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