RenfrewBlue Posted April 3, 2015 Share Posted April 3, 2015 Surely king would have been aware of these issues when he made his statement regarding the nomad though? No idea. Depends what the unmentioned problem was. Quote Link to comment Share on other sites More sharing options...
Larky Masher Posted April 3, 2015 Share Posted April 3, 2015 Generally though delisting will significantly devalue the shares. Cheap shares for King? No it doesn't it may make less liquid but the delisting in itself shouldn't impact the value. Quote Link to comment Share on other sites More sharing options...
thplinth Posted April 3, 2015 Share Posted April 3, 2015 http://www.investopedia.com/terms/l/liquiditypremium.asp Dear oh dear...should maybe goggle shit before flapping your gums. Quote Link to comment Share on other sites More sharing options...
Langtonian Posted April 3, 2015 Share Posted April 3, 2015 Statement from Rangers First http://www.rangersfirst.org/rangers-first-statement/ Rangers First shares the Rangers Board’s disappointment that shares in RIFC PLC will no longer be listed on the AIM market and we appreciate that whether or not an AIM listing was maintained was never in the new directors’ gift. As the Club’s earlier statement highlighted, the delisting is simply the result of well documented failings in corporate governance and management of those who previously controlled the Company. I what utter pish,the simple reason behind the delisting is king and his mob not being able to secure a nomad the previous regime managed to have a Nomad in situ who were happy to continue until king took over. Quote Link to comment Share on other sites More sharing options...
Baz Posted April 3, 2015 Share Posted April 3, 2015 what utter pish,the simple reason behind the delisting is king and his mob not being able to secure a nomad the previous regime managed to have a Nomad in situ who were happy to continue until king took over. I'm sure the Nomad resigned before king took over. Quote Link to comment Share on other sites More sharing options...
Mark frae Crieff Posted April 3, 2015 Share Posted April 3, 2015 (edited) http://www.youtube.com/watch?v=x45BtoJpoks their song... hopefully.. Edited April 3, 2015 by Mark frae Crieff Quote Link to comment Share on other sites More sharing options...
Larky Masher Posted April 3, 2015 Share Posted April 3, 2015 http://www.investopedia.com/terms/l/liquiditypremium.asp Dear oh dear...should maybe goggle shit before flapping your gums. And you know the liquidity premium on the Rangers's shares? Rangers's shares aren't traded in huge volumes (there have been no trades since 4th March when only 84,536 shares, 0.1% of the shares issued were traded) probably because they aren't considered as worthwhile by serious investors. In contrast during the same period STV's shares were traded every day with peak trading at 1% of the shares issued, so whilst STV being delisted would depress their share price it shouldn't have the same impact on Rangers share price. Quote Link to comment Share on other sites More sharing options...
Langtonian Posted April 3, 2015 Share Posted April 3, 2015 I'm sure the Nomad resigned before king took over. thinks it was only days before actually meant to say they resigned when the knew king was taking over Quote Link to comment Share on other sites More sharing options...
thplinth Posted April 3, 2015 Share Posted April 3, 2015 cut & paste Quote Link to comment Share on other sites More sharing options...
Larky Masher Posted April 3, 2015 Share Posted April 3, 2015 cut & paste Find it elsewhere sweetcheeks. Quote Link to comment Share on other sites More sharing options...
mariokempes56 Posted April 3, 2015 Share Posted April 3, 2015 I'm sure the Nomad resigned before king took over. Think he just wandered off. Quote Link to comment Share on other sites More sharing options...
