Griffin Speculators Investment Club
Minutes of meeting held on Wed 6th December 2000
Present: Jon Kitch, Paul Manning, Nick Walch,
Richard Poole, Ian
Cosford, Pauline Naylor, Keith Burbanks, Neil Hogg,
Apologies: Dean Cunliffe, Andy Slinn, Tim Bentley,
Andy Taylor, Graham Roy.
Previous Minutes:
Minutes of the last monthly meeting of 1st November 2000 were approved.
Treasurer's Report:
The Treasurer reported the following figures :
HSBC : £825.95
Charles Schwab : £215.68
Petty Cash : £ 0.55
Total : £1042.18
Less
Admin. Fund : £ 17.85
Amount available to
to Invest at meeting : £1024.33
(not including sales)
Net Assets : £6740.64
(94.03% of total current cash contributions since
inception)
Unit Price : £0.86
Additional Investment
There were no applications to increase monthly subscriptions.
Nick Walch applied to purchase an additional 100 units.
Jon Kitch applied to purchase an additional 100 units.
Keith Burbanks applied to purchase an additional 50 units.
Ian Cosford applied to purchase an additional 50 units.
All applications were approved.
Current Portfolio:
| Stock | No | Valuation | 'Owner' | Stop-Loss | Target |
| Alizyme | 960 | £1254.53 | (RP) | 90p | Sell ½ at 250p |
| Artisan | 6270 | £928.50 | (NW) | 10p | Sell ½ at 30p |
| Atlantic Caspian Ord 5p | 5079 | £140.37 | (GR) | None | Sell ½ at 20p |
| Cable & Wireless Ord 25p | 102 | £943.74 | (RP) | 804p | Review Jan2001 |
| Envesta | 52 | £0.00 | (NW) | None | None |
| Just Group | 4414 | £335.55 | (RP) | 6p | Sell ½ at 20p |
| Lastminute.com | 35 | £15.65 | (NW) | None | Cover selling costs |
| National Grid | 186 | £1117.02 | (IC) | 400p | Review June2001 |
| Quintain Estates | 403 | £652.95 | (NH) | 130p | Review Jan 2001 |
| Rage Software | 2176 | £314.40 | (AS) | None | Review Jan 2001 |
After discussion the meeting agreed to hold on to all current holdings.
This Months Investment Decision
The meeting did not consider any purchase nor disposal recommendations this
month and agreed that the best policy would be to build up funds for a couple
of months that could then be used to fund a subsequent larger purchase.
Estimated Amount Available at next meeting:
Amount Available for
Investment This Month : £1024.33
Plus
Monthly Sub : £270.00
Additional investments : £258.00
AMOUNT AVAILABLE TO INVEST : £1552.33
AOB
Andy Slinn and Nick Walch were actioned to provide some feedback from the
Proshare investment seminar at the next meeting.
Concern was expressed about not hearing from Graham for a while despite e/mails
and attempted phone calls to last known number. It was agreed that unless
we received positive news from Graham that he wished to continue by the next
meeting we would reluctantly have to assume he was no longer interested and
make steps to buy out his membership.
Paul and Keith agreed to make further attempts to contact Graham this month
by e.mail.
Nick advised on a web site where you could obtain a free sample of certain
Investment Newsletters.
www.financial-freebies.com
Next Meeting
The next normal monthly meeting has been arranged for Wednesday
10th January 2001 at 12:30 pm in Moseley's Arms function room.