thelegendthatis
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Posts posted by thelegendthatis
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How it should be done http://www.edinburghnews.scotsman.com/sport/football/hibs/hibs-hope-to-be-debt-free-in-ten-years-1-3669736
How it could have been done for Rangers FC.
How it might be done for The Rangers in the future thanks to Mike Ashley having security over Ibrox.
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Thanks
Understand now.
Non compliance and non agreement mean I am an enemy to be attacked.
Up to speed now.
Here was me thinking I a free thinker with no ties to anyone that can be referred to as 'them'
Wow! An Irvine Meadow fan with no affiliations? A real straight honest Joe!
Is that the same Irvine Meadow that turned up at Easter Road in the Scottish Cup as the Rangers mini me? The strip the same, the socks, the songs. They made their £50k or whatever but they were a graceless bunch still reviled by many Hibs fans.
And of course Irvine Meadow have many other similarities to the mighty Gers. Years of over spending, dodgy deals, money drying up. The usual Mr Big. Didn't quite go out of business but very very close.
And Meadow famous for spitting from their stand onto opposition supporters below them. Shades of Rangers v Hearts recently. And of course the day one of the Meadow fans chucked a bucket of shit over supporters from Kilbirnie shouldn't go unmentioned.
You just have so much in common with Rangers. So much I just can't tell the difference.
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The SFA & SPFL.
Given all the conjecture in the build up to the EGM we have Dave King stirring up the masses, while the keyboard warriors are of a view that the authorities will stand by and let a convicted tax cheat and a proven incompetent director of the failed Rangers take over the club.
Through all this we have the more serious press showing surprise and disgust at what might happen. Tom English and Alex Thomson to name two. Even the Daily Record laughs at Rangers/SFA and Scottish football governance.
Rather than wait until they are forced into a corner why does the SFA not make a statement of policy to explain to the wider public what would be the basis of any decision they have to make? All they have to do it point people at the relevant parts of their articles. In particular the fit and proper test.
This would of course would need to include their run in with Mike Ashley which they instigated. Just explain what the issue is, what they want to see happen and why. Otherwise some see it as keeping someone who is too powerful for them coming in to upset their nice comfortable arrogance.
By explaining all this now, which would merely be the basis of their decisions it would minimise the flack when they do make a decision. And they will have to make decisions that will get some people annoyed.
So come on guys. Just explain now and make live easier for yourself.
Otherwise those of us who like conspiracy theories will assume that Campbell Ogilvie will be up to his neck in ensuring Rangers men get control.
Worst case scenario is where King gets SFA approval but knocked back by the Stock Market.
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Keeping up ......(don't think this was posted up here yesterday. If it was, sorry, but here it is again). It is wonderful game to try to guess how each of these will vote at the EGM.
This just lists those holding more than 3%.
Share InformationTHE Company has in August and September 2013 sent requests under section 793 of the Companies Act 2006 to funds and nominee shareholders of the Company, including Blue Pitch Holdings and Margarita Holdings asking for details of their shareholdings in the Company. These funds and nominees, including Blue Pitch Holdings and Margarita Holdings, have properly responded to these requests.
Grounds for action to be taken against certain shareholders for non compliance with a section 793 request have not been established and there is no basis for the Company to seek to impose restrictions on the shares held by these shareholders, contrary to recent Press Speculation.
Accordingly the Company confirms that it respects the rights of all of its shareholders and will not seek to restrict or remove any shareholder rights unless there are legal grounds to do so for a proper purpose.
The Company notes recent case law (Eclairs Group Limited and Others -v- JKX Oil and Gas plc and Others [2013] EWHC 2631 (Ch)) which provides that shareholder voting rights can not be removed for the purpose of barring a shareholder from voting at a general meeting or annual general meeting.
Rangers has an issued share capital of 81,478,201 ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares").
