Griffin Speculators Investment Club
Minutes of meeting held on Wednesday 4th July 2001
Present: Michael Bell, Ian Cosford, Jon Kitch,
Richard Poole, Nick Walch, Andy Slinn.
Apologies: Tim Bentley, Keith Burbanks, Neil Hogg,
Paul Manning, Pauline Naylor
Previous Minutes:
Minutes of the monthly meeting of Wednesday 6th June 2001were approved.
Treasurer's Report:
The Treasurer reported the following figures :
HSBC : £692.99
Charles Schwab : £816.44
Petty Cash : £ 10.55
Total : £1519.98
Less
Admin. Fund : £ 32.85
Fantasy Port Comp : £100.00
Total : £1387.13
Net Assets : £6502.53
(86.17% of total current cash contributions since
inception)
Unit Price : £0.76
Additional Investment
There were no requests to purchase additional units.
Several members indicated a wish to increase their Standing Order subscriptions
at the last meeting. For those that have been unable to do so, please arrange
new payments to take effect from next meeting.
Current Portfolio:
| Stock | No | Valuation | 'Owner' | Stop-Loss | Target |
| Atlantic Caspian Ord 5p | 5079 | £38.79 | (GR) | None | Sell ½ at 15p |
| Bank of Scotland | 171 | £1361.09 | (PM) | 800p | Review 0102 |
| Envesta | 52 | £4.55 | (NW) | None | None |
| Just Group | 4414 | £484.50 | (RP) | 8p | Sell ½ at 20p |
| Lastminute.com | 35 | £3.05 | (NW) | None | Cover selling costs |
| National Grid | 186 | £1038.90 | (IC) | 510p | Review Jan 2002 |
| Cable and Wireless | 188 | £847.16 | 420p | ||
| Hilton Group | 500 | £1197.90 | 190p | ||
| Quintain Estates | 403 | £785.94 | (NH) | 180p | Review July 2001 |
| Rage Software | 2176 | £140.32 | (AS) | Review July 2001 | |
This Months Investment Decision
After discussion the meeting agreed to hold on to all current holdings and:
· raise Bank of Scotland gain lock to 800p
· raise National Grid Stop Loss to 510p
· raise Hilton Group stop loss to 200p
· Track Quintain Estates rather then set a review date
· Review Rage Software Jan 2002
Last minute.com
Andy Slinn will work diligently to sell these.
This months Investment Decisions
Buy nothing, sell nothing, do nothing.
Lessons to be learnt ……………………………
Brief discussion was held and yes there probably were some lessons to be learnt.
Company Share Perks
Andy Slinn circulated a document listing shareholder perks offered by a number
of companies. For absentees a copy will be posted.
The Complete Investor
Andy Slinn offered to register an interest on the Club's behalf.
AOB
· Andy Slinn will chase Schwab to ensure they have latest GSIC Trader Names.
· Andy Slinn has requested brochures from Hargreaves Lansdown Stockbrokers Ltd,
to see what services they offer investment clubs.
· Agreed to transfer £500 from HSBC to Charles Schwab.
· Cadbury Schweppes was suggested as a potential future proposal for next month,
so if anybody comes across any info tips etc etc please bring to next meeting.
· Likewise Chorion was also suggested, so again any tips or info please bring
to next meeting.
Next Meeting
August monthly meeting Wednesday 1st August 2001 in meeting room 2.