12th February 2008

Minutes of Meeting of The Investment Team Shareclub

Date and time: 12 February 2008

Venue: Air Balloon Pub, Birdlip

Attendees:          Andy "Cobbs" Robinson
                            Paul "Pablo" Tompsett
                            Mark Nicholls
                            JP Coetzee
                            Mark de Hora
                            Rudi Thoemmes

AGENDA

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

MINUTES

1. What we've sold

West Pioneer lost £616, 31%

2. Current prices

		Price	Total	12-Feb-08	Total
	No	(p)	Invested	Bid	Worth	%
				Price

AIGG	385	311.19	1198.07	419.18	£1,614	35%
AUG	939	106.45	999.57	84.00	£789	-21%
BIFF	743	242.06	1798.52	363.00	£2,697	50%
CNA	468	384.31	1798.58	323.00	£1,512	-16%
HSBA	431	927.18	£3,996.15	722.00	£3,112	-22%
LCTY	74	1609.22	£1,190.82	1,888.00	£1,397	17%
LRUS	39	3007.28	£1,172.84	2,819.00	£1,099	-6%
QQ	1062	190.26	£2,020.57	191.00	£2,028	0%
RNWH	2213	90.34	£1,999.21	91.00	£2,014	1%
UU	162	737.81	£1,195.26	694.00	£1,124	-6%

3. Dividends

HSBC £37

Biffa £17

4. Adjust buy/sell

Remove Stop Loss on all.

5. Paperwork

Stockbroker cocked up a transaction and is owed £34. Affect on unit price this month. Mark cocked up John's cash but paid him from his own pocket.

6. Homework

We were going to vote to sell a share. But we think it's pretty strong and balanced now so changed our minds. HSBC so low it's not worth it.

Mark de H recommended Aveva from Digital Look heat maps. S/w to computer services to plant, power and marine industries. Over 80% of world's oil plants etc etc. 7SB 1N. Divi 0.5%, PE 33. Market cap £707M. Graph pretty much followed the market but recently rising.

Rudi recommended infrasructures e.g. bridges falling to bits in the US. Also British Coal UKC, have lots of cheap land for cheap housing. 3i have new investment company for infrastructure deals in US in India. Hot topic ATM because (a) bridges falling down (b) public money to get economy going. Keller Engineering consultants for big building projects globally. Share price fallen but recently rising. Rudi particularly recommends the 3i investment company.

Rudi also checked out some of the shares we didn't buy. Gold did well, also Potash fertiliser.

Rudi checked out what we've got. Centrica (Gas) down a bit but solid. Qinetiq ticking over nicely.

7. Voting

We have £2500 to spend. We will split this with £1250 into Aveva AVV and £1250 into 3i infrastructure investment company 3IN.

8. AOB

Cobbs will be wanting his money out at some point in the future as he is moving. Will take it out at 11th of March. Rudi will make this up.

9. Next Meeting

March 20th Air Balloon. Rudi to bring new people??

ACTION ITEMS

Action 1. Look at sectors involved in infrastructure projects i.e. Land, construction, building, banks. UKC UK Coal, Keller.