Minutes:

Minutes of Hot Tips meeting in TC7 at 1:30 on 11th June 1999.

Present: Martin Ayub, Steve Mantz, Martin Davis, Chris James, Arnold Spence By Phone: Paul Garcia

Steve handed round a form for us to sign in order to set up our Ameritrade account. We need to send out a minimum of $3000 to set it up, from which we trade, at a cost of $8 per trade.

This will be the method we'll use to purchase the Apple shares we've previously agreed to buy.

Paul will set up the account for the club

We voted to send £3000 (£4600) to the US to set up this account.

This month we'll have £11700 in cash to spend, so we decided to take this opportunity to make some buying decisions - at last.

New Tips: Rentokil from Paul - We voted to purchase 600 shares which at today's price is £1548.

Paul spoke about Pace Microsystems, a company he has tipped before.

Paul spoke about the imminent floatation of Kingston Communications. We've already voted to take up this offer, so today we voted on the amount to spend. The initial idea is to sell 50% of our stake in Kingston fairly quickly to take a quick profit, while keep the rest. We voted to allocate £6000 to this, on the basis that we probably won't need it all as the offer is likely to be oversubscribed.

Steve has set up another portfolio on the www.iii.co.uk for shares we're keeping an eye on.

Steve is also looking at cheaper dealing services than our current Barclays account which charges 1.5% and has a wide spread.

Today's prices are: Asda - 184p, Delta - 153.5p, JJB - 292.5p, Lynx - 156.5p, Photobition - 225p, Richmond/Treats - 85p, SFI - 213.5, Slug&Lettuce - 154p, Tesco - 190p, Iomega - $4.38.

Late News: The Asda/Kingfisher merger looks dead in the water following a 220p/share agreed buyout of Asda by Walmart of America. We bought Asda at 157p, and 220p represents a 40% profit for the club. There will be no dealing costs associated with the sale if it goes ahead.

Martin Ayub,
Secretary.