Major Shareholding (3% or above):
The Company understands that its major shareholders are as follows:
Shareholder No of Ordinary Shares held % of issued share capital
New Oasis Asset Limited 11,869,505 14.57%
Artemis Investment Management LLP 8,109,223 9.95%
George Alexander Taylor 7,575,000 9.30%
Mash Holdings Limited 7,265,000 8.92%
Alexander Easdale* 5,256,110 6.45%
Douglas Park 5,000,000 6.14%
River and Mercantile Asset Management LLP 4,704,827 5.77%
Blue Pitch Holding 4,426,485 5.43%
Miton Group 4,060,282 4.98%
George Letham 3,299,515 4.05%
Margarita Funds Holding Trust* 2,600,000 3.19%
* In addition to the 5,256,110 Ordinary Shares held directly by him, Alexander Easdale has voting rights over 16,028,084 Ordinary Shares (representing 19.672% of the issued share capital of the Company) pursuant to the terms of proxy agreements entered into with other shareholders, including Blue Pitch and Margarita, which remain in place until further notice.
As a result, including the Ordinary Shares held directly by Mr Easdale, being 5,256,110 Ordinary Shares representing 6.451% of the issued share capital of the Company, Mr Easdale has voting rights over, in aggregate, 21,284,194 Ordinary Shares representing 26.123% of the issued share capital of the Company.
While Blue Pitch and Margarita hold directly 4,426,485 Ordinary Shares and 2,600,000 Ordinary Shares respectively, they have disposed of the voting rights over such Ordinary Shares to Alexander Easdale pursuant to the terms of the proxy agreements.
Currently, 30.72%+of the Company’s Ordinary Shares are not in public hands.
The Ordinary Shares are freely transferable and no Ordinary Shares are held in treasury.
+ Does not include the 16,028,084 Ordinary Shares (representing 19.672% of the issued share capital of the Company) which Alexander Easdale has voting rights over pursuant to the terms of proxy agreements entered into with other shareholders.
Director shareholdings are as follows:
Shareholder No of Ordinary Shares held % of issued share capital David Somers 61,186 0.08% James Easdale 572,749 0.70%
Page last updated on: 22/01/2015
26% is a good number..
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Newcastle 19th in World Football World Rankings. Maybe doesn't prove Ashley is a nice guy, but he ain't doing half bad for Newcastle.
Wonder where a Dave King led Rangers would sit in this list?
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A theory on why Ashley may be putting up with the hassle ...
Let's hope is right.
Makes some sense. Not a lot, but some. Seems not far away from what drinks companies do. They lend money to sports clubs and then get paid back through a %age of the drinks sold. The more they sell, the more they call off as loans. Rugby clubs do well out of it but football clubs invariably end up in trouble as there is some smart as* on the fiddle. A number of (football) clubs in Scotland have encountered real problems because of this.
Ashley having two of his guys on the board is maybe to do with getting to see from the inside how systems can be setup that protect against the scams and possible straight theft. After all where better to start than a club with such proven skills at laundering money into their own pockets.
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Time, I think, for a wee look through the looking glass into the potential paths ahead for The Rangers.
The King Prophecy;
Screeds of copy exist about Dave Kings' history in regards to both his personal business acumen in South Africa, (with the ensuing court case and CONVICTION resulting in an effective plea bargain agreement to pay a huge fine and no imprisonment as opposed to a colossal fine and/or lengthy jail term) and his involvement on the Board of RFC Ltd.
To believe Kings' latest (one of many) asessment of his own RFC Board tenure, as one of failing to both know about and be in a position to control Craig Whytes' secrecy in all things concerned with the Clubs' demise, is asking a lot. In fact, it's pretty much a(nother) lie in all probability.
Of course once you become a company director in the UK, there is an obligation on you to make sure you know what is going on. It is not enough to depend on papers prepared for board meetings etc. So for King to moan about Whyte not telling him about what was happening is just his usual distracting bluster. He is old enough and wise enough to know he should have acted. Probably formally writing to Whyte asking for the detail. If not produced he should have been going to the authorities, and resigned.
So 'a wee boy did it and ran away' cuts no ice and is no defence. The fact he did nothing speaks volumes.
