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Rangers are Rocking; Scottys Financial insight inside.


Speirs  

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  1. 1. Was Speirs talking the truth or lying

    • Yes
      54
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      10

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Ha oh dear. I must have missed the part where I shouted really loudly. I didn't realise there was audio on here. I think maybe when you read it you must have read it in a shouting voice really loudly, which is a bit strange.

Anyway, the spl wouldn't be ignoring their guidelines - they would be taking into account examples which the guidelines expressly state are illustrative only, ie not binding rules.

The fact that he is able to be a director indicates that the regulators, who are aware of his issues in South Africa, have no issue with him running a company in either country, ie they think he is a fit and proper person. That would mean the spl holding him to a higher standard than the regulators. It's nonsense to dismiss that as irrelevant.

I'm not sure what enquiry your talking about re Craig whyte....?

1. There's no such thing as the SPL anymore.

2. I'm taking about SFA guidelines.

Using the rules of the association that Rangers are a member, rather than the SA legal system is "nonsense"? What a bizarre logic.

The SFA may very well cave to pressure and let King sit on the board, however in doing so they will be ignoring their own guidelines.

I don't have time to check right now, pretty sure it was the report carried out by Lord Nimmo Smith that criticised King's failure to do anything to stop Whyte's destruction of your club.

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Is Castle Greyskull still riddled with Asbestos?

1. It's Snake Mountain. Heman and the good guys lived in Castle Greyskull

2. There's nothing wrong with having asbestos in buildings. It's perfectly safe unless it is disturbed.

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1. It's Snake Mountain. Heman and the good guys lived in Castle Greyskull

2. There's nothing wrong with having asbestos in buildings. It's perfectly safe unless it is disturbed.

Ye know too much sir!

Apparently they've not been able to afford any proper maintenance on the stadium for 4 years, wouldnt have though it was an entirely great thing to have, in terms of any future renovations, cost wise and also the effects of this on the value of the stadium as a whole?

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All the best Eddard I hope it works out for you and the rest of the fans

Fingers crossed. Still a long way to go to rid ourselves of the deadweights and leeches but this will hopefully be the start. As long as the fans keep buying the shares though. It's the only way to ensure a level of control.
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Fingers crossed. Still a long way to go to rid ourselves of the deadweights and leeches but this will hopefully be the start. As long as the fans keep buying the shares though. It's the only way to ensure a level of control.

Aye.Looks like King could be in by midweek.

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Somers set to resign. Should be announced tomorrow to the stock exchange . Victory almost assured for the supporters of the resolution.

Finally some light mate.

We are a million miles from being where we want to be but this is hopefully a first step in the right direction.

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why can't I quote posts anymore?!

Anyway - replying to Flure, re getting the word "hun" put on a proscribed list.

For what reasoning? Offensive to rangers fans?! To protestants?! That wouldn't make any sense

Edited by Maq
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Somers exits with dignity :-)) :-)) :-)) The fact that they still have Somers as the contact sums up to total shambolic nature of this current board. :blush:

2 March 2015
Rangers International Football Club plc

("Rangers" or the "Company")

Board Changes



The Company announces that David Somers, Chairman, has resigned from the boards of the Company and its subsidiaries, with immediate effect.



Commenting on his resignation, David Somers said "I have resigned as Chairman of Rangers International Football club plc. I have worked in the City of London, the world's greatest financial centre for decades and enjoyed considerable success. When I was approached about the Chairmanship of Rangers, friends warned me that the world of football has different rules and codes of behaviour. I now know that is a gross understatement. I am a non-confrontational man and have always tried to bring harmony to boardrooms and with stakeholders. At the risk of antagonising my army of critics I would point out that Rangers managed to pay its bills and avoid going under during my tenure. These critics might not agree with how we achieved this. I look forward to alternative solutions from whoever is running the club in the future. Despite the personal attacks on me from various sources I genuinely wish the club the very best in the future and I am confident that with such a passionate and vociferous fan base they will be restored to their former glories."


For further information please contact:
Rangers International Football Club plc
Tel: 0141 580 8647
David Somers
WH Ireland Limited
Tel: 020 7220 1666
Adrian Hadden / Paul Shackleton
Newgate
Tel: 020 7148 6143
Roddy Watt / Ed Treadwell


This information is provided by RNS
The company news service from the London Stock Exchange
Edited by EddardStark
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Looks like the huuns may get their wish and get Davie Kings lot in running the club. However I am still sceptical of the upside. So has king and his mates got £10m to pay ashley back? if not Ashley still runs the show. On top of that they will still be funding Ashleys lucrative contracts, not to mention the ones Charlie Green has in place. So thats a pretty large outlay just to tread water down Ibrox way.

King may have the money - but he has shown zero willingness to put it in before. Or will it be up to the fans again to fund the club?

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Looks like the huuns may get their wish and get Davie Kings lot in running the club. However I am still sceptical of the upside. So has king and his mates got £10m to pay ashley back? if not Ashley still runs the show. On top of that they will still be funding Ashleys lucrative contracts, not to mention the ones Charlie Green has in place. So thats a pretty large outlay just to tread water down Ibrox way.

King may have the money - but he has shown zero willingness to put it in before. Or will it be up to the fans again to fund the club?

People seem to be overlooking a lot of stuff that has been stated publicly many times. First of all it's not £10M, it's £5M. The latest loan from Ashley was 2 tranches of £5M and the second one hasn't been drawn down yet, although it wouldn't come as any surprise if Llambias and Leech did that within the next couple of days to strengthen Ashley's position. At the moment though it's "only" £5M.

King has also stated many times that the reason he was reluctant to put money up previously was because he didn't want to line the pockets of the outgoing board and shareholders like Green, Ahmed, Stockbridge etc who had already siphoned so much cash out of the club. He has stated his intentions to invest significantly and to hold another share issue for short term funding. While the recent share issues weren't particularly well received I think with a more reliable and trustworthy board in place (stop it) as well as a solid business plan we'll see better results this time round.

Lastly, don't forget about Park, Letham and Taylor. They offered up £6M previously when the board said they only needed £5M only to be gazumped by Ashley offering £10M. They stated at the time that given the opportunity they would have matched Ashley's offer but the board never went back to them. As far as I am aware the initial offer of £6M has never been withdrawn and it wouldn't surprise me if they come in to the fold and provide funding in return for a place on the board.

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