consett no1 shareclub
Minutes of Meeting held on 10th October 2011 at Number One Central Social Club
Present: P. Naughton, M. McElhone, K. Rainbow, S. Smith, M. McAloon
Apologies: M. Naughton, K. McElhone
Minutes of Previous Meeting
Circulated at meeting and added to website http://www.no1shareclub.co.uk/
Treasurer’s Report
Value of Each Share in Club: 72.14p
iDealing Account: £1,535.14
LloydsTSB Account: £1127.62
Slush Fund (Night Out): £207 (all money from cricket tickets back in fund)
Value of total assets of the club: £28,015.04 (securities) / £33,419.97 (net assets)
Units issued: 46,325.94
Dividends received since July meeting: GREGGS £23.78; AEC £10;
CINEWORLD £18.90; BP £31.59
Average Member worth: £2,428.27 (down £41 plus 3 months payments since July)
Investment and Dealing
- All holdings are down in the last 3 months except Dignity and Greggs.
- Money previously listed as Euros in account is now listed in sterling.
- The monthly direct debit payment to the broker will be increased from £300 to £400 as subscriptions now total £402 per month
It was unanimously agreed that nothing would be sold this month, but that we had enough funds to buy two sets of shares.
The lucky companies were… and you’re gonna love this…
GENUS – Beef – market leaders in the supply of bull semen and breeding pigs. “ The world is getting bigger and eating more. Don’t worry about the Muslims…”
ASIAN CITRUS – Stephen – increase our holding because they have recently ditched a partner whose poor image had cast a cloud over ACHL.
£1,000 to be spent on GENUS and £500 on ACHL. You couldn’t make it up.
Any Other Business
- For members who are not Facebook-literate, Smithy was able to confirm that he is “in a relationship,” and was formally congratulated.
- Treasurer apologised for “numerous accounting discrepancies,” as identified by the ever vigilant member Rainbow. These will be addressed forthwith.
- A CHRISTMAS NIGHT OUT ROUND CONSETT was suggested as a way of using some of the slush fund on FRIDAY 16th DECEMBER.
As mentioned in previous months, there will be a trip to Benalmadena, Majorca, Torremolinos, Benidorm or somewhere like that for 4 or 5 nights during Euro 2012. Final dates will be confirmed after the draw on Dec. 2nd and venue etc will be finalised at the next Shareclub meeting on Monday 14th November. Payments of £280 should be made by 18th November. This will cover the total cost of return flights and hotel accommodation, give or take a tenner.
Date and Time of Next Meeting: 14th November 2011 8.30pm Number One Club
Meeting closed 10pm
Minutes of Meeting held on 13th June 2011 at Number One Central Social Club
Present: P. Naughton, M. McElhone, K. Rainbow, S. Smith, M. McAloon
Apologies: M. Naughton, K. McElhone
Minutes of Previous Meeting
Circulated at meeting and added to website http://www.no1shareclub.co.uk/
Treasurer’s Report
Value of Each Share in Club: 78.73p (almost every share down this month)
iDealing Account: £867.12
LloydsTSB Account: £681.45
Slush Fund (Night Out): £151
Value of total assets of the club: £33,630.61 (securities) / £ 35,028.18 (net assets)
Units issued: 44,493.35
Dividends received this month: GREGGS £94.61
Average Member worth: £2,583.44
Investment and Dealing
In a bad month it is worth noting that LTSB have gone down further since we sold.
In a split decision, the meeting voted to sell Greggs on Paddy’s recommendation due to pastie size reduction.
With money in the pocket, 3 options attracted support:
BEASANT – Marty – It’s been knocking on the door for a while
GRIFFIN – Marty – It’s been a while…
BP – Beef – Recent stick has seen the price drop
A historical second round of votes saw members turn their back on Griffin in favour of BP.
Any Other Business
Cricket trip on July 8th is now organised. Members’ tickets to be funded by Shareclub.
Members are reminded that the EURO 2012 trip is just a year away!
Date and Time of Next Meeting: 11TH July 2011 8.30pm Number One Club
Meeting closed: 950pm
Minutes of Meeting held on 9th May 2011 at Number One Central Social Club
Present: P. Naughton, M. McElhone, K. Rainbow, S. Smith, M. McAloon
Apologies: M. Naughton, K. McElhone,
AGM Marking 11 years of prudent fiscal strategy. Officers re-elected; Somebody thoroughly checked bank statements.
