Untitled Document

Arian Investment Club
Monthly Meeting
Tuesday 10 November 2004

Meeting Held At: The Fox, Bredon

Present: Brian Turner (BRT) – Chairman & Acting Secretary
Jon Rogers (JR) – Treasurer
Martin Westover (MW)
Barbara Turner (BT)
David Brew
Pete Townley (PT)

Meeting commenced: 18.40 hours
Meeting concluded: 19.55 hours

Action
1. Apologies for Absence: Non Received

2. Confirmation of Minutes. The Minutes of the previous meeting were reviewed, approved and signed off by BRT.

3. Matters Arising. JR had heard nothing from DGB with respect to the queried subscription payments.-OngoingJR had not had chance to reconcile the £0.50 anomaly in the cash balanceSeptember Accounts had been emailed to all members by the treasurer who has now improved his improved version of the spread sheet. The Fool portfolio has been updated, Serco has been sold and LA fitness bought. PT was asked to select his horse which he did and chose Dobbin or rather epic DOB or the nearest thing to it. JR said he would research the Epic and select the nearest. If Pete wins I’m resigning! RR ‘B’ shares were now shown separately. JR was asked to investigate the dealing costs of these shares and whether they can be traded combined with the ‘A’ shares. DB said how well Chorion had done since we sold them which prompted PT to tell us stories about how much he enjoyed watching Noddy over his Rice Crispies in a morning but he still wanted to know what has happened to Chalkie the white golliwog. Victim of a racial attach if you ask me! DGBJRJR

4. Treasurers Report. JR Has updated the spreadsheet from day 1 which revealed that we had short-changed leaving members to the tune of £13. We feel sure that they would want us to have a drink at their expense! There was still a discrepancy of some 60p which JR was determined to find.We have approx £2000 in cash to purchase shares The fund was worth £11652 which is approx 7% down on the cost. DB was up 1% overall, Barb T up 13% everyone else was down. JRJR

5. Transactions. LA Fitness has been bought and was already showing a small gain.Several candidates were put forward as suitable buys: GKN; MKS (because they couldn’t possibly get any lower!), Vodafone on the back of their 3G launch, Capita, buy back into Chorion and Bioquell.A vote was taken and it was unanimous to buy £1000 of GKN mainly because of the dividends they are paying or are likely to pay and the fact that they are buying back their own share which should result in a price rise.Some debate took place about the merits of 3G and the quality of PTs shoes which, although very comfortable, lack real substance… bit like Marks and Spencer themselves! It was decided to leave any other acquisition until the next meeting in December so please do your research. JRALL

6. Horserace. Now JR has all the horses the portfolio would be completed. So far Novar (DB) is the run away winner JR

7. Any Other Business

8. Date of next meeting18.30… 14 December @ Little World ALL

Approved By Brian Turner
Chairman

Previous Minutes

October 2004

July 2004