Minutes:

Minutes of meeting of Wednesday 19th August 1998 in TC7 at 6:30pm :

Present: Keith Longmuir, Chris James, Martin Davis, Martin Ayub, Arnold Spence, Neil Barron, and John Ford By phone: Paul Garcia, Steve Walker and Steve Mantz.

Current prices are: Asda - 186.75, Delta - 161, JJB - 441, Lynx - 210, National Express - 940.5, Photobition - 237, SFI - 160, Signet - 35.25, Treats - 66.5.

Unit value is down to 0.75.

Only NE and Asda are making us a profit.

JJB are offering a right issue of 190 shares at a price of 440, the same as their current price. We decided to take up this offer.

At the annual meeting at the pub, John proposed that we consider selling shares if they reach a predetermined price, and take our gains, as we've not taken any profits from our shares yet. The suggested level was 25% above the purchase price, as a guideline (that 25% level is detailed on the web-site). We voted to implement this policy.

We also voted to sell out National Express holding, which is roughly at the 25% profit level, but has been falling of late.

This month's tips are: Arnold offered Jacob's Holdings, a transport company.

Neil offered Matalan, a clothing company.

Martin Ayub suggested Budgens, the supermarket group, on the back of a tip about their being taken over.

Steve Walker suggested an AIM company called Lady in Leisure, a fitness/leisure club company.

Meera has decided to leave the club, we'll consider a replacement at the next meeting.

Martin Ayub,
Secretary.