Minutes of Previous Meeting
Circulated and posted on website
Treasurer’s Report
Value of Each Share in Club: 82.114p
iDealing Account: £472.51
LloydsTSB Account: £434.45
Slush Fund (Night Out): £137 (£75 taken for domain name and hosting)
Value of total assets of the club: £34,921.00 (securities) / £ 35,690.96 (net assets)
Units issued: 43,466.49
Dividends received this month: Asian Citrus £11.40
Average Member worth: £2,678.50
Investment and Dealing
- Member P. Naughton set an example of confidence in the Shareclub by buying £500 of extra shares
- Holding in NIGHTHAWK was sold for £438.20 during the month as it was on the slide and rumours were rife that it would go into administration
A suggestion – Beef – to sell CAZA was outvoted 3-2 and after two rounds of voting it was agreed that we shold buy nothing despite proposals in favour of Beasent (Maca) and Tesco (Beef).
Any Other Business
- SUMMER TRIP! From the available dates and information it was agreed that we should buy tickets for Durham’s T20 cricket match against Yorkshire on FRIDAY JULY 8th, starting at 530. Names and numbers to Paddy by the next meeting please (13th June). Tickets cost £13.
- Former member G. Naughton was congratulated on his prudent decision to set up a special savings account to pay for his participation in next summer’s Shareclub trip to warmer climes. You can take the boy out of the Shareclub, but you can’t take the Shareclub out of the boy.
Date and Time of Next Meeting: 13th June 2011, 8.30pm Number One Club
Meeting closed 940pm
Minutes of Meeting held on April 11th 2011 at Number One Central Social Club
Present: P. Naughton, M. McElhone, K. Rainbow, S. Smith, M. McAloon
Apologies: M. Naughton, K. McElhone
Minutes of Previous Meeting
Circulated at meeting
Treasurer’s Report
Value of Each Share in Club: 81.87p
iDealing Account: £800.00
LloydsTSB Account: £87.45
Slush Fund (Night Out): £198
Value of total assets of the club: £32,476.53 (securities) / £33,165.98 (net assets)
Units issued: 42,951.04
Dividends received this month: BP £22.11
Average Member worth: £2,654.78
Investment and Dealing
- ROMAG has now “gone bust” and therefore reduced to zero in Club accounts. If we do actually get anything back, it will go back in and be recorded accordingly.
- CATTLES has also gone – we got 1p a share, a total of £5.94.
- CAZA has dropped by around 50% in the course of the month
Our shares in LloydsTSB were sold for £2639.25… all of the above left us with £800 to spend. Suggestions were invited and three proposals were made:
Kingfisher – Beef – They own B+Q and the like, and everyone is doin their own DIY, and they got rid of Woolworths
Greggs – Stephen – they look nice and promising and steady, and that…
Beasent – Maca – A well known source has bought…
GREGGS prevailed and £800 will be invested tomorrow.
Any Other Business
We should go to a race meeting in summer, shouldn’t we…?
Date and Time of Next Meeting: 9th May 2011 8.30pm Number One Club
Meeting closed 930pm
Minutes of Meeting held on 14th March 2011 at Number One Central Social Club
Present: P. Naughton, M. McElhone, K. Rainbow, S. Smith, M. McAloon
Apologies: M. Naughton, K. McElhone
Minutes of Previous Meeting
Circulated at meeting and on a website near you soon
Treasurer’s Report
Value of Each Share in Club: 83.57p (down 1.43p on last month)
iDealing Account: £664.02
LloydsTSB Account: £240.05
Slush Fund (Night Out): £184
Value of total assets of the club: £36,825.37 (securities) / £ 35,545.84 (net assets, including withdrawal of £2,000 – see below)
Units issued: 42,535.79
Dividends received this month: none
Average Member worth: £2,693.65 (down approx. £30)
Investment and Dealing
Member P. Rooney submitted a request to withdraw £2,000, so £1,300 needed to be raised. More shares would need to be sold if we wanted to buy this month.
Suggestions to sell included:
LLOYDSTSB – Stephen – we could be sitting around for ever waiting for it to come back up while the money would be better spent elsewhere
DIGNITY – Marty – “Thankyou and goodnight”
BP – Paddy – Could it be effected by global crises?
After 2 rounds of voting, it was agreed that all of our holding in LLOYDSTSB would be sold, raising about £2,700.
Maca went nap with buy proposals:
RHEOCHEM; TANFIELD; BEASENT; TOP LEVEL DOMAIN HOLDINGSand SILANIUS.
