Date and time: 8.00pm 21st  November 2003

Venue:         JP's house

Attendees:         John Peprell
                        Andy "Cobbs" Robinson
                        Paul "Pablo" Tompsett
                        Mark Nicholls
                        JP Nicholls

AGENDA

1. What we've sold
2. Current prices
3. Dividends
4. Adjust buy/sell
5. Paperwork
6. Homework
7. AOB
8. Next meeting

MINUTES

1. What we've sold

Hornby. We made 27% profit, plus a dividend.

2. Current prices

WOLV +16%
CW about -50% overall (3 tranches)
DCF -22%
KESA+KGF together +21%
MTO -15%
PILK +4%
SMIN -6%
SVT -2%

Overall about -10%

3. Dividends

SMIN £72
KGF £10

4. Adjust buy/sell

Need to set a price for KESA (those strange shares we got for free from Kingfisher). We've only got £140 worth so we'll leave it with no price just for a laugh.

KGF needs adjustment high sell price to +/- 30% of Monday's price.

WOLV adjust high sell from +20% to +/- 30%.

5. Paperwork

Dave Bibby wants his money back, he has total value of £865 as of today's date (for a total investment of £900). This is all on the web. We will buy David's shares between us, the following people will put in:

£200.00 John Peprell
£100.00 Cobbs
£100.00 Pablo
£200.00 Mark
£265.04 from TITS

We will send these cheques this weekend - Pablo will contact David via his Dad. Mark will sort out re-allocation of David's units. Good luck David, thanks for coming along for the ride! David has actually done better than everybody else in the club.

6. Homework

John recommended British Petroleum. Current price 411, brokers reckon will hit 480 end of year. SB 6 MB 9 H13 MS 7 SS 1. No dividends? PE 12 vs sector avg 12.

John recommended Oxus Gold recommended Yahoo Finance. They are gold mining company, exploring in ex-USSR middle eastern states. Graph has risen steeply recently - have we missed the boat? Gold is currently high-priced, some say it will continue to rise. SB 1 (one broker only). PE 15.8 vs avg. 21.8.

No-one else did any homework... BP it is then.

We have £1331 to invest. We decided to put £1000 in BP on Monday.

Buy/Sell prices will be +/- 30%.

7. AOB

8. Next Meeting

Tuesday 20th January in a pub somewhere. We will give Mark the postcode so he can test his GPS.

ACTION ITEMS

Action 1. Homework

Action by: All

JP Nicholls

--

JP Nicholls / jpn(AT)mooses(DOT)co(DOT)uk