Minutes of the meeting of 5 July 2000 opening at 20.35 at the Old Dunn Cow Inn

Those present:

SS,KS,RD

Apologies for abscence:

KS,SC,DG,CW, JE,KM

Previous minutes:

Accepted to be a true and accurate account of the meeting.

Treasurer's report:

The treasurer reported a dividend payment of £14.96 from Latchway's and receipt of one extra share from a stock dividend for Kingfisher. The valuation for JM and KM, who have resigned from the club, was for £378.13. This will be paid out when confirmation that standing orders have been cancelled upon receipt of the next bank statement. The units that were due to be cancelled were offered for sale to other members. Following the additional letter that went out with last months minutes we have had replies from 7 members and 2 have purchased some extra units. This will leave the club with about £800 to invest next month. The members were then presented with a portfolio and price calculation.

Future investments:

Once again members were invited to select their top 5 choices from the list of 28 companies selected last month. The following companies progress to the next round: Greene King Johnson Matthey Geest Iceland Vodafone AirTouch Dart Group Christie Arjo Wiggins Appleton

A.O.B.

Owing to the nights poor attendance the pre-planned AGM had to be postponed. The clubs constitution states: Rule 3. Members shall be bound by the rules to be determined by members. Such rules may be varied by the majority resolution at a properly convened general meeting but the rules shall not at any time contravene the principles of the constitution. The constitution cannot be altered without agreement of 75% of the club for the time being. Another of the clubs rules that should be noted is: Rule 9. The clubs first AGM shall be within 15 months of inauguration. These points were discussed at some length and it is proposed to have the 75% rule changed to a more realistic level ASAP.

Meeting closed at 22.30pm. Next meeting 2/8/00 at 20.00pm