Meanwhile, Beef warmed up for Cheltenham with a suggestion that we buy into LLOYDSTSB.
TANFIELD won out after two rounds of voting and a further investment of £1,000 will be made tomorrow.
Any Other Business
Members are reminded that when asked tricky questions about the Shareclub, a perfectly valid response is, “If you don’t like it, come to the meetings…
IMPORTANT: There will be another trip to a sunny destination in June 2012 to coincide with the Euro 2012 competition. We are expecting to be away for around 4 or 5 days, and the price will be about £250 for flight and hotel. Bookings will be made immediately after the draw on December 2nd. You have been warned, start planning now!
Date and Time of Next Meeting: 11th April 2011 8.30pm Number One Club
Meeting closed 10pm
Minutes of Meeting held on 14th February 2011at Number One Central Social Club
Present: P. Naughton, M. McElhone, K. Rainbow, S. Smith, M. McAloon
Apologies: M. Naughton, K. McElhone
Minutes of Previous Meeting
Circulated at meeting and added to website http://www.no1shareclub.co.uk/
Treasurer’s Report
Value of Each Share in Club: 84.99p
iDealing Account: £364.02
LloydsTSB Account: £193.45
Slush Fund (Night Out): £170
Value of total assets of the club: £37,451.61 (securities) / £ 37,839.08 (net assets)
Units issued: 44,520.68
Dividends received this month: Tesco £15.42; ACHL £11.12 and £55.47
Average Member worth: £ 2,723.58
Investment and Dealing
ROMAG could not be sold when price dropped as they were suspended following boardroom rumours.
Not enough to buy unless we sell… no research done as such, so no appetite to sell.
Any Other Business
Member Rainbow reports satisfaction on his recently installed kitchen.
Members are reminded that when asked tricky questions about the Shareclub, a perfectly valid response is, “It’s only a matter of time…”
Date and Time of Next Meeting: 14th March 2011 8.30pm Number One Club
Meeting closed 915pm
Minutes of Meeting held on 13th December 2010 at Number One Central Social Club
Present: P. Naughton, M. McElhone, K. Rainbow, S. Smith, M. McAloon
Apologies: M. Naughton, K. McElhone
Minutes of Previous Meeting
Circulated at meeting and added to website http://www.no1shareclub.co.uk/
Treasurer’s Report
Value of Each Share in Club: 82.02p (up approx. 4p and up 12p in the year)
iDealing Account: £1,340.26
LloydsTSB Account: £104.45
Slush Fund (Night Out): £242
Value of total assets of the club: £35,090.49(securities) / £36,293.20 (net assets)
Units issued: 44,796.26
Dividends received this month: CARILLION £30.09 / LADBROKES £35.95
Average Member worth: £2,565.32 (up £110 on last month)
Investment and Dealing
Do we want to sell anything?
ENRT – Paddy – It was suggested that it would be prudent to take some profit out of this holding as it has doubled in value. Despite support from member K. Rainbow the suggestion was voted down. Ignored, if you will. Like Connaught in May. And look what happened to that.
Member K. Rainbow wishes to withdraw £1,000, which will be drawn from the money currently held in iDealing. He presented his plans for a new kitchen and Shareclub approval was given, allowing him to withdraw a maximum of £1,000. His wisdom in choosing from the “Calverton” range; and his prudence in taking advantage of prices before the January VAT increase were warmly commended.
Any Other Business
The Shareclub night out will be helped with £100 from the “slush fund,” and will commence at 7.30 in The Fountain on 23.12.10
Date and Time of Next Meeting: 10th January 2011 8.30pm Number One Club
Meeting closed 9.35pm
Minutes of Meeting held on 8th November 2010 at Number One Central Social Club
Present: M. McElhone, K. Rainbow, S. Smith, P. Naughton, , M. McAloon
Apologies: M. Naughton, K. McElhone
Minutes of Previous Meeting
Circulated at meeting and added to website http://www.no1shareclub.co.uk/
Treasurer’s Report
Value of Each Share in Club: 77.96p (up 0.5p on last month)
iDealing Account: £1,725.44
LloydsTSB Account: £62.82
Slush Fund (Night Out): £228
Value of total assets of the club: £33,022.85 (securities) / £34,583.11 (net assets)
Units issued: 44,357.58
Dividends received this month: £633 from DIGNITY, who have done a 5 for 6 share swap, meaning we now have 542 shares instead of 633. We have now had our initial stake back in special dividends.
