Griffin Speculators Investment Club
Minutes of meeting held on Wed 3rd October 2001
Present: Paul Manning, Nick Walch, Mike Bell, Ian
Cosford, Andy Slinn, Richard Poole, Jon Kitch, Neil Hogg.
Apologies: Keith Burbanks, Tim Bentley
Absent: Pauline Naylor
Previous Minutes:
Minutes of the monthly meeting of 5th September were approved.
Treasurer's Report:
The Treasurer reported the following figures :
HSBC : £889.34
Charles Schwab : £1537.94
Petty Cash : £ 20.55
Total : £2447.83
Less
Admin. Fund : £ 32.85
Total : £2414.98
Net Assets : £6033.97
(72.73% of total current cash contributions since
inception)
Unit Price : £0.63
Additional Investment
There were no applications to purchase additional units or increase monthly
subscriptions.
Current Portfolio:
| Stock | No | Stop-Loss | Target |
| Atlantic Caspian Ord 5p | 5079 | None | Sell ½ at 15p |
| Cadbury Schweppes | 426 | 400p | |
| Envesta | 52 | None | None |
| Just Group | 4414 | Suspended | Sell ½ at 20p |
| Lastminute.com | 35 | None | Cover selling costs |
| Hilton Group | 500 | 160p | Review April 2002 |
| Quintain Estates | 403 | 160p | Track |
| Rage Software | 2176 | None | Review Jan 2002 |
This Months Investment Decision
After discussion the meeting agreed to hold on to all current holdings and:
· purchase £1000 worth of Chorion shares (subsequent to meeting 3932 Chorion
Ord 1p shares bought at 24.9p per share plus £12 commission)
· adjust stop loss on Cadbury Schweppes, Quintain Estates and Hilton Group
Shares to watch
A discussion was held on the merits of a number of shares that were currently
being monitored by members. These will be included as a separate agenda item
each month forming the basis of the proposals each month (although additional
shares can be considered each month on merit). Shares to consider next month
are:
Boots
Games Workshop
HBOS
Last minute.com
Nick Walch confirmed that we were unable to sell our aggregated holding via
the internet as this was valued at below the minimum required value. Nick was
actioned to ascertain the minimum value. We would then consider our options,
probably sell when minimum value reached.
AOB
Richard advised that the fantasy share league had finished. Results to be advised
separately. Proposal will be to run again from next month. Please refer to Richard's
separate e/mail.
Nick Walch to chase up communication to other Sheffield investment club who
approached us.
Ian Cosford to transfer £800 from bank account to Charles Schwab.
Useful free website at www.ft.ar.wilink.com
Next Meeting
November monthly meeting Wednesday 7th 2001 at 12:30 pm in Room 2.