Parklife Posted October 30, 2015 Share Posted October 30, 2015 I would expect nothing less from our dashing hero! Quote Link to comment Share on other sites More sharing options...
ShedTA Posted October 30, 2015 Share Posted October 30, 2015 Big mike making some moves now apparently. Quote Link to comment Share on other sites More sharing options...
EddardStark Posted October 30, 2015 Share Posted October 30, 2015 (edited) Friday, 30 October 2015, 20:00by Rangers Football Club After careful consideration the Board has determined that it is not appropriate to proceed with a share issue and listing on the ISDX market until the criminal proceedings being brought against Charles Green, Imran Ahmed, Craig Whyte and others are concluded. The Board is satisfied that from a financial perspective there is no short term requirement for the funding that would have flowed from a share issue and that any funds that may be required for the Group will be made available as and when required from the existing shareholder / lenders. Dave King, Douglas Park, George Letham and George Taylor have reaffirmed their commitment to making further loan facilities available to Rangers International Football Club PLC (RIFC) on the same no fees and no interest basis as the existing loan facilities and have also confirmed the continuation of the existing facilities which they are providing to RIFC on the same basis. The facilities to be made available more than cover the projected shortfall for this Season and beyond. The Board further understand that additional facilities can be made available as and when required for investment in the team. Any such investment will be reviewed on a case by case basis in accordance with prior statements. The Group’s accounts will be circulated to shareholders for approval in the next few days. The lenders have indicated that, at an appropriate juncture, they would be prepared to convert their loans into share capital. To facilitate this, a resolution will be presented to the AGM to permit shares to be issued by RIFC on a non pre-emptive basis. The Board would like to see this resolution passed but this is not a condition of funding being made available. The resolution will be a special resolution and would require the support of 75% of those shareholders voting at the AGM. The Board recognises that funding of the sort being provided by its shareholder / lenders would more naturally be made available as an equity investment and believes it would be in the best interests of RIFC’s shareholders if the loans could be converted. Edited October 30, 2015 by EddardStark Quote Link to comment Share on other sites More sharing options...
Debian Posted October 30, 2015 Share Posted October 30, 2015 Excellent statement there Eddard. And a massive kick in the teeth to Phil 3 Names and 'John James' crew Quote Link to comment Share on other sites More sharing options...
ShedTA Posted October 30, 2015 Share Posted October 30, 2015 (edited) Excellent statement there Eddard. And a massive kick in the teeth to Phil 3 Names and 'John James' crew Just so you know, it wasn't eddard that made the statement. It came from the club. Edited October 30, 2015 by ShedTA Quote Link to comment Share on other sites More sharing options...
Debian Posted October 30, 2015 Share Posted October 30, 2015 Just so you know, it wasn't eddard that made the statement. It came from the club. Ah was it. In that case King oot. Quote Link to comment Share on other sites More sharing options...
EddardStark Posted October 31, 2015 Share Posted October 31, 2015 We actually owe a small debt of gratitude to the SFA. Limiting Ashley's ability to acquire shares to a maximum of 8.92% has done us a favour. Quote Link to comment Share on other sites More sharing options...
EddardStark Posted October 31, 2015 Share Posted October 31, 2015 Big mike making some moves now apparently. Go on... let us in on the secret Quote Link to comment Share on other sites More sharing options...
thplinth Posted October 31, 2015 Share Posted October 31, 2015 Friday, 30 October 2015, 20:00by Rangers Football Club After careful consideration the Board has determined that it is not appropriate to proceed with a share issue and listing on the ISDX market until the criminal proceedings being brought against Charles Green, Imran Ahmed, Craig Whyte and others are concluded. Or we are using it as an excuse to cover the fact we were unable to get listed. Or don't want to. The Board is satisfied that from a financial perspective there is no short term requirement for the funding that would have flowed from a share issue and that any funds that may be required for the Group will be made available as and when required from the existing shareholder / lenders. Which could include Mike Ashley. Dave King, Douglas Park, George Letham and George Taylor have reaffirmed their commitment to making further loan facilities available to Rangers International Football Club PLC (RIFC) on the same no fees and no interest basis as the existing loan facilities and have also confirmed the continuation of the existing facilities which they are providing to RIFC on the same basis. Interesting bit of deflection. This may be true but are they also borrowing more from Big Mike? You will note they do not explicitly say they did not. The facilities to be made available more than cover the projected shortfall for this Season and beyond. The Board further understand that additional facilities can be made available as and when required for investment in the team. Any such investment will be reviewed on a case by case basis in accordance with prior statements. So it appears Phil is correct. The business continues to accumulate losses and has no loan facility from a bank, hence the owners are forced to keep lending it money. The Group’s accounts will be circulated to shareholders for approval in the next few days. I am guessing you won't be able to understand why the expenses are so high. Same as always. The lenders have indicated that, at an appropriate juncture, they would be prepared to convert their loans into share capital. To facilitate this, a resolution will be presented to the AGM to permit shares to be issued by RIFC on a non pre-emptive basis. The Board would like to see this resolution passed but this is not a condition of funding being made available. The resolution will be a special resolution and would require the support of 75% of those shareholders voting at the AGM. The Board recognises that funding of the sort being provided by its shareholder / lenders would more naturally be made available as an equity investment and believes it would be in the best interests of RIFC’s shareholders if the loans could be converted. Ahhh yes get rid of the preemptive rights. Tried this before and failed. He keeps coming back to this and if I was a shareholder I would be very uncomfortable with it. Maybe search this topic for the word 'dilution'. Quote Link to comment Share on other sites More sharing options...