Just as it didn't as John Grieg, John McClelland, Martin Bain, Paul Murray didn't have the backbone to challenge David Murray. How much dodgy stuff people like that will ignore as long as they get the blazer and a nice cheque at the end of each month is something the Rangers fans should find out.
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Can it really be that a convicted tax fraudster is seriously bidding to take over Rangers after everything Ibrox has been dragged thru?
Only difference is King was a convicted tax fraudster BEFORE he bid to take over Rangers.
Watch this space......
Murray, Whyte & Green. 0 -
Oh dear. I fear this chap will be unsuccessful in saving Sevco.
Look what Jesus did with 5 loaves and 2 fishes. Think what he could do with 7 Sevconians.
We can get the Sevconians easily. But where do we find Jesus? And most important of all, is he "one of us".
If he did happen to turn up
, I can imagine the chant of the great unwashed along the lines of "F*** off Jesus you Muslim *******" 0 -
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WE WERE
ARETHE PEOPLE0 -
This one got 10 signatures. Same as the other 2 put together.
https://www.change.org/p/the-mighty-glasgow-rangers-since-1872-watp-keep-ally-in-the-big-house
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Still time to sign this petition
https://www.change.org/p/craig-whyte-leave-rangers-football-club
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The board trying to block King
http://www.clyde1.com/sport/news/rangers-try-to-block-king-move/#.VLy8ZRVDWq4.twitter
Talk about King campaigning to get 51% of the votes is a bit premature. What the article doesn't say is he will first of all need to be able to show he is fit and proper. Not to the SFA, but to the stock market. Rangers will push this hard now King has put his head above the parapet. Could be a clean kill.
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19 January 2015
Rangers International Football Club plc
Update regarding financing initiatives
The Board notes press speculation and shareholder concern in relation to an Advanced Notice for a charge over Ibrox stadium ("Advance Notice"). The Company continues to need funding, including urgent short term financing. Over the past few weeks the Company has held discussions with a number of parties with a view to finding a stable financial future for the business. The discussions which have been wide ranging including, both stakeholders and third parties, are with a view to achieving the best possible terms for the business. Without the authority to issue equity on a non pre-emptive basis, the directors cannot issue shares in the timeframe required.
At the current time the assets (other than Ibrox), cash flow and business of Rangers does not support a significant financing, on an open market commercial basis, to achieve the goals which the directors have set for the Club. Accordingly the directors are pursuing bi-lateral discussions with two parties who are both stakeholders in Rangers. These discussions contemplate a significant amount of capital being available to the business on a long term basis in order to enhance the squad which the directors believe is necessary. A consequence of funding to this level is that, in reality, it may be necessary to use Ibrox stadium as security; such a decision would not be taken lightly.
No decision has been taken at the current time while discussions are being finalised in good faith. The Advance Notice does not mean that security will be given, and the directors are adamant that it will not unfairly advantage the party with whom it was agreed. The Board will conclude a transaction, based on its merits, which it believes is in the best interests of shareholders as a whole in accordance with their fiduciary duty. (In other words we will be able to justify our decision to go with big Mike!)
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Market announcement from Rangers this morning. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12218558.html
"The Company is currently verifying that the Notice is properly constituted. If valid, the Board intends to seek to have such Notice withdrawn in order to avoid the cost and disruption of an ad hoc general meeting. The AIM Rules require that all individuals appointed to the board of an AIM company are suitable to be a director of a UK public company."
Rangers clearly aiming to have request for EGM withdrawn based on one (at least) of the 3 directors proposed not being suitable to be a director of a UK company.
Callng King's bluff on his latest publicity stunt.
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Armageddon, or how can Rangers get wiped out as a football club?
Despite the angst from the Rangers faithful, it looks at though Mike Ashley will stop them going into administration or liquidation (or being liquidised as a Rangers fan once described it on here).
He can do this with his secured loans, but if the shareholding remains the same the company will always be vulnerable to rabble rousing from some penniless crook. So he could move to increase his shareholding, directly or indirectly. If he does, he will fall foul of the SFA/SPFL and Campbell Ogilvie. So they will say if you push above 10% we will........well what will they do?
