We held our second consecutive meeting in Leicestershire and almost half the club turned up ! I wouldn't be exaggerating if I said we overdosed on Fish, so much so we couldn't face dessert (even Terry).

Minutes of the November ExEC meeting held at The Tipsy Fisherman, Thornton on 9th November 2005.

Present:
Terry Emmony, Phil Jones, Julian Kern, Peter Sweeney, Cynthia Brooke, Steve Spence

Apologies:
Mike Arkless, Gordon Moore, Julie Grundy, Dan Robson, Andrew Smillie, Ann Nurse

No Response:
Debbie McDonnell, Di Gluchowski

Latest News
Our unit value has gone from 102.5p at the September meeting to 100.7p now, there is now over £24,500 in the fund, all members well in profit.
We held shares in 27 different companies, and assisted by more takeover activity, we had 13 companies in profit, with a further 6 making less than 10% loss in share value terms.

Sales
We had already sold Surf Control during then period between meetings as it reached the level most members agreed to sell (and then jumped of course!).
We decided to sell 2 of our 4 most profitable shares, being O2 (54% profit) and Friends Provident (32% profit) which we felt had reached their high point (or close enough) as well as a profit making company which I had read in 2 bank reports on its sector, that it was considered to be as high as it might go in the forseeable future, Mitchells & Butlers.
We also put a low sell target price of 180p on JKX Oil & Gas which is currently showing a 38% profit.

Investments
With a whopping £4,000 to spend we invested £1000 in Enterprise Inns (which was recommended as the best potential in both the banking reports I read on the Pub sector), a further £1000 in Royal Bank of Scotland making it our highest value holding, £1,000 in Brit Insurance, with £500 in service provider Babcock and £500 in Oxford Biomedica (thanks Ann, we'll be watching closely).

Future
The next meeting will be following the currently successful format of mid week evenings in Leicestershire on Wednesday 25th January 2006 at Award winning Restaurant (best Asian Restaurant 2005 in Leicestershire & Rutland)

I know from personal experience this one is much easier to find than the Tipsy Fisherman !. As we will need to book a table, please let me know your attendance.
Follow this link to our own Treasurer's maintained website.
http://www.littleindia-arnesby.biz/homepage.htm

I hope to see you there

In the meantime We wish you all a very Merry Christmas and Happy New Year

Phil