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