On our way back Posted February 23, 2014 Share Posted February 23, 2014 we all heard the recordings.. Craig whyte is sevcoCorrect. And we are Rangers, the People! -2 Quote Link to comment Share on other sites More sharing options...
On our way back Posted February 23, 2014 Share Posted February 23, 2014 Just a reminder, rangers are no longer. That statement was like so 2012ok I'll bite. We are, of course, the Rangers International Football Club Ltd. however, if you were one of us, you'd understand that we are Rangers then, Rangers now and Rangers forever. What's in a name, eh. 0 Quote Link to comment Share on other sites More sharing options...
shull Posted February 24, 2014 Share Posted February 24, 2014 ok I'll bite. We are, of course, the Rangers International Football Club Ltd. however, if you were one of us, you'd understand that we are Rangers then, Rangers now and Rangers forever. What's in a name, eh. Your team is The Newcunto F.C. and they are about to die soon. 0 Quote Link to comment Share on other sites More sharing options...
scottxs Posted February 24, 2014 Share Posted February 24, 2014 watching bbc news this morning and they have a segment about the problems with people using loan sharks for money. a bit late for the rangers. 0 Quote Link to comment Share on other sites More sharing options...
phasma ex machina Posted February 24, 2014 Share Posted February 24, 2014 Credit facillty not a loan then Credit Facility of £1.5 million The Board of Rangers is pleased to announce that it has entered into two secured short term credit facilities for an aggregate of up to £1.5m. The credit facilities are being provided by Alexander Easdale, a shareholder in the Company and director of The Rangers Football Club Limited, the wholly owned subsidiary of RIFC, and Laxey Partners Ltd ("Laxey"), a substantial shareholder in the Company. These credit facilities will be used by the Company for general working capital purposes over the next few months. Alexander Easdale will make available to the Company up to £500,000 on a fee and interest free basis (the "Easdale Facility"). Laxey will make available to the Company up to £1 million, with a premium payment equal to 15% of the nominal amount of the facility (the "Laxey Facility"). The Easdale Facility and the Laxey Facility (together the "Facilities") are both secured against the Company's Edmiston House and Albion car park properties. The principal amounts of the Facilities are repayable no later than 1 September 2014 from a variety of potential sources. The premium on the Laxey Facility is payable in cash or, at Laxey's discretion, in ordinary shares of 1p each, at any point between the date of the facility agreement and the first anniversary of the date of the facility agreement. The number of ordinary shares of 1p each which may be issued will be calculated using the lower of either 26.5 pence, being the mid-market closing price of the Company's shares on 21 February 2014, or the lowest price at which any equity fundraising is carried out prior to the first anniversary of the date of the Laxey Facility agreement. The issue of any ordinary shares of 1p each in payment of the premium is subject to the Company obtaining authority from its shareholders at a general meeting of the Company. Under the AIM Rules for Companies, the Laxey Facility is a related party transaction under Rule 13 of the AIM Rules. The Directors of Rangers, having taken advice from their nominated adviser, Daniel Stewart & Company plc, believe that the terms of the Laxey Facility are fair and reasonable as far as shareholders are concerned. 0 Quote Link to comment Share on other sites More sharing options...
phasma ex machina Posted February 24, 2014 Share Posted February 24, 2014 And when the default happens............... The Easdale Facility and the Laxey Facility (together the "Facilities") are both secured against the Company's Edmiston House and Albion car park properties. The rage will be strong on the swamp, and I have to go to work 0 Quote Link to comment Share on other sites More sharing options...
Fife Saint Posted February 24, 2014 Share Posted February 24, 2014 The repayment terms 'from a variety of potential sources' should read 'hopefully we can dupe the punters and have some cash'. 0 Quote Link to comment Share on other sites More sharing options...
G-MAN Posted February 24, 2014 Share Posted February 24, 2014 OMG Their PR department really dont have a clue. "The Facilities" They really are being flushed down the bogs, taking the p155 etc etc 0 Quote Link to comment Share on other sites More sharing options...
