Date and time: 8.00pm 7th March 2001

Venue: The French House 

AGENDA

1. Current prices

2. Shares sold

3. Adjust buy/sell

4. Homework - new shares

5. Homework - other

6. AOB

7. Next Meeting

MINUTES

1. Current prices

Tadpole 50 +16%
RR 215 +4%
WPP 834 +1%
Celltech 1360 +30%

Unit price 101.96

Overall spend £6513.91
Overall profit/loss £388.72
6% down

2. Sold shares

C+W sold total loss £127 on £500 invested
Kewill sold lost £246 on £1000

3. Adjust buy/sell prices

Celltech high sell price is 1999, move to 1599.

4. Homework - new shares

Tim looked at:
Community Hospitals Group (CHP), weren't taken over by BUPA but another purchaser likely.

Cobbs looked at:
Tullow Oil. Personal recommendation, "something big is going to happen" in next 6 months.
SFI group, own "Slug and Lettuce" chain of pubs. Graph has been high recently, coming down. Boost to drinkers in the budget
Exel, int'l freight management. Huge turnover, massive dividend. Tipped in Sunday Times, tipped to outperform expectations.

Pablo looked at:

Fairey Group. Design and manfactur tech products, specialist process technology stuff - electronic controls. Graph shows the usual tech ups and downs. Tipped as a strong buy on UK-Invest (5 strong buys). Turnover 1999 275m, 1998 264m, 1997 321m. Company going since 1915. Dividend has increased.

P/E 16.89, sector 16.86

JP looked at:

Waterford Wedgewood. Make crystal and ceramic goods, 22% rise in profits this year. Taking on new designers to expand into luxury goods. Graph climbed steadily over last year, few wobbles in recent months.

Spirent. Network suppliers and telecom testing manufacture. Have been one of the few companies to beat the tech ups and downs. Graph falling slightly over last 6 months but a lot stronger than sector, recently risen.

Brett looked at:

Innogy - see last month.

John looked at:

Environmental Polymers. New company making biodegradable plastics, though mostly research at the moment. This is likely to be in demand in the future with new EU regulations.

Could be a high risk share?

Mark looked at:

Pizza Express. Graph very high at the moment; has risen sharply in the last couple of months. Expanding into Europe, building pasta restaurants next to Pizza Express outlets.

P/E 18 against 13 for the sector (means that growth is expected)

Bob looked at:

Shire Pharmaceuticals as before. Price today 1150. Good reviews on Motley Fool. Purchase of BioChem has been cleared by OFT. Graph fairly steady. Massive turnover, middling risk.

Fairey Group and Tullow Oil won. £1000 into Fairey Group, £500 into Tullow Oil.

Fairey Group

Buy price: Between 450-550

Low Sell price: 20% below buy price
High Sell price: 30% above buy price

Tullow Oil

Buy price: Between 60-80

Low Sell price: 20% below buy price
High Sell price: 30% above buy price

5. Homework - other

Cobbs has set up a unified portfolio on Yahoo. Allows us to make direct comparisons of companies; if we send him company names he will do this before each meeting.

6. AOB

Constitution changed, rules of club changed as agreed last month

Proshare renewal to be sent off (free).

7. Next Meeting

AGM Meeting. Friday 20 April at Pablo's.

ACTION ITEMS

Action 1. Email all addresses of members to John
Action by: Mark

Action 2. Renew Proshare
Action by: John