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Date and time: 8.00pm 20th January 2004 Venue: Piercefield Pub, St Arvans Attendees: John Peprell
AGENDA 1. What we've sold MINUTES 1. What we've sold Nowt 2. Current prices Smiths Industries BP +2% Unit price 3. Dividends KESA 1.50 4. Adjust buy/sell No adjustments 5. Paperwork JP had to sign Internet Banking Form. 6. Homework We have £1229 in the bank. Cobbs recommends Scottish Radio Holdings. EMAP recently acquired 23% of SRH from SMG, analysts expect a full takeover from EMAP - pefect fit with current EMAP holdings. Graph has been low but steadily rising. 1SB 5MB 2H. Divi 7 Jan. Own radio groups, outdoor media etc. PE 22 vs sector avg 22. John recommends Tesco. Announcement today accelerating overseas expansion, CEO increased holding. Will increase holdings of stores overseas esp. China. PE 15 vs sector avg 15. Divi 2.5%. 8SB 13MB 10H 1MS 1SS. Graph has been steadily rising. Mark recommends Topps Tiles. Sell tiles; topped in Sunday Times for 2004 - tiles are always popular and market is growing - estimated to rise by 18% in 3 years. Divi 3%. 6SB 2MB 3H. PE 11 vs sector avg 22. Graph is steadily rising. Mark recommends buying more Severn Trent stock. We're breaking even now, graph has just dipped but looks set to continue it's overall trend. Dividend is good 6.5%, our selling price will be reduced. 2SB 8MB 5H. Ex-divi was 17th December which could explain the dip. PE 11 vs sector avg 11. Pablo recommends Pixology, floated Dec 2003 (AIM). Just struck deal with Canon to use their award-winning anti-redeye technology software. They also have technology inside the Jessops digital photography machines which make prints of digital photos - this is a rapidly-growing market as more and more people get into digital pics. Expanding globally. No figures, no graph. We like the sound of Pixology and fancy a punt on a brand new company. After a vote we decided to put £500 in as a dodgy pot, and put £1000 into one of the other 4 when the subs come in. We voted on Scottish Radio Holdings, Tesco, Topps Tiles, Severn Trent. Topps Tiles won. Mark will put £500 in Pixology now and £1000 in later. 7. Next Meeting Mark's House March 5th 2004 - poker game. 8. AOB Bob Taylor bought the remainder of David's shares, £265.04. Cobbs to look at shares while Mark away - email nearer time. Pablo suggests Jo's Dad Dave Hanley as new member. Unanimously agreed. ACTION ITEMS: Action 1: Mark to email details of buying and selling shares to Cobbs. Action by: Mark. JP Nicholls
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