Average Member worth: £2,452.62 (up £33 on October)
Investment and Dealing
The good luck continues (…or “Jammy Bastards”) Having accidentally bought twice the intended number of shares in CAZA, we have seen it rise in value by 24% in the month.
VODAFONE shares sold for £2187.85.
Member M. Naughton was paid £1567.49 for his shares and starts again from scratch next month.
The quarterly payment of £5 fees went to iDealing.
It was agreed that nothing would be sold this month, leaving three suggestions to buy:
ENERGI OIL – Marty – “Down 18p today… just wait for the fragging to be done…”
ROLLS ROYCE – Maca – “Price has dropped due to Qantas engine explosion.”
AEC Education – Beef – “Educating Johnny Foreigner to speak English so he can take over the world.”
Despite the intrigue of nobody knowing what “fragging” is; and despite the obvious attraction (given Shareclub history) of something that might blow up in mid-air, the vote was in favour of AEC, and £1,000 will be invested tomorrow, leaving £1,000 to spend at next meeting.
Any Other Business
Members Christmas night out will be in Consett on 23rd December… COME ON! It’s what you pay that extra pound for!
(There won’t be a two course buffet and it probably won’t be provided by Greggs and Asian Citrus.)
Date and Time of Next Meeting: 13th December 8.30pm Number One Club
Meeting closed 935pm
Minutes of Meeting held on 11th October 2010 at Number One Central Social Club
Present: : M. McElhone, K. Rainbow, S. Smith, P. Naughton, M. McAloon, C. Young
Apologies: K. McElhone, M. Naughton, G. Richardson
Minutes of Previous Meeting
Circulated at meeting and via e-mail
Treasurer’s Report
Value of Each Share in Club: 77.43 (up 5.3p on Sept.)
iDealing Account: £5,863.13
LloydsTSB Account: £485.94
Slush Fund (Night Out): £214
Value of total assets of the club: £29,431(securities) / £35,566.61 (net assets)
Units issued: 45,933.89
Dividends received this month: GREGGS £32.72
Average Member worth: £2,419.58 (up £180 on Sept.)
Investment and Dealing
*SOLD: CALEDON (after it hit stop-loss figure) for £4,544.81 (net profit £2,192.15)
*SOLD: KRYSO £863.65 (net profit £114.07)
*Member M. Naughton wants to withdraw his holding of £1567.49 although he will continue as a member of the Shareclub.
Following a decisive phone vote from absent member K. McElhone, it was decided that Vodafone (Beef: “cash in while we can it is £177 up”) should be sold.
All of the above left us with an unprecedented £6,500 to spend. After some predictably longwinded cut and thrust, it was agreed that £5,000 would be spent this month, leaving £1,500 for November. After 3 equally longwinded rounds of voting, it was agreed that two existing and three new shares will be bought tomorrow as follows:
ENRT –Maca – “If it works it will take over the world” (Marty)
BP – Marty – we are only a month late (see below)
TANFIELD ELECTRIC – Maca – Looking to tie up big U.S. deal / NASDAQ float?
KAZA Oil and Gas – Maca “It’s another Griffin…”
GEM Diamonds – Paddy - price expected to rise due to Asian demand
… and we still hadn’t got round to telling Charlie about Spain.
Any Other Business
After a misunderstanding at last meeting, ROMAG was bought rather than BP. This “human error” worked massively in our favour (for once) with ROMAG showing a rise of over 50% on the month compared to BP’s 5%.
Following his excellent work this month, Member S. Smith was mandated to sell any share in profit that is moving dangerously toward its 20% stop-loss.
Date and Time of Next Meeting: 8th November 2010 8.30pm Number One Club
Meeting closed: 1015pm
Minutes of Meeting held on 13th September 2010 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
Circulated at meeting and via email
Treasurer’s Report
Value of Each Share in Club: 72.18p
iDealing Account: £1,182.18
LloydsTSB Account: £446.87
Slush Fund (Night Out): £186 (with £14 still to go in for this month)
Value of total assets of the club: £31,371.89 (securities) / £32,814.94 (net assets)
Units issued: 45,460.06
Dividends received this month: VODAFONE £76.84
Average Member worth: £2,239.65 (up £278 on July)
Investment and Dealing
Following a vote, it was agreed that KRYSO should be sold as “it is back in profit and at least we’ll get our money back” (Marty). This decision also gives us money to spend in October.
Suggestions for buying included:
BP – Marty – it has further to go and the talk about the oil spill is dying down
Connaught – Stephen – average it down…
Romag – Marty – Local company, doing well
BP won out by 3 votes to one over each of the others, so barring human error, £1,000 will be spent on them tomorrow.
