MINUTES OF 1ST MEETING

Keith Sawyer Club Chairman

Martin Sadler Club Treasurer

Peter Coles Club Secretary

Introduction & Conformation of officers

Club officers confirmed ..

    Keith Sawyer proposed vic office sould be elected this was seconded by Peter Coles ….From attendees Hassan Kadir & Garry Chaplin have put themselves forward for election .

Please can any other interested parties make themselves known to the club members for election at the next meeting …

Outline of club & confirm who will join

Martin Sadler has set-up the club bank account & is in the process of setting up the dealer account with the backing of Keith Sawyer & Peter Coles who all have been named on the accounts to carryout all dealing ie deposits, withdrawals, buying & selling. No objections were made for these officers to carry out these tasks ..

Members have also agreed to set up their own e-mail address for sole club use & agreed to use e-mail from Yahoo ..Address to be in the format of :- NAME @YAHOO.CO.UK..

Please can all members set this e-mail up & pass the details on to the club chairman before the next meeting.

All members named and confirmed their acceptance to join.

Keith Sawyer Club Chairman

Martin Sadler Club Treasurer

Peter Coles Club Secretary

Acceptance of club rules & constitution

All members have accepted the club rule & constitution with changes set out below from original rules sent out before inaugural meeting:-

Rule 1 & 2 no change

Rule 3 .. 6 meetings including AGM will be held each year

Rule 4 .. club membership shall not exceed 12 persons at any time

Rule 5 & 6 no change

Rule 7 .. joining fee set at £200

Rule 8 .. a) subscription of £26 per month has been set .

new b) £1 was added to subscription to cover running costs.

b) moved to c)

c) moved to d)

d) moved to e)

Rule 9 .. club assets to be valued by treasurer & presented on the club web site .

WEBSITE IS :- http://www.colomboinvestments.co.uk

Rule 10 no change

Rule 11 .. resignation to be presented not less than 7 days before the next meeting to club officers

. If leaving the club occurs within 2 years of joining the member will forfeit the joining fee of

£200 plus the dealing costs .

Rule 12 .. the purchasing of additional units will be reviewed in 12 months .

Rule 13 no change

Rule 14 a)c) no change

b) club accounts shall require 1 of the authorised signatures.

Rule 15 a) only 3 named officers are authorised ……….

b)c) no change

Rule 16 ,17,18,19,20 & 21 no change .

Setting joining fee & monthly subscription

Members agreed starting fee £126 paid at inaugural meeting .

£126 to be paid at or before 2^nd meeting .

Standing orders for all members to be set up for the 1^st June for £26 which usually clear within 4 working days ..

Spending the money

Members have agreed to structure our investments in roughly the

following percentages

40% in top 100

40% in top 250

20% others .

Members have agreed to buy shares in Vodafone £1000 ,Tesco £400 & Alders £100. These hoefully will be purchased within the next 10 days once funds are cleared and share account opened.

Keith Sawyer has set up a portfolio to monitor the progress .The web site is :-

www.moneyworld.co.uk/ login is colombo & password is donor40 ..

2 portfolios are on this site

1) agreed shares

2) suggested share to buy with next subscription ..

Any other business

None raised .

Date of next meeting

1^st May 2000 lunchtime ..