Next Meeting

The next meeting will be 8:00pm Monday 21 May 2012 at the Holden Arms.


Recent Visitors

1 April 2007

1 April 2007


Minutes of the meeting held 13.30 on Sunday 1st April, 2007 at Well’s House, Ringley Road, Whitefield

1. Attendance

All members were present except Brian H, Pat, Jeff, Sam & Ros

2. Minutes of the meeting held 18th February 2007

These were circulated to the members prior to the meeting. At the meeting, Pete proposed that they be accepted as a true record and Stephen seconded the proposal. This was agreed unanimously.

3. Matters arising from the minutes

Shares were purchased as follows:-
1328 Worthington Nicholls @148.9p £1,999.78
1624 RC Group @121.7p £1,998.79
204 Renesola @566.8p £1,174.55
436 Asian Citrus @265p £1,173.68

1524 SMC were sold @104p resulting in a loss of £926.16.

Stephen was paid out £1,500 as agreed.

4. Treasurer’s Report

(a) State of the Fund

There is a total of £7,512 in the various accounts available for investment and a further £490 if the April subs are included.

(b) Performance since last meeting

The FTSE100 index has moved from 6419.5 on 16th February 2007 to 6308 on 30th March 2007 a fall of 1.75%. Over the same period the Club’s unit has moved from 520.2p to 498.7p a fall of 4.3%.

(c ) Performance over the last twelve months

The FTSE100 has risen from 5964.6 on 31st March 2006 to 6308 on 30th March 2007 a rise of 5.7%. The value of the Club’s unit over the same period has risen by 1.2% going from 491.8 to 498.7.

5. Junior’s Choice

As only Niamh was present we decreed that this should be a rollover!!

6. Current Holding & Investment Decision

Stop-loss limits were activated as follows:-
1624 RC Group @104.3p – loss £317.46
85 Greene King @1030.2p- loss £133.76
155 Carter & Carter @ 952p – profit £749.17
1336 Fonebak @ 101p – loss £662.81
371 Renesola @ 532.8p – profit £629.34
155 Carter & Carter @1080p – profit £464.30

We discussed our present holdings and noted:-

Mike suggested we should buy back into Carter & Carter – Stephen & Nigel also thought there was still scope for this one.

Brian W commented that Worthington Nicholls were doing well

Nigel advised that Goal Soccer was 80% up and should we increase our holding or possibly invest in Power League which is up 40% from August 06.

Brian W noted that Scott Wilson was up 54% and doing well but possibly due a breather shortly. Also advised that Eros has been getting good write ups. They’ve signed a 5 year deal with Sony which is expected to boost awareness and the target is 550 in 12 months. Present investment is £1,200 and the current price is £4.00.

Stephen mentioned a couple of new shares as possibilities, Hunting who manufacture tubes for steel drilling – the share price has increased from £6 to £7 and growth opportunities exist. Sondex which manufactures equipment for inspecting oil wells and whose operating profit is up 40% and share price is £3.59.
Nigel suggested we should invest in Cosalt which specializes in equipment for marine services a field in which there are many regulations which are being tightened.The yield is 5.7% and share price is 380p

Nigel proposed we should sell Begbies Traynor then invest £2,000 in each of Goal Soccer, Eros & Worthington Nicholls. The remaining funds then to be split eaqually between Cosalt, Carter & Carter & Power League. The proposal was seconded by Brian W and agreed unanimously.

7. Date and venue of the next meeting

13.00 Sunday 29th April 2007 at Well’s House, Ringley Road, Whitefield – NO FOOD . Don’t forget to take a chair!!

8. Any other business