Any Other Business
A Shareclub trip to Newcastle on a Saturday afternoon nearer Christmas has been suggested. Fenwicks and Marks and Spencer, I assume…
Date and Time of Next Meeting: 11th October 2010 8.30pm Number One Club
Meeting closed 930pm
Minutes of Meeting held on 14th June 2010 at Number One Central Social Club
Present: P. Naughton, M. McAloon, M. McElhone, S. Smith, P. Rooney
Apologies: K. McElhone, K. Rainbow, M. Naughton
Minutes of Previous Meeting
Circulated via email and at meeting
Treasurer’s Report
Value of Each Share in Club: 66.535p (from 69.32)
iDealing Account: £1,056.88
LloydsTSB Account: £319.87
Slush Fund (Night Out): £158
Value of total assets of the club: £27,977.79 (securities) / £29,196.54 (net assets)
Units issued: 43,881.48
Dividends received this month: GREGGS £67.83
Average Member worth: £2,015.24 (down nearly £70)
Investment and Dealing
It was unanimously agreed that at this time of low prices, nothing would be sold.
Two suggestions to buy were voted on:
BP – Marty – halved in value. They want to put the dividend into Public Relations.
ROMAG – Pat – Talk of expansion. We made a tidy profit last time and it seems to be on the way back up.
Giddy with “pre-Spain confidence” and sunstroke, members voted 3-2 in favour of BP. (P. Naughton and P. Rooney voted for Romag. Just so you know.)
Any Other Business
The first ever Shareclub trip to foreign shores departs this Wednesday as 10 intrepid explorers head for the Costa del Sol. Travel and transfer arrangements were finalised, and members agreed that spending 4 hours drinking beer followed by two lying in the Sun with no shirt on would not be a sensible option.
Date and Time of Next Meeting: July 12th 2010 8.30pm Number One Club
Meeting closed 930pm
Next Meeting is on Monday 14th June, meanwhile here are the minutes from March and May:
Minutes of Meeting held on 8th March 2010 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
None – Secretary absent, others illiterate
Treasurer’s Report
Value of Each Share in Club: 69.0258p (down over 5p)
iDealing Account: £877
LloydsTSB Account: £493.87
Slush Fund (Night Out): £116
Value of total assets of the club: £27,957.38 (securities) / £29,212.25 (net assets)
Units issued: 42,320.77
Dividends received this month: CONNAUGHT £9.17; VODAFONE £36.17
Average Member worth: £2,043.76 (down £140 since January)
Investment and Dealing
Technical problems led to no buying or selling last month. Shambles.
With £877 in the broker account, and a further £300 due on Wednesday through monthly subscriptions; added to £400 from the sale of Pactolus (also agreed at this meeting as it is “doing nowt”), the coffers were bulging with £1500 to spend. All we needed was a gentle push in the right direction…
The suggestions were as follows:
ENRT – external source – “A magical machine” which does something with recycled plastic, making prefabs or something…
CALEDON – Maca – seem to have greater reserves of coal and minerals than the company is worth
DRAX – Beef – Expanding power suppliers who could use new resources to benefit from Government’s green initiatives; targeting a 21% market share.
It should come as no surprise that ENRT won out and £1,000 will be invested in the magical machine with a further £500 going to buy more shares in CALEDON RESOURCES. Let “collective responsibility” be your watchword…
Date and Time of Next Meeting: 12.4.10 8.30pm Number One Club
Meeting closed 940pm
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Minutes of Meeting held on 10th May 2010 at Number One Central Social Club
Present: M. McElhone, S. Smith, P. Naughton, M. McAloon
Apologies: K. McElhone, K. Rainbow, M. Naughton
AGM Marking 10 years of Shareclub. Officers re-elected; Smithy thoroughly checked bank statements.
Minutes of Previous Meeting
None, but nothing was bought and sold as the meeting devoted itself to “chat about suntan lotion.”
Treasurer’s Report
Value of Each Share in Club: 69,3292p (down from 73.7p last month)
iDealing Account: £689.05
LloydsTSB Account: £277.87
Slush Fund (Night Out): £144
Value of total assets of the club: £ 29,257.75 (securities) / £30,080.67 (net assets)
Units issued: 43,388.15
Dividends received this month: NONE
Average Member worth: £2083.87 (£1698.13 a year ago)
Investment and Dealing
The Treasurer has bought the software to do Shareclub accounts. After valiant efforts to “get it for nowt” he paid £75 and has been reimbursed in units.
