Minutes of the September 2002 ExEC meeting
held on Sunday 15th September 2002 at the Griffin Inn, Plumtree

Present:
Julian Kern, Terry Emmony, Phil Jones

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

1. With £1,000 to invest we felt that the fact the meeting was not quorate should not prevent us making recommendations for investments.
The portfolio is standing at a value of £11,756, representing a unit value of 65.6p.There are currently no shares in profit, which is not surprising given the general state of the stock market.

We considered a number of companies - Centrica, Boots, Six continents, BP, Hays and Michael Page.
We also reviewed the movements of the 4 companies we sold in July, and overall the movements have been immaterial.

Our recommendation is to invest £500 in Centrica, which is well priced and to consider Boots and 6 Continents.
Before we invested, we wanted to avoid any difficulty for any member regarding investing in Centrica so we contacted Mike for his thoughts.
Mike said there would not be a problem, and responded that Boots looked worthwhile.
6 Continents announced demerger plans on Friday and the price went up 41p, so this morning I have placed orders to buy £500 of Centrica and £500 Boots (the target selling price is 600p for Boots, current price just above 500p).

The next meeting will be on Sunday 3rd November at The Pearl Chinese restaurant in West Bridgford beginning 12.00.
The Pearl have an informal chinese buffet lunch on Sundays which I can recommend. Map attached.

http://www.streetmap.co.uk/streetmap.dll?G2M?X=458621&Y=337713&A=Y&Z=1