Agenda

INVESTMENT CLUB START-UP

1: minimum term for club – 5 Years
2: All investments are a club decision
3: A monthly deposit is required by standing order. (Amount to be discussed)
4: Initial deposit required to join (propose a £200 for start-up per member)
5: A Chairman, Secretary & Treasurer should be elected at first meeting.
6: Monthly meetings to be held, preferably in some fine alehouse or a recommended venue, which can supply alcoholic beverages.
7: Each member should share the work, research companies they wish to invest in (don’t just rely on tips from newspapers, Bloke down the pub said etc)
8: All members are equal, apart from J.P Nicholls for obvious reasons. (Only kidding).
9: Remember to have fun.
10: Someone got to think of a suitable name for club.
11: Perhaps we just all invest our money into Peruvian snowflake

Minutes

1. People in the club:
John Peprell
Andy Robinson
Mark Nicholls
JP Nicholls
Marcus Austin
Bob ?
Sim ?
Steve Towers ?
Brett Ireson ?
Jim Summerfield ?

2. Responsibilities.
Chairman - John Peprell
Treasurer - Mark Nicholls
Secretary - JP Nicholls. I have to wear a short, tight skirt and low-cut top.

3. Money to be paid into company bank account on 6th of every month. Initial deposit of £200 to be paid by cheque before next meeting - details to follow.

4. Banks - Motley Fool discussion board recommends HSBC and ????. John and Cobbs to investigate.

5. Brokerage - Motley Fool discussion board recommends Schwab and ????. JP and Mark to investigate. Also find out how shares are paid for - online, over the phone or by cheque?

6. We will have £200 * 5 = £1000 min, £1600 max by next meeting.

7. Brokerage charges. Each share transaction usually costs about £15. So there's no point in 
buying less than about £250 worth of shares because the brokerage fees will be too big. So 
there's no point in meeting up until we have at least that to invest, so we'll meet up every 
months.

8. Next meeting - ???? pub on the A38. 8.30pm
Tuesday 6th June. JP to drive from Bristol. 
Details to follow.

9. Investment types. Must be UK companies - we believe this is a legal requirement of Investment 
Clubs? We won't invest in boring safe companies like Abbey National, we won't invest in scary 
stuff like lastminute.com. We will choose between these extremes, but vary the risk. Some months we'll play safe, some months we'll take a risk, but overall we'll keep a balanced portfolio.

10.Software. John to purchase COW and to be reimbursed. John also to be reimbursed for joining 
Proshare (Investment club club).

11. The constitution was agreed without changes and signed by all attendees (copy attached).

Action Items