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Meeting: |
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Held at: |
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17:15 – 18:45 |
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Prepared by |
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Chairperson: |
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Present: |
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Dave G |
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Adrian B |
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Kit P |
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Richard W |
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Apologies: |
Geoff O’F |
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Distribution: |
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Chairman’s Acceptance of Minutes |
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Signature |
Date |
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Monday 18th December between 17:15 and 19:00. Venue: The Brocklebank
The minutes from the monthly meeting of 16th October were accepted.
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Ref. |
Description & Progress |
Target Date |
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ALL/0927/01 |
Consider what information might be useful in a Monthly Report template. 1016: Richard to draft the template based
on the brainstorm conducted in AOB. 1115: DG to put the template onto the
website – see action DG/1115/01 |
CLOSED |
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KP/1016/01 |
Date
of Next Meeting to be placed at the top of the agenda |
CLOSED |
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CB/1016/02 |
Include
last month share price in the Treasurer’s Report. |
CLOSED |
See end of these minutes
See Full Report handed out separately by CB.
None.
No report produced as RW has lost the copy of who puchased what in the first month of the new Lucky Llama competition. DG stated that he had access to a copy of the email sent out by RW after the first round of llama selections so was actioned to send a copy back to RW.
AB was considering Aquarius Platinum based on a newspaper article about the company. RW stated that he may sell Royal Sun Alliance as they’d risen 10% since purchase and hadn’t yet been affected by flood related payouts but were likely to be soon. DG said that his mechanical selection for this month is Christian Salvesen.
All to send their picks for this month to RW by the end of Friday 17th November.
Monthly reports had been produced in accordance with RW’s template.
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Parity |
HOLD |
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Atlantic Caspian |
No report – taken as HOLD as purchase was speculative |
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ARM Holdings |
HOLD |
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Science Systems |
HOLD |
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Cable & Wireless |
HOLD/ADD |
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Tibbett & Britten |
HOLD |
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Templeton Emerging |
HOLD |
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Delta |
HOLD |
It was agreed that this section of the meeting would be unnecessary if the monthly reports covered stop losses. RW actioned to update template for Monthly Report so that Stop Losses could be covered.
DG said that he would submit buy proposals for David S Smith (SMDS) and Christian Salvesen (SVC). He had sent out draft versions today but they were not fully fledged buy proposals yet. When submitted, they should be considered at the next meeting.
The HOLD/ADD recommendation for C&W was discussed. It was agreed that there was no real need to prepare a new buy proposal form for an “Add” recommendation as long as the Monthly Report for that stock adequately covered the reasons. In this particular case the Monthly Report for C&W (see above) was adequate so no further documentation was thought necessary. After discussions about whether to accept the “Add” proposal, it was unanimously agreed that with a share price below £8, Cable and Wireless was good value. CB was actioned to purchase £800 of C&W shares provided that the ceiling price of £9 per share was not exceeded.
None.
The club won the Independent competition for October so will receive a cheque for £1000 in due course. Entry for the Mail on Sunday’s share of the month competition is Atlantic Caspian by default and that is what was submitted for November so we won’t win this month!!
Independent competition for November is B/Bear for utilities stocks – entries in by Friday 17th. Mirror competition was in today’s paper – DG will email details. Express competition should be in first Wed of each month but wasn’t in this time but DG will continue to look out for it.
Actions carried forward to next meeting
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Ref. |
Description & Progress |
Target Date |
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ALL/1016/03 |
Review links on Web site and send comments to Dave G about ‘why and what to look for on this link’. 1115: No progress though other updates to the web site (www.rsic.co.uk) have been made |
18/12/00 |
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ALL/1016/04 |
Send details of any new Annual Reports held to Dave G to allow update of Web site. 1115: No progress |
18/12/00 |
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KP/1016/05 |
Get the ProShare Web site password. 1115: No progress though DG has contacted ProshareClubs website
management to try to obtain a copy of the password details for the club. |
18/12/00 |
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DG/1115/01 |
Put the Monthly Report template and associate links onto the club website (but see also RW/1115/04 below) |
18/12/00 |
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DG/1115/02 |
Send the details of the 1st new llama selections back to RW so that a lucky llama report can be produced |
17/11/00 |
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CB/1115/03 |
Purchase £800 of Cable and Wireless shares but only if share price is <£9. |
18/12/00 |
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RW/1115/04 |
Update Monthly Report template to cover stop losses so that the Stop Loss Triggers section of the meeting can be dropped. |
18/12/00 |