Minutes:

Minutes of Hot Tips meeting in TC7 at 1:30 on 14th May 1999.

Present: Keith Longmuir, John Ford, Paul Garcia, Steve Mantz, Neil Barron, Nicole Smith, Martin Ayub, Steve Walker, Jennifer Crossfield.

Well done for the good turnout, let's see if we can keep the numbers up.

Today's prices are: Asda-187, Delta-166.5, Iomega-312.5, JJB-382.5, Lynx-169.5, Photobition-223.5, Richmond-81.5, SFI-220, Signet-58, S&L-160.5, Tesco-188.

Neil has resigned as treasurer of the club for a number of reasons. Many thanks to him for all his hard work since we started.

So, we are looking for a new treasurer, if anyone wants to volunteer...?

We discussed the shares we currently hold. We decided to hold Asda for now, pending the merger with Kingfisher. We had a spirited discussion about creating some sort of investment policy, but in the end we didn't form any kind of consensus.

The talk was about what percentage of our portfolio should be held in growth shares, what percentage in longer term steadily performing shares and so on.

We voted to sell our Signet shares, now they seem to have peaked, with the option to buy back into them if they bottom out. We sold them at 55.25p.

We then discussed the opening of an Ameritrade account to ease the purchase of US stocks. We voted in favour of opening the account.

Steve Mantz proposed reducing the monthly subscription from £50 to £25, as we have a reasonably large cash surplus at the moment (c £7780). Comments welcomed.

This month's share tips: Martin suggested RM as a potential purchase. They are a computer and software company, which supplies mainly to schools and colleges, in addition to other major companies (our BNCS terminals are RM computers).

Steve Walker proposed Holmes Place, a health club company.

We didn't have time in the allotted 1 hour to discuss these shares, so they'll be considered at the next meeting.

Given how tight we were for time, we're looking to hold a mid-month meeting, probably at a quiet pub near work. Details by email for those with the facility. If you don't, then ring one of the members for details.

Martin Ayub,
Secretary.