Minutes of AGM - 23rd May 2000
Minutes of AGM of Ermyn Investment Club
23 May 2000
Present: DH, RM, GA, AH
- Financial report
-
Shares now worth 66p
Ransome only share showing a profit
Approx £580 in bank - Review of current portfolio
Greenwich 4000shares Hold and review at 14p. Desire 80shares Hold. Ransome 1700shares Agreed to sell at 58p min or next spike. M&S 300shares Hold and review next meeting. Corp Svs 750shares Out if we can break even, GA to find out when they report. Scott & New 160shares Hold - could get back into Footsie 100 (review next meeting)? Sell at 580p to 650p. Tepnel 800shares Hold for review at next meeting but get out at 120p if before. McAlpine 350shares Hold for review next meeting but sell at 225p (purchase price) or 235p break even. Eidos 260shares Hold - their time will come !! - Strategy
Generally agreed that being ready with some cash in August/September was a good idea and that any sale proceeds would be held to boost available funds at that time. Need to watch market on daily basis when we can. - Potential Targets to watch
Trafficmaster 373p
CMG £35
Psion, Kewill, Sage, Imagination Technology, Mysis, Sema, Dawson Holdings, Laird, Rexam, Tomkins,Baltimore, Durlacher, 3I, Marconi
- AOB
All agreed to maintain current positions - DH Treasurer, RM Secretary and GA Chairman
All agreed that a proposal from DH for a Web site was a great idea and should be pursued.
Next meeting to take place in June (AH away) with planning meeting for our assault on the market to take place at the end of July. (AH will be back from holiday).
RM