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Date and time: 8.00pm 7th February 2005 Venue: Air Balloon Pub, Birdlip Hill Attendees: John Peprell AGENDA 1. What we've sold MINUTES 1. What we've sold KGF +£233 +????% (difficult to know because of share split with KESA) 2. Current prices BAA +7% We are all in profit CHING-CHING! 3. Dividends BAA £11.87 CPK £9.10 4. Adjust buy/sell We had a discussion about locking in profits. Leave things as they are until it can be automated. PILK move low and high sell up by 20% SMIN move Low sell to 0% SVT raise low and high sell up by 20% XAAR raise high sell up by 10% 5. Paperwork Mark de Hora's new membership form was signed. Welcome Mark - now give us your wallet. 6. Homework Mark N recommended Fayrewood, European computer logistics (hardware
and software distributor). Have increased earnings over 3 years. Press release
on 10 Jan said earnings will be better than expected this year. Turnover £434M
last year. Dave recommended Wolseley, plumbing wholesalers, own Plumbcenter. Recommended last month and doing very well. PE 16.7. 6SB 9B 2H 2S. Dave also recommended Medical Marketing, research funding company who pay Universities to research then sell licences to pharmeutical companies to manufacture. Not in profit yet, but market catching on. 1B. Mark de H recommended Allied Domecq, drinks manufacturer (amongst others) mostly spirits and wine. Rumours of a takeover, so shares rose. Most rivals family owned, so AD are the firm most ripe for takevoer. 2SB 4B 6N 1S 1SS. Divi was 3.4%. Mark de H recommended Corus, steel manufacturer. Steel prices rising worldwide, influenced by growth China. Been in loss but gap is closing, should be in profit soon. 1SB 7N 2S 1SS. PE 6.3. Divi 1.1%. Tim recommended Findell PLC, fulfilment company i.e. co-ordinate domestic shopping orders. Sell stuff via schools (books etc). Home shopping and education are biggest areas. Turnover £187M last year up from £164M. Profit 6.9% up %34. PE 15.58, divi 2.78% steadily risen. 2SB 3B 1H. EPS growth 13.2% this year, 15.5% for next year. Pablo recommended Collins and Hays, top drawer furniture sellers. Divi 23.5% but maybe this is a cash spend to keep shareholders happy. Volume 37000. No recommendations any way. Earnings for Jan 2005 may be below expectations but this maybe because regular customers are holding off. Profit fallen from 3.2M to 2.6M. Graph has been falling. Pablo recommended DDD, developing content to convert 2D images to 3D (TV, PC, video, mobile). Technology has been use in Harvey Nichols shopfront. Killer app will probably be to Far East mobile phone company (HUGE market). No recommendations. Pablo recommended Screen FX (SFX), selling digital advertising in shopping malls in 10 cities, including interactive displays. Sector leaders in a new field, big in US and Australia. Some big customers, Warner Brothers, National Lottery. No recommendations. JP recommended Filtronic, manufacturer of RF power amplifiers for mobile phone networks, transistors for those amps, antenna for mobiles 18% of global market. Bad year last year but pulled it around, graph fell over year but slowly rising. Ripe for takeover. 4SB 2B 0H 4SS. 7. Voting We voted for 3 shares, 2 x £2000 1 x £1000. Filtronic and Fayrewood tied first, Wolseley second. Mark will put £2000 in Filtronic, £2000 in Fayrewood, £1000 in Wolseley. High/Low sell +/- 20% 8. Next Meeting Pablo's house March 12th, poker game after. MINUTES ACTION ITEMS Action 1. Homework Action by: All Action 2: Is there a version of Cow for the Mac for Mark de H? Action by: Mark N JP Coetzee - |