Minutes:

Minutes of Hot Tips meeting in TC7 at 6:30 on 14th April 1999.

Present: Meera Thavasothy, Milton Boyne, Martin Ayub, Chris James, Neil Barron By phone: Steve Walker, Steve Mantz.

Neil handed out accounts for last month, and the start of this month. Most shares are performing well. We're about £103 down each on our total investments of over £1000.

Neil is working on our tax situation, which is relevant for your tax returns - if you have to fill one out. It should take a few more weeks.

Today's prices: Asda - 159, Delta - 149.5, JJB - 410, Lynx - 181.5, Photobition - 243.5, Richmond - 178.5, SFI - 194.5, Signet - 55p, SL - 157.5, Tesco - 170, Iomega - 5 1/16.

Steve W reported on Treats. They've got a new contract to supply Asda, and are building a new plant, together with a development deal in Spain.

We then discussed whether we should be selling any of our holdings, given that a few of them are making profits for us.

Neil is of the opinion that we're better off holding on to the shares that are doing well, or buy more of them. We've had discussions in the past on when to take a profit, but in the end it's still a matter of discussion at the meetings.

We discussed selling Signet. There are rumours about floating off their profitable American division.

We also discussed selling Asda, but decided not to do so at this stage.

Paul spoke about the Ameritrade US share dealing service, which only charges $8 per trade, a vast improvement over previous costs. Paul can set up an account on our behalf and transfer our existing Iomega shares into it.

Neil was unhappy with the complications of incorporating this into the existing accounts. So this was left to the next meeting.

Paul discussed Manchester United as a potential purchase, but managed to talk himself out of it.

Nicole suggested rescheduling the meetings for Fridays at 13:30 in order to reach a wider audience.

That makes it Friday 14th May for the next one. This was approved by vote.

Steve W is still investigating the leisure sector, and will report back next month.

So, the next meeting is on FRIDAY 14th MAY, and every 2nd Friday of the month from now on. Please try to make it if you possibly can.

Martin Ayub,
Secretary.