6th June 1999
Hello all, welcome to our first online update - here's the news :
I've had a cheque off Ali and Simon, I'm seeing Brad tomorrow and he should give me his then. Just leaves you Marc, send me one when you can - I won't cash it until the beginning of next month.
For our dealing account, what I propose to do is open a share club account with the Yorkshire building society. This allows us to pay in cash which is held in an account and earns interest. All dealing is done from this account with dividends and receipts paid back into it. We can set up standing orders to this account. The charges and commission are quite cheap, although there is a quarterly charge of £5, but between us this is nothing I say. They ask for addresses and signatures of all members, but I am going to phone them tomorrow and explain to them the situation with us being geographically separate and also Yvette's special case. To apply two members need to sign the forms and submit to a credit cheque. As I am seeing Brad tomorrow, hopefully we will be able to sort this then, if that's OK with you Brad? If this is a problem for anyone, please let me know, otherwise I'll get the application sorted ASAP and pay in your cheques.
I also think that purchasing the Proshare manual and registering the group with proshare will be useful, I will also do this if you all agree. Registration is free for the first year and means we'll receive some info on clubs and investment, regular newsletters and more. Also another suggestion is to review the subscription rate in the future and perhaps to top up the account with a lump sum (eg an extra 100 each or an extra few quid one month). This would require unanimous consent. I would also welcome your comments on this, but the main thing is to sort out the above if we are to set up by the end of this month / beginning of next (especially with me on holiday 19th to 27th).
A minor issue is our name (not intending any offense Si) will Bradford Grads do?
So to summarise, I basically need an OK to purchasing the manual and to setting up the account, please send your comments on the name and topping up the account.
Regards,
James
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