Minutes of meeting - 14th October 1999
Minutes of Meeting of Ermyn Investment Club
14 October 1999
Present: DH, RM, GA, AH
- Vote of thanks to DH who presented Cashflow and trading accounts. Portfolio has now grown to 79.39p value per share versus 73.59p in July. Current cash balance £640.
- Sale of Microgen agreed at last meeting resulted in profit of £199.
- Two new purchases - 900 Booker (£1.10) and 750 Corp Svs (£1.06).
Current portfolio Greenwich 4000shares Desire 80shares Ransome 1700shares AEA 300shares Stop loss agreed 375p Booker 900shares Stop loss agreed 130p Corp Svs 750shares Stop loss agreed 95p - Reviewed Director Purchases and selected potential companies to research for next purchase. Aberdeen Asset Management, Wiggins, Britax, Burtonwood, Cox Insurance, Independent Energy, GEC, Goshawk Insurance, James Smith, Laird, Tomkins
Other potential candidates put forward for further research were Wensum, Rage, Scoot.com
Also watch Safeway, M&S and Kingfisher. - NE not been in touch re joining club. All agreed that current position was OK.
- All members agreed that a top up of £100 per person was acceptable when the next purchase had been identified. Also that identification of potential purchases might be helped if other sources were used to gather information. RM agreed to look at SKY and the Internet.
All agreed to an informal meeting to discuss research results as and when it was available. - Possible Club Christmas meal to be discussed at the next meeting.
- Next meeting to be W/C 14 November 1999.
RM
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