Minutes of the ExEC meeting held at The Royal Hotel, Hull on 16th September 2007.

The 2007 'away day' was organised by Julie and was held in the once opulent (but still not bad!) surroundings of the Royal Hotel in the centre of Hull.The hotel is next to the railway station - the back door leads straight onto the concourse and it is well placed for the hotspots of Hull. (It was lively outside until dawn).
(left, the view from the Nurse's room, right Hull centre)

Five members and partners attended and we took advantage of the hotel bar (which served Caffreys) before going onto the town for dinner. First choice restaurant was full so we moved on to a very small one, Masons, which had been recommended to us but had recently changed hands. The maitre d' and the Chef passed our pavement interview and we had an excellent meal.
The meeting on Sunday morning was thankfully not too noisy or taxing and we had the advantage this time of a wireless internet connection to help with research into suggestions.

Present:
Julian Kern, Terry Emmony, Ann Nurse, Julie Grundy, Andrew Smillie

Apologies:
Phil Jones (working all weekend....), Cynthia Brooke, Steve Spence, Mike Arkless, Gordon Moore, Debbie McDonnell, Dan Robson, Di Gluchowski

Latest News
After a very volatile period on the stock market caused by the global credit crunch, the value of our fund had fallen to 133.6p per unit, -1.1p (0.8%) since the beginning of September. The FTSE 100 had fared better, only 0.2% down in the month to 6,289. The 'stop loss' policy meant that the number of our holdings had shrunk to 19 with 10 in profit and 9 loss making (including Advance Visual Comms 100% but still shown in the portfolio). For the first time almost since the beginning of the club there was no 'Thus' on the list.

Sales
No shares were put forward for selling.

Investments
We had a total of £9,700 available to invest. We considered Brixton, Speedy Hire, Topps Tiles, Associated British Foods, and Umeco.

We decided to invest £2,000 each in Brixton, Speedy Hire and Topps Tiles and to leave the balance available for investment in calmer times.

Other Business
Tony Golden has decided to join the club

Next Meeting
No dates were discussed for the next meeting (sorry Phil)

Terry