EddardStark Posted October 31, 2015 Share Posted October 31, 2015 (edited) Friday, 30 October 2015, 20:00by Rangers Football Club After careful consideration the Board has determined that it is not appropriate to proceed with a share issue and listing on the ISDX market until the criminal proceedings being brought against Charles Green, Imran Ahmed, Craig Whyte and others are concluded. Or we are using it as an excuse to cover the fact we were unable to get listed. Or don't want to. The Board is satisfied that from a financial perspective there is no short term requirement for the funding that would have flowed from a share issue and that any funds that may be required for the Group will be made available as and when required from the existing shareholder / lenders. Which could include Mike Ashley. Dave King, Douglas Park, George Letham and George Taylor have reaffirmed their commitment to making further loan facilities available to Rangers International Football Club PLC (RIFC) on the same no fees and no interest basis as the existing loan facilities and have also confirmed the continuation of the existing facilities which they are providing to RIFC on the same basis. Interesting bit of deflection. This may be true but are they also borrowing more from Big Mike? You will note they do not explicitly say they did not. The facilities to be made available more than cover the projected shortfall for this Season and beyond. The Board further understand that additional facilities can be made available as and when required for investment in the team. Any such investment will be reviewed on a case by case basis in accordance with prior statements. So it appears Phil is correct. The business continues to accumulate losses and has no loan facility from a bank, hence the owners are forced to keep lending it money. The Group’s accounts will be circulated to shareholders for approval in the next few days. I am guessing you won't be able to understand why the expenses are so high. Same as always. The lenders have indicated that, at an appropriate juncture, they would be prepared to convert their loans into share capital. To facilitate this, a resolution will be presented to the AGM to permit shares to be issued by RIFC on a non pre-emptive basis. The Board would like to see this resolution passed but this is not a condition of funding being made available. The resolution will be a special resolution and would require the support of 75% of those shareholders voting at the AGM. The Board recognises that funding of the sort being provided by its shareholder / lenders would more naturally be made available as an equity investment and believes it would be in the best interests of RIFC’s shareholders if the loans could be converted. Ahhh yes get rid of the preemptive rights. Tried this before and failed. He keeps coming back to this and if I was a shareholder I would be very uncomfortable with it. Maybe search this topic for the word 'dilution'. Yeah I suppose you can read it into it what you want. Certainly The current legal case with Ashley and also the fraud trial don't help. I doubt Ashley will be investing or loaning to Rangers but nothing is ever certain in football. Call me naive but I think the King, Letham, Taylor and Park have the best interests of the club at heart. The fan share ownership is a slow burner but still growing. Edited October 31, 2015 by EddardStark Quote Link to comment Share on other sites More sharing options...
