Griffin Speculators Investment Club
Minutes of meeting held on Wed 3rd April 2002
Present: Nick Walch, Mike Bell, Ian Cosford, Andy
Slinn, Richard Poole, Keith Burbanks,
Apologies: Tim Bentley, Pauline Naylor, Paul Manning, John Kitch, Neil
Hogg
Previous Minutes:
Minutes of the monthly meeting of 6th March were approved.
Treasurer's Report:
The Treasurer reported the following figures :
HSBC : £493.82
Charles Schwab : £1038.86
Petty Cash : £ 0.55
Total : £1533.23
Less
Admin. Fund : £ -1.65
Fantasy Share : £ 90.00
Total : £1444.88
Net Assets : £7746.89
(80.37% of total current cash contributions since
inception)
Unit Price : £0.66
The Treasurer was asked to transfer £10.00 to cover the increased Proshare
membership fee of £34.50. Also £400 was transferred from HSBC to
Schwab.
Just Group now shows a selling price of Nil as they are in administration. The
treasurer was asked to remove the -12.00 net selling value as we will not need
to sell them.
Additional Investment
There were no applications to purchase additional units or increase monthly
subscriptions.
Current Portfolio:
| Stock | No | Purchase Price | Break Even Price | Stop-Loss | Target |
| Atlantic Caspian Ord 5p | 5079 | £496.92 | 10.02p | None | Track |
| Cadbury Schweppes | 426 | £1997.46 | 471.71p | 430p | Review |
| Chorion | 3948 | £991.07 | 25.41p | Suspended | Review Monthly |
| Envesta | 2000 | £83.45 | 4.78p | None | None |
| Games Workshop | 266 | £1499.11 | 580.09p | 530p | Target sell price 600p & track monthly |
| Just Group | 4965 | £545.42 | 11.23p | Suspended | Sell ½ at 20p |
| Lastminute.com | 35 | £132.72 | 413.49p | None | Track |
| Hilton Group | 500 | £1144.89 | 231.38p | 200p | Track |
| Quintain Estates | 403 | £699.48 | 176.55p | 190p | Track |
| Rage Software | 2176 | £599.99 | 28.13p | None | Review monthly |
It was reported that Chorion will be splitting into 2 separate companies on
May 17th.
This Months Investment Decision
After discussion the meeting agreed to hold on to all current holdings and:
· raise stop loss on Hilton to 200p
· raise stop loss on Quintain to 190p
Shares to watch next month
It was agreed to track prices for the shares to watch
| Share Price | March Price | April Price | May Price | June Price | |
| JD Wetherspoon | 365p | 385p | |||
| Wolverhampton & Dudley | 656.5p | 680p | |||
| Electronics Boutique | 142.75p | 143.75p | |||
| HBOS | 765.5p | ||||
| Safeway | 313.5p | ||||
| Tesco | 249.5p | 247.5p | |||
| JJB Sports | 388p |
AOB
Our AGM will be held on Wednesday 22nd May at 12.30pm in room 2. Please make
every effort to attend - it has to be quorate.
Members are requested to consider standing for officials posts next year.
Next Meetings
Wednesday 1st May 2002 at 12:30 pm in room 2 (12.30 -1.30)
Wednesday 22nd May 2002 at 12.30pm in room 2 (AGM) (12.30 - 2.00)
Wednesday 5th June 2002 at 12.30pm in room (12.30 - 1.30)
Wednesday 3rd July 2002 at 12.30pm in room 2
Wednesday 7th August 2002 at 12.30pm in room2
Please note your diaries with these meeting dates.