Griffin Speculators Investment Club
Minutes of meeting held on Wednesday 10th January 2001
Present : Ian Cosford, Keith Burbanks, Richard
Poole, Andy Slinn,
Neil Hogg, Nick Walch, Jon Kitch, Pauline Naylor, Dean Cunliffe, Andy Taylor
Apologies : Paul Manning, Graham Roy, Tim Bentley,
Mike Bell
Previous Minutes
Minutes of the last monthly meeting of 6th Dec 2000 were approved
apart from the omission of an additional 551 Just Group shares issued to club
in November 2000 which were not included in current portfolio figures.
Treasurers Report
The treasurer reported the following figures :
HSBC 1354.21
Charles Schwab 216.62
Petty Cash 10.55
------------
*Total 1581.38
Less Admin Fund 27.85
Amount available to 1553.53
invest at meeting
(not including sales)
Net Assets 6932.89
Unit Price 82p
(90.08% of total current cash
contributions since inception)
*N.B. £200 to be deducted from balance. = Fantasy share competition
funds included in the above figures, which are not available for investment.
Additional Investment
There were no applications to increase monthly subscriptions
Tim Bentley applied to purchase an additional 100 units
Ian Cosford applied to purchase an additional 100 units
Pauline Naylor applied to purchase an additional 50 units
All applications were approved
Current Portfolio
| Stock |
No |
Valuation |
'Owner' |
Stop-Loss |
Target |
| Alizyme |
960 |
£1216.51 |
(RP) |
90p |
Sell ½ at 250p |
| Artisan |
6270 |
£740.40 |
(NW) |
10p |
Sell ½ at 30p |
| Atlantic Caspian Ord 5p |
5079 |
£89.58 |
(GR) |
None |
Sell ½ at 20p |
| Cable & Wireless Ord 25p |
102 |
£977.40 |
(RP) |
804p |
Review Jan 2002 |
| Envesta |
52 |
£0.00 |
(NW) |
None |
None |
| Just Group |
4414 |
£285.90 |
(RP) |
6p |
Sell ½ at 20p |
| Lastminute.com |
35 |
£10.75 |
(NW) |
None |
Cover selling costs |
| National Grid |
186 |
£1102.14 |
(IC) |
400p |
Review Jan 2002 |
| Quintain Estates |
403 |
£729.52 |
(NH) |
130p |
Review July 2001 |
| Rage Software |
2176 |
£205.60 |
(AS) |
None |
Review July
2001 |
| |
|
|
|
|
|
After discussion the meeting agreed to hold on to all current
holdings. Amendments in bold above.
Offer for additional shares in Envesta to be taken up.
Composition of Portfolio/Stop Loss Policy
Discussed and agreed that we learn from the previous 12 months
experiences and not to be too self critical of what was a bad year for
many investors. Stop loss policy is in place for each share and we are
now a lot wiser.
Graham Roy v This month's Investment Decision
Keith B to write again to Graham Roy to request a firm decision from
him before the end of January 2001 re his committment to the club. If
he wishes to remain a member then we need to know that he has a
genuine interest in proceedings. Perhaps he still has an interest but
we simply do not know !!
If he chooses to remain with us then we will be more than pleased to
keep him on board, but each month we are naturally nervous as he does
hold a large, ever increasing, number of units.
This uncertainty is currently impacting on each and every monthly
investment decision.
Decision still made this month to invest £1,250 in Bank of Scotland.
Purchase made = 171 shares @ 716.50
Membership
Mike Bell application to join the club was unamimously approved to
take immediate effect.
Initial joining fee and 1st month's subscription received.
AOB
Orange are in the process of launching a new issue and details can be
obtained from
www.orangeshareoffer.com
Next Meeting
Wednesday 7th February 2001 1230 Moseley Arms