Griffin Speculators Investment Club

Minutes of Meeting held on Wed 3rd May 2000

Present: Jon Kitch, Graham Roy, Richard Poole, Nick Walch,
Nick Pollard, Andy Taylor, Paul Manning, Neil Hogg, Andy Slinn, Ian
Cosford, Dean Cunliffe, Keith Burbanks.

Apologies: Tim Bentley, Julia Smith.

Previous Minutes: Minutes of the monthly meeting of 5th April
2000 were approved.

Treasurer's Report:

Treasurer reported the following figures :

HSBC : £1035.21
Charles Schwab : £1411.89
Petty Cash : £ 0.55

Tot : £2447.65

Less
Admin. Fund : £62.00
Amount due to
Julia Smith : £341.77
Amount Available
to Invest at meeting : £2043.88
(not including sales)

Net Assets : £5777.84
(107.70% of total current cash contributions)

Unit Price : £0.97

Resignation of Julia Smith

The meeting was sorry to accept the resignation of Julia.

Current Portfolio :

Stock No Valuation Decision Stop-Loss
@ 2/5/2000

Alizyme 854 £953.02 Hold -
Cable & Wireless Ord 25p 102 £1052.88 (RP) Hold -
Atlantic Caspian Ord 5p 5079 £394.32 (GR) Hold -
Artisan 6270 £865.80 (NW) Hold -
Lastminute.com 35 £70.95 (NW) Hold
-


Additional Investment:

No applications were received to purchase any extra units or
to increase monthly subscriptions.


Changes to Rules:

The meeting agreed to amend the rules with regard to date of
receipt of subscriptions as follows :

Subscriptions
. . . . shall be paid into the club's bank account by all
members on or before the final day of each month . . .

Bond

The decision to invest in a bond was discussed but it was
agreed to discuss this further at the AGM.

Current Portfolio

The meeting agreed to hold on to all current holdings.

This Months Investment Decision

The vote was as follows

Do Nothing 23
National Grid 20
Unilever 40.5
London Pacific Group 36.5

It was decided therefore to invest £1000 in National Grid.

186 shares were bought at a price of 527.5 total cost £998.06.

Stop-Loss Policy

The meeting agreed that it was necessary to resolve the
outstanding Stop-Loss issue and it will be tabled as an agenda
item for the AGM.

AGM Food

The meeting agreed that a buffet will be ordered for the AGM
to be paid for from club funds, subject to price. Paul to
arrange.

Stop Press - Buffet ordered, cost £35 (sandwiches, chicken,
chips and dips etc.).

Estimated Amount Available at next meeting:

Amount Available for
Investment This Month : £2044.00
Less
National Grid : - £1000.00

Plus
Monthly Sub : + £290.00

: £1334.00

Proshare Competition

Surprisingly, Atlantic Caspian was selected for this months
competition - well well!

Next Meeting:

AGM Tuesday 23rd May 2000 at the Red Deer at 5:30 pm. (please
note that time differs from original notice).

The next normal monthly meeting has been arranged for
Wednesday 7th June 2000 12:30 pm in Moseley's Arms function room.