2002Apologies: Gwilys Price, Martin Smith
Minutes of Previous Meeting
These were approved and signed.
Matters Arising
Carbo. This holding had been held because we had missed the opportunity to sell at 7.5p. It was agreed that we would consider selling if the price went back to 7p. If this happened between meetings John Winson would telephone members to canvas their thoughts and would sell if this were the majority view.
The possibility of changing our broker to an online service was raised and it was agreed that we would discuss this at the next meeting. Members were asked to investigate options.
Treasurers Report
There was a balance of £890.
Share Monitors Reports
Members were given a copy of our portfolio and the Stop Loss sheet as at the date of the meeting. They were also brought up to date on recent news for our current holdings. Our holding in JJB would be monitored closely over the next month in view of its heavy drop in price on 08 March. It was agreed to continue all our other holdings for another month.
Dealers Report
Nothing to report.
Future Investments
The shares put forward at the last meeting were discussed plus the following new options:
Wolsey
Thorntons
Kingfisher
British Airways
British Telecom
Balfour Beatty
Persimmon
Capita
After a discussion it was agreed we would purchase £800 of shares in Persimmon for the following reasons:
It was in an area in which we were not invested and would help to give more “gravitas” to our portfolio. It was also a company we had been monitoring over the last 18months and which still had room for further upward movement in its price.
Any Other Business
It was agreed we would run a monthly fun competition with a prize of a bottle of wine. Members were asked to choose a share which would be monitored until the next meeting. The winner would be the member whose share had the greatest % rise in price. The start price would be as at 09 March.
Next Meeting
This will be on Friday 12 April 2002 at Bonnie’s.
Signed:
Date: 12 April 2002
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