Griffin Speculators Investment Club

Minutes of Meeting held on Wednesday 3rd November 1999

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

Apologies: Tim Bentley, Neil Hogg.

Previous Minutes: The minutes of the meeting of 6th October were
approved.

Items Carried Forward : The following items are yet to be
resolved and so are carried forward:
Stop-Loss/Gain-Lock Mechanism
Emergency Meeting Procedures
Sectors
Evening meeting
How to build a larger pot (funds available for investment
that is!)


Treasurer's Report:

Treasurer reported the following figures :

Midland Bank : £398.30
Charles Schwab : £ 9.36
Petty Cash : £ 5.00

Tot : £412.66

Less
Admin. Fund : £32.00
Paid out to Richard
Dakin : £142.71
Amount Available
to Invest at meeting : £237.95

Net Assets : £2529.98
Unit Price : £0.83

Current Portfolio :

Stock No Valuation Decision

Tesco Ord 5p 291 £514.62 Hold
Marks & Spencer Ord 25p 279 £752.25 Hold
Alizyme Ord 2p 659 £182.70 Hold
Thornton Ord 10p 351 £672.96 Hold

Additional Investment:

An application to purchase an extra 100 units by Richard Poole
was unanimously carried.

An application to purchase an extra 100 units by Jon Kitch was
unanimously carried.

An application to purchase an extra 100 units by Andy Slinn was
unanimously carried.

An application to purchase an extra 100 units by Julia Smith was
unanimously carried.

Increased Monthly Subscription

Paul Manning has applied this month to increase his monthly
subscription by £10 to £20 effective from November 1999.


Investment Decisions:

The meeting decided to vote on 4 options.

Atlantic Caspian
African Lakes
Penny Share Guide - Artisan
Do Nothing

The meeting voted unanimousy to do nothing.

Proshare monthly Competition

No entry was proposed for this months entry.

Approximate Amount Available at next meeting:

Amount Available for
Investment This Month : £237.95
Plus
Additional Investment from A Slinn : + £83.00
Plus
Additional Investment from T Bentley: + £83.00
Plus
Additional Investment from I Cosford: + £83.00
Plus
Additional Investment from J Smith : + £83.00

Plus
Monthly Sub : + £310.00
: £880.00

Rule Change

It was agreed the Rule 12b, (Selling units) should be amended
along the lines of Rule 12g (Purchase of units) and now reads :

"A member wishing to sell back units shall give notice prior to
or at the monthly meeting of the club specifying the number of
units to be sold back. This notice may not be amended or
withdrawn after the meeting except in accordance with rule
12(f)."

Web Site

Nick Walch has registered a web name for the club -
www.griffin-speculators.co.uk

His proposal to put together a site for discussion and posting of useful information was warmly received.


Show Me The Money

Richard brought to our notice this television programme which is
broadcast every weekday lunchtime at 1:00 on Channel 4.

Tax Position on Dividends

Ian has agreed to clarify the tax position on dividends with the
Inland Revenue.

Thorntons Vouchers

The Thorntons vouchers were drawn after the meeting and the
meeting agreed that the unlucky members would have first call
next time.

Results:
£5-00 Paul Manning, Andy Slinn, Ian Cosford, Richard Dakin
£2-50 Graham Roy, Tim Bentley, Julia Smith, Dean Cunliffe
£1-00 Jon Kitch, Andy Taylor, Richard Poole, Nick Pollard.


Next Meeting:

Wednesday 1st December 1999 12:30 pm in Moseley's Arms function
room.