ShedTA Posted October 31, 2015 Share Posted October 31, 2015 Friday, 30 October 2015, 20:00 by Rangers Football Club After careful consideration the Board has determined that it is not appropriate to proceed with a share issue and listing on the ISDX market until the criminal proceedings being brought against Charles Green, Imran Ahmed, Craig Whyte and others are concluded. Or we are using it as an excuse to cover the fact we were unable to get listed. Or don't want to. The Board is satisfied that from a financial perspective there is no short term requirement for the funding that would have flowed from a share issue and that any funds that may be required for the Group will be made available as and when required from the existing shareholder / lenders. Which could include Mike Ashley. Dave King, Douglas Park, George Letham and George Taylor have reaffirmed their commitment to making further loan facilities available to Rangers International Football Club PLC (RIFC) on the same no fees and no interest basis as the existing loan facilities and have also confirmed the continuation of the existing facilities which they are providing to RIFC on the same basis. Interesting bit of deflection. This may be true but are they also borrowing more from Big Mike? You will note they do not explicitly say they did not. The facilities to be made available more than cover the projected shortfall for this Season and beyond. The Board further understand that additional facilities can be made available as and when required for investment in the team. Any such investment will be reviewed on a case by case basis in accordance with prior statements. So it appears Phil is correct. The business continues to accumulate losses and has no loan facility from a bank, hence the owners are forced to keep lending it money. The Group’s accounts will be circulated to shareholders for approval in the next few days. I am guessing you won't be able to understand why the expenses are so high. Same as always. The lenders have indicated that, at an appropriate juncture, they would be prepared to convert their loans into share capital. To facilitate this, a resolution will be presented to the AGM to permit shares to be issued by RIFC on a non pre-emptive basis. The Board would like to see this resolution passed but this is not a condition of funding being made available. The resolution will be a special resolution and would require the support of 75% of those shareholders voting at the AGM. The Board recognises that funding of the sort being provided by its shareholder / lenders would more naturally be made available as an equity investment and believes it would be in the best interests of RIFC’s shareholders if the loans could be converted. Ahhh yes get rid of the preemptive rights. Tried this before and failed. He keeps coming back to this and if I was a shareholder I would be very uncomfortable with it. Maybe search this topic for the word 'dilution'. Yeah I suppose you can read it into it what you want. Certainly The current legal case with Ashley and also the fraud trial don't help. I doubt Ashley will be investing or loaning to Rangers but nothing is ever certain in football. Call me naive but I think the King, Letham, Taylor and Park have the best interests of the club at heart. The fan share ownership is a slow burner but still growing. Eddard I do believe they have the best interests of the club at heart. Whether they all have the ability to do what they claim and are being transparent with the fans about this is another thing entirely. But we shall see. Quote Link to comment Share on other sites More sharing options...
thplinth Posted October 31, 2015 Share Posted October 31, 2015 I don't know about the others but I think you have a very naive view of Mr King. What do shareholders in DK's previous businesses think about him? Compare this to the reputation of MA. Has MA ever been charged with racketeering? The worst MA is accused of is putting profits first...oooohh what a . DK was branded a glib and shameless liar by a judge. i.e. someone in a position to judge him. So do you think it possible he is lying to you now, manipulating you to get what he wants in his own best interest? Who has the reputation as the pump and dump merchant? Who is playing games with the share listings and talking about removing preemptive rights for shareholders? Has transparency increased or decreased since King's coup? Quote Link to comment Share on other sites More sharing options...
EddardStark Posted October 31, 2015 Share Posted October 31, 2015 I don't know about the others but I think you have a very naive view of Mr King. What do shareholders in DK's previous businesses think about him? Compare this to the reputation of MA. Has MA ever been charged with racketeering? The worst MA is accused of is putting profits first...oooohh what a . DK was branded a glib and shameless liar by a judge. i.e. someone in a position to judge him. So do you think it possible he is lying to you now, manipulating you to get what he wants in his own best interest? Who has the reputation as the pump and dump merchant? Who is playing games with the share listings and talking about removing preemptive rights for shareholders? Has transparency increased or decreased since King's coup? Yes he could be lying. Time will tell. Quote Link to comment Share on other sites More sharing options...
thplinth Posted October 31, 2015 Share Posted October 31, 2015 (edited) If Green goes down there is a chance you could escape the contract with Ashley. But I would not be hugely hopeful as Ashley like all big time dealers has really excellent legal advice. The contract has proven so far unbreakable under different RFC boards so it suggests it is very robust. Even if Green goes down you will have a job getting out of it as Ashley will not have done anything stupid or illegal is my guess. Can't wait for the trail of the century to kick off. Going to be fascinating. I wonder if David Murray is feeling nervous or not. Edited October 31, 2015 by thplinth Quote Link to comment Share on other sites More sharing options...
johnnie x Posted October 31, 2015 Author Share Posted October 31, 2015 I wonder if David Murray is feeling nervous or not. Hopefully. Quote Link to comment Share on other sites More sharing options...
OLAS Posted October 31, 2015 Share Posted October 31, 2015 Bloody hell, another share issue? Quote Link to comment Share on other sites More sharing options...
Mark frae Crieff Posted October 31, 2015 Share Posted October 31, 2015 Bloody hell, another share issue? More shares than a Miss Piggy calendar at Eton... Quote Link to comment Share on other sites More sharing options...
bonzo Posted October 31, 2015 Share Posted October 31, 2015 More shares than a Miss Piggy calendar at Eton... ??? Quote Link to comment Share on other sites More sharing options...
er yir macaroon Posted October 31, 2015 Share Posted October 31, 2015 I think the present encumbents just wanted Green and Ashley out at all costs. They may not have the resources to properly turn around the club in the short term but I doubt they're in it for personal gain. Quote Link to comment Share on other sites More sharing options...
