consett no1 shareclub

Minutes of Meeting held on 14^th January 2008 at Number One Central Social Club

Present: P. Naughton, M. McAloon, M. McElhone, K. Rainbow, S. Smith

Apologies: M. Naughton, K. McElhone

Minutes of Previous Meeting

None available as the Shareclub pen was on its Christmas holidays.

Treasurer’s Report

Value of Each Share in Club: 84.86p (down from 89.52 last month)

iDealing Account: £748.25

LloydsTSB Account: £110.90

Slush Fund (Night Out): £162

Value of total assets of the club: £27,240 (securities) / £27,937.87 (net assets)

Units issued: 32,922.25

Dividends received this month: LADBROKES £14.88; BP £15.12; TESCO £11.29; ASIAN CITRUS £28.78

Average Member worth: £ 1985.67

Investment and Dealing

We received £3 interest from iDealing, and paid them £5 service charge.

With almost £750 in the bank it was agreed that nothing should be sold this month, especially since most prices have fallen.

There was only one proposal to buy:

GRIFFIN – Paddy (and NOT Smithy) – down to 77.25p at the moment. “It’s your duty.” Despite not really knowing why the price has fallen, it was unanimously agreed that we should buy.

Beef nobly stated, “can I just say on Clarkey’s behalf he wouldn’t have it.” Marty added, “I’ve never voted against it…”

Any Other Business

Member J. Milbourne has increased his monthly investment to £32.
Looking ahead, we will probably aim for the night before Plate Day (i.e. Friday June 27^th) for our next members’ night out.

Date and Time of Next Meeting: 11^th February 2008 8.30pm Number One Club

Meeting closed 9.20pm

Minutes of Meeting held on 12^th November 2007 at Number One Central Social Club

Present: M. McElhone, M. McAloon, S. Smith, P. Naughton, M. Naughton, K. Rainbow, D. Clarke

Apologies: K. McElhone

Minutes of Previous Meeting

Check out the updated minutes page at: http://www.no1shareclub.co.uk

Treasurer’s Report

Value of Each Share in Club: 93.09p

iDealing Account: £783.05

LloydsTSB Account: £690.61

Slush Fund (Night Out): £130

Value of total assets of the club: £ 34,009.74 (net assets) Up £500 on October

Units issued: 36,533.79

Dividends received this month and last: LLOYDSTSB: £87.13 / PRUDENTIAL £11.40 / GREGGS £13.80 / CATTLES £25.42 / DIGNITY £14.61 / CARILLION £13.19 / S&N £27.75

Average Member worth: £2145.62 (from next month, J. Murray will replace J. Smith as the “average member” – see below)

Investment and Dealing

Two members are withdrawing funds this month. J. Smith will be leaving altogether, and P. Naughton is withdrawing £2,000. Apparently this entitles them to be considered “traitors”, “scumbags” and “f***ing tossers” by fellow shareholders.

On top of money held in the bank accounts a further £2,700 (approx.) needed to be raised through the sale of shares to pay these members. After two rounds of voting, it was agreed that the following should be sold:

TenAlps – Maca – “had a good run” and Geldof wouldn’t let Slade do Live Aid

BP – Marty – “Not going anywhere and a small dividend” (That’s BP, not Marty)

Having also decided to sell Vivomedica and Intellego to “tidy up the portfolio”, we were left with around £1500 to spend. Oh dear.

In the longest speech ever given to the Shareclub by someone who had “been in Wetherspoons since 4 o’clock”, Beef told us all about Nighthawk. It is not rhyming slang; it probably has nowt to do with Hasselhoff; and it is not based in an extinct volcano. Instead, it is a good tip from a friend of a friend. He owns racehorses. Oh and the company itself is involved in oil production and exploration. After a couple of votes it was agreed that we should go with Nighthawk and not Maca’s suggestion (Indigo Petroleum). £1500 will be invested tomorrow.

Any Other Business

The Shareclub Direct Debit from Lloydstsb account to iDealing has now been raised to £300 per month.

Hey! Shareclub virgins! Why not join us for “cut and thrust”; a drink; and a mince pie (courtesy of Smithy) at the December meeting!

Date and Time of Next Meeting: December 10th 8.30pm Number One Club

Meeting closed: 9.55pm

Minutes of Meeting held on 10^th September 2007 at Number One Central Social Club

Present: M. McElhone, M. McAloon, S. Smith, P. Naughton

Apologies: K. McElhone, M. Naughton

Minutes of Previous Meeting

Appearing soon on a website near you

Treasurer’s Report (covering 2 months)

Value of Each Share in Club: 86.88p (down 5.98 on July)

iDealing Account: £618.64 (£250 going in tonight)

LloydsTSB Account: £819.61 (£250 going out tonight)

Slush Fund (Night Out): £97 (only one month of contributions instead of 2)

Value of total assets of the club: £29,749.74 (securities) / £31,090.99(net assets)

Units issued: 35,788.37

Dividends received in last 2 months: BP £15.04; VODAFONE £30.87

Average Member worth: £1,971.32

Investment and Dealing

As prices are currently low, it was agreed unanimously that we should sell nothing.

Three serious suggestions* attracted votes for a buy:

CONNAUGHT – Marty – Government Social Housing Partner whose epic is CNT…

Aviva – Maca – Insurers who are tipped again

Tanfield Group – Maca – Still acquisitive

CONNAUGHT won out 2-1-1 in the usual tense vote and £750 will be invested tomorrow.

*One silly suggestion attracted no votes:

Asian Citrus – Smithy – “think of all the half-time oranges at the Women’s World Cup.”

Any Other Business

The increased transfer of £300 from Lloydstsb to iDealing will happen as soon as Treasurer gets a chance.

Date and Time of Next Meeting: 8^th October 2007 8.30pm Number One Club

Meeting closed 9.25pm

Minutes of Meeting held on 9^th July 2007 at Number One Central Social Club

Present: M. McElhone, K. Rainbow, S. Smith, P. Naughton, M. McAloon

Apologies: K. McElhone, M. Naughton

Minutes of Previous Meeting

On website soon, we hope!

Treasurer’s Report

Value of Each Share in Club: 92.86 (up 1.69p)

iDealing Account: £840.50

LloydsTSB Account: £704.39 (plus £144 coming back from the £200 that went to Races Trip, which will be put into unit price as usual)

Slush Fund (Night Out): £81

Value of total assets of the club: £31,100.52(securities) Units issued: 35,069.02

Dividends received this month: DIGNITY £26.60 / CARILLION £22.24

TESCO £24.10

Average Member worth: £2,075.10

Investment and Dealing

Paid £5 to iDealing in dealing fees, but got £8 back in interest. Also got 22p interest from LLOYDSTSB. Yippee.

Sold NXT for £389.76

Sold NORTHERN RACING for £720 (a profit of £66.02)

Due to new members arriving, and certain existing members increasing their monthly contribution, there is now £334 per month going into LloydsTSB, so it was unanimously agreed that the monthly Direct Debit to iDealing should be increased to £300 from the current £250.

To sell… (There were 2 suggestions)

Nowt – Paddy – Not much going on

Asian Citrus – Beef – Not going any higher, and I like to sell things.

It was agreed by 3 votes to 2 to sell Nowt.

To buy… (3 suggestions attracted votes)

Connaught – Paddy – partnering government in social housing

Telfonica – Smithy – have sole rights to new i-fone

Bloomsbury – Beef – It’s Potter time again

TELFONICA was successful, and £750 will be invested tomorrow.

Any Other Business

Since there will not be enough to buy next month, and the secretary will be taking the official shareclub pen on holiday with him to do his postcards, the next meeting will be September.

Date and Time of Next Meeting: September 10^th 2007 8.30pm Number One Club

Meeting closed 9.45pm

Minutes of Meeting held on June 11^th 2007 at Number One Central Social Club

Present: M. McElhone, K. Rainbow, S. Smith, P. Naughton, M. McAloon, S. Dodgson

Apologies: K. McElhone, G. Richardson, M. Naughton, D. Clarke (with a broken bone in his foot. Lame Excuse.)

Minutes of Previous Meeting

Posted on Website and circulated at meeting

Treasurer’s Report

Value of Each Share in Club: 91.17p (every share in portfolio down on last month except Greggs)

iDealing Account: £1137.67

LloydsTSB Account: £426.39

Slush Fund (Night Out): £265

Value of total assets of the club: £30,340.31*(securities)

* includes an estimate of £712.80 to reflect value of holding in Northern Racing, who have accepted an offer of £2 per share which is what we’ll get

Units issued: 34,702.31

Dividends received this month: Cattles £48.58; Ladbrokes £5.76; Prudential £23.44; BP £14.68; Greggs £23.40

Average Member worth: £2,021.44 (down £67 0n last month)

Investment and Dealing

The only proposal to sell was:

NXT – Marty – “It is on its way out. Sell before we lose more.”

(NB see last months BUY proposals…)

So after a quick vote NXT won out 4-2 over the “sell nowt” option.

To buy:

The usual high quality financial investigations resulted in 3 proposals:

S&N – Beef – “they sell loads of lager at these music festivals”

AVIVA – Marty – “Well placed to out-perform other insurers. Still.”

KRYSO – Maca – “It’s gold”

Other suggestions included TDM, Proctor and Gamble and BT.

After 2 rounds of voting, KRYSO RESOURCES and SCOTTISH AND NEWCASTLE won out and will have £700 invested in them tomorrow

Any Other Business

The Bookies’ annual howking at Newcastle Races: bus leaves Wetherspoons at 4.45pm on 29^th June. Names to Marty A.S.A.P. 24 seater booked for £125

Date and Time of Next Meeting: 9^th July 2007 8.30pm Number One Club

Meeting closed 9.50pm

Minutes of Meeting held on 14^th May 2007 at Number One Central Social Club

Present: M. McElhone, K. Rainbow, S. Smith, P. Naughton, M. McAloon, P. Rooney

Apologies: K. McElhone

Minutes of Previous Meeting

Circulated at meeting and posted on website

AGM

Member K. Rainbow scrutinised the bank statements and found them to be in order. Treasurer and Secretary were re-elected, as was the Chairman in his absence.

Treasurer’s Report

Value of Each Share in Club: 94.9p

iDealing Account: £1784.84

LloydsTSB Account: £326.39

Slush Fund (Night Out): £249

Value of total assets of the club: £30,736.89 (securities) / £32,599.27(net assets)

Units issued: 34,350.72

Dividends received this month: S&N £37.54, LloydsTSB £140.53

Average Member worth: £2,088.09 (an increase of £368.68 on this time last year. During this period, the average member has paid in £180 for shares)

Members are reminded that the constitution of the Shareclub says that they will be paid within 90 days if needing to withdraw money.

Anyone wishing to increase their monthly contribution should do so through their bank and inform the treasurer as soon as possible.

Investment and Dealing

Member C. Young has been paid £1500 from his stake in the club.

ROMAG went through the stop-loss and was sold the day after the last meeting

Three companies were suggested as possible sells:

Tesco – Smithy – It never does much. Apart from go up.

Northern Racing – Smithy – Nowt happening?

Prudential – Beef – Late proposal so that we can buy an insurance company…

There was then a 5-1 vote in favour of selling nothing.

Three companies were suggested as possible buys:

IN THE HUFF – Pat and Beef – after not getting their own way in previous votes

AVIVA – Maca – well placed to out-perform other insurers

NXT – Marty – Shinhint have finally set up new factory to produce flat speakers (“Not for widows and orphans…”)

VODAFONE – Pat (emerging from huff for another try) – same reason as last month.

