Meeting:	Monthly Meeting - April 2001
Held at:	The Brocklebank		Date:		25^th April 2001
			Time:		17:15 – 18:45
Prepared by		Kit P
Chairperson:	Geoff O’F
Present:	Adrian B
	Richard W
	Dave G
	Kit P
	Geoff O’F Chris B
Apologies:	None
Distribution:	As above
Chairman’s Acceptance of Minutes
_____________________________________________				____ / _____ / ____
Signature				Date

1. NEXT MEETING

Tuesday 15^th May between 17:15 and 19:00. Venue: The Brocklebank

Monday 18^th June between 17:15 and 19:00. Venue: The Brocklebank

2. Minutes of previous meeting

The minutes from the last monthly meeting were accepted.

3. ACTIONS FROM PREVIOUS MEETING

3.1 Actions Closed Since Last Meeting

Ref.	Description & Progress	Target Date
CB/0315/01	Sell ARM	Completed
DG/0315/02	Renew ProShare subscription	Completed

3.2 Actions Carried forward to Next Meeting

See end of these minutes

4. Treasurer’s Report

4.1 Report Summary

ARM Holdings sold.

See Full Report handed out separately by CB.

4.2 Matters Arising From Report

Objective now is to decide on our options given the current cash pile. The meeting agreed to have an extended monthly meeting in June to discuss this matter.

5. Lucky Llama competition

RW apologised that the Report was not available.

All to send their picks for this month to RW by the following Sunday evening.

6. PORTFOlio Management

6.1 Monthly Reports and Recommendations

Most monthly reports had been produced in accordance with RW’s template.

Parity (AB)	-26% compared to sector position of –28% HOLD – not worth selling
Atlantic Caspian (DG)	HOLD – not worth selling
Cable & Wireless (KP)	Apologies – UP - HOLD
Tibbett & Britten (DG)	-2.7% compared to sector position of –1.6% HOLD – not worth selling
Templeton Emerging (?)	-16% (attributed to US economy) compared to sector +6% - HOLD – not worth selling
Delta (?)	Apologies – DOWN - HOLD
Headlam (?)	Apologies – UP with some +ve press – HOLD

6.2 Stop Loss Triggers

This section of the minutes will be removed once stop losses are added to the monthly report template.

6.3 New Buy Proposals

DG presented a Buy Proposal for BLICK. Fundamentals appear good - tipped as a recovery stock @ price of 220 with an expectation of price 350. DG is awaiting answers to questions posed to BLICK Company Secretary.

6.3 Sell Proposals

None

7. Competitions

Missed the Mirror. Independent entered. Express competition seems to have died.

8. AOB

DG summarised some of the interesting points that arose at the ProShare seminar on Sunday. These included a number of interesting Web sites, some ideas about Club meeting protocol (lateness fines, social contributions) and some improvement suggestions (structured learning briefings).

DG also noted that Jan from ProShare had canvassed him for Competition ideas.

Actions carried forward to next meeting

Ref.	Description & Progress	Target Date
RW/1115/04	Update Monthly Report template to cover stop losses triggers section (and other enhancements) of the meeting can be dropped. 1218: No progress 0118: No progress 0222: No progress 0315: No progress 0425: No progress	05/05/2001
KP/0425/01	Find LLama	15/05/2001
CB/0425/02	Update Direct Debit to reflect RW revised contribution	15/05/2001
DG/0425/02	Send out additional information on BLICK when received	15/05/2001

Proposed agenda for NEXT meeting.

RSIC Monthly Meeting - Tuesday 15^th May between 17:15 and 19:00

Venue: The Brocklebank

0. Date of Next Meeting (4 mins)
[Agree a date for the next meeting]

1. Agenda Changes? (2 mins)
[Any items for AOB or any suggested reordering of agenda?]

2. Minutes of last meeting (1 min)
[Any comments on minutes from previous meeting

3. Actions from last meeting (20 mins)
[Progress on actions]

4. Treasurer's Report (10 mins)

5. Lucky Llama Competition (10 mins)
[Latest positions and any new buy/sell decisions]

6. Portfolio Management (30 mins)
6.1 Monthly Report for each Company in Portfolio
6.2 Stop Loss Triggers (if any)
6.3 New Buy Proposals
6.4 Sell Proposals

7. Competitions (10 mins)

8. AOB