Minutes:

Minutes of the meeting of the 14th January 1998, held in TC7 at 6:30pm:

Keith was proposed as a replacement for Tony Upjohn, proposed by Paul, seconded by Martin Davis. Agreed by vote.

Dan produced the notes from the last meeting.

Neil introduced his share information sheet and reported on the current share prices and price-earnings ratio for each share.

Share prices on the preceding day were: BskyB - 188 bought at 477 now at 418 Psion - 189 at 475 now at 452.5 Asda - 636 at 157 now at 184.5 JJB Sports - 160 at 620 now at 670

Paul proposed Martin Ayub should replace Dan as Secretary. This was seconded by Milton. Agreed by vote.

Far East market report by Paul.

Situation has been rocky, but we've performed quite well in spite of this.

Performance of BskyB was considered, as it's our biggest underperformer. It was proposed that we set a floor price of 400p at which we will sell our entire holding without further discussion. This was proposed by Martin Davis, seconded by Jenny Cross. Agreed by vote.

Paul appealed for as much involvement by the members as possible by way of tips and suggestions. Paul mentioned that Working Lunch are doing a feature on share clubs, and that we might get a mention on that. There are also some fantasy shares competitions in the FT & Daily Mail.

Paul said that he had taken over the accounts from Neil.

Paul & Martin will meet to try to sort out the computerisation of the accounts.

Keith raised the issue of the contributions paid by Tony Upjohn. It was suggested that this money (£50 less any losses & dealing costs) be returned. This was agreed by vote.

Keith's joining was discussed and he said that he preferred to join at the same level as everyone else, and pay a lump sum equal to everyone else's contributions which amounts to about £250.

Neil raised the issue of choosing a growth share and how people can spot one, and suggested spending some time educating members either at regular or special meetings.

A vote was taken about not buying any shares given the uncertain climate. Agreed by vote.

Next meeting will be on Wed 11th February in TC7 at 6:30pm.

Martin Ayub,
Secretary.