consett no1 shareclub
Minutes of Meeting held on
12th May 2008 at Number One Central Social Club
(And AGM, marking 8 years
of the Shareclub)
Present: P. Naughton, M.
McAloon, K. Rainbow, S. Smith, M. McElhone, M. Naughton
Apologies: K. McElhone, D.
Clarke
Election of Officials
All officials agreed to
continue in the same position for the coming year (including the
Chairman who wasn’t even there) and were returned unopposed.
Minutes of Previous
Meeting
None, because the pen was in
Edinburgh
Treasurer’s Report
Value of Each Share in Club:
98.07p (up from 94.9p at the May 2007 AGM)
iDealing Account: £3808.83
LloydsTSB Account: £189.90
Slush Fund (Night Out): £226
Value of total asset s of
the club: £30, 032.24 (securities) / £33,804.97 (net assets)
Units issued: 32,941.07
Dividends received this
month: LloydsTSB £192.16
Average Member worth:
£2367.13 (up from £2,088 in May 2007)
Investment and Dealing
Scottish and Newcastle
shares were sold automatically today following the Heineken
takeover. We held 375 shares and received £8 a share (£3000).
Member K. Rainbow has with
drawn £1,499.28, but we still go into the “cut and thrust” with an
unexpected £2,300 burning a hole…
The 2 options attracting
support ere:
Ladbrokes – Paddy – It has
come back a bit, so let’s consolidate our small holding.
“Do some proper research” –
Maca – flying in the face of Shareclub tradition.
Nighthawk, Griffin and
Corsie were also suggested.
As the S&N sale had taken us
by surprise, it was agreed that we should spend £1,000 on
Ladbrokes and hold onto the rest, enabling us to buy in each o
f the next 2 months.
Any Other Business
The absence of Member P.
Rooney was noted, as it was felt that with his leg in plaster he
couldn’t be at work, so he had no valid excuse.
Members are reminded that
the trip to the races will be on the AFTERNOON of Friday August 15th.
Date and Time of Next
Meeting:
Monday 9th June 8.30pm Number One Club
Minutes
of Meeting held on 14th 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 27th) for our
next members’ night out.
Date
and Time of Next Meeting: 11th February 2008 8.30pm
Number One Club
Meeting
closed 9.20pm
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