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^th March 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