Next Meeting

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


Recent Visitors

16 December 2007

16 December 2007


Minutes of the meeting held 13.30 on Sunday 16th December, 2007 at the Holden Vale, Helmshore.

1. Attendance

All members were present except Ros, Pat, Tina, Gill & Brian H.

2. Minutes of the meeting held 4th November, 2007

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

3. Matters arising from the minutes

Because of the activation of stop-loss limits on various holdings, the proposal for funding Pete’s resignation was overtaken by events and he was paid out from cash in hand.

4 Treasurer’s Report

(a) State of the Fund

There is a total of £20,917.63 available for investment. At the end of the month there will be a further £8,382 from the takeover of Kelda. Brian W wishes to withdraw £3,000 which will reduce the amount for investing to £17,917.63

(b) Performance since last meeting

The FTSE100 index has moved from 6721.6 on 29th November 2007 to 6397 on 14th December 2007 a decrease of 4.8%. Over the same period the Club’s unit has moved from 505.2 to 492.4 a decrease of 2.5%.

(c) Performance over the last twelve months

The FTSE100 has risen from 6220.8 on 29th December 2006 to 6397 on 16th December 2007 a rise of 2.8%. The value of the Club’s unit over the same period has remained virtually unchanged going from 492.6 to 492.4.

5. Junior’s Choice

As Caitlin was the only entrant – she won!!

6. Current Holding & Investment Decision

Shares were sold via stop/loss as follows:-
210 BHP Billington @1702.23 Gain £585
1020 Tanfield @ 158p Loss £156
151 Lavendon @ 630.5p Loss £58
280 Aviva @677.78p Loss £110
438 JP Morgan (Indian) @ 401.08p Gain £652
727 Goals Soccer @ 396.25p & 728 @ 370.07p Gain1652
1013 Power League @ 93.02p Loss £39
315 Clapham House @ 280p Loss £129
461 BAE @ 466.75p Gain £143
577 Scott Wilson @ 283.25p & 577@283.25p Loss £203

We then discussed our present holdings as follows:-

 Brian W suggested we should re invest in J P Morgan (India) as it has steadily increased, National Grid, Weir & JP Morgan China Inv Trust

 Stephen suggested we should play safe and invest in companies involved with food, energy, water, google, BAT, supermarkets. Also James Fisher & Northumbria Water

 Dave suggested Gas exploration company Hargreaves

 Richard suggested investing in the beleaguered banking sector as they seem to presently offer a high yield at a cheap price.

 Nige suggested mining companies particularly Hochschild Mining (Latin America). Carter & Carter, Milario, Haike Chemicals, MP Evans
These suggestions resulted in a proposal from Richard seconded by Dave to invest £2K in each of Tesco & BAE and £1,500 in each of Hochschild, Meloria & Hargreaves
Brian W proposed £2K in Tesco & BAE and leave the remainder in cash, this was seconded by Richard.

Jeff proposed £2K in each of Tesco, BAE, MP Evans and keep remainder in cash, this was seconded by Mildred.

Nige proposed £3k in each of National Grid, BAT, JP India, £2K in each of Tesco & BAE, & £1K in each of Haike Chemicals, MP Evans, Hochschild & Melorio keeping the balance in cash, this was seconded by Jeff.

The proposals were voted on and the final one carried by a majority.

7. Any other business

Brian offered his thanks to Stephen and Sarah for their hospitality before and after the Christmas meal and to Sue for organising the meal.

8. Date and venue for the next meeting
20th January 2008, at the Holden Vale, Helmshore, at 12.00 for food and drinks, then 13.30 for the meeting.