After two rounds of voting and a challenge to the club’s constitution from the disgruntled member who attempted to cast his vote in two halves, VODAFONE came out on top, and £1,000 will be invested tomorrow. Members are reminded that this leaves a further £1,000 to spend at next month’s meeting.

Any Other Business

Please note that the annual night at Newcastle races will be FRIDAY 29^th JUNE (NOT 22^nd as previously stated). Marty will take names at or before next meeting. The “Slush Fund” will be spent on bets and transport, and this will also be finalised at the next meeting.

Date and Time of Next Meeting: 11^th June 2007 8.30pm Number One Club

Meeting closed 9.50pm

Minutes of Meeting held on 16^th April 2007 at Number One Central Social Club

Present: M. McElhone, K. Rainbow, S. Smith, P. Naughton, S. Dodgson, P. Rooney, D. Clarke

Apologies: K. McElhone

Minutes of Previous Meeting

Fully updated on website.

Treasurer’s Report

Value of Each Share in Club: 91.7p

iDealing Account: £2,604.24

LloydsTSB Account: £263.39

Slush Fund (Night Out): £232

Value of total assets of the club: £30,062.93(securities) / £32,698.58 (net assets)

Units issued: 35,659.73

Dividends received this month: £7.26 interest from iDealing / £5 fees paid to iDealing

Average Member worth: £2,002.26 (Now that holdings are higher, members are reminded of the need to give notice when they want to withdraw money, as it will almost inevitably involve the sale of some shares which can only be done through the monthly meeting. Meetings will usually take place on the 2^nd Monday of each month.)

Investment and Dealing

Member C. Young has arranged to withdraw £1,500 from his holding in the Shareclub.

Suggestions were made for the investment of the remaining £1,000:

LADBROKES – Marty – to increase our small holding

NORTHERN RACING – Beef – Still attracting interest

VODAFONE – Pat – trying to buy into India’s 4^th biggest mobile company, and if they do…

BOYLESPORTS – Pat – only joking… but do bookies throw money away? “There’s a mindset change at that club…”

After two tense rounds of somewhat tactical voting, Ladbrokes won out and £1,000 will be invested tomorrow.

Any Other Business

AGM next month.

Marty will sort tickets for Evening Race Meeting at Newcastle on 22/6/07. A 20 seater bus will be arranged for the annual Shareclub fleecing of the bookies.

Date and Time of Next Meeting: 14^th May 2007 8.30pm Number One Club

Meeting closed 935pm

Minutes of Meeting held on 12^th March 2007 at Number One Central Social Club

Present: M. McElhone, K. Rainbow, M. McAloon, S. Smith, P. Naughton

Apologies: K. McElhone, J. Milburn

Minutes of Previous Meeting

Will be on the website by the time you read this. Thanks to Member J. Milburn for his vigilance

Treasurer’s Report

Value of Each Share in Club: 87.97p (lowest since Nov. ’06 and down over 8p)

iDealing Account: £8,074.07

LloydsTSB Account: £184.39

Slush Fund (Night Out): £216

Value of total assets of the club: £23,014.60(securities) / £31,057.08(net assets)

Units issued: 35,303.89

Dividends received this month: Romag £5

Average Member worth: £1,904.91 (down over £160 on last month)

Investment and Dealing

Following the automatic sale of Griffin, when it reached its stop-loss, there was over £8,000 to spend. Members agreed to buy two new shares (spending £1500 on each) and consolidate four existing shares (spending £1000 on each).

The proposed new shares attracting votes were:

Greggs – Smithy – due to buy back shares for cancellation and taking on new ventures

IPL – Maca – a petroleum company digging for oil

Griffin – Marty – the portfolio just looks wrong without it

Biffa – Marty – prime position to benefit from all this recycling crap

BP – Paddy – safer bet in Oil Sector. And silicon?

Connaught – Paddy – social housing developer benefiting from government policy

After some longwinded voting, GREGGS and BP won out.

Each member then voted for 3 of the existing stocks for further investment. When all votes were cast (and if you think this sounds complicated you should have been there) the leading companies were: ASIAN CITRUS HOLDINGS, CARILLION, CALEDON and LLOYDSTSB.

So… on a record-breaking night £7,000 was spent on 6 lots of shares.

Any Other Business

There is still money to spend next month… and a trip to the races to organise!

Date and Time of Next Meeting: 16^th April 2007 (9^th is a Bank Holiday) 8.30pm Number One Club

Meeting closed 9.40pm

Minutes of Meeting held on 12^th February 2007 at Number One Central Social Club

Present: M. McElhone, K. Rainbow, M. McAloon, S. Smith, D. Clarke, P. Naughton

Apologies: K. McElhone, M. Naughton

Minutes of Previous Meeting

In the absence of the secretary at the January meeting, nobody had a pen…

Treasurer’s Report

Value of Each Share in Club: 96.12p (up from last month’s 93.18)

iDealing Account: £797.96

LloydsTSB Account: £105.38

Slush Fund (Night Out): £200

Value of total assets of the club: £32,919.13 (securities) / £33,629.49 (net assets)

Units issued: 34,978.2

Dividends received this month: Tesco £9.91; Asian Citrus £11.28

Average Member (now J. Smith) worth: £2,065.46 (up £79 on last month)

Investment and Dealing

During the last month, Romag went up 50% in one week, and Vane went from 11.5p to 20p.

After discussing Romag, Tenalps and Osmetech, it was unanimously agreed that we should sell nothing.

The discussion on what to buy involved 2 rounds of voting on the following companies:

FIRST GROUP – Beef – a London based bus company which trains its largely Eastern European workforce with old episodes of programmes featuring strong regional accents – e.g. Only Fools and Horses.

TOROTRAK – Clarkey – Plugged as a “strong buy” and “getting into Lawnmowers.”

HSBC – Maca – best placed to benefit from Asian markets

Members wound the clock back 7 years, and Torotrak won the day and we will invest £750 with a strict stop-loss of 45p.

Various other stop-losses, including Griffin (90p) and Romag (170p) were also set. Treasurer will feed back at next meeting about setting automatic stop-loss figures on the iDealing site.

Any Other Business

Marty survived cross-examination after annual study of accounts by Beef
Northern Racing expects news in March about all-weather track at Sedgefield
Can we find out more about “Walker Filtration”?

Date and Time of Next Meeting: 12 / 03 / 07 AT 8.30pm Number One Club

Meeting closed 9.55pm

earlier minutes

Minutes of the meeting held on 11^th December 2006 at Number One Central Social Club

Present: D. Clarke, P. Naughton, M. McElhone, M. McAloon, S. Smith, K. Rainbow, P. Rooney

Apologies: K. McElhone

1.Minutes of Previous Meeting

Posted on website and circulated at meeting

2.Treasurer’s Report

Value of each share in the club: 89.9p (highest since first few months of Shareclub)

iDealing Account:£ £279.15

LloydsTSB Account: £479.39

Slush Fund (night out):£169

Value of total assets of the club: £30,740.31 (securities) /£31,329.85 (net assets)

units issued: 34,850.27

Dividends received this month and last: Cattles £23.10; Dignity £13.30; Ladbrokes £3.08;Carillion £3.62; Prudential £10.84; Scottish & Newcastle £18.77 (all of these dividends go directly into the iDealing account.

Average Member worth: £1,918.23

3. Investment and Dealing

We bought 360 shares in Northern Racing at a cost of £653.98

The average member (S. Smith) informed the meeting of his intention to withdraw £1,000 from his holding to fund his Jason King extravagant lifestyle. There was a general feeling of disappointment at this behaviour, following as it does, hard on the heels of his disgraceful behaviour at the races for which the shareclub has yet to receive any formal or informal apology, other than, “what am I supposed to have done, like?”

Members D. Clarke and K. Rainbow will buy £350 worth each from Mr. Smith’s holding. Member P. Rooney will buy £150 worth, and the remaining £150 will come from the LloydsTSB account. Mr. Smith will be handed his cheque, and a white feather, at the next meeting.

There was only one further topic to discuss – Should we sell anything?

GRIFFIN – Paddy / Kath (by proxy) – this holding now represents 30% of the club and we have a massive profit – almost 300%.

It was unanimously agreed that we should use the iDealing website to set an automatic stop-loss at 90p. We have bought Griffin at an average price of 27p, and it was agreed that nobody would be disappointed with such a return. Members are advised to come with some ideas for buying next month, in case we have a lot of money to spend as a result of this decision, or in case we decide to sell a portion of the Griffin holding to “take a profit.”

4. Any Other Business

LadyKillers Christmas gig at the Derwentside is on Saturday 16th December, not 12^th as stated in last month’s minutes.

Pat had “forgotten how stupid these meetings are.” He was reminded that he is welcome not to come again.

He then led a rant against Thatcher and the Queen. We’ve missed him.

Members hoped that Pinochet’s widow was “getting Dignity in.”

The Treasurer asked again for ideas for the Shareclub Website. Useful suggestions included, “update the f***er,” and “put snow on.”

5. Date and Time of Next Meeting: 8.30pm on 8^th January 2007

Meeting closed 9.45pm

Minutes of the meeting held on 20^th November 2006 at Number One Central Social Club

Present: P. Naughton, M. McElhone, K. Rainbow, M. McAloon, D. Clarke, M. Naughton

Apologies: S. Dodgson, S. Smith, K. McElhone

1.Minutes of Previous Meeting

Will be appearing soon on a website near you!

2.Treasurer’s Report

Value of each share in the club: 85.74p

iDealing Account: £680.05

LloydsTSB Account: £665.39

Slush Fund (night out): £153 (after paying members into races and providing stakes for bets)

Value of total assets of the club: £28,373.56 (securities) /£ 29,566 (net assets) – up almost £2,000

units issued: 34,485.23

Dividends received this month: details next month

Average Member worth: £1,813.40

3. Investment and Dealing

Shares in SHIRE were sold for £993.13

Caledon Resources has been re-listed today. They have acquired new mines and there was a discussion as to whether we should sell now for a quick £200 profit, but it was unanimously agreed that nothing should be sold this month as we have slimmed down the portfolio over recent months.

There were 4 suggestions for a possible buy:

Northern Racing – Clarkey – there’s going to be a big consolidation of racecourse ownership

Ladbrokes – Marty – talk of them getting in on poker sites, and thought to be ripe for takeover

Advanced Medical Solutions – Maca – tipped everywhere

Hambledon Mining – Maca – next big mining company

After a thrilling 3-3 draw between Northern Racing and Ladbrokes, Milly’s casting phone vote went to Northern Racing and £680 will be invested. (Insufficient funds to go to £750)

4. Any Other Business

A great day was had at the races, but it was agreed that we would revert to summer meetings as it was too cold for the softer members. Meanwhile Smithy’s disgraceful behaviour offended Beef and was on the verge of bringing the name of one of North Consett’s leading Investment Clubs into disrepute.

