Rangers are Rocking; Scottys Financial insight inside. - Page 428 - Football related - Discussion of non TA football - Tartan Army Message Board Jump to content

Rangers are Rocking; Scottys Financial insight inside.


Speirs  

64 members have voted

  1. 1. Was Speirs talking the truth or lying

    • Yes
      54
    • No
      10

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1 hour ago, mccaughey85 said:

Perhaps someone could explain in simplistic terms what exactly is going on here in regards why he has to offer to buy shares

If you takeover more than 30% of a company then the takeover rules say you must make an offer to buy the remaining shares.

Dave King claimed he doesn't own more than 30% and he didn't know about that rule and he's skint anyway.

The takeover appeal board ruled he acted 'in concert' with the other directors to own more than 30% so the takeover rules apply. Ignorance is not an excuse and Kings financial situation is not a matter for the TAB.

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6 minutes ago, Big Col said:

If you takeover more than 30% of a company then the takeover rules say you must make an offer to buy the remaining shares.

Dave King claimed he doesn't own more than 30% and he didn't know about that rule and he's skint anyway.

The takeover appeal board ruled he acted 'in concert' with the other directors to own more than 30% so the takeover rules apply. Ignorance is not an excuse and Kings financial situation is not a matter for the TAB.

Much appreciated. Cheers

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11 hours ago, Larky Masher said:

Currently quoted at 32p but there's been no trading activity for months as far as I can see.

There are quite a few shareholders that just won't sell to King, such as the supporters groups, that I'd find it surprising if many folk took up the offer. 

These are the bigger shareholders external to Kings group. 

Mike Ashley sold his shares a couple of months ago but I can't remember what for. 

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18 hours ago, ShedTA said:

I know you have been critical of king larky - you must be despairing at the moment with the latest stuff?

Not really much you can say. King has shown no vision for where the club is going and no ability to get the finances in order, why the f*ck Pedro was appointed is mystery as is why he was allowed to pish so much money against the wall "improving the squad". Once the other directors stop putting money in we'll be well and truly f*cked and that could be sooner rather than later.

As for yesterday I don't have the strength so discuss that............

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On 12/22/2017 at 7:16 PM, ShedTA said:

Can he even afford to do a share offer?

Not read the judgement yet, but I know in the past that the money required to purchase the shares has been required to be lodged with a third party prior to the offer being made- even if no one takes it up. Not sure if the panel asked for this though. Too busy to check.

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On 24/12/2017 at 1:34 PM, Larky Masher said:

Not really much you can say. King has shown no vision for where the club is going and no ability to get the finances in order, why the f*ck Pedro was appointed is mystery as is why he was allowed to pish so much money against the wall "improving the squad". Once the other directors stop putting money in we'll be well and truly f*cked and that could be sooner rather than later.

As for yesterday I don't have the strength so discuss that............

Yep. I've no doubt he wants the best for rangers, but I just don't think he has been the man to sort the club out.

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On 24/12/2017 at 5:20 PM, Stu101 said:

Not read the judgement yet, but I know in the past that the money required to purchase the shares has been required to be lodged with a third party prior to the offer being made- even if no one takes it up. Not sure if the panel asked for this though. Too busy to check.

Ah well we will see. Don't even know what the timescales are.

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On 26/12/2017 at 9:43 AM, ShedTA said:

Ah well we will see. Don't even know what the timescales are.

Think I saw somewhere yesterday that King was appealing the decision, so probably nothing happening on it now for a few weeks at least. 

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  • 2 weeks later...
27 minutes ago, macy37 said:

Odds on the Huns getting relegated slashed then betting on it suspended.

Surely not??

Be very odd with no external debt.

Be one of those bloggers weirdo bloggers I suspect. We are still waiting for updates on such things as the water being stolen for Ibrox via a secret pipe from a Church, the roof of Ibrox falling down, the four times we were supposed to go into administration last year, and the money laundering scandal involving the Mexican drug cartel money.

 

Edited by Stu101
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