Squirrelhumper Posted November 2, 2015 Share Posted November 2, 2015 (edited) Tick tock Edited November 2, 2015 by Squirrelhumper Quote Link to comment Share on other sites More sharing options...
ShedTA Posted November 3, 2015 Share Posted November 3, 2015 The worry would be that ashley tends to get what he wants.... http://www.scotsman.com/sport/football/latest/rumour-mill-ashley-wants-king-jailed-bitton-contract-hibs-fan-spat-on-1-3935817#axzz3qQnIMPBZ Quote Link to comment Share on other sites More sharing options...
Debian Posted November 3, 2015 Share Posted November 3, 2015 The worry would be that ashley tends to get what he wants.... http://www.scotsman.com/sport/football/latest/rumour-mill-ashley-wants-king-jailed-bitton-contract-hibs-fan-spat-on-1-3935817#axzz3qQnIMPBZ Ah he can just pay off the judge again, no biggie. Quote Link to comment Share on other sites More sharing options...
macy37 Posted November 3, 2015 Share Posted November 3, 2015 Sons of Struth 4 hrs · WHY MIKE WANTS TO GAG OUR DIRECTORS. Sports Direct own the rights to our shirt sponsorship when the 32red deal expires and they paid nothing for it. If you care to look back on our timeline I have been talking about this since before the EGM in March. Dastardly Mike done a deal our club when he had his two place men on our board Remember Somers statement about "normalising" the marketing deal when he returned the £1 for the stadium naming rights deal? Mr Somers forgot to tell us the normalisation really meant giving Ashley the rights to our shirts sponsor. Magic Mike now has a decision to make. He can emblazon our shirt with Sports Direct or any other of his firms name or he could sell to the highest bidder and we would receive no money from our shirt sponsorship deal from next season I have tried unsuccessfully to uncover the length of the deal but I would imagine it would have been similar to the stadium naming rights deal which from memory would have three years to go. Our club now receives no money from shirt sponsorship, a pittance from merchandise and our board are gagged from explaining the full extent of his dastardly deals from fans and shareholders. This wretched excuse of a man even attempted to curtail our own fund raising efforts while we raised a four figure sum for the Former Rangers Players Benevolent Fund. I am confident to predict our soon to be released accounts will show very little difference from the 75p from each £10 spent on club merchandise that was revealed in last years accounts. Remember at the time the Ashley controlled board attempted to claim we were due a massive dividend and we would be better this season? I said it yesterday and I will say it again, the borderline legal acts of Llambias, Leach and Ashley are strangling our club. If anyone wants to google "companies act section 41" they will see why I'm happy to use such terminology. Our club has been used as a personal piggy bank for Whyte and Green in the past and is now being used as a corporate piggy bank by Sports Direct. Our fan base gave too much to the previous two before we woke up, let's not make the same mistake again. Are we incapable of going a year or two without a replica shirt? Does it make you less of a fan spending your blue pounds on something else that gets more money in to our club? Buy a brick it lasts longer. Buy a few programmes. Buy someone less fortunate a ticket for a game. It took us two years to get some fans round to accepting the last board were bad for our club, please let's not take the same length to get through to you on this one. I fully expect a legal and PR vendetta against me, I've got news for you Mike, I'm well used to it and it won't deter me in bringing the fans together against you. Ashley may have big pockets and thick skin but I will happily stand up against him because this is our club not a line on the accounts of Sports Direct. I really wish we didn't need to start another campaign, I really wish we could just switch off and enjoy the football. The reality is we need to and we have learned so much from previous years and campaigns that we are even better prepared than before. We the fans have the only thing he wants and it's in our pockets, give him it and nothing will change. Keep it from him and we have a chance. Every bear needs to see this, share it on social media, show your friends and family that aren't online, discuss it on the busses on the way to games and don't just leave it to others. Together we will make a difference but it will take everyone doing something and not leaving it to a few. Of course SOS will organise events and come up with ideas but it's not only us that need to do something. Join us, help spread the word and support us as we start this next chapter. Gone are the times of petty squabbles between fans, we are far better than that this time. Let's just do what needs done together. Remember we have beaten bullies before and we will again. How can I say this with confidence? It's simple we are Rangers fans. Here before them, here after them. Here forever. Quote Link to comment Share on other sites More sharing options...
glasgow jock Posted November 3, 2015 Share Posted November 3, 2015 Whats a blue pound Quote Link to comment Share on other sites More sharing options...
macy37 Posted November 3, 2015 Share Posted November 3, 2015 Whats a blue pound Sister of the pink yin? Pounds are what they need. Internet awash with Admin 2 stories this afternoon. Any truth in the rumours? We'll wait and see. Quote Link to comment Share on other sites More sharing options...
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