Griffin Speculators Investment Club

Minutes of Meeting held on Wed 12th January 2000

Present: Tim Bentley, Jon Kitch, Graham Roy, Richard Poole, Ian
Cosford, Dean Cunliffe, Nick Walch, Keith Burbanks, Paul Manning,
Andy Slinn, Nick Pollard, Andy Taylor.

Apologies: Julia Smith, Neil Hogg.

Previous Minutes: Minutes of the normal monthly meeting of 1st
December 1999 and interim meeting of 15th December 1999 approved.


Treasurer's Report:

Treasurer reported the following figures :

HSBC : £1007.83
Charles Schwab : £ 131.02
Petty Cash : £ 5.55

Tot : £1144.40

Less
Admin. Fund : £32.00
Amount Available
to Invest at meeting : £1112.40
(not including sales)

Net Assets : £3479.39
Unit Price : £0.81

Adoption of Stop Loss Policy

The meeting agreed to adopt the Stop-Loss policy formulated in
the interim meeting of 15December1999. The secretary will
incorporate the policy into the club's rules.


Current Portfolio :

Stock No Valuation Decision Stop-Loss

Tesco Ord 5p 291 £508.59 Hold 142
Alizyme Ord 2p 659 £317.50 Hold 32
Thornton Ord 10p 351 £598.74 Hold 166
Atlantic Caspian Ord 5p 5079 £394.32 Hold 6.5
Artisan 3328 £520.48 Hold 11


Additional Investment:

An application to purchase an extra 50 units by Keith Burbanks
was unanimously carried.

An application to purchase an extra 50 units by Ian Cosford was
unanimously carried.

An application to purchase an extra 100 units by Andy Slinn was
unanimously carried.

An application to purchase an extra 50 units by Paul Manning was
unanimously carried.

Showing past Profits/Losses on Treasurers report

The meeting agreed that it would be helpful if the treasurer
showed profits or losses for sold investments in his report.
These should be shown as assets of nil value but the profit/loss
entailed should be shown.


Investment Decisions:

The meeting decided to vote on following options :

Abbey National
Cable and Wireless
Do Nothing

The voting was as follows:

Abbey National 26
Cable & Wireless 23
Do Nothing 30

It was agreed therefore to invest £1000 in Cable & Wireless and
102 shares were bought at 956p.

A stop-loss of £7.65 (20%) is therefore recorded against this
stock.


Approximate Amount Available at next meeting:

Amount Available for
Investment This Month : £1112.00
Plus
Additional Investment from KB : + £40.00
Plus
Additional Investment from IC : + £40.00
Plus
Additional Investment from AS : + £80.00
Plus
Additional Investment from PM : + £40.00
Less
Cable & Wireless : - £1000.00
Plus
Monthly Sub : + £310.00
: £622.00

Proshare Seminar

Nick Walch and Andy Slinn have intimated an interest in
attending. Details are in the latest Proshare magazine page 10 -
cost approx £20.

III Floatation

Andy Slinn informed the club that Interactive Investor
International (III) is planning to float on the stock market
soon. The share offer will only be available to registered users.
Registration is free - so if you think there is something more
left in the internet balloon . . .


Evening Meeting:

The club agreed that an evening meeting would be beneficial and
would allow a more relaxed atmosphere to discuss outstanding
issues.

It was proposed therefore to hold a meeting at the Red Deer some
time before the next monthly meeting. Please email Paul Manning
with your preference/availability for day so that he can arrange.


Next Meeting:

The next normal monthly meeting has been arranged for Wednesday
2nd February 2000 12:30 pm in Moseley's Arms function room.