Great excitement spread around the room with the announcement of the annual LadyKillers Christmas gig at the Derwentside on December 12^th, where entry is £3, which is less than double what it cost in 2005…

5. Date and Time of Next Meeting: 8.30pm 11^th December 2006

Meeting closed 9.25pm

Minutes of the meeting held on 9^th October 2006 at Number One Central Social Club

Present: P. Naughton, M. McElhone, S. Dodgson, K. Rainbow, M. McAloon, S. Smith

Apologies: M. Naughton, K. McElhone

1.Minutes of Previous Meeting

Posted on website

2.Treasurer’s Report

Value of each share in the club: 80.91p

iDealing Account:£630.66

LloydsTSB Account: £756.39

Slush Fund (night out):£217 (with £128 to come out for race tickets)

Value of total assets of the club: £ 26,419.23 (securities) /£27,589.28 (net assets)

units issued: 34,098.31

Dividends received this month: LLOYDSTSB £48.75

Average Member worth: £1695.35

3. Investment and Dealing

Trading in Caledon is now suspended until December, as they have acquired more mines.
£5 admin. Fee paid to iDealing / £2.38 interest received from iDealing.
£503.56 received from the sale of COMPASS and £1023.83 from sale of SAGE
£767.48 spent on shares in GRIFFIN and £769.71 on shares in LLOYDSTSB

Among the SELL options, three attracted votes:

Some of GRIFFIN – Paddy – 25% of the club is invested in one company
SHIRE – Marty – it has finally got back to a break even figure
Sell Nowt

After a mere one round of voting, SHIRE will be sold.

With money burning holes in members pockets, there followed an unprecedentedly bold round of suggestions for a BUY:

NXT – Paddy – worth a £500 punt as now in a partnership and relocating to Hong Kong.

LSE – Steve D – we keep talking about it… and NASDAQ have upped their stake

TOROTRAK – Smithy – closely linked with 3 different vehicles and Kyoto Agreement helps

DIGNITY – Marty – still making money, and when Clarkey hears about Torotrak he’ll kill Smithy.

After two votes the “dream ticket” of NXT and TOROTRAK won out. Our holding in each will be increased by £500, leaving enough for a buy next month.

Quotes from excited members:

Beef: If I had a hat on I’d take it off to you. It’s a very brave move.

Smithy: If you don’t come to the meetings you can’t complain.

Smithy: It’s a Shareclub, not a savings club.

Maca (in floppy hat, chewing piece of straw): I voted for both, me…

4. Any Other Business

Tickets are due for Races. Bus leaves Wetherspoons at 11.30am on Friday November 10^th.
Reflecting members concerns at the size of our holding, a strict stop-loss of 63p was set on GRIFFIN

5. Date and Time of Next Meeting Monday 13^th November 830ish

Meeting closed 10.20pm

Minutes of the meeting held on11th September 2006 at Number One Central Social Club

Present: P. Naughton, M. McElhone, S. Dodgson, K. Rainbow, M. McAloon, S. Smith

Apologies: M. Naughton, K. McElhone (tired after returning to work)

1.Minutes of Previous Meeting

Appearing soon at a website near you…

2.Treasurer’s Report

Value of each share in the club: 81.56p (up 2.74p on August) - units issued: 33,714.52

iDealing Account:£594.51

LloydsTSB Account: £477.39

Slush Fund (night out):£201

Value of total assets of the club: £ 26,627.63 (securities)

Dividends received this month or last: Tesco £21.53 Compass £6.84

Average Member worth: £1,693.01

3. Investment and Dealing

According to “The Source”, Caledon is due to come back on October 16^th and peak between 8 and 8.30. Should this happen, it was agreed that Stephen D. would sell on behalf of the Shareclub. There is another meeting before then if anybody has any further thoughts.

The feeling of the meeting was that we should streamline the portfolio by selling one or two existing holdings and extend our investment in other existing companies. Suggestions were:

SAGE – Smithy – back now at a point where we could break even

COMPASS – Marty - £500 hold, so take the money and invest elsewhere

ROMAG – Paddy – sell half to leave us with a free £500 holding (more or less)

A typically dramatic round of voting resulted in decisions to sell SAGE and COMPASS.

After suggestions to buy LADBROKES, GRIFFIN, LSE, LLOYDSTSB, DIGNITY and BAA, the vote was to spend £750 each on increasing our stake in LLOYDSTSB (Paddy – “it is solid”) and GRIFFIN (Steve D. – “ cos Rico bombed us out last month”)

There was a stunned silence as members reflected on the fact that approximately 25% of the club is now invested in a Chinese goldmine… It was suggested that we might discuss this next month.

4. Any Other Business

The annual race trip will be to Newcastle on Friday 10th November, and it will be an early start. The Shareclub has ordered 16 tickets at the reduced rate of £8 for interested members and the rest will go to guests on a “first come first served” basis. Members will not be charged for tickets, and the rest of the “slush fund” will be used as stake money. Please get names to Marty before next meeting so that a bus can be arranged.

5. Date and Time of Next Meeting

Monday 9^th October 830ish

Meeting closed 9.50pm

Minutes of the meeting held on 14^th August 2006 at Number One Central Social Club

Present: P. Naughton, M. McElhone, S. Dodgson, K. Rainbow, M. McAloon, S. Smith

Apologies: P. Rooney. K. McElhone

1.Minutes of Previous Meeting

Circulated and sent to website

2.Treasurer’s Report

Value of each share in the club: 78.82p (down from 81.18p)

iDealing Account:£1115.66 (including a dividend of £565 from Dignity PLC – we now own fewer shares, but of a higher value, following consolidation)

LloydsTSB Account: £396.39

Slush Fund (night out):£185

Value of total assets of the club: £ 25,507(securities) /£26,262.12 (net assets)

units issued: 33,317.4

Dividends received this month: Information not available as treasurer was too excited about Dignity

Average Member worth:£1620.16 (down £32 on July)

Meanwhile trading in Caledon Resources is expected to be suspended until mid-October.

3. Investment and Dealing

With plenty of money to burn the question was, did we want to sell something to make even more money available! It was decided by 5 votes to 1 to sell nothing, despite reasoned arguments against LLOYDSTSB – “I hate them” (Smithy) and PRUDENTIAL – “nowt’s happening with them” (Beef)

So what shall we buy…? Suggestions included LSE, Ladbrokes and Sage, but the ones to attract support were:

GRIFFIN – Paddy – “Get in again while it is low” (under 80p)

OSMETECH – Maca – tipped by his source and “they do Biotech stuff”

DIGNITY – Marty – They’re in rude health

After two rounds of voting, OSMETECH won out over Griffin on the casting phone vote of member G. Richardson. It was thrilling. And dramatic.

4. Any Other Business

Shareclub members were advised of the recent progress of Consett A.F.C., their local team, currently sitting proudly on top of the Northern League. Member S. Dodgson foolishly bet your secretary that they wouldn’t finish in the top three. Candy off babies. Or lager, to be precise. Anyway check out the C.A.F.C. website… http://www.consettafc.com/index.php

Members are reminded that the new date for the annual trip to the races is now November 10^th.

5. Date and Time of Next Meeting

11^th September 2006 – a notorious date, as you all know – Thug’s birthday.

Meeting closed 9.35

Minutes of the meeting held on 10^th July 2006 at Number One Central Social Club

Present: P. Naughton, M. McElhone, S. Dodgson, D. Clarke, P. Roonoey, K. Rainbow, M. McAloon, S. Smith

Apologies: M. Naughton, K. McElhone

1.Minutes of Previous Meeting

Due to secretary’s absence no minutes were produced from last two meetings, but we are back in action now!

2.Treasurer’s Report

Value of each share in the club: 81.18p (up from last month’s 76.58p)

iDealing Account:£22.33

LloydsTSB Account: £583.93

Slush Fund (night out):£169

Value of total assets of the club: £26,295.59 (securities) /£26,732.85(net assets)

units issued: 32,931.82

Dividends received this month: none

Average Member worth: £1,652.51 (£538.51 profit)

3. Investment and Dealing

We are due a dividend of £1 per share from Dignity following good recent performance. We believe this is due in August, and it was agreed that if it is offered in cash or shares then we will take the shares
ROMAG is also expected to pay a large dividend
Trading in CALEDON has been suspended (possibly until September) and is believed to be involved in a reverse takeover. This should be good news, but we all remember ZiMedical!

There was not enough money to buy without selling first, so after a 6-2 vote in favour of selling nothing, we retain our holding in LLOYDSTSB, despite Smithy’s assertion that we are only £50 up and have £2 ½ K invested in them.

It was suggested that we may consider buying into the Stock Market (LSE) next month, if members want something to consider on the warm summer evenings to come!

4. Any Other Business

RACES NIGHT has been moved to November 10^th as so many people were unavailable for planned date in August.

Chairman suggested a Guestbook on website although “fears” were expressed that it could be inundated with porn…

5. Date and Time of Next Meeting 14^th August 8.30pm Number One Club

Meeting closed 9.30pm

Minutes of the meeting held on 13th March 2006 at Number One Central Social
Club
Present: P. Naughton, M. McElhone, M. McAloon, S. Smith, K. Rainbow, M.
Naughton, G. Richardson (Shareclub Virgin)
Apologies: K. McElhone
1.Minutes of Previous Meeting
Posted on website and accepted as a true and wryly amusing record
2.Treasurer's Report
All figures this month are without Mowlem as it is currently in the process
of being taken over
Value of each share in the club: 75.68

iDealing Account:£455.57

LloydsTSB Account: £381.33

Slush Fund (night out):£105

Value of total assets of the club: £23,031.75 (securities) /£23,763.65 (net
assets)

units issued: 31,399.47

Dividends received this month: Compass £13.00, Sage £8.20

Average Member worth:£1,480.55

3. Investment and Dealing
£511.23 was spent last month on a further investment in LloydsTSB
Do we want to sell this month?
. Tesco - Smithy - it is boring
. Vane - Michael - never done nowt
There followed a 5-1-1 vote in favour of selling nothing.

There is enough money to buy this month and next:
Asia Citrus Holdings - Michael - devastated that he missed his chance to
vote for it last month
GUS - Maca - These catalogue people were tipped in all the Sundays
Nestle - Paddy - Faceless chololate pushers approaching Mothers' Day and
Easter
BT - Smithy - Rico's just got broadband in
Glaxo - Rico - My friend works there and he works very hard

After 4 tense rounds of voting it was agreed that we'd go for Asia Citrus
Holdings, and if we can not get that (as we have had problems with Chinese
companies before) then we'd buy into GUS.
4. Any Other Business
. New member, Mr S. Dodgson, joining from next month
. Smithy to bring suggestions for Summer Race Night to next meeting
. Rico failed to perform "Chicken Dance" initiation.
.
5. Date and Time of Next Meeting
8.30pm 10th April 2006 No. One Club

Meeting closed 9.50pm
Don't forget the Shareclub website - http://www.no1shareclub.co.uk/

Minutes of the meeting held on13th February 2006 at Number One Central Social Club

Present: P. Naughton, K. Rainbow, M. McAloon , S. Smith, M. McElhone

Apologies: K. McElhone, D. Clarke

1.Minutes of Previous Meeting

Not yet available

2.Treasurer’s Report

Value of each share in the club: 76.28 (another all time high)

iDealing Account:£695.60

LloydsTSB Account: £350.33

Slush Fund (night out):£90

Value of total assets of the club: £ 23,679.99 (securities)

units issued: 31,044.8

Dividends received this month: Speedy Hire £4.55

Average Member worth:£1,476

3. Investment and Dealing

Griffin is close to stop-loss… but not close enough!

It was unanimously agreed that nothing should be sold. We are in a position to buy, as was unanimously agreed last month… so…

LLOYDSTSB – Clarkey / Paddy – price rising as buyout looms(?)

Asia Citrus Holdings – Maca – Chinese standard of living has improved so they can afford fruit

Hilton – Smithy – Just rejected takeover bid. May be doing share option

The vote went 3-1-1 in favour of a further £500 punt on LLOYDSTSB

4. Any Other Business

Members may wish to buy AND sell next month.