Another option is that somehow King & co get their EGM and win the vote. That will be after the assets have been put under Ashley's direct control, and his loans (10mill or so) still outstanding. King and poor Paul Murray will be looking for seats on the board. But what will the SFA say? After giving the green light (just a figure of speech) to Whyte and then Green and his sundry cowboys, surely the authorities cannot endorse a shifty liar and an ex director who sat through the administration.
What can the SFA/SPFL threaten in each case, but what can they really do? If they push too hard on either they can end up disqualifying the entity that is the company, with what effect on the club? They spend their time fighting with the company, meaning the football side folds.
This could be an excellent case study for a Business School. Alternatively a board game that would keep the players entertained for ever. .
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Aye I read it and didn't link it ... considered me rebuked ... I'll pick my game up.
Edit: Most of that info could have been lifted from here though .... since when did we need SMSM to back us up?
Maybe we don't need the MSM, but every little helps get a realistic version out there.
Otherwise we may have to depend on the Bears Den to gain insightful interpretations of what is happening.
Heard Tom English on BBC radio on Sat pm, and his biggest concern was that Mike Ashley has him (and the rest of the paid journos) on ignore. Keep it up big man.
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It appears the Rangers saga is boring even the P&B keyboard warriers into submission.
Here we are at 11.30am on a Sunday and there isn't a link up to article in Scotland on Sunday yet http://www.scotsman.com/sport/football/spfl-lower-divisions/rangers-dave-king-s-move-faces-taxing-questions-1-3664643
Some bias shown but he does tackle the Dave King and Paul Murray issues. Issues of integrity, honesty and competence.
It is a shame we no longer have a vigorous and significant Rangers presence on this forum any longer. Even Tedi has hunkered down after the shameful scenes at Ibrox on Friday night.
Rangers need the voices of sensible supporters to be heard and it might be best to start here, long before they ever get close to the boardroom at Ibrox and then become tongue tied. (Just listen to some of the intellectually challenged making their case on Friday on behalf of the Rangers support on Sky. Worrying
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looking at the above post from thelegendthatis is it too simple to say that the "unnacounted for " shares could well hold the balance of power? equally it may be that blue pitch , margerita etc. may jump the dyke and transfer their sympathies/votes? I am sure none of us can really guess Ashleys next move ,but for sure he will think long and hard. I dont really care much either way, but I feel there are lots more twists and turns to come.
Sorry, but I didn't guess at all who the 'unaccounted for' are nor how they will vote. I just gave the list so everyone can do their own sums.
The ones that are 'institutional' investors such as Legal & General (why on earth did they ever get involved?), Cazenove, Artemis for example will (legally) have to advise whoever they are acting for which side will give them the best return on their investment in Rangers shares,
But although 51% of the votes is desirable at the EGM, unless they can reach 75% a minority shareholder will be able to stall and potentially block the decision. Llambias and Ashley will know exactly how best to do this and make their case. A totally dodgy geezer like King being involved would be a strong argument on both a legal (company law) basis but also the challenge of convincing the SFA he is fit and proper now compared with being a 'glib and shameless liar' as described a few years back.
Such a move would put Rangers into business lockdown mode while this was resolved through the courts. Would it put them under? Don't know, but for sure it would make things very difficult.
So agree totally, lots more twists and turns to come.
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Dave King 11,869,505 14.57%
George Taylor 7,575,000 9.30%
Mike Ashley 7,265,000 8.92%
Douglas Park 5,000,000 6.14%
River and Mercantile 4,704,827 5.77%
Artemis Investment 4,286,000 5.26%
Sandy Easdale 4,242,110 5.21%
Blue Pitch Holdings 4,000,000 4.91%
George Letham 3,299,515 4.05%
Margarita Funds 2,600,000 3.19%
Cazenove Capital 2,450,000 3.01%
FMR LLC 2,000,000 2.45%
Legal and General 2,000,000 2.45%
Kieran Prior 1,100,740 1.35%
Ally McCoist 1,071,429 1.31%
Rangers Supporters Trust 826,029 1.01%
Felix Magath 810,000 0.99%
Rangers First 710,000 0.87%
James Easdale 572,749 0.70%
Malcolm Murray 271,429 0.33%
Vanguard Bears + proxies 132,694 0.16%
Ryan King 123,000 0.15%
Norman Crighton 96,222 0.12%
Walter Smith 71,429 0.09%
Discretionary clients of Hargreave Hale 69,450 0.09%
David Somers 61,186 0.08%
Unaccounted for 14,269,887 17.51%
Above data from STV website, January 16th 2015.
