Griffin Speculators Investment Club
Minutes of meeting held on Wed 1st November 2000
Present: Jon Kitch, Paul Manning, Nick Walch,
Richard Poole, Ian
Cosford, Dean Cunliffe, Pauline Naylor, Andy Slinn, Neil Hogg, Tim Bentley,
Andy Taylor.
Apologies: Keith Burbanks, Graham Roy.
Previous Minutes:
Minutes of the monthly meeting of 4th October 2000 were approved.
Treasurer's Report:
The Treasurer reported the following figures :
HSBC : £262.75
Charles Schwab : £261.13
Petty Cash : £ 0.55
Total : £524.43
Less
Admin. Fund : £ 32.85
Amount available to
to Invest at meeting : £491.58
(not including sales)
Net Assets : £6352.69
(96.39% of total current cash contributions since
inception)
Unit Price : £0.88
Additional Investment
There were no applications to increase monthly subscriptions.
Ian Cosford applied to purchase an additional 100 units.
Tim Bentley applied to purchase an additional 100 units.
Richard Poole applied to purchase an additional 50 units.
Pauline Naylor applied to purchase an additional 50 units.
Neil Hogg applied to purchase an additional 50 units.
All applications were approved.
Current Portfolio:
| Stock | No | Valuation | 'Owner' | Stop-Loss | Target |
| Alizyme | 960 | £1273.54 | (RP) | 90p | Sell ½ at 250p |
| Artisan | 6270 | £928.50 | (NW) | 10p | Sell ½ at 30p |
| Atlantic Caspian Ord 5p | 5079 | £191.16 | (GR) | None | Sell ½ at 20p |
| Cable & Wireless Ord 25p | 102 | £972.30 | (RP) | 804p | Review Jan2001 |
| Envesta | 52 | £0.48 | (NW) | None | None |
| Just Group | 4414 | £341.12 | (RP) | 6p | Sell ½ at 20p |
| Lastminute.com | 35 | £29.30 | (NW) | None | Cover selling costs |
| National Grid | 186 | £1087.26 | (IC) | 400p | Review Dec2000 |
| Quintain Estates | 403 | £628.77 | (NH) | 130p | Review Jan 2001 |
| Rage Software | 2176 | £379.68 | (AS) | None | Review Jan 2001 |
After discussion the meeting agreed to hold on to all current holdings.
This Months Investment Decision
The meeting did not consider any purchase recommendations this month and agreed
that the best policy would be to build up funds for a couple of months which
could then be used to fund a subsequent larger purchase.
Estimated Amount Available at next meeting:
Amount Available for
Investment This Month : £491.58
Plus
Monthly Sub : £270.00
Additional investments : £308.00
AMOUNT AVAILABLE TO INVEST : £1069.58
AOB
Andy Slinn and Nick Walch were actioned to provide some feedback from the
Proshare investment seminar at the next meeting.
Paul Manning was actioned to obtain some further information on a new dealing
service (iDealing.com) recently set up for investment clubs.
Jon Kitch has created a Word version of the GSIC Constitution which will be
circulated to members.
Next Meeting
The next normal monthly meeting has been arranged for Wednesday
6th December 2000 at 12:30 pm in Moseley's Arms function room.