5. Date and Time of Next Meeting

8.30pm 13^th March 2006

Meeting closed 9.30

Minutes of the meeting held on 16^th January 2006 at Number One Central Social Club

Present: P. Naughton, M. McElhone, D. Clarke, K. Rainbow, M. McAloon

Apologies: S. Smith, K. McElhone

1.Minutes of Previous Meeting

Posted on website

2.Treasurer’s Report

Value of each share in the club: 75.1p (all time high)

iDealing Account:£441.05

LloydsTSB Account: £335.33

Slush Fund (night out):£75

Value of total assets of the club: £22,343.12 (up over £2K in a month)(securities) /£ 23,044.50 (net assets)

units issued: 30,709

Dividends received this month: none

Lovettwatch: £206.89 (unprecedented!)

Average Member worth: £1438.91 (up over £100 on last month)

3. Investment and Dealing

We still could not buy China Air, so £1002.47 was spent on further shares in Dignity, ready for a cold snap, or Bird Flu.

To buy this month, we would have to sell so it was agreed that we would “sit tight” and buy next month.

Following a 4-1 vote, it was agreed that we would take up an offer from Mowlem, buy taking what they offered in shares in the new company Carillion.

4. Any Other Business

We have room for four more members… as long as they are not related to Marty and don’t come from Stanley, apparently.

5. Date and Time of Next Meeting

8.30pm 13^th February 2006

Meeting closed 9.35

Minutes of the meeting held on12th December 2005 at Number One Central Social Club

Present: P. Naughton, M. McElhone, D. Clarke, K. Rainbow, S. Smith, M. McAloon, P. Rooney

Apologies: K. McElhone, M. Naughton

1.Minutes of Previous Meeting

Accepted as a true record and posted on the website

2.Treasurer’s Report

Value of each share in the club: 71.7p (all time high)

iDealing Account:£1195.73

LloydsTSB Account: £288.33

Slush Fund (night out):£60

Value of total assets of the club: £20,340.86 (securities) /£21,764.92 (net assets)

units issued: 30,355

Dividends received this month: Hilton £7.22, Tesco £8.93 (Every Little Helps)

Lovettwatch: £180.37 (all time high)

Average Member worth: £1,359.43 (up almost £100 on last month)

3. Investment and Dealing

Last month we bought £1,017.58 worth of shares in LloydsTSB.

With money in the bank there followed a gripping 3 round vote which was declared void on a technicality. In the real vote there turned out to be 3 options:

China Air – Pat – we suggested it ages ago and the Wise Men came from the East

BT – Smithy – Broadband Spreading

Dignity – Beef – They now have links with Age Concern…

Northern Racing – Dave – developing all weather courses

The first vote went in favour of China Air, with a second vote leaving Dignity as a reserve option if it was still impossible to buy China Air. We will be investing £1,000.

There followed a vote on whether we should sell anything. Options to sell included Speedy Hire, Tenalps and Prudential, but after a second round of voting it was agreed that we should sell nothing.

The “Cut and Thrust” is truly inspiring these days, you know… and as a wise man once said, “if you don’t come to the meetings you can’t complain…” More big decisions next month!

4. Any Other Business

It was agreed that after another excellent month we should set a 50p stop-loss on Griffin and continue to monitor it closely.

5. Date and Time of Next Meeting

16^th January 2006 (note unusual date to avoid clashing with Treasurer’s holiday commitments…)

Meeting closed 10.10pm

Minutes of the meeting held on 14/11/05 at Number One Central Social Club

Present: P. Naughton, M. McElhone, M. McAloon, P. Rooney, S. Smith

Apologies:

1.Minutes of Previous Meeting

Not available at meeting

2.Treasurer’s Report

Value of each share in the club: 67.2p

iDealing Account:£341.09

LloydsTSB Account: £257.33

Slush Fund (night out):£45

Value of total assets of the club: £ 19,593(securities) /£ 20,146.91 (net assets

units issued: 29,982

Dividends received this month: Shire £0.55, Dignity 9.35, Cattles £13.13, Prudential £10.60, S&N £18.30

Lovettwatch: £150.53

Average Member worth:£1,260

3. Investment and Dealing

Not enough money to buy this month unless we sell…

It was unanimously agreed that we should sell Exel through iDealing, and invest in further shares in a company in which we already have an interest. We have enough money now to spend £1,000 this month and next.

LloydsTSB – Paddy – takeover rumours and a “steady” share.

Prudential – Marty – they are “buying things” at the moment.

It was unanimously decided that we should invest in LloydsTSB … more or less… a steady share with a good dividend.

Members also wished to note that we have “missed the boat” on P&O, and that Chinese Airlines are “flying high”… God help us. I suppose it beats proper research.

4. Any Other Business

Treasurer has investigated setting an automatic stop-loss on Griffin at 46p. It was agreed that this should go ahead if possible.

It was also mentioned that “LadyKillers”, Consett’s premiere “luxury punk” ensemble are playing their Christmas gig at the Derwentside in Blackhill on December 10^th, and that members may like to attend.

5. Date and Time of Next Meeting

8.30pm 12^th December 2005 at Number One Club.

Meeting closed at 9.45pm

Minutes of the meeting held on 10/10/05 at Number One Central Social Club

Present: P. Naughton, M. McElhone, M. Naughton, M. McAloon, S. Smith, D. Clarke

Apologies: K. McElhone

1.Minutes of Previous Meeting

Signed and added to website

2.Treasurer’s Report

Value of each share in the club: 67p (remember 32.3p?!)

iDealing Account:£236.55

LloydsTSB Account: £476.33

Slush Fund (night out):£30

Value of total assets of the club: £ 19,180.40(securities) /£19,863.28(net assets)

units issued: 29,592

Dividends received this month: Exel £13.30, LloydTSB £16.15

Interest from iDealing £2.44 , Fees to iDealing £5

Lovettwatch: £153.85

Average Member worth:£1,241.51

3. Investment and Dealing

£505.64 was spent last month on further investment in ZiMedical

There was a discussion about Griffin Mining, and after a vote (4-2) it was decided that rather than sell some of our shares in this company they should be monitored as closely as possible and the 20% stop-loss be strictly enforced (currently at 46p). Treasurer agreed to investigate whether this can be set up automatically on the iDealing account.

Possible “sells” discussed were NXT, Romag, Prudential and Exel but it was agreed that nothing should be sold at the moment. However it was also agreed that as we now own shares in 22 companies, we need to consider selling next month and consolidating an existing holding.

There was enough money to buy this month so among others, the following suggestions were voted upon:

Do Nowt – Clarkey – 1 vote

BT – Clarkey – “Time to get back on the horse” – 1 vote

Cattles – Maca – tipped at weekend and expanding (“it’s not just about hitting people with baseball bats”) – 3 votes

LLoydsTSB – Paddy – it’ll creep back – 1 vote

So a further investment in CATTLES WAS AGREED.

4. Any Other Business

We need decent research!

5. Date and Time of Next Meeting

Number One Club 8.30pm on 14/11/05

Meeting closed 9.55pm

Minutes of the meeting held on 12^th September 2005 at Number One Central Social Club

Present: P. Naughton, M. McElhone, M. Naughton, K. Rainbow, S. Smith

Apologies: K. McElhone

1.Minutes of Previous Meeting

Not yet posted on website due to Secretary’s holidays!

2.Treasurer’s Report

Value of each share in the club: 64.7p

iDealing Account:£715.30

LloydsTSB Account: £195.33

Slush Fund (night out):£15

Value of total assets of the club: £ 18,008.42 (securities) /£18,904.05 (net assets)

units issued: 29,202

Dividends received this month: SPEEDY HIRE £7.44

Lovettwatch: £133.96

Average Member worth:£1,184.42

After another remarkably successful trip to the races, £305 was added to the unit price. (A profit of £105)

3. Investment and Dealing

The first discussion was about whether to sell:

EXEL – Beef – they were expected to hit £12 and have. We could bank a £400+ profit. A 3- way vote followed:

SELL THE LOT – 2

BANK A PROFIT – 0

DO NOTHING – 3

So we stay as we are but will review it next month. Members are warned that we may decide to sell next month, leaving us with some big decisions at the next meeting.

There was enough to buy and should be enough to do so again next month, so…

ZI MEDICAL – Marty – they are looking to buy NMT (our old friends “the needle people”)

NMT – Beef – ZI MEDICAL are after them…

ZI MEDICAL won out 3-2 and £500 will be invested tomorrow.

4. Any Other Business

Contributions are invited for the website
Could new members supply Secretary with e-mail addresses to keep up with emergency cut and thrust, and to get the minutes when you can’t be arsed to go on the website?

5. Date and Time of Next Meeting:

8.30pm 10^th October 2005

Meeting closed 9.40pm

tymMinutes of the meeting held on 8^th August 2005 at Number One Central Social Club

Present: P. Naughton, M. McAloon, M. McElhone, D. Clarke, M. Naughton, K. Rainbow, S. Smith

Apologies: K. McElhone

Belated AGM

· Chairman, Secretary and Treasurer to continue in their posts for the next year.

· Member K. Rainbow scrutinised financial records, finding them in order.

1.Minutes of Previous Meeting

Posted on website

2.Treasurer’s Report

Value of each share in the club: 63.3p (up 2.3p on last month)

iDealing Account:£172.22

LloydsTSB Account: £325.33

Slush Fund (night out): £211

Value of total assets of the club: £ 17,923.05 (securities) / £18,209.60 (net assets)

units issued: 28,794

Dividends received this month: Bloomsbury £3.96

Average Member worth: £1144.46

3. Investment and Dealing

Vane Minerals were bought for £512.03

Shareholder M. Naughton sold his shares as follows: £610 to M. McElhone and £403.95 from Shareclub itself. This settles his account at zero and he effectively starts again.

It was agreed by a vote of 6 to 1 that, as proposed by member D. Clarke, we should sell our holding in Bloomsbury, banking a small profit of £40 now that the initial hype surrounding the latest Harry Potter book has died down. This left us in a position to buy, proposals were:

COMPASS – Beef – cos of this Jamie Oliver business and Government backing

Zi Medical – Marty – coming back under new management

BT – Clarkey – “Time to get back on the horse”

COMPASS won out 4-3 after a second round of votes described as “like watching the Ashes”…

4. Any Other Business

The bus for the races leaves Wetherspoons at 12.45 on August 12^th. The £211 in the “Slush” will be spent on bets, with winnings going back into the unit price as before.

Should the Shareclub consider a trip to Pelaw dogs in the winter? Should we sponsor a race?

5. Date and Time of Next Meeting:

8.30pm Monday 12^th September 2005

Meeting closed 10pm

Minutes of the meeting held on 11^th July 2005 at Number One Central Social Club

Present: K. Rainbow, M. McElhone, M. Naughton, M. McAloon, S. Smith, P. Naughton

Apologies: K. McElhone

1.Minutes of Previous Meeting

Posted on website, along with previous 2 months

2.Treasurer’s Report

Value of each share in the club: 61p

iDealing Account:£680.29

LloydsTSB Account: £462.08

Slush Fund (night out):£195

Value of total assets of the club: £ 16,828.50 (securities), £17,775.87 (total)

units issued: 29,128

Dividends received this month: Romag £2.31, Sage £3.87, Mowlem £6.25, Tesco £18.60

Average Member worth: £1,088.55

£5 Admin. Fee was paid to iDealing, and we received an interest of £3.81 from iDealing.

