Minutes of Meeting of The Investment Team Shareclub

Date and time: 8.00pm 23rd April 2005

Venue: Mark's house

     

Attendees:    John Peprell
                    Andy "Cobbs" Robinson
                    Mark Nicholls
                    JP Coetzee
                    Mark de Hora
                    Brett Ireson

AGENDA

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

MINUTES

1. What we've sold

Fayrewood (FYW) we lost 20% on £2000 share

Filtronic (FTC) we lost 20% on £2000 share

2. Current prices

BAA +2%
BDH -8%
BMY +6%
BPB -7%
CW *cough*
MTO +5%
SMIN +21%
SCO -2%
WOS -5%
XAAR +23%
SPW -2%

3. Dividends

SCO (Scottish Power) £14.21
MTO (Mitie) £11.28
FTC (Filtronic) £6.57
SVT (Severn Trent) £23.13

4. Adjust buy/sell

No.

5. Paperwork

Mark handed out tax return forms for YE April 2005.

6. Homework

Cobbs handed out list of all the divis we've collected. Total of £1012 over the 5 year period.

Mark de H recommended Allied Domecq. He recommended them last month as ripe for takeover, and they've risen from 530 to 650 on announcement of takeover. Currently 4SB 2B 9H 2S. Have we missed the boat? Depends on market opinion of the deal.

Mark de H also mentioned Cairn Energy. Oil exploration group. Price dropped 25% at the end of last year after disappointing exploration results. Prediction of field sizes doubled recently. Doubling drilling in India, popular with the market. New 50% stake in field in Rajasthan. Production to rise from 120000 to 15000 barrels per day. 6B 4H 3S.

Mark de H also recommended company which make Marlboro. Just struck deal to sell in China, which will be big. Making money despite US litigiation. Selling hugely in Far East and North Africa.

John recommended Rotork. Design motorised valves for industry, main market in China 41%. Divi increased for last 30 years. Ex-divi date 4th May. Predicted price 520 currently 486. Predicted divi 3.5%. PE 20. 2B 4H 1S. Grph steadily rising over last 2.5 years. Based in Bath.

7. Voting

We have £4000 to spend. We're a bit cautious about spending so much without more homework i.e. Pablo's not here. Mark suggests £1000 in Cairn Energy, £1000 in Rotork, keep £2000 over until next meeting.

Mark will buy Monday, Rotork high/low Sell +/- 20%, Cairn Energy high/low Sell +30%/-20%.

9. Next Meeting

May 17th Air Balloon 8pm.

ACTION ITEMS

Action 1. Can we buy foreign shares?

Action by: Mark de H (from last month)

Action 2. Sort out Yahoo dealer recommendation weightings. What do they mean?

Action by: JP (from last month)

Action 3. Homework

Action by: All.

JP Coetzee