Minutes:

Minutes of the Hot Tips Investment Club meeting held on Wednesday 10th. February 1999.

Present:- John Ford, Martin Davies, Arnie Spence, Steve Mantz, Paul Garcia, Chris James. On the phone, Steve Walker.

John reported on the pub meeting that took place on 30th. January.

Here it was decided to spend the £4000 that the club held in cash on Cisco, an American internet company, Slug & Lettuce, and Kingston communications.

Only the Slug & Lettuce shares have been bought so far.

Kingston communications is a telecom company owned by a local authority (Hull) which is going to float on the stock market. Paul recommended buying lots of shares when they do. There is a possibility that take-over bids will be made for them.

Paul recommended William Hill, a new issue, which has an expanding range of betting opportunities, including internet betting and would be in line if the Totes came up for sale.

John said we should decided now whether we should buy for the long term or for a quick profit. We decided to buy £1000 worth, remembering that the number of shares allocated may be reduced if the issue is oversubscribed.

We decided that we should sell quickly if there is a sharp initial rise.

Steve W mentioned Marks and Spencer, but other members were not very keen - we already have shares in two supermarket chains which have not performed terribly well.

He also mentioned Manchester United, however there is a question mark over their liaison with BSkyB, which may be blocked by the Monopolies & Mergers commission.

Arnie recommended Orange if if we decided to go for a telecom share. They are investing heavily and competing aggressively against BT fixed telephone services.

Steve M recommended Apple because of Apple developments like Quick-Time and Fire-Wire, as well as the I-Mac computer.

Pace electronics was also recommended.

We decided to set up an account with Greenline Services, an internet share trading company, whose dealing costs for American shares are 30% cheaper than Barclays. We decided to buy Apple and Cisco when funds and dealing facilities allow and the timing looks right.

Thanks to Chris for taking these minutes in my absence.

Next monthly meeting is on Wednesday 10th March 1999, at 6:30pm in TC7.

Martin Ayub,
Secretary.