Discussion took place as follows:
Is it our patriotic duty to buy in times of national uncertainty?
CONNAUGHT – down £45 overall, but up this month…
SAINSBURYS – outperforming its sector
GREGGS – people like a pastie when times are hard
It was agreed that we should sit tight for now, but keep an eye on CONNAUGHT (sell) and GREGGS (buy).
Any Other Business
- Flight departs 830 on 16th June
- Baggage – hand luggage only
- Be aware of guidance on sharps / fluids etc.
Date and Time of Next Meeting: 14th June 2010 8.30pm Number One Club
Meeting closed 940pm
Minutes of Meeting held on Dec.7th 2009 at Number One Central Social Club
Present: P. Naughton, M. McElhone, K. Rainbow, S. Smith
Apologies: M. Naughton, K. McElhone, M. McAloon
Minutes of Previous Meeting
None provided as secretary was unable to attend, and nobody else could meet the required literacy standard.
Treasurer’s Report
Value of Each Share in Club: 70.45p
iDealing Account: £401.80
LloydsTSB Account: £67.87
Slush Fund (Night Out): £74
Value of total assets of the club: £ 28,512.06 (securities) / £ 28,907.73(net assets)
Units issued: 41,035.25
Dividends received this month: CARILLION £28.84;LADBROKES £21.80 and last month: DIGNITY £25.50 ; PACTOLUS £35.49
Average Member worth: £2,043.45
Investment and Dealing
Member K. McElhone has withdrawn £750 and we are still around £300 short of the £600 needed to take up an offer from Lloyds of around £600 of shares at approximately half current market value.
Needing to sell, therefore, the following was unanimously agreed:
PRUDENTIAL – Smithy – “It is £273 up which would cover fees and a small profit.”
There were no real suggestions for a buy (not that that has ever stopped us), so it was agreed that we will wait until January when there will be £1,000 to spend. If you don’t come to the meeting, you’ll miss your democratic right to vote on how this money will be squandered.
Greggs. No news. Why would there be?
Any Other Business
The Educational Visit to Spain is now confirmed for the 16th to 20th June 2010. Flights are booked, with accommodation to follow. Individuals should arrange their own insurance.
Date and Time of Next Meeting: 11th January 2010 8.30pm Number One Club
Meeting closed 940pm
Minutes of Meeting held on 12th October 2009 at Number One Central Social Club
Present: McElhone, K. Rainbow, S. Smith, P. Naughton, D. Clarke, M. McAloon
Apologies: K. McElhone
Minutes of Previous Meeting
Available on website
Treasurer’s Report
Value of Each Share in Club: 71.87
iDealing Account: £1,048.51
LloydsTSB Account: £297.64
Slush Fund (Night Out): £63
Value of total assets of the club: £ 28,283.53 (securities) / £ 29,566.83 (net assets)
Units issued: 41,137.7
Dividends received this month: PRU £12.58 and GREGGS £22.88
Average Member worth: £ 2,052.54 (up £97 in the month)
Investment and Dealing
Members voted unanimously to accept LADBROKES offer, in a cash call, of 311 shares at 95p (compared to 141p unit value).
With £700 left to spnd, two deadlocked votes led to a Shareclub first, when member J. Murray cast a vote in favour of Maca’s suggestion, GREGGS, via text message. Cutting Edge. They won out over ROBERT WISEMAN – Beef – “Milk People” who have just recovered from a £5M fine for price fixing.
Any Other Business
- Outstanding money from bookies owed after last visit to races (£70) has now been paid into Shareclub account.
- Trip to Spain to see a World Cup game on TV… give or take a day, this will be on 17th June, running Thursday to Monday. Participants to pay £230 to Marty at next meeting.
Date and Time of Next Meeting: 9th November 2009 8.30pm Number One Club
Meeting closed 945pm
Minutes of Meeting held on 14.09.09 at Number One Central Social Club
Present: M. McElhone, K. Rainbow, S. Smith, P. Naughton, M. McAloon
Apologies: M. Naughton, K. McElhone, C. Young
Minutes of Previous Meeting
Circulated at meeting
Treasurer’s Report
Value of Each Share in Club: 69.02p (up over 8p on July)
iDealing Account: £718.05
LloydsTSB Account: £255.61
Slush Fund (Night Out): £49
Value of total assets of the club: £27,128.18 (securities) / £28,053.02 (net assets)
Units issued: 40,642.22
Dividends received this month: None
Average Member worth: £1,955.19 (up £280 on July)
Investment and Dealing
All except Pactolus and Vane are up since July.