Which group has the best chance of improving the share price? The Ashley/Easdale group or the King/3Bears group?
Being capable of upping the share price will be the basis of the professional investors' votes. If it ever gets to that stage.
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If he hasn't got that 50% of backing this could be very embarrassing for him.
It is going to be humiliating for him either way. Say he wins the vote and gets Ashley and his boys out.
First Ashley would offer his shares for sale. Who will pay the money to buy them?.
Ashley will be sure he has a clause saying his debts (£10mill or whatever) will be due for payment immediately if he is forced out. Who will pay that?
Llambias and Leach will be on contracts, which will have to be paid up and some settlement agreed. Who will pay that?
Not to mention the various other obligations flying around, not least Ally and Durrant.
The good news for Rangers is that Dave King will fail and Ashley will remain in overall control.
The bad news is that evil King will keep posturing and bleating, with the Rangers supporters believing him and getting wound up by him. Just like he achieved last night.
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Duff and Phelps. Now there's an unfortunate coincidence. And one dead organisation's assets bought by those who let it die for a knockdown price, then after running up debt in newco let it go to the wall too ,only for them to buy assets for another knockdown price. Deja vu.1st September 2015Today Rangers announced that it had been bought as a going concern by Republic.com Retail Limited.In taking this action, the stadium and training ground and staff working within them have been retained and are continuing to trade.Duffy said: “Rangers Limited underwent a very successful financial restructuring process and sale; this leaves the business in a stronger position to carry on trading. We are pleased that following the process the company continues to trade. We are hoping to get a tenant for Ibrox Stadium signed up on a long term lease within the next few weeks. We are just carrying out the final stages of our due diligence on the potential tenant”0
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I think he is about the only person involved who actually doesn't care how angry the fans are! He's not bothered as long as the cash rolls in and I doubt the fans can say or do anything to put him off, apart from actually withholding all their money.
That is why the Rangers Loyal hate him so much. He doesn't invite them in for a wee chat and a cup of tea, allowing them to call him Mr Ashley and generally kiss his ass. Nor does he bother feeding Jim Traynor, Chic Young and similar incompetents with grandiose stories of possible signings and great things ahead, failing which it will be a 'who do we hate this week' article written for the loyal scribes.
If everything goes badly wrong Ashley would have no problem in just shutting the whole thing down. OK he will have to suffer the anger of the loyal, but when you are running a company like http://www.sportsdirectplc.com/investor-relations/interactive-kpi-chart.aspx successfully,it would just be another business decision, and a small one at that. No more than an irritating pimple on his bum.
We have lived through ownership by 'fans with money', the 'of course I am a fan' with so much money you can't count it, to the 'I have always respected Rangers' with no money, to a guy who has the money and will support Rangers only if it successful as a business. I know which one i would prefer to see running the club to achieve a genuinely successful Rangers.
And the one it would not be would be Dave (“glib and shameless liar”) King. And the first step would be to wash out the legends who believe the club is there for their personal benefit.
We can talk all day long, but Ashley has everything covered. The wagons are circled. Guns loaded and people to fire them. So shout all you want, throw your stones, but be careful what you supporters wish for.
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, I can imagine the chant of the great unwashed along the lines of "F*** off Jesus you Muslim *******" 
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Big Rangers Administration/Liquidation Thread - All chat here!
in Celtic v Rangers, Rangers v Celtic
Posted
You do segregation at junior games? Very unusual. I wonder why?
But have been there, seen it, got the t shirt!