thplinth Posted April 4, 2015 Share Posted April 4, 2015 Pretty outrageous that King is trying to blame the previous board when it was directly his fault. But Easdale claims that the previous nomad would have still been in place had the new board not insisted that King, who has convictions for contravening South African tax laws, would eventually be appointed a director. "The previous board had a nomad and were listed and the listing was under jeopardy when the requisitioners requested to remove the current regime and this is why WH Ireland resigned," he told BBC Scotland. "They were given several options to keep the listing but decided to move forward with Dave heading it up." Easdale - whose brother, James, was one of the ousted RIFC directors - insisted he had been "quite excited" by the promises made by King's group and that the delisting "came as a bit of a shock". http://www.bbc.com/sport/0/football/32171135 Easdale is right here. They were de-listed directly because of King and then King stands up and blames the previous board. The exact opposite of the truth is his position. He really is a glib and shameless liar. More amazing is the willingness of some to accept his blatant bullshit. And now you have no auditor no nomad and and you are not subject to any listing rules. I think you have really ed up letting this guy have the keys. If his start is anything to go by you are especially ed. Already he is just talking out of his arse and making up utter shite. Quote Link to comment Share on other sites More sharing options...
Wine bibber Posted April 4, 2015 Share Posted April 4, 2015 Think he just wandered off. Superb.Who needs comedy clubs when you get your daily fill of laughs from the antics of the The Glasgow by the way Rangers social cause. I never thought i'd say this but i'm almost going to miss them.Do they still play fitba? Quote Link to comment Share on other sites More sharing options...
bruce778 Posted April 4, 2015 Share Posted April 4, 2015 Pretty outrageous that King is trying to blame the previous board when it was directly his fault. http://www.bbc.com/sport/0/football/32171135 Easdale is right here. They were de-listed directly because of King and then King stands up and blames the previous board. The exact opposite of the truth is his position. He really is a glib and shameless liar. More amazing is the willingness of some to accept his blatant bullshit. And now you have no auditor no nomad and and you are not subject to any listing rules. I think you have really ed up letting this guy have the keys. If his start is anything to go by you are especially ed. Already he is just talking out of his arse and making up utter shite. No need to exaggerate the new boards actions. Deloitte resigned as auditors while the old board was in charge. The nomad that was in place was clearly incompetent given the goings on at the company on their watch. They were clearly in the old boards pocket so I don't buy this nonsense that they resigned out of principle or concerns about the new board. Quote Link to comment Share on other sites More sharing options...
thplinth Posted April 4, 2015 Share Posted April 4, 2015 Would Dave King have succeeded in getting the fans to remove the old board had they known the shares would be de-listed, that he had no Nomad lined up and was just telling them that to get their votes? Maybe he never had any intention of getting one but said it anyway. Whatever the truth I would be pretty angry with him if I was a shareholder. People backed him based on statements he made which have now turned out to be bullshit. He is certainly not being honest about his description of what happened with the nomad and whose fault it was. It is him who is to blame and you'd have to suspect now it was not incompetence but possibly a deliberate deception. Does King have any track record as a liar? This is not looking good. Dodgy start, big time. Quote Link to comment Share on other sites More sharing options...
thplinth Posted April 4, 2015 Share Posted April 4, 2015 hmmmm... been doing a bit of reading on your boy King. It is not just the tax fraud it is also how he made his dough to begin with... King made about R1,2-billion from the sale of shares in Specialised Outsourcing, the company he founded to handle treasury operations for parastatals and government bodies. The company’s share price crashed not long afterward, as news of the sales trickled out. It was pushed down further as concerns about the company’s accounting practices grew and King moved on to a new venture, Financial Insourcing Specialists. Angry institutional shareholders racked up massive losses while revenue authorities tried to reconcile King’s apparent enjoyment of a wine farm, a Ferrari and a private jet with his modest reported income. http://mg.co.za/article/2008-05-30-dave-kings-bermuda-triangle Also this caught my eye... King was originally indicted on 322 counts including fraud, tax evasion and evasion of exchange control regulations, as well as money-laundering and racketeering. And this... Sanlam, Old Mutual, Coronation and Southern Life tried to make King accountable, claiming that he fudged the financials and manipulated the share price. That, too, has faded from memory, and is no more than a historical footnote. http://www.bdlive.co.za/opinion/columnists/2013/09/02/undictated-the-dogged-mr-chipps-who-brought-dave-king-to-book IMHO you lot are ing mental backing Mr King. Good luck ya crazy bams. Quote Link to comment Share on other sites More sharing options...