For once the lack of research actually led to an agreement that we should not buy until next month. Members offered the following thoughts:
GREGGS – Smithy - May be looking to sell next month
BETFAIR – Paddy – due to float soon and could be worth a punt
CADBURYS – Marty – are being taken over but are thought to be overpriced
There will be around £1000 to spend in October.
Any Other Business
Marty suggests that a trip to Spain to watch a World Cup match in a bar may be a good idea. Nothing to do with the shareclub, mind, he just likes an audience.
Date and Time of Next Meeting: October12th 8.30pm Number One Club
Meeting closed 950pm
Minutes of Meeting held on 13th July 2009 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
Circulated at meeting
Treasurer’s Report
Value of Each Share in Club: 60.72p
iDealing Account: £986.07
LloydsTSB Account: £171.64
Slush Fund (Night Out): £35 (Treasurer took £9 to renew website)
Value of total assets of the club: £22,915.85 (securities) / £24,038.71(net assets)
Units issued: 39,589.5
Dividends: Connaught £4.82; Tesco £29.61; Dignity £46.46; Carillion £55.80
Average Member worth: £1,677.91 (down £22 on last month)
Member Rainbow made some telling observations regarding the confusing nature of the two separate sets of figures presented to the meeting. These were duly noted and the Treasurer will be looking clarifying things. Once he finishes selling some dodgy Chinese furnishings on Ebay. And disciplining his kids. I blame the parents…
Investment and Dealing
As we were unable to buy Merck, Sharp and Dohme last month, we can buy this month. It was unanimously agreed that nothing should be sold, and so to the cut and thrust. Members of a weaker disposition may like to look away now.
We heard the following proposals…
Griffin – Smithy – More gold shafts are being opened and they also own a big stake in Australian company Spitfire minerals, offering an opportunity for North Consett’s leading Shareclub to interfere with the economy of a whole new continent.
Lloyds – Marty – not that he voted for it, mind…
Tanfield Electric Vehicles – Maca – but as Beef pointed out, “nobody gets milk delivered these days.”
Members voted 3-2 in favour of Griffin over T.E.V., and an eye-watering £900 will be invested tomorrow in China’s answer to the Klondike.
“At least it should get a few more to the next meeting”, commented one anonymous member.
Any Other Business
Please check out our updated website. It is a labour of love from our treasurer. Well, 10 hungover minutes last Sunday morning, when he reckoned he’d only had 4 pints in Wetherspoons on the afternoon. After popping in for coffee
Date and Time of Next Meeting: 14th SEPTEMBER 2009 8.30pm Number One Club
Meeting closed 10pm
Minutes of Meeting held on 8th June 2009 at Number One Central Social Club
Present: M. McElhone, K. Rainbow, P. Naughton, M. McAloon, M. Naughton, S. Smith
Apologies: K. McElhone
Minutes of Previous Meeting
Circulated at meeting
Treasurer’s Report
Value of Each Share in Club: 61.58p
iDealing Account: £1,066.70
LloydsTSB Account: £7.64
Slush Fund (Night Out): £30
Value of total assets of the club: £ 22,985.62 (securities) / £ 24,030.11(net assets)
Units issued: 39,019.56
Dividends received this month: Prudential £25.82; Greggs £30; Ladbrokes £56.38
Average Member worth: £1698.13 (down over £24 on May)
Investment and Dealing
We were offered a limited number of shares in Lloyds at a lower price, and spent £180 on that.
Telefonica was sold for £888.45 making a small, nay accidental profit, and leaving around £1,000 to spend this month. Although it was suggested that we sell Vodafone, “taking a loss before we lose the lot” (Michael) , it was agreed that we should hold onto our existing shares and buy…
Nighthawk – Beef – His source’s source says… etc. etc.
Lloyds – Michael – Safe bet that will come back
Tesco - Michael – Safe bet that will come back and recession-proof
Cummings Engineering – Smithy – shareprice flying up
Merck, Sharp and Dohme – Smithy - got a tip on this pharmaceutical company
After two complicated votes it was agreed that we should invest £500 in each of Merck, Sharp and Dohme and Nighthawk
Members are continuing to monitor Torotrak.
Any Other Business
When all moneys are duly returned to the treasurer and put back into Lloyds, the net cost of the trip to the races will be £45.
