ATTENDEES

KEITH SAWYER – CLUB CHAIRMAN

MARTIN SADLER- CLUB TREASURER

BRIAN HOUGH

HASSAN KADIR

KEITH NORRIS

DENNIS MORDEN

STEVE GROSCH

STAN KINGSTON

Apologies from absent members.

TREASURERS REPORT.

A yearly statement was handed to attendees of the AGM showing the club assets, including a break down of profit/ loss on share dealing plus dividends.

Attendees agreed that the annual report was a true and accurate account as to the financial status of the Colombo Investment Club.

Club Chairman Keith Sawyer, nominated by Martin Sadler, seconded by Dennis Morden.

Club Treasurer Martin Sadler, nominated by Keith Sawyer, seconded by Hassan Kadir.

Club Secretary Peter Coles , nominated ( In his absence ) by Martin Sadler, seconded by Stan Kingston.

No other candidates stood for election and no contentions to nominated persons, people as above now in post for the next year.

Customer Champion

It was discussed and agreed that should a customer champion see any dramatic rise/ fall in share price then a call to either Martin Sadler or Keith Sawyer would be in order and a sale could be made to limit the loss or to realise a profit, enabling the club to react quicker to the market trends.                                                                                                     It was agreed that this would be of benefit to the club and the power to do this granted also it was agreed that the club should work a rolling 25% loss clause.

Next Purchase/ Existing Shares

Existing shares to stay the same ( No sale of shares at this meeting)

It was agreed a new purchase would be made this month and five companies were put forward:-

Tesco’s, W.H. Smiths, Boots, Baltimoore and Kingfisher.

Tesco’s had the majority vote, so do your shopping early before we bring them to their knees. Tesco’s champion would be Hassan Kadir.

The voting format was changed so as the Chairman could vote on share issues only if needed on the second vote would he have the casting/ deciding vote.

Any Other Business

Revision of rules:-

Members at the meeting voted for the club to be no larger than 12 persons, 7 at the meeting carried the vote.

Also that the £26 a month should continue and any monies accrued after all expenses taken into consideration could be used for the purchase of shares or a Christmas get together, to be agreed at a later date.

Next meetings dates to be advised.

No other issues.

Meeting concluded 19:50 (Off to the bar)