Minutes 17 May 2002 Present: David Pankhurst (Host), Bonnie Blackwell, Dacre Holloway, Brenda Noble, David Redfern, Mike West, Gwilys Price, Marian Thornton, Bruce Beacham, John Winson Apologies: Martin Smith Minutes of Previous Meeting These were approved and signed. Matters Arising Gwilys had won the monthly share competition with her share Colt Telecom. Members were asked to update their choice for the next 4 weeks. Bonnie would purchase six bottles of wine as prizes for the competition. Treasurer’s Report A partial set of accounts for the year ending 05 April 2002 were distributed by the treasurer. There was a balance of £664. A complete set would be distributed with the minutes of the AGM. Chair’s Annual Report Bonnie gave a brief outline of our activities for the last 12 months. She was not sure if our entry for the Proshare Website Competition had been received. We would enter again next year. Our website address wasn’t listed in the Proshare magazine and she would ensure it was. Secretary’s Annual Report Dacre had nothing of significance to report. Treasurer’s Annual Report Bruce went through the accounts for the past 12 months. Appointment of Officers The following were re-elected unanimously: Chair - Bonnie Blackwell Secretary - Dacre Holloway Treasurer - Bruce Beacham It was agreed that David Pankhurst would replace Martin Smith as a dealer when we transferred our dealing to an online account as he had internet access. Share Monitors’ Report Our holding was reviewed in the light of the Stop Loss spreadsheet and after a long discussion it was agreed to sell our JJB holding. The restructuring of Carbo was explained by Bruce. Dealers’ Report Nothing to report. Future Investments The following shares were put forward for consideration: Gwilys - Colt Telecom & PHS David Redfern - Fulcrum John Winson - Enterprise Bonnie - Capita Dacre - BT & Colt Telecom After a long discussion and a series of votes it was decided to purchase £600, excluding dealing costs, of shares in Colt Telecom. This company is one of the alternative telecom providers which seems likely to survive the current downturn in this sector. It may also be a takeover candidate as per the recent comments of it being a target for BT. Any Other Business Members made their choice of shares for next month’s competition. Next Meeting This will be on Friday 14 June 2002 hosted by Gwilys Price. Signed: Date: 14 June 2002 Top of page