Here are the minutes of March's meeting held at the Hobby Horse, Syston on 28th March 2007.

Present:
Terry Emmony, Phil Jones, Peter Sweeney,

Apologies:
Julian Kern, Ann Nurse, Mike Arkless, Andrew Smillie, Julie Grundy, Gordon Moore, Di Gluchowski, Debbie McDonnell,
Cynthia Brooke, Steve Spence, Dan Robson.

Latest News
Our unit value has gone from previous all time high just prior to the January Meeting of 138.3p to a new all time high and stood at 141.0p at the time of the meeting.
The fund value sat at more than £39,100.
We held shares in 33 different companies, and we had 23 companies in profit despite the market's wobbles in Feb/March.

Sales
We decided not to sell any shares, so we had just over £1,200 (including April subs) available to invest.

Investments
We considered and decided to invest £600 in each of Ceres Power and Galiform.

Other Business
In line with our new stop loss policy we decided to reset the stop loss sell price trigger points for our portfolio at 90% of Wednesday's value thereby attempting to capture the increased value as the market rises. These prices would continue to generate a circular to check whether we should sell.
However where we had 4 companies sitting just below the initial stop loss value, we decided to reset the stop loss value at 95% of Wednesday's price and if the price fell below that level the share would automatically be sold. For your information, the 4 companies in that position were Alliance Pharma, Brixton, McAlpine and Tate & Lyle. [The stop-loss figures are shown in red on the daily valuation page of this site]

I have been informed by the brokers that Royal Bank of Scotland are proposing a Bonus share issue which if approved on April 25th, would see 2 new shares issued for every 1 we own, meaning we would suddenly have 681 shares, but the value would instantly drop, so the overall value would be the same as now.

The latest value of the portfolio is 144.6p per share, the total value of the club has risen above £40,000 during the week and we have 2 holdings showing more than 100% profit

For your own finances have a look at quidco.com, it is an online cooperative where you can get all sorts of products and services with cash back, Terry's son got his home insured for -£10 ! [Achieved by setting up separate house & contents insurance with a £125 cashback on each and an introductory offer to new customers of that insurance company of £50 M & S vouchers; a net cost of minus £10 - Terry]

Future
The next meeting will be away weekend for the AGM. Please let me have the dates when you can make (if you intend to come along) and we'll see what we can come up with starting with latter half of April.

I hope to see you soon.

Phil