Member M. Naughton, while remaining a member of the Shareclub, effectively wants to start again, by selling his current holding back to the club, but maintaining his monthly Direct Debit.

Member M. McElhone will buy £600 of the shares, and the club will pay a further £433.95 (covered by what we currently have in LloydsTSB account) to make up the £1,033.95 owed to Mr. Naughton.

Members were reminded that they could buy more shares or increase their own Direct Debit at any time, but that they should inform the treasurer of plans to do so.

3. Investment and Dealing

The Shareclub’s holding in Intellego cost £501.23. We were unable to buy shares in Fire Mountain as it is only quoted on the U.S. market. Therefore we had money to spend this month…

Two companies were proposed:

Sanctuary – Marty – prime for a takeover and have a huge back catalogue.

Vain Minerals – Maca – from his “source”. “I presume they mine something.”

With research like this it was inevitable… 4-2 vote in favour of Vain Minerals.

Members were reminded that with the next Harry Potter book due out next month, we should be looking at selling our holding in Bloomsbury, to bank a profit, as was the original intention.

4. Any Other Business

Annual day at the races will be 12^th August at Newcastle. See website for further details.

5. Date and Time of Next Meeting:

Monday 8^th August 8.30 pm

Meeting closed 9.55pm

Minutes of the meeting held on 13^th June 2005 at Number One Central Social Club

Present: Present: M. McAloon, K. Rainbow, M. McElhone, P. Naughton, S. Smith M. Naughton,

Apologies: K. McElhone, D. Clarke

1.Minutes of Previous Meeting

Not yet available

2.Treasurer’s Report

Value of each share in the club: 60.5p (up 1.3p on last month after a couple of poor months, and increased by around 25% in the last year – it was 48.8p in July 2004)

iDealing Account:£902.18

LloydsTSB Account: £431.08

Slush Fund (night out): £180

Value of total assets of the club: £ 17,416.66

units issued: 28,674

Average Member worth: £1065.40

Dividends received this month and last: Shire £1.06, Dignity £7.12, Hilton £11.40, Prudential £21.30, Cattles £24.57, LloydsTSB £35.48 and S&N £35.75

3. Investment and Dealing

From last month:

BOUGHT Dignity £527.83

SOLD Vernalis £397.15

It was unanimously (!) agreed that we should buy 2 sets of shares as we have over £900 in the iDealing account, and there were only 2 proposals:

FIRE MOUNTAIN BEVERAGES (Smithy) – Widely tipped producers of branded, purified, flavoured waters. A potentially big profit if it returns to its annual high of 0.3p… “It’s a great Share to watch…”

INTELLEGO (Michael) – The next big thing in software re-selling, especially e-learning software. Steady rise since floating in December. “It’ll go through the roof…”

We will therefore invest £400 in Fire Mountain and £500 in Intellego.

WE SHOULD AGAIN BE IN A POSITION TO BUY IN JULY!

4. Any Other Business

Races trip on the afternoon of Friday 12^th August. Details on the website .
AGM postponed until next month in the absence of the Chairman

5. Date and Time of Next Meeting:

Monday 11^th July 2005 (AGM!)

Meeting closed 9.40pm

Minutes of the meeting held on 9^th May 2005 at Number One Central Social Club

Present: Present: M. McAloon, K. Rainbow, M. McElhone, P. Naughton, D. Clarke, S. Smith M. Naughton, C. Young

Apologies: K. McElhone

1.Minutes of Previous Meeting

Not yet available

2.Treasurer’s Report

Value of each share in the club: 58.2p

iDealing Account:£440.94

LloydsTSB Account: £634.08

Slush Fund (night out): £164

Value of total assets of the club: £ 16,605.91

units issued: 28,220

Dividends received this month: Treasurer will update at next meeting

Average Member worth: £1010.93

3. Investment and Dealing

It was agreed that we should buy AND sell, so what to buy…?

TOROTRAK (Marty) – they’ve just signed a deal with a gearbox company

D1OILS (Maca) – Trying to make diesel from rape seed. Hippies.

DOMNICKHUNTER (Clarkey) – inside tip

UK COAL (Clarkey) – they own loads of land

DIGNITY (Clarkey) – there’s money in death. Still.

PROCTOR & GAMBLE (Paddy) – inside tip

DIGNITY won the vote, so we will be buying another £500 worth of them tomorrow.

Despite one unprecedented abstention, it was agreed that we should also sell this month, so…

SHIRE (Marty) – because it’s shite

SPEEDY (Beef) – it has peaked

ROMAG (Beef) – it’s about to flatline

VERNALIS (Clarkey) – it’s boring

After 2 rounds of voting (each featuring an abstention) VERNALIS was voted out a narrowly ahead of Shire, and will be sold tomorrow.

4. Any Other Business

Marty will post potential dates for races trip on the website for consultation.

5. Date and Time of Next Meeting:

Monday 13^th June 2005 (AGM)

Meeting closed 9.30pm

Minutes of the meeting held on 11^th April2005 at Number One Central Social Club

Present: M. McElhone, P. Naughton, S. Smith, M. McAloon, K. Rainbow, M. Naughton

Apologies: K.McElhone, D. Clarke

1.Minutes of Previous Meeting

Signed by Treasurer and already posted on website

2.Treasurer’s Report

Value of each share in the club: 60p iDealing Account:£118.65

LloydsTSB Account: £619.08 Slush Fund (night out): £150

units issued :27, 799

Dividends received this month: Sanctuary £3.15, Romag £3.85, Severntrent £11.83

Average Member worth:£1027.20

Value of total assets of the club: £ £16,823.79

3. Investment and Dealing

From last month:

SOLD: Avon £497.04, P&O 534.32, Sanctuary £271.05

BOUGHT: Cattles £1004.35, Prudential 1022.84, Exel £678.16, Vernalis £95.20

There followed a discussion on whether to sell or not this month. In classic shareclub fashion it was a 3-3 draw, with the Chairman providing a resounding “no” as a casting vote, so we will buy next month.

4. Any Other Business

A night at the races is being suggested for the summer, watch this space…

It was agreed that if ZI Medical comes back at 16p or over, we should sell the lot.

The Average Member wished to point out (in the interests of blame culture) that Cattles, our biggest ever single investment, is almost 20% down…

5. Date and Time of Next Meeting:

8.30pm Monday 9^th May 2005 Meeting closed 10.10pm

Minutes of the meeting held on 14^th March 2005 at Number One Central Social Club

Present: M. McElhone, P. Naughton, S. Smith, M. McAloon, K. Rainbow, D. Clarke, J. Milburn

Apologies: K.McElhone

1.Minutes of Previous Meeting

Signed by Chairman and already posted on website

2.Treasurer’s Report

Value of each share in the club: 62.1p iDealing Account:£1,595.90

LloydsTSB Account: £354.08 Slush Fund (night out): £136

units issued :27,381 Dividends received this month: Sage £3.09

Lovettwatch:£116.72

Average Member worth:£1047.62 (A profit of £177 on his/her investment)

Despite his protestations about Greggs, it was pointed out that BP has gone up by around 10% since we sold them last month, and certain members asserted that on the basis of his advice to “sell”, the “average member” is a “tosser”.

Value of total assets of the club: £ £17,002.52 (12 months ago it was £ 10,748.97)

3. Investment and Dealing

From last month: SOLD BP for £1016.89; CORIN for £449.72;SEVERN TRENT for £610.34

BOUGHT SAGE for £513.26; BLOOMSBURY for £519.01

We also accepted an offer to buy more shares in VERNALIS spending approximately £90 at a reduced rate of 70p per share. The treasurer consulted as widely as possible at the time because by waiting for the meeting we would have missed the deadline for buying.

As minuted last month, there was “big money” to spend, and it was unanimously agreed that we should continue to consolidate by selling 3 holdings, buying 2, and increasing our stake in 1.

The holdings sold (after votes and impassioned speeches) were:

P&O – Smithy – “it’s a boring share.”

Sanctuary – Clarkey – “Waste of time. It’s never gonna return.”

Avon – Maca – “It’s never done much.”

With around £2,700 to invest, again it was unanimously agreed that we should increase our holding in an existing share by £700 and add two new shares to the portfolio at £1000 each.

So, the proposals for further investment were:

Griffin – Marty – “because it is great.”

Dignity – Clarkey – “there’s money in death.”

LloydsTSB – Paddy – “calm things down in a berserk month and they give good dividend.”

Exel – Maca – “they are coming back and were tipped again recently.”

Without the benefit of a catchy sales-pitch EXEL won on a 2^nd round of voting.

While the proposals attracting votes for new investment were:

Cattles – Beef – “A firm of debt collectors currently muscling in on smaller firms.”

BT – CLARKEY – “People are coming back to them.”

Prudential – Clarkey – “Due to be bought out.”

Greggs – Smithy – usual patter

ABN Ambro, Vivid Video and UK Coal were all proposed without attracting votes. The Chair informed us of the sad fact that there are now more registered magicians than miners in this country. No. One Shareclub at the cutting edge of lifelong learning through political debate…

Anyway, the votes were cast and the Shareclub decided to make its biggest ever single investment in a firm of Glaswegian debt-collectors none of us had heard of. Oh and a bank too. (CATTLES and PRUDENTIAL getting a £1000 holding in each)

4. Any Other Business

Two potential new members have requested Standing Order forms…

5. Date and Time of Next Meeting:

8.30pm Monday 11^th April 2005 Meeting closed 10.10pm

Minutes of the meeting held on 14^th February 2005 at Number One Central Social Club

Present: M. McAloon, M. McElhone, P. Naughton, D. Clarke, S. Smith M. Naughton,

Apologies: K. Rainbow, K. McElhone

1.Minutes of Previous Meeting

Approved and posted on website.

2.Treasurer’s Report

Value of each share in the club: 61p

iDealing Account:£301.22

LloydsTSB Account: £339.08

Slush Fund (night out): £122

Value of total assets of the club: £ 16,533.65 (up almost £5K since August – “tight fiscal policy” bearing fruit…)

units issued:26,980

Dividends received this month: Speedy £3.99 Avon £10.80

Lovettwatch: over £101

Average Member worth: £1014.43 (a profit of £159.43)

3. Investment and Dealing

As agreed in the minutes from last month, we decided that the number of the holdings in the portfolio should be reduced. It was agreed that 3 should be sold and one bought. The vote for selling decided that those companies to go would be (with blamees attached):

BP – Smithy – “big Russian investment looks unlikely now, and it is never going to get better”

Severn Trent – Paddy – “When the market is bullish, utilities are said to be the first to suffer”

Corin – “We’ve already sold a percentage and it seems a good opportunity to bank a profit”

Other companies attracting votes for a “sell” were Mowlem, Avon, P&O, Sage, NXT, and Shire, all of which live to fight another day.

So with around £2k to bank, a swashbuckling round of “cut and thrust followed…

The first vote was on how to spend the money. Four options were proposed and after two rounds of voting, it was agreed that we should go with the option proposed by Clarkey:

Spend £500 on a new share and £500 on a further investment in an existing share.

Members please note that this leaves a large sum in the bank, which will need to be invested soon. The next meeting should be a big one.

At this point Michael, who had wanted to spend the lot, threatened to leave and form the “Continuity Shareclub” if he doesn’t start getting more success with his impassioned and informed proposals.