Date and Time of Next Meeting: 13th July 2009 8.30pm Number One Club
Meeting closed 9.40pm
Minutes of Meeting held on May 12th 2009 at Number One Central Social Club
Present: P. Naughton, M. McAloon, M. McElhone, M. Naughton, S. Smith
Apologies: K. Rainbow, K. McElhone
AGM - Member M. McAloon scrutinised the bank statements and found them to be in order. Treasurer and Secretary were re-elected, as was the Chairman in his absence.
Minutes of Previous Meeting
Circulated at meeting and via email.
Treasurer’s Report
Value of Each Share in Club: 63.06
iDealing Account: £312.75
LloydsTSB Account: £202.64
Slush Fund (Night Out): £235 (including £135 due to come out for races on June 6th)
Value of total assets of the club: £23,983.70 (securities) / £ 24,264.24 (net assets)
Units issued: 38,477.23
Dividends received this month: none
Average Member worth: £1722.84 (up over £260 on last month)
Investment and Dealing
Members, urged on by an impassioned email from member K. Rainbow, agreed that something should be sold this month. Suggestions were as follows:
Asian Citrus – Marty – Get a profit now while it may be at its peak
Half of Asian Citrus – Maca – prudence and thrift are his watchwords
Vodafone – Michael – Their day has gone and the market is suffering
As the dust settled after the excitement of the vote, it seemed we had agreed 4-1 to sell half of our holding in Asian Citrus, leaving us with around £1500 to spend…
Proposals included:
Dignity – Maca – tipped again and still thought to be undervalued
Greggs – Michael – overheard some bloke in the club…
Nighthawk – Beef – his source says that his source is still buying them…
In keeping with the mood of prudence and thrift, it was unanimously agreed that we should make a further investment of £500 in each of the three.
Any Other Business
Treasurer to investigate whether we can sell Telfonica, to enable us to buy again next month.
Trip to races to go ahead as planned on June 6th.
“Torotrak is on the up…”
Date and Time of Next Meeting: 830pm 8th June Number One Club
Meeting closed 930pm
Minutes of Meeting held on 20th April 2009 at Number One Central Social Club
Present: M. McElhone, K. Rainbow, S. Smith, P. Naughton, M. Naughton, M. McAloon
Apologies: K. McElhone
Minutes of Previous Meeting
Circulated by e-mail and presented at meeting
Treasurer’s Report
Value of Each Share in Club: 53.88p (up 6 ½p on last month thanks to leap in Caledon and others)
iDealing Account: £623.82 and 68.65 Euro
LloydsTSB Account: £160.64
Slush Fund (Night Out): £221
Value of total assets of the club: £19,824.06 (securities) / £ 20,387.67 (net assets)
Units issued: 37,842.45
Dividends received this month: none
Average Member worth: £ £1455.87 ( up over £190 on last month)
Investment and Dealing
With over £600 at the broker account, it was agreed that we should buy this month. It was also agreed that nothing would be sold. Suggestions went as follows:
Tesco – Michael – “safe bet”. Disturbingly uncharacteristic.
Connaught or Carillion – Beef – “green shoots”
Lloyds – Marty – “he who rides the tiger finds it difficult to dismount.”
Following some voting that at best can be described as convoluted, and at worst unconstitutional, Carillion triumphed over Connaught and £600 will be invested tomorrow.
Any Other Business
WE ARE GOING TO THE RACES ON SATURDAY JUNE 6th. It is an evening meeting at Newcastle. Let us know if you want to go!
Date and Time of Next Meeting: TUESDAY 12th May 2009 8.30pm No. One Club
Meeting closed 945pm
Minutes of Meeting held on 9th March 2009 at Number One Central Social Club
Present: P. Naughton, M. McAloon, M. McElhone, M. Naughton , K. Rainbow
Apologies: K. McElhone
Minutes of Previous Meeting
Circulated via email and at meeting
Treasurer’s Report
Value of Each Share in Club:47.35p (down 6.35)
iDealing Account: £328.82
LloydsTSB Account: £118.64
Slush Fund (Night Out): £240.46
Value of total assets of the club: £17,335.68 (securities) / £ 17,576.29 (net assets)
Units issued:37,120.18
Dividends received this month: Connaught £7.77
Average Member worth: £1,263.54
Investment and Dealing
There was not enough money available to buy unless something was sold first so no transactions this month.
Any Other Business
Date and Time of Next Meeting: 20th April 2009 8.30pm Number One Club
Meeting closed 9.20pm
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