Minutes:

Meeting of the Hot Tips Investment Club in TC7 on 30th September 1999.

Present: Steve Mantz, Chris James, Arnold Spence, Martin Ayub, Paul Garcia, Neil Barron.

Paul reported that we've now sold everything except Iomega, and Kingston Communications. Paul reckons that as Kingston have dipped over the last 2 days they should recover in the next couple of days.
Update - Kingston now sold at 462p.

Here are the prices we got for the shares: Tesco - 189.5p, Rentokil - 213p, Photobition - 231p, JJB Sports - 323p, Delta - 131p, Slug&Lettuce - 173p.

Iomega hasn't been sold yet, because Paul and Steve Mantz both want to buy these shares from the club, thus avoiding the high dealing costs involved in trading in US stocks. The shares are held in Steve's name at present.

We voted to allow Steve and Paul to buy the Iomega shares at the mid-market price of $3 7/32 totalling $804.6875, which is £488.92 at the day's closing exchange rate. This will be added to the pot, with half being deducted from Paul & Steve's payouts.

Two people failed to cancel their standing orders - John Cole and Paul Garcia. Whoops. Well contrary to what I said last time, we didn't go down the pub and spend the £100. At least not yet!

The final calculation will be done in a week or so, when we've sold Kingston and the final contracts have come through so we know the dealing charges. The recent dip hit us a bit, so the total should be around £21K (1.05K each).

Finally, a big thanks from me to you all for making the HTIC such fun and for taking part in it all. It's been a fantastic learning experience for all of us, something that should help us in our own dealings, so here's to the all new Hot Tips 2000 (or HT2K).

Martin Ayub,
Secretary.