Bloomogganners Posted February 24, 2014 Share Posted February 24, 2014 (edited) Fails to understand the reality of the deep 'doo doo' that the club is neck deep in. Share their boards joy, they are "pleased to announce" it:) First £40 to £50 of next years season ticket money increase gone already. Edited February 24, 2014 by Bloomogganners 0 Quote Link to comment Share on other sites More sharing options...
Bookies Love Me Posted February 24, 2014 Share Posted February 24, 2014 Full-year results due Wednesday Feb 26th: Greggs Quote:"Greggs reversed a trend of falling sales to grow in December and investors will be looking for further evidence of this in the full-year results" ally must have paid his for his Christmas dinner in December. Hope he can find the money out of "reduced wages" to meet his year-end bill. 0 Quote Link to comment Share on other sites More sharing options...
~~~ Posted February 24, 2014 Share Posted February 24, 2014 that'll be the precious car park gone 0 Quote Link to comment Share on other sites More sharing options...
MikeyWellFan Posted February 24, 2014 Share Posted February 24, 2014 (edited) So basically they don't actually have enough money to get them to the end of the season ? This is essentially the equivialent of a Wonga loan ? Even though they raised 22 million pounds last year ? In all seriousness that is fucking crazy. How could any berr be happy with that ? Edited February 24, 2014 by MikeyWellFan 0 Quote Link to comment Share on other sites More sharing options...
Bookies Love Me Posted February 24, 2014 Share Posted February 24, 2014 that'll be the precious car park gone A new bus depot on the offing??? 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted February 24, 2014 Share Posted February 24, 2014 A new bus depot on the offing??? The Kraydale Brothers and Graham Wallace are pleased to announce yet another fleecing of Sevco. 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted February 24, 2014 Share Posted February 24, 2014 (edited) There's not a great deal of detail of the Easdale deal, but the Laxey deal seems very one-sided. 15% on a secured loan with an option (at their discretion) of a payback in shares. I thought it was only sheep that got fleeced, not bears! Edited February 24, 2014 by Granny Danger 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted February 24, 2014 Share Posted February 24, 2014 There's not a great deal of detail of the Easdale deal, but the Laxey deal seems very one-sided. 15% on a secured loan with an option (at their discretion) of a payback in shares. I thought it was only sheep that got fleeced, not bears! Their fans are certainly behaving like sheep. 0 Quote Link to comment Share on other sites More sharing options...
Double Jack D Posted February 24, 2014 Share Posted February 24, 2014 Neither have the bearz .. they can't even read the club's statement properly. Many are convinced Sandy the Shark is not charging a fee ... Apparently after reading this .. most concluded it means no fee and interest free. Tedi has been giving them lessons in comprehension again, so it would seem. No wonder they continually get ripped off .... http://www.bbc.co.uk/sport/0/football/26321268 Seems the BBC are struggling to decipher the message too 0 Quote Link to comment Share on other sites More sharing options...
Double Jack D Posted February 24, 2014 Share Posted February 24, 2014 Mibbes the club statement has a misprint. Maybe. Or maybe very cleverly written! 0 Quote Link to comment Share on other sites More sharing options...
cyderspaceman Posted February 24, 2014 Share Posted February 24, 2014 ok I'll bite. We are, of course, the Rangers International Football Club Ltd. however, if you were one of us, you'd understand that we are Rangers then, Rangers now and Rangers forever. What's in a name, eh. Wrong. 0 Quote Link to comment Share on other sites More sharing options...
williemillersmoustache Posted February 24, 2014 Share Posted February 24, 2014 Sale and leaseback by the back door? Seems like a complicated web of mis direction. Sure there are some egg heads out there who will explain this better but: This a loan to this company, to provide working capital, from individual investors who already have a sizeable chunk of shares in this company, secured against assets owned by the company they have these shares in, or against future shares in this very same club/ company that they already have these shares in. Simples 0 Quote Link to comment Share on other sites More sharing options...
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