Meeting:	Monthly Meeting - May 2001
Held at:	The Brocklebank		Date:		15^th May 2001
			Time:		17:15 – 18:45
Prepared by		Kit P
Chairperson:	Richard W
Present:	Chris B
	Richard W
	Dave G
	Kit P
Apologies:	Geoff O’F Adrian B
Distribution:	As above
Chairman’s Acceptance of Minutes
_____________________________________________				____ / _____ / ____
Signature				Date

1. NEXT MEETING

Monday 18^th June

16:00 - 21:00 to allow Strategy Review

Venue: The Brocklebank

2. Minutes of previous meeting

The minutes from the last monthly meeting were accepted subject to minor revisions.

3. ACTIONS FROM PREVIOUS MEETING

3.1 Actions Closed Since Last Meeting

Ref.	Description & Progress	Target Date
DG/0425/03	Send out additional information on BLICK when received	COMPLETED

3.2 Actions Carried forward to Next Meeting

See end of these minutes

4. Treasurer’s Report

4.1 Report Summary

C&W fell, all other holdings showed +ve movement. Net Asset value £12,783, +£147.

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

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

Parity (AB)	Apologies – HOLD – NWS
Atlantic Caspian (DG)	Apologies – HOLD – NWS
Cable & Wireless (KP)	Apologies -8.9% compared to sector position of +0% - HOLD awaiting results due 16/5.
Tibbett & Britten (DG)	+2.5% compared to sector position of +2.5% - HOLD
Templeton Emerging (CB)	+18% compared to sector +0.8% - HOLD
Delta (?)	Apologies – +10% - HOLD for more gains
Headlam (?)	Apologies – +7.5% - HOLD – Star performer

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 his Buy Proposal for BLICK again.

Context from 0425 “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“.

Answers were discussed and generally viewed well. The meeting voted to ACCEPT the Proposal, and to purchase £1,000 of BLK.

6.3 Sell Proposals

None

7. Competitions

No wins this period…

8. AOB

None

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 0515: No progress	18/06/2001
KP/0425/01	Find Llama 0515: No progress	18/06/2001
CB/0425/02	Update Direct Debit to reflect RW revised contribution 0515: No progress	18/06/2001
DG/0515/01	DG to summarise ProShare seminar	18/06/2001
CB/0515/02	Purchase BLICK	18/06/2001

Proposed agenda for NEXT meeting.

RSIC Monthly Meeting - Monday 18^th June between 16:00 and 21:00

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. STRATEGY REVIEW

9. AOB