Griffin Speculators Investment Club
Minutes of meeting held on Wed 2nd August 2000
Present: Jon Kitch, Neil Hogg, Paul Manning, Nick
Walch, Nick
Pollard, Andy Slinn, Tim Bentley.
Apologies: Andy Taylor, Richard Poole, Ian Cosford,
Dean
Cunliffe, Keith Burbanks
Previous Minutes: Minutes of the monthly meeting
of 5th July
2000 were approved.
Treasurer's Report:
Treasurer reported the following figures :
HSBC : #209.80
Charles Schwab : # 20.58
Petty Cash : # 0.55
Tot : #230.93
Less
Admin. Fund : # 27.85
Amount due to to Invest at meeting : #203.08
(not including sales)
Net Assets : #6371.09
(106.22% of total current cash contributions since inception)
Unit Price : #0.97
The Treasurer also reported that the bank signature mandate
had been amended to reflect new club officers. Signatories are
now any 2 of Paul Manning, Ian Cosford, Ricahrd Poole and Andy
Slinn.
We have also been allocated our additional 106 Alizyme shares
at a cost of #106.
Current Portfolio :
| Stock | No | Valuation | 'Owner' | Stop-Loss | Target |
| Alizyme | 960 | £1092.00 | (RP) | 90p | 250p (then sell half) |
| Cable & Wireless Ord 25p | 102 | £1179.36 | (RP) | 804p | Review Jan2001 |
| Atlantic Caspian Ord 5p | 5079 | £343.53 | (GR) | None | 20p (then sell half) |
| Artisan | 6270 | £928.50 | (NW) | 10p | 30p (then sell half) |
| Lastminute.com | 35 | £41.55 | (NW) | None | cover selling costs |
| National Grid | 186 | £1012.86 | (IC) | 400p | review Dec2000 |
| Quintain Estates | 403 | £632.80 | (NH) | 130p | review Jan 2001 |
| Vodafone Airtouch | 307 | £862.95 | (AT) | 250p | review Jun2001 |
It was noted that Vodafone Airtouch are now known as Vodafone.
Additional Investment:
Ian Cosford applied to purchase an additional 50 units in the
club. This was accepted.
There were no applications to increase monthly subscriptions.
Current Portfolio
The meeting agreed to hold on to all current holdings.
This Months Investment Decision
Due to the lack of available funds the meeting agreed to "Do
Nothing". The concensus was we "hold and build".
It was noted that some attractive proposals were put forward
this month. The general view of the meeting was that
proposals made during times of "low capital" should perhaps be
accompanied by a sell proposal if it was felt the new stock was of better
value to the club than any existing holding.
Estimated Amount Available at next meeting:
Amount Available for
Investment This Month : #203.08
Plus
Monthly Sub : + #290.00
Additional sub # 48.50
New member # 60.00 (min)
: #601.50
Club Website
Nick advised he was comfortable with updating the information
on the web site. The meeting expressed their thanks to Nick for
continuing with this role.
Fantasy Share Competition
The rules were circulated and the meeting agreed them as they
stood.
It was agreed that all interested players should send their 4
selections to Richard by 1/9/00. The #10 payment should be
provided at the next meeting (payable to GSIC for lodging in
the sundry cash account).
AOB
Andy Slinn proposed and Tim Bentley seconded a new member -
Pauline Naylor. Pauline's application was welcomed and
accepted - her membership is to be effective from 20/8/00.
The Treasurer was actioned to contact Pauline with a view to
arranging standing orders, obtaining full name & address
details etc.
Next Meeting
The next normal monthly meeting has been arranged for
Wednesday 6th September 2000 12:30 pm in Moseley's Arms function room.