So… a new share. There were 3 proposals (blamees attached):

Bloomsbury – Beef – time we got into publishing

ABN AMBRO – Clarkey – usual reasons (see previous minutes)

BT – Smithy – sick of proposing Greggs

Bloomsbury won out with 4 votes and £500 worth will be bought tomorrow.

After a further 2 rounds of voting, Sage won out over NXT for a further investment in an existing stock and £500 will go on that tomorrow too.

4. Any Other Business

Two prospective new members have requested forms.

5. Date and Time of Next Meeting:

8.30 pm 14^thMarch 2005 and there will be plenty of buying and even selling to do!

Meeting closed at an unprecedented 10.10pm!

Minutes of the meeting held on 10^th January 2005 at Number One Central Social Club

Present: Present: M. McAloon, M. McElhone, P. Naughton, D. Clarke, S. Smith M. Naughton, P. Rooney

Apologies: K. Rainbow, K. McElhone

1.Minutes of Previous Meeting

On Website

2.Treasurer’s Report

Value of each share in the club: 55.5p

iDealing Account:£313.80

LloydsTSB Account: £574.08

Slush Fund (night out): £108

Value of total assets of the club: £ 14,770.60

units issued: 26,577

Dividends received this month: Mowlem £7.25; Interest from iDealing £2.85; Admin. Fee to iDealing £5.

Lovettwatch: £69.65

Average Member worth: £901.45

3. Investment and Dealing

· £522.19 spent on holding in Speedy Hire

And so to the “Cut and Thrust”, described by the Chairman as “above average”, as he congratulated members afterwards…

Ø Royal and Sun Alliance – Pat – They got rid of their dodgy insurance and pensions side and are set to announce good figures on March 10^th.

Ø Shufflemaster – Michael – make card-shufflers, hold all Vegas patents, and were tipped by “Motley Fool” (Oh Lordy… check it out… http://www.shufflemaster.com/ )

Ø CenterParcs – Beef – Good results and 90% occupancy at the moment and the weather’s crap.

Ø NTX – Marty – Make flat loudspeakers, and mobile phone companies are interested. Went up 25% on Friday.

Ø Warthog – Maca – computer games company. “Eidos or someone are looking at them.”

Ø Chinese Airlines – Smithy – about to float and “the Chinese have never let us down”… “and there’s loads of them…”

Ø BT – Clarkey – “It’s about time we got back into telecoms”

Tiger Resources and My Travel were mentioned as ones to watch for the future.

Voting: (you’ve guessed it…) CHINESE AIRLINES 5, CentreParcs 1, Shufflemaster 1

However it was feared that Chinese Airlines may not yet be available, so a second and third round of votes saw NTX win out 4-3 over Shufflemaster.

4. Any Other Business

· The redesign on Lambert and Butler tab packets was praised

· Can members review holdings with a view to removing some “dead wood” next month?

· Website will be updated to feature a “who-picked-that?” Blame League

· Could members please actively look for new members? It is felt that we have room for two more.

5. Date and Time of Next Meeting:

Monday 14^th February 2005

Meeting closed 9.50pm

Minutes of the meeting held on 13^th December 2004 at Number One Central Social Club

Present: K. Rainbow, M. McAloon, M. McElhone, P. Naughton, D. Clarke, S. Smith

Apologies: M. Naughton, K McElhone

1.Minutes of Previous Meeting

Posted on website

2.Treasurer’s Report

Value of each share in the club: 53.7p (highest since Jan 2002) which shows that the Chairman’s tight fiscal policy is reaping dividends. He reckons.

iDealing Account:££830.89

LloydsTSB Account: £309.08

Value of total assets of the club: £ 14,062.89

units issued: 26,126

Dividends received this month: P&O £5.40; BP £7.31, Tesco £9.68

Ave. Member worth: £870.67 (profit of £45.67)

3. Investment and Dealing

· 86 shares in Corin sold for £287.19

· 190 shares in Hilton bought for £515.83

· Member G. Naughton received £138.82 when cashing in his shares

· Member M. McElhone denied any personal rift between himself and ex-member P. Dodds, and has bought out the shares owned by his former partner… While it was pointed out that any members may buy extra shares at any time, objections were nevertheless raised from the floor. In what one member described as a bit of “festive hostility”, Mr. McElhone invited the objectors to “buy as many as you want and stick them up your arse.” It was formally agreed that as long as he is prepared to continue as treasurer, investigations will go no further at this time.

· With £830.89 to spend, and after agreeing to buy this month and again next,the “cut and thrust” went as follows:

Ø SPEEDY HIRE – Paddy – expanding hire firm, price has risen recently, but is widely tipped to continue

Ø WARTHOG – Maca – Games company trading at 1p, tipped by Maca’s “source”

Ø TATE & LYLE – Beef – took a drop of 18 ½ p on Friday because “some Nazi sold his shares and their new sweetener is meant to be the business.”

Ø ABN AMBRO – Clarkey – “my Dutch Bank again”. They sponsor Ajax and are in bed with a Spanish bank, and one of them’ll get bought.

Ø TOROTRAK – Marty – “They reckon they’ve got a buyer in January.” Aye. Right.

Ø TRAIDCRAFT – Clarkey – “Ethical investment…”

There followed 2 rounds of voting…

Round One: SPEEDY 2, TATE & LYLE 2, WARTHOG 1, ABN AMBRO 1

Round Two: SPEEDY 3, TATE & LYLE 3

So… Member J. Smith broke his duck with a casting phone vote in favour of SPEEDY HIRE.

4. Any Other Business

The Chairman wished members a “Very Merry Christmas.”

5. Date and Time of Next Meeting:

Monday 10^th January 2005

Meeting closed: 9.40pm

Minutes of the meeting held on 8^th November 2004 at Number One Central Social Club

Present: P. Naughton, D. Clarke, P.Rooney, M. McElhone, C. Young, M.McAloon, K. Rainbow, S.Smith, M. Naughton

Apologies: K. McElhone

1.Minutes of Previous Meeting

Posted on Website: http://www.no1shareclub.co.uk/

2.Treasurer’s Report

Value of each share in the club: 51.8p

iDealing Account:£537.14

LloydsTSB Account: £682.90

Value of total assets of the club: £13,488.46

units issued 25,960

Dividends received this month: Shire £0.53 / Corin / £1.15 / Dignity £3.56 / S&N £17.86

“SLUSH” / Night Out fund: £80

3. Investment and Dealing

TESCO: Sold 70 shares = £190.43

M&S: took price offered at £492.32 = £1 loss

GRIFFIN: bought at £536.22

In the “cut and thrust” concerns were expressed that we now have a £1700 investment in a Chinese gold mine…

Suggestions were invited for this month’s purchase…

· BT (Pat / Dave) They have moved into the U.S. with a £1bn investment and plan to expand by buying out smaller companies, although it was felt that it may be better to leave it to next time

· HILTON (Stephen) “I’ve lost plenty of money there…”

With the temptation of “Super-Casinos” and short term concerns over BT, HILTON won out 7-2 in the vote.

There followed a discussion about CORIN and this led to a vote:

· Do Nowt – 1 vote

· Take Profit - 4 votes

· Sell the Lot – 3 votes

This decision means we make 2 investments at next meeting… or one big £800 punt!

4. Any Other Business

The proposed night at the dogs has been shelved until after Christmas. The question was asked: should we sponsor a race to celebrate 5 years of Shareclub?

5. Date and Time of Next Meeting:

Monday 13^th December 8.30pm

Meeting closed 9.50pm

Minutes of the meeting held on 11^th October 2004 at Number One Central Social Club

Present: P. Naughton, M. McElhone, K. Rainbow, M. McAloon, S. Smith

Apologies:M. Naughton, K. McElhone

1.Minutes of Previous Meeting

Accepted as a true record and signed by the treasurer

2.Treasurer’s Report

Value of each share in the club: 51.6p (up 1.3p on last month and at highest point since 7.1.02)

iDealing Account:£117.51

LloydsTSB Account: £651.90

Value of total assets of the club: £13,152.70 (£12,447.29 in shares)

Therefore the average member is actually £8.41 in profit!

units issued: 25,463

Dividends received this month: EXEL £4.93; LLOYDSTSB £16.15; SEVERNTRENT £19.02

Admin fees of £5 paid to iDealing / Interest from iDealing £1.81

Night Out / Slush:£64

3. Investment and Dealing

We were not in a position to buy as Ged Naughton’s imminent profit-taking, Spain-visiting departure from the Shareclub means money will have to be held back to pay him off. He will receive roughly 270 x the unit price, which if it stays the same as this month, will give him £138.

However…

…in the true spirit of Number One Shareclub cut and thrust, it was unanimously agreed that if we took the profit made on Tesco (£200) and re-invested, we could buy this month.

We lit the blue touch paper and stood back to admire the following profound pieces of research:

Hilton – Beef – “Big John McCririck told us on Saturday that the Gambling Industry is making £43bn a year or something… and hotels are on the up since 9/11.”

Tate & Lyle – Beef – “They’ve developed a new sweetener that doesn’t taste horrible.” However, Marty has Golden Syrup on his porridge, and Paddy had a dream about sugar…

A couple of other non-starters, like Greggs, and then the inevitable:

Griffin – Marty – “Not Griffin, surely…”

Two rounds of voting produced the inevitable 3-2 victory to Griffin over Hilton, so Griffin becomes the first company to boast 3 separate £500 investments in our portfolio at one time…

While not everyone was for Griffin the unanimous feeling of the meeting was: “If you don’t like it, come to the meetings!”

4. Any Other Business

· It was agreed that an offer made by Marks and Spencer to buy our shares at £3.80 each was worth taking up, if it was for no less than £3.80. This would bank a small profit of £12.84 after dealing fees, but was reckoned worth it as the company looks unsure at the moment and we are the stockmarket kings of Consett (North)…

· The proposed night at the dogs is “on the backburner” as the lads don’t like to make big decisions when there are so few at the meeting…

5. Date and Time of Next Meeting:

Monday 8^th November 8.30pm

Meeting closed 10.10pm

Minutes of the meeting held on 13^th September 2004 at Number One Central Social Club

Present:P. Naughton, K, Rainbow, M. McElhone, M. McAloon, S.Smith

Apologies:K. McElhone, D. Clarke, M. Naughton

1.Minutes of Previous Meeting

Accepted as a true record and signed by the treasurer

2.Treasurer’s Report

Value of each share in the club: 50.3p (up 2.7p on last month and highest since 3.2.02)

iDealing Account:£584.24

LloydsTSB Account: £370.90

Value of total assets of the club: £12,575.41 (£11,668.27 in shares)

units issued 24,951

Dividends received this month: BP £3.50 approx

3. Investment and Dealing

There followed the usual eclectic round of proposals, based on the thinnest of evidence…

Griffin – Stephen Smith: no comment needed

ITV – Maca: May go totally digital, and advertising is on the up

BP – Stephen: Recovering and oil prices flying

Shell – Beef: Why not if BP is rising?

Dignity – Marty: Top up time?

Corin - “ “ “

Mowlem – Paddy – Top up now that they are close to a return to profit

Games Workshop – Beef – Popping up all over the place since Lord of the Rings

Vote:

BP 2 / Dignity 1 / ITV 1 / Mowlem 1

If money is through there will be enough to buy next month.

