Minutes of the May 2002 ExEC meeting on Sunday 5th May 2002 at the Griffin in Plumtree.

Present:
Julian Kern, Terry Emmony, Phil Jones, Roy Brown, Julie Grundy

Apologies:
Mike Arkless, Cynthia Brooke, Ann Nurse, Steve Spence, Di Gluchowski, Rod Wood, Paul Holden,
Peter Sweeney, Debbie McDonnell, Roy Brown, Andrew Smillie, Julie Grundy, Ron Pierce.

1. With £900 available cash to invest, we considered whether any of our current shares were worth selling.
Boots, showing a profit of 14% at the moment was suggested and agreed as there had been a very recent sell recommendation in Investors Chronicle.

This made a further £700 available for investment.

No other shares looked to be worth selling, most of the other companies showing a loss to us, and those in profit were only just showing a gain.

We decided to continue to monitor Big Food Group, and if it doesn't move much in the next 3 months we might consider selling, even though it is currently showing a 50% loss.

For details of the current portfolio valuation, see our website: www.execinvestments.co.uk
BGEC
Centrica13


We had 2 strong recommendations for purchase:
First Choice holidays and Matalan.
Both are reasonably priced and take us into new sectors, as well as both having been recommended in the press recently.

Therefore we decided to invest £800 in each company when the market reopens at under 135p for First Choice and under 400p for Matalan.


With the lack of attendees at recent meetings we discussed changing the format of the meetings to see whether more members would attend.

We welcome ideas from you all which might allow / entice you to attend more frequently (Mike is of course excused, but ideas still welcomed)

Ideas we had that we'd like comments on were:
Hold the meetings only every second month,
hold them on the 2nd Sunday of the month
Try an evening meeting during the week
Sunday evening
Make the number of members required to have a quorum only 3 members
Have a booze cruise for a venue during the summer
Have a takeaway evening at a member's house one Saturday evening
Have a picnic somewhere accessible during the summer.
Try moving the meeting around the area / up north again.

With these suggestions, we have decided to hold the next meeting on Sunday 9th June as a Picnic at Wollaton Hall in Nottingham (weather permitting)

Also, Julian put his name down for the September meeting at his house, and on a slightly unrelated subject, Kate and I are due to move house in 4 weeks, so we're having a House Warming party on June 29th (if everything goes to plan) to which you are all invited.

I hope to hear from you all soon.

Phil