COLOMBO INVESTMENTS
AGM MEETING @ ROSE & CROWN
TUESDAY 04/05/04 18:00
MINUTES
ATTENDEES: -
Keith Sawyer – Chairman
Martin Sadler – Treasurer
Peter Coles - Secretary
Stan Kingston – Tax Officer
APOLOGIES: - Garry Chaplin, Harry Oranin, Hassan Kadir, Mitesh Patadia, Keith Norris, Brian Hough, Steve Grosch & Dennis Morden.
Chairman’s Statement: -
Welcome to all that could attend at this years AGM. The year has seen an upturn in our clubs share value with the help of share dividends & top up deals we’ve had.Treasurers Statement: -
From this time last year the clubs value was £5946.00 today we have a value of £12,857 this added to money in our account & total dividends of £320 gave us assets of approx. £13,500.Tax Officer Statement: -
Not a lot to report on any tax changes or implementations. The tax statements will be issued to members shortly approx. £6 per member.
IS THE CLUB BEING RUN TO YOUR SATISFACTION?
All present agreed they were satisfied with how the club was being run & confirmed their trust in Martin in running the account & that they were true & well managed as seen from the portfolio. THANK YOU MARTIN.
If there are any problems or suggestions any club member has Please do not hesitate to talk to the Chairman or any other Office.
Election of Club Officers: -No opposition was give to the current officers re-standing for another year so they were proposed, seconded & agreed the continue in office for another year Thanks to all.
Statements of Accounts & What To Do
SHARE |
TOTAL HELD | AV PRICE PAID |
COST |
CURRENT VALUE |
LOSS / GAIN |
VOTED ON |
| BP | 176 | £5.62 | £989.18 | £876.04 | -£113.14 | Good regular Dividends. Hold |
| BT | 3585 | £2.04 | £7,320.99 | £6,354.41 | -£966.58 | After 7
buy’s & 1 sell + dividends We’re slowly getting there. Possible sell |
| CPW | 1544 | £1.57 | £2,430.92 | £2,207.92 | -£223.00 | 2 Buys good Hold |
| LLOYDS | 520 | £4.64 | £2,411.52 | 2,194.40 | -£217.12 | Good dividends
18p. 2buys. Hold |
| All Marconi |
Admit defeat Sell all |
|||||
| PSION | 1370 | £1.92 | £2,631.22 | £739.80 | -£1891.41 | 3 buys &
still no dividends. Possible sell in 6 months |
| AZURE | 1 | £1.65 | £165.00 | £00.005 | £164.995 | Write share
off Martin to get advice from share dealers. |
| Vodafone | 323 | £3.03 | £980.00 | £450.00 | £529.42 | Possible top
up Hold |
NEXT PURCHASE: -
| PROPOSOR | SHARE PUT FORWARD TO BUY |
| Martin | Sell £3500.00 of BT
& buy SHELL & GALLAGHER ( shares up gamblers choice could make a nice profit & expand portfolio) |
| Peter | Buy ABBEY (Low
market value possible take over from foreign Bank) |
| Keith | Buy HMV (steady
riser 40p up since December expanding in Europe & closing US links) |
We have approx. £1080.00 to spend.
After long discussions we finally agreed to sell some BT share add to the money in the bank to give has about £3000.00 to spend with this money we would spend £2000.00 in the purchase of HMV putting a stop loss of 20% on them & £1000.00 top up of VODAFONE.
Finally in July we’ll have about £600 that was agreed to be used to top up 1 of our share in to portfolio.
ANY OTHER BUSINESS
NON…Hope to see you all at the next meeting / drink up.