Griffin Speculators Investment Club
Minutes of meeting held on Wed 4th September 2001
Present: Paul Manning, Nick Walch, Tim Bentley,
Andy Slinn, Richard Poole, Pauline Naylor, Jon Kitch, Keith Burbanks, Neil Hogg.
Apologies: Mike Bell, Ian Cosford
Previous Minutes:
Minutes of the monthly meeting of 1st August were approved.
Treasurer's Report:
The Treasurer reported the following figures :
HSBC : £683.07
Charles Schwab : £3587.78
Petty Cash : £ 20.55
Total : £4291.40
Less
Admin. Fund : £ 32.85
Fantasy Port Comp : £100.00
Total : £4158.55
Net Assets : £6541.17
(81.30% of total current cash contributions since
inception)
Unit Price : £0.71
Additional Investment
There were no applications to purchase additional units or increase monthly
subscriptions.
Current Portfolio:
| Stock | No | Valuation | 'Owner' | Stop-Loss | Target |
| Atlantic Caspian Ord 5p | 5079 | TBC | (GR) | None | Sell ½ at 15p |
| Envesta | 52 | TBC | (NW) | None | None |
| Just Group | 4414 | TBC | (RP) | Suspended | Sell ½ at 20p |
| Lastminute.com | 35 | TBC | (NW) | None | Cover selling costs |
| Hilton Group | 500 | TBC | (NH) | 210p | Review April 2002 |
| Quintain Estates | 403 | TBC | (NH) | 180p | Track |
| Rage Software | 2176 | TBC | (AS) | None | Review Jan 2002 |
This Months Investment Decision
After discussion the meeting agreed to hold on to all current holdings and:
· purchase £2000 worth of Cadbury Schweppes shares
· suspend stop loss on Just 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
Chorion
Games Workshop
Halifax
Warner Bros
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. Richard to organise.
Neil will circulate suggested text to send to prospective new members with accompanying
note.
Jon will cover for Paul prior to next meeting. Request for agenda items/proposals
needs to be sent 24/9/01.
Next Meeting
October monthly meeting Wednesday 3rd 2001 at 12:30 pm in Room 2