Griffin Speculators Investment Club

MINUTES

Griffin Speculators Investment Club

Minutes of meeting held on Wed 5th December 2001

Present: Ian Cosford (IC), Pauline Naylor (PN), Neil Hogg (NH), Andy Slinn (AS), Richard Poole (RP)

Apologies for Absence

Apologies: Paul Manning, Tim Bentley, Jon Kitch

Previous Minutes:

The following amendments were noted for the previous months minutes of 7th November:
Pauline Naylor was actually present at the meeting.
NH is also participating in the Fantasy Share competition.

Treasurer's Report:

The Treasurer reported the following figures :

HSBC : £669.42
Charles Schwab : £1337.97
Petty Cash : £ 20.55

Total : £2027.94

Less
Admin. Fund : £ 32.85

Total : £1995.09

Net Assets : £6802.70
(77.34%total current cash contributions since
inception)

Unit Price : £0.66

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  
Chorion 3948 20p None
Envesta 2000 None None
Just Group 4414 Suspended Sell ½ at 20p
Lastminute.com 35 None 64p
Hilton Group 500 160p Review April 2002
Quintain Estates 403 160p Track
Rage Software 2176 None Review Jan 2002
       

Last Minute.COM proposal progress

NW has found his share certificate and is to complete the stock transfer form and pass this to AS. This will take the holding to 175 shares, the minimum trade amount is £100, it was decided that a target should be set to sell these shares at this amount. Target price is therefore 64p - and there goes that pig past my window!!

This Months Investment Decision

After discussion the meeting agreed to hold on to all current holdings and:

· purchase £1500 worth of Games Workshop with a view to selling these at a profit in January/Februsry of next year.

Subsequent to the meeting 266 shares were purchased at £5.542

Shares to watch

The following stocks will remain on our consideration list:

Bloomsbury Publishing (RP)
Cable & Wireless (AS)
Electronics Boutique (NH)
HBOS (NW)

Fantasy Share League

All portfolios are now stored on the iii website

RP has sent the current standings out in a separate note.

AOB

RP suggested creating a 'minute taking rota' for the times when the secretary is unable to attend. In my capacity as minute taker this month I propose the following:

Michael Bell
Tim Bentley
Neil Hogg
Jon Kitch
Pauline Naylor
Andy Slinn
Nick Walch

The officials being exempt from this list.

Next Meeting

Wednesday 9th January 2002 at 12:30 pm in Room 12.