consett no1 shareclub
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Member K. McElhone has withdrawn £750 and we are still around £300 short of the £600 needed to take up an offer from Lloyds of around £600 of shares at approximately half current market value.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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