Minutes of the meeting held on 21st November 2007 at the Hobby Horse.

Present:
Julian Kern, Terry Emmony, Phil Jones, Cynthia Brooke

Apologies:
Peter Sweeney, Steve Spence, Mike Arkless, Julie Grundy, Ann Nurse, Gordon Moore, Debbie McDonnell
Andrew Smillie, Dan Robson, Di Gluchowski

Latest News

Social news - we had been invited to the 7th anniversary celebration of the end of Energy Centres in Bolton, suggested date 6/12/07, which didn't suit any of us, though we thought it would be enjoyable, Terry was to respond that we'd be interested after Christmas and on a Friday or Saturday night.
The turbulent times have continued as as we met this time, the unit value had fallen to 123.0p We were 10% down since the start of November, following the FTSE very closely.
We also had just under £4,500 available to invest.

Sales
We deicded not to sell anything, considering that everything had been unfairly hit, and we consider our shareholdings all to be solid companies.

Investments
We decided to invest £1000 in Diageo, Marks & Spencer,, GlaxoSmithKline and Barclays.

AOB
A number of shares now are below or close to the stop loss price. We decided to see if they recovered by Friday this week. If they go up we hold, if lower we sell. [These shares were all higher so we hold for the time being - Terry]

Barclays our stockbrokers have asked for evidence from us of certain anti money laundering data.
Terry and I will provide what we can easily do, but we might have to get all members to submit some identification. I will be in touch again if this is necessary

Next Meeting
Will be in January 2008, date and venue TBA

Regards,

Phil