thplinth Posted April 4, 2015 Share Posted April 4, 2015 (edited) Just following the links to the sources on his wiki page... http://en.wikipedia.org/wiki/Dave_King_%28businessman%29#cite_note-12 Following the transfer to South Africa by his employer, King took on a number of business roles and accumulated substantial personal wealth. The extent of King's wealth remains undisclosed but was sufficient for him to be included in a South African 'Rich List' in 2012.[2] He was an adviser for the South African Post Office and the South African Reserve Bank in his early stages before establishing a management company, Specialised Outsourcing, that won a contract to manage the treasury operations of Umgeni Water. That leads one to: 11) OUTSOURCING OF TREASURY FUNCTION TO SPECIALIZED OUTSOURCINGUmgeni Water outsourced its treasury function to SOL under what it widely interpreted as riddled with controversies. NEHAWU objected on the outsourcing of the treasury. The matter now is underinvestigation by the Scorpions and already two of its Senior Executives Dave King and Greg Morries had been charged for corruption and fraud in the Pietermaritzburg Court about two months ago.NEHAWU, COSATU and SACP were than appalled when Umgeni Water quickly settled on almost 2 years litigation case after the former SOL Executives were asked to appear in court to face corruptions and fraud charges. The decision to settle with SOL was taken by improper constituted Board meeting and it costed the company R21 ,5 million rands. We are of the strong view that if proper information were shared with the Board a different decision might have been taken. NEHAWU has evidence that Dave King and the Chairperson of the Board signed an agreement admitting that there were irregularities in the contract. I wonder how these contracts that ultimately made him rich were won, riddled with controversies does not sound too healthy. And this is the guy you have brought in to clean up the club. edit: maybe made some good contacts at Umgeni Water when working in SA for Weir Pumps? Who knows... Edited April 4, 2015 by thplinth Quote Link to comment Share on other sites More sharing options...
Langtonian Posted April 4, 2015 Share Posted April 4, 2015 (edited) de listing suits king down to the ground as he can do whatever he wants now underhand or not without announcing it to all and sundry Edited April 4, 2015 by Langtonian Quote Link to comment Share on other sites More sharing options...
Parklife Posted April 4, 2015 Share Posted April 4, 2015 hmmmm... been doing a bit of reading on your boy King. It is not just the tax fraud it is also how he made his dough to begin with... Also this caught my eye... And this... IMHO you lot are ing mental backing Mr King. Good luck ya crazy bams. The Bears were told by all and sundry that King was dodgy as feck and a massive liar. But he's a "Rangers man" Quote Link to comment Share on other sites More sharing options...
bruce778 Posted April 4, 2015 Share Posted April 4, 2015 The Bears were told by all and sundry that King was dodgy as feck and a massive liar. But he's a "Rangers man" It's a bit early for the I told you sos that you and many others seem so eager to unload. The previous board did so badly that the auditors resigned! I would much rather the current board including king than the last lot. Quote Link to comment Share on other sites More sharing options...
Scotty CTA Posted April 4, 2015 Share Posted April 4, 2015 Out of the frying pan... Quote Link to comment Share on other sites More sharing options...
Parklife Posted April 4, 2015 Share Posted April 4, 2015 It's a bit early for the I told you sos that you and many others seem so eager to unload. Is it? King has already been proven to be a liar. It's too early to say whether he'll be better or worse for Rangers than the previous board. He's made an absolute James Hunt of a start though. Quote Link to comment Share on other sites More sharing options...
Larky Masher Posted April 4, 2015 Share Posted April 4, 2015 cut & paste Found the source of my cutting and pasting yet? Quote Link to comment Share on other sites More sharing options...
RenfrewBlue Posted April 4, 2015 Share Posted April 4, 2015 de listing suits king down to the ground as he can do whatever he wants now underhand or not without announcing it to all and sundryThis is probably as close to the truth as we're likely to get. The support needs to keep buying the shares to get as much of a say as possible. Quote Link to comment Share on other sites More sharing options...
Debian Posted April 7, 2015 Share Posted April 7, 2015 Dave King cleared to be a Rangers Director. Quote Link to comment Share on other sites More sharing options...
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