4. Any Other Business

The trip to the dogs was again suggested, and the response seemed in favour:

“Aye”…”I’d fancy it”…”Clarkey’s good at organising that sort of thing”…

5. Date and Time of Next Meeting:

8.30 pm 11^th October 2004

Meeting closed 9.35

Minutes of the meeting held on 9^th August 2004 at Number One Central Social Club

Present: P. Rooney, M. McElhone, D. Clarke, P. Naughton, M. McAloon, C. Young, M. Naughton

Apologies: K. McElhone, K. Rainbow

1.Minutes of Previous Meeting

Not available at time of meeting

2.Treasurer’s Report

Value of each share in the club: 47.6p – down 1.2p on last month, and lowest since April

iDealing Account:£80.77

LloydsTSB Account: £589.90

Value of total assets of the club: £ 11,638.05 (£10,999.38 in shares)

units issued:24,437

Dividends received this month: none

Night Out Slush Fund: £32

Approximate value of ordinary member’s shares: £713

3. Investment and Dealing

Following last meeting:

Rank sold for £484.95

M&S bought for £506.42

Avon Rubber bought for £530.09

There would be enough money to buy this month if we transferred funds generated by the successful night at the races (currently in LloydsTSB account) but there was insufficient enthusiasm for any of the following suggestions: (of course we have to list them so people can say, “told you so”, an inevitable consequence of our policy of “Blame Culture”…)

Scottish and Newcastle – Clarkey – ripe for takeover

Griffin – Marty – “you know why”

Northern Rock – Clarkey

Stanley Leisure – Pat – at 390 now, we sold at 451

London Clubs International – Michael

BSKYB – Maca – has dropped 18% in 3 days

“Cash one in for a night on the piss” – Michael

Suggestions for further investigation prior to a possible buy in September:

· Aben Ambro Bank

· Tiger Resources

· Anything in the motor trade

4. Any Other Business

Who fancies a trip to the dogs at Christmas?

5. Date and Time of Next Meeting:

Monday 13^th September 2004 8.30pm

Meeting closed 9.25pm

Minutes of the meeting held on 12 July 2004 at Number One Central Social Club

Present: M. McElhone, M. McAloon, K. Rainbow, M. Naughton, S. Smith

Apologies: P. Naughton, K. McElhone

1.Minutes of Previous Meeting

2.Treasurer’s Report

Value of each share in the club: 48.8p

iDealing Account:£632.33

LloydsTSB Account: £92.84

Value of total assets of the club: £11,647.61 (£10,938.44 in shares)

units issued: 23,888

Dividends received this month: Sage £1.09, Corin £1.92, Romag £1.92, Mowlem £12.75,

Tesco £20.17. Also received £2.27 interest from iDealing

Admin. Charges of £5 were paid to iDealing.

3. Investment and Dealing

· After a phone vote canvassing those who had attended the meeting, , we bought ZiMedical after last meeting

· Part of our holding in TenAlps was sold, taking some profit, and raising £446.50

· The Race Night success returned a glorious £200 to club coffers!

This month’s “cut and thrust” involved the following:

Zytronic – Maca – Local Company, good deals in the U.S.

Marks and Spencer – Maca – current price 364p offer price said to be 400p

Avon Rubber – Beef –contract with U.S. Government for 300, 000 gasmasks a year for

ten years…

Griffin – Marty – “30% nailed on profit”

Avon Rubber won the day, but it was also agreed that we should sell Rank, as it was doing nothing and buy M & S.

4. Any Other Business

Only the usual self-congratulation after the success of the races trip…

5. Date and Time of Next Meeting:

Monday August 9^th 8.30 pm

Minutes of the meeting held on 10^th May 2004 at Number One Central Social Club

Present: P. Rooney, M. McElhone, D. Clarke, P. Naughton, M. McAloon, K. Rainbow

Apologies: K. McElhone

1.Minutes of Previous Meeting

Accepted as a true record and signed by treasurer

2.Treasurer’s Report

Value of each share in the club: 48.2p

iDealing Account:£688.68

LloydsTSB Account: £463.34

Value of total assets of the club: £ 11,008.31 (£10,049.29 in shares)

units issued:22,782

Dividends received this month: Sanctuary £2.80 / Exel £9.74

Night Out Slush Fund: £193

3. Investment and Dealing

A question was raised for members to ponder and respond to at the next meeting: Is there anything in the portfolio which we think is underperforming (i.e.dead money) and we could legitimately sell to release funds for other investments?

…and so to the cut and thrust…

An incredible month for research (!) led to four selections described by the club chairman as an “excellent and unprecedented range of selections”:

Griffin (oh Lordy…) – Maca – Results due this week. Tipped in Telegraph and considered ripe for takeover. Also owns a small company in India which is said to be due for takeover. All this thanks to a late night hushed phone call…

GE Healthcare – Michael – They own a company called Amersham, which is the name of a really good pub in New Cross, and their head office is in Chalfont St. Giles…arf …arf…

Derbo – Beef – Make sausage skins, “and now foot and mouth is over, sausages are on the increase…”

Dignity – Marty – Britain’s biggest funeral directors. Very acquisitive and looking to expand. “They did the funerals of the Krays and Charlie Richardson, so we can expect plenty of good , free publicity with those horses all dressed up, processing through London, because there must be plenty more old time gangsters ready to die.”

As we have £900 ready to invest it was unanimously agreed that we should go for (more) Griffin, as Consett Klondyke Shareclub holds its bottle, and of course the gangster funeral company, Dignity, in a £400 /£500 split.

4. Any Other Business

After much discussion, the night out has been booked for Newcastle Races on June 25^th. See website http://www.no1shareclub.co.uk/ for details. Final arrangements to be discussed at next meeting.

5. Date and Time of Next Meeting:

Monday 14^th June 2004 8.30pm

Meeting closed 9.50pm

Minutes of the meeting held on 5^th April 2004 at Number One Central Social Club

Present: M. McElhone, P. Naughton, S. Smith, M. McAloon, K. Rainbow, M. Naughton, C. Young

Apologies: K.McElhone, J. Murray

1.Minutes of Previous Meeting

Minutes from last month’s meeting accepted as a true record and signed by the treasurer.

2.Treasurer’s Report

Value of each share in the club: 47.7p (down 1.7p on last month, first drop since October)

iDealing Account:£645.56 (£3.30 interest from iDealing this month, and £5 quarterly admin. fees paid. iDealing giveth and iDealing taketh away…)

LloydsTSB Account: £432.34 (“Slush Fund” for night at races: £177)

Value of total assets of the club: £10,615.01 (22,235 units issued)

Dividends received this month: Sage £1.97, BP £3.30.

“Lovettwatch”: £31.33

3. Investment and Dealing

· Mowlem was bought last month. (250 shares @ £2.0763 = £531.68)

In a very busy month for the “cut and thrust”, 6 shares were suggested:

Ø ITV (Maca) Rumoured still for German takeover, Maca has been “watching them”

Ø Trinity Mirror (Micky) priced low, and would represent a different sector (publishing)

Ø Severn Trent (Paddy) Govt. increasing green initiatives, and they own loads of bin wagons

Ø Ashtead (Beef) They hire out plant vehicles and “we’re gonna run out of tractors in this country cos they’re sending them all to Iraq…”

Ø London Clubs International (Marty) Suggested a couple of years ago, shares have recovered recently

Ø Sunderland AFC (Stephen) dropped 20% today following yesterday’s cup defeat “They were the biggest losers on the day” (Stephen) “Football was the biggest loser” (Charlie)

There were 2 rounds of voting after which Severn Trent won out 4-3 over SAFC. Charlie made the casting vote, with the following prudent fiscal declaration: “I remember them when they were just Four Trent, and I expect them to be Fifteen Trent within the year.” God help us…

Meanwhile, a certain treasurer who has, in the past, demonstrated his willingness to exploit Third World tobacco companies, pornography, cloning and war profiteering refused to vote for SAFC, because “you have to draw the line somewhere.”

4. Any Other Business

· Following a vote, it was agreed that the Shareclub should be ready to act immediately following any natural disasters or terrorist outrages. It may sound cynical, but as was pointed out, the reality is that we have lost money on our portfolio following similar events in the past. The chairman / Treasurer / Secretary will act quickly to buy further shares in BP or LloydsTSB, should the occasion arise.

· MyTravel has hovered round the stoploss and there is some uncertainty over its future. It seems there are two options, either a “debt for equity” swap (bad news for shareholders), or a rights issue (good news). Under the circumstances it was felt that we should vote on whether to keep or sell our stake. It was decided by 4 votes to 3 that we should keep the shares but watch them as closely as we can.

· Shareclub night at the races. (Friday 25^th June): Member Rainbow proposed that the Chairman would be an excellent person to get 16 tickets sorted out and book a 16 seater bus. The Shareclub will pay transport and fund a few bets – any profits will be returned to the shareclub as they were last year.

5. Date and Time of Next Meeting:

Monday 10^th May 8.30pm

Meeting closed 10.10pm (!!!)

Minutes of the meeting held on 8^th March 2004 at Number One Central Social Club

Present: M. McElhone, P. Naughton, S. Smith, M. McAloon, M. Naughton, J. Murray, C. Young (the latter two arriving too late for the “cut and thrust”)

Apologies: K.McElhone, K. Rainbow, D. Clarke, G. Naughton

1.Minutes of Previous Meeting

Accepted as a true record and signed by the Treasurer in the Chairman’s absence.

2.Treasurer’s Report

Value of each share in the club: 49.4p (up 0.4p on last month, but down on a mid-month price that went over 50p)

iDealing Account:£923.70

LloydsTSB Account: £397.34

Value of total assets of the club: £ 10,748.97

units issued : 21,687

Dividends received this month: £3.98 from Stanley Leisure

Lovettwatch: Just under £33

“Summer Night Out (see below) Fund: £161

3. Investment and Dealing

Just before we could start, our esteemed treasurer took a call on his mobile, just to prove his status as a captain of industry…

Selling

· Our stake in Stanley Leisure was sold for £644.55 following the last meeting

· Part of our stake in Griffin Mining was sold for £478.75 following the last meeting

Buying…

Six companies were suggested in an unprecedented display of interest by the 5 members who were present at this point in the meeting:

Ø Severn Trent (2 Biffa wagons sighted on Team Valley as recently as today)

Ø LloydsTSB (down again today, surely they must climb soon)

Ø Borland (U.S. Computer programming language developer, tipped to be taken over by Microsoft eventually)

Ø Trinity Mirror (We have no “proper” media holdings at the moment, and the price has hit a low)

Ø ITVplc (The Germans are looking at them… but as Stephen says, “do we want to get into bed with the Germans?”)

Ø Mowlem (building contractors tipped to pick up contracts from U.S. Government in Iraq)

In the first round of voting, ITV who members have watched for a while (oh Lord…), lost out to Mowlem and Trinity Mirror. The appealing combination of war profiteering and community work saw Mowlem prevail by 3 votes to 2.

Please note that there is still enough money to buy for each of the next two months… and we haven’t even mentioned Vivid Video…

4. Any Other Business

§ Ged Naughton was officially welcomed as a new member. It was pointed out that when he spent a year in Africa Newcastle won about 17 consecutive games. They lost to Grimsby on the very day he returned… Anyone feel another Marconi coming on?

§ Our annual night out will be at Newcastle Races on Friday June 25^th, the night before Plate Day, so it will be advisable to book in advance. Names at next meeting please.

