Minutes of January 2001 meeting
COLOMBO INVESTMENTS DATE :22nd January 2001
AUTH : Peter Coles
| ATTENDEES MARTIN SADLER - Club Treasurer , PETER COLES - Club Secretary GARRY CHAPLIN KEITH NORRIS BRIAN HOUGH STAN KINGSTON APOLOGIES KEITH SAWYER - Club Chairman , HARRY ORANIN HASSAN KADIR STEVE GROSCH DENNIS MORDEN MITESH PATADIA TREASURERS REPORT All shares are down at present. Alders were sold at £1.05 giving a profit after dealing costs of £4.50 plus dividends of £8.50. Tesco were also sold last year & profits were used to buy Psion. The current balance of the clubs account is & £750.00. SHARE CHAMPIONS We need members to start taking up roles of share champions with the expansion of our portfolio. At present Vodafone & Psion are championed by Martin .With BT it has been agreed as we all have a very high interest in them no champion is required . Garry has volunteered to champion Car Phone Warehouse. BUY SELL OR HOLD We still require to set targets to make a clear line for profit taking . How much increase per holding? ie10-20% before we sell. Agreed at present to hold all share due to low/non-existent profit.
CURRENT HOLDINGS as of 22/1/01 paid worth BT :- £1031 £1006 Cube8 :- £165 £25 Vodafone :- £980 £745 Psion :- £1967 £1220 Car Phonew/house:- £1000 £930 NEXT PURCHASE PROPOSED Royal Bank of Scotland, Hays, Vodafone, Orange, Lloyds / TSB, Bradford & Bingley Bank. AFTER DISCUSSION Orange was put down as a possible buy depending on the price & only if we sell BT or Car Phone Warehouse if they come into profit . Royal Bank of Scotland & Hays, were then discussed & removed from the vote leaving members to vote on Lloyds/TSB, Vodafone & Bradford & Bingley Bank. Bradford & Bingley Bank was agreed to be bought in February when our account balance will be over £1000. FUTURE MEETING VENUE Attending members agreed meeting in the Waterloo area would continue due to ease of travelling. The venue will be either the Rose & Crown or the Prince William Henry depending on the result of Garry talking to the landlord of Prince William Henry. ALL ATTENDING MEMBERS AGREED THAT FOR FUTURE MEETINGS 3 DATES WILL BE GIVEN & THE MAJORITY NUMBER OF MEMBERS THAT CAN ATTEND ON ANY 1 OF THESE DATES WILL BE THE DATE USED .THOSE MEMBERS THAT AGREED ON THE DAY CHOSEN SHOULD ATTEND UNLESS THERE ARE EXTREEM CERCAMSTANCES WHICH MAKE IT IMPOSIBLE .THIS WILL GIVE ALL MEMBERS A CHANCE OF ATTENDING MEETINGS. ANY OTHER BUSINESS Pro-share fees due April £29.99 leaving approx £72.00 in the club running cost fund. It was proposed that if in agreement by all members we will pay another lump sum of £100.00 to boost the clubs buying power. All attending members have agreed to this & the rest of the members will be contacted by the Chairman Keith to confirm result & if in full agreement the fee will be required by April. |