5. Date and Time of Next Meeting:

Monday 5^th April 2004 (please note change of date as April 12^th is Easter Monday)

Meeting closed: 9.30pm

Minutes of the meeting held on 9^th February2004 at Number One Central Social Club

Present: D. Clarke, M. McElhone, P. Naughton, S. Smith, M. McAloon, K. Rainbow

Apologies: J. Murray, P. Rooney

1.Minutes of Previous Meeting

Accepted as a true record and signed by Chairman

2.Treasurer’s Report

Value of each share in the club: 49p (but rose to 49.5p during the course of today)

iDealing Account: £64.55

LloydsTSB Account: £366.34

Value of total assets of the club:£10,406.28

Dividends received this month: None

“night Out / Slush Fund”: £145

Lovettwatch:£32.52

Any resemblance to people living or dead is purely accidental…

3. Investment and Dealing

SELLING

· As Griffin was showing a healthy profit of around 47% it was agreed that we should sell approximately £500 worth of our shares (voted 4-2 in favour). Thanks to Maca for a sound tip, described by the chairman as being “in keeping with the prudent fiscal policies of one of North Consett’s leading Shareclubs.” (Check out the “Thoughts of Chairman Dave” at http://www.no1shareclub.co.uk/ )

· N>It was unanimously agreed that we should sell our holding in Stanley Leisure (up 28%). Thanks to Beef for originally suggesting Stanley Leisure.

· As the above sales released funds, it was agreed that we should buy both this month and next.

BUYING

· In our unprecedented state of comparative weallth, various possibilities were mooted by members who will remain anonymous… see if you can guess:

“Sell everything and just buy more shares in Griffin”

“Wind the club up, take the money and run…”

“Vivid Video, I tell you… has anyone seen the Porno Valley on Sky?”

In the end the cut and thrust took over. With extra funds available to buy next month, there was a vote for this month, which went as follows:

Round1:Severn Trent (because they have Biffa wagons) 2

Tenalps (increasing our stake in a market sector tipped to rise) 2

LLOYDSTSB (increasing stake in something dependable?) 1

Friends Provident 1

So it was a draw. After a second round of voting, described as “shite”, Tenalps came out 4-2 winner. I think it was Marty’s tip.

4. Any Other Business

Two potential new members have approached the Shareclub. (Ged Naughton and Steven Hunt) Their actions were described by members as “coming in flagwaving like the Yanks at the end of the war. Where were they at the Torotrak Dunkirk or the Marconi Monte Cassino?” (Never short of a military metaphor these boys!) Nevertheless any application is likely to be approved.

5. Date and Time of Next Meeting: Monday 8^th March 2004

Meeting closed: 9.50 pm

Minutes of the meeting held on 12^th January 2004 at Number One Central Social Club

Brought to you by Crimestoppers…

Present: D. Clarke, M. McElhone, P. Naughton, S. Smith, M. McAloon, K. Rainbow

Apologies: K.McElhone, M. Naughton, and the usual absence of pasties.

1.Minutes of Previous Meeting

· Accepted as a true record and signed by chairman

· If we were to have t-shirts made, the treasurer reported that they would be £7.50 each

· Our Marconi shares are “warrants”

2.Treasurer’s Report

Value of each share in the club: 46.2p (the average member’s holding is worth approx. £595)

iDealing Account:£573.97

LloydsTSB Account: £101.34

Value of total assets of the club: £ 9,559.62

units issued 20,668

Dividends received this month: £3.47 (BP)

“night Out / Slush Fund”:£130

£5.45 interest received from iDealing

£5 Quarterly administration fees paid to iDealing

New Feature – “Lovettwatch”… now that things are slowly improving, certain members suggested that we should publish a figure which shows how much growth a hypothetical Shareclub member would have missed out on if he hypothetically withdrew his holding in November instead of just leaving it alone to grow. At the moment it is a hypothetical £11.30

3. Investment and Dealing

After 3 rounds of voting, described as “mildly tense” the 6 members in attendance were in a 3-3 deadlock over the following:

· Mytravel – a company which runs “Airtours” and “DirectHolidays” and has had favourable reports, notably in The Mail, as well as appealing to the Shareclub “vision of the villa in Lanzarote” (Smithy gets a wet fortnight in February)

· Vodafone – tipped in Express and widely fancied

BT, JDWetherspoon, and HSBC had been eliminated in the first 2 rounds.

With an unprecedented move, described as “cutting edge” by observers, member M. Naughton was contacted by mobile phone (set on “speakerphone”) and his casting vote went in favour of Mytravel.

Our IT department can’t buy first thing in the morning because he has “got a meeting”. He was reminded of the need to produce pasties (filled ones) from this meeting as ordinary members were becoming restless with the absence of snacks on the bar.

4. Any Other Business

Some of the information on ADVFN regarding Griffin and Marconi is inaccurate. Treasurer and IT department/failed pastie provider will deal with the problem.

Member K. Rainbow wished it to be known that he bought a pastie in the Metro Centre outlet of a well-known local baker and there was no filling in it. And he’d paid for it.

5. Date and Time of Next Meeting:

Monday 9^th February 2004 (Pubwatch allowing)

Meeting closed: 9.30

Minutes of the meeting held on 10^th November 2003 at Number One Central Social Club

Present: M. McElhone, P. Naughton, M. McAloon, K. Rainbow, J. Murray, M. Naughton

Apologies: K.McElhone, D. Clarke

Late: S. Smith

No pastries: S. Smith

1.Minutes of Previous Meeting

Minutes from last monthly meeting were “left at home with the pies” by Mr. Smith, who acted as secretary last month. Up to a point.

2.Treasurer’s Report

Value of each share in the club: 44.9p (up 0.3p on October)

iDealing Account:£881.55

LloydsTSB Account: £321.34

Value of total assets of the club: 811.88

19606 units issued

Dividends received this month: Rank £7.68

LloydsTSB £16.15

Dominick Hunter £6.60

There is currently £100 in the fund for a night out next summer.

A cheque for £295 was issued to former member Gary Lovett, who has decided to sell his shares in the club. The rest of us continue to live the dream…

3. Investment and Dealing

A small amount of research produced

two interesting options for members:

· ROMAG – a company making bulletproof glass, based in Leadgate

· 3DM WORLDWIDE – environmentally friendly moulders of a new kind of plastic. (The Daily Mail had a piece about them, which mentioned Evel Knievel…)

One predictable option:

· GREGGS – no pies, no shares… not even in the Day- old Shop on Westgate Road

One traditional option:

· VIVID VIDEO – purveyors of Grumbleflicks to the masses

One pisstake option:

· LEEDS UNITED – fading premiership outfit and sometime monkey sanctuary

…and one horse:

· *****’s *** - running in 2 weeks at Southwell. We had to go anonymous on this one for fear of attracting the attention of the Jockey Club. Watch the website nearer the time, punters…

Anyway the attraction of bulletproof glass and the thought of “putting a bit back” into a local firm was irresistible and a unanimous vote went in favour of ROMAG.

4. Any Other Business

The website was again praised, this time as “lovely, especially the mouserunning thing”, where you run your cursor over a picture and it changes.

5. Date and Time of Next Meeting:

Monday 8^th December 2003

Meeting closed 9.25pm

Minutes of the meeting held on 8^th September 2003 at Number One Central Social Club

Present: M. McElhone, P. Naughton, S. Smith, M. McAloon, K. Rainbow

Apologies: K.McElhone

1.Minutes of Previous Meeting

Minutes from last 3 monthly meetings accepted as a true record and signed by the treasurer.

2.Treasurer’s Report

Value of each share in the club: 45.5p (highest since 8//7/02)

iDealing Account:£404.74

LloydsTSB Account: £518.34

Value of total assets of the club: £8687.91

19018 units issued

Dividends received this month: S & N: £52 (our largest dividend so far)

3. Investment and Dealing

· Thanks to the excellent horse tipping of members Smith and Rainbow, the £250 that was taken for the “Annual Shareclub Night Out”, was actually returned intact, and has been deposited in the iDealing account for the benefit of all members.

· Enquiries have shown that “warrants” in Griffin Mining (God Bless them) represent the right to buy a certain number of shares (in our case 200) at the bargain basement knock-down price of 12p. If this proves true then it was the opinion of the meeting that we should indeed fill our boots… well it is only 24 quid…

· Selling: As we anticipated, the growth of some of our holdings (arf, arf) has now put us in the position to sell. It was agreed that 2 holdings should be sold, Domnick Hunter (up 36%) and Peacock Group (up 38%). Details of exact figures may appear on the ever-amusing website (www. no1shareclub.co.uk) and will be available at the next meeting.

· With all this raking in of overdue profit, it was agreed that we should make 2 buys this month. In the first round of voting TESCO (Paddy) defeated Griffin (Marty), Scottish Utilities (Smithy) and Provident Financial (Beef),

· A second, incredibly tense vote saw Griffin (oh Lordy…) prevail over Scottish Utilities, Merseyrail and Lastminute.com., a purchase which Beef described as “exhilarating”.

· There’s gold in them thar hills… Grasshopper…

· There will be enough money from sales of stocks and subscriptions to buy for the next few months.

4. Any Other Business

Potential new member Ged Naughton is impressed by the trip to the dogs and the gags on the website and freely admits, “I know ***k all about shares and that”… he is definitely one for the future.

It is hoped that there will be more time for pastry next month as Smithy failed to come up with the goods this time. It was generally felt that he is now so high up in Greggs that delivery should be actively considered.

5. Date and Time of Next Meeting:

Monday 13^th October 2003

Meeting closed 9.55pm

Minutes of the meeting held on 11^th August 2003 at Number One Central Social Club

Present: M. McElhone, P. Naughton, S. Smith, M. McAloon, D. Clarke, K. Rainbow, J. Murray, C. Young

Apologies: K.McElhone

1.Minutes of Previous Meeting

Same old story, but they’ll be ready for next month.

2.Treasurer’s Report

Value of each share in the club: 42.4p

iDealing Account:£102.74

LloydsTSB Account: £482.23

Value of total assets of the club: £7844.32 (including £305 in the “Christmas” fund…)

18482 units issued

Dividends received this month: PEACOCKS: £15.60

3. Investment and Dealing

· We will be in a position to buy next month.

· Now that things are healthier, it was agreed that we should discuss selling shares and the “stop-loss” at next month’s meeting too.

· We have 200 “warrants” with Griffin Mining, can we find out what that means?

4. Any Other Business

The bus for the races night out will leave Wetherspoons at 4.30pm on Friday 22^nd August and expects to be back in Consett around 9pm.

The website is entertaining everybody…

It was suggested that since Smithy is now an employee of Gregg’s, he should get the buffet in for each meeting, or at least a few sausage rolls, otherwise he might find himself subject to a hostile takeover…

5. Date and Time of Next Meeting:

Monday 8^th September 2003 8.30pm

Meeting closed 9.20pm

Minutes of the meeting held on 14^th July 2003 at Number One Central Social Club

Present: M. McElhone, P. Naughton, S. Smith, M. McAloon, D. Clarke, J. Murray,

Apologies: K.McElhone, M. Naughton

1.Minutes of Previous Meeting

These were not available as the secretary has been very busy, right, but they are on the website…

2.Treasurer’s Report

Value of each share in the club: 40.7p (the highest it has been for a year)

iDealing Account:£595.3

LloydsTSB Account: £222.2

Value of total assets of the club: £7317.56

17898 units issued

Dividends received this month: SAGE: 99p M: 596p

TESCO: 866p

It was also mentioned that our old friend TOROTRAK …never fall in love with a share… was looking lively at the moment and had been tipped in the Daily Express.

next fixture

consett no1 sharecub

consett no1 shareclub

earlier minutes

However…

Selling

Buying…

BUYING

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