Raidernation Posted July 1, 2014 Share Posted July 1, 2014 Feck no. This just slightly dilutes the other shareholders % 714,000 out of almost 66,000,000 is what? 0.8 of a % at a guess..... Considering 1% would be 660,000 I think you'll mind you're arithmetic is incorrect -1 Quote Link to comment Share on other sites More sharing options...
Bing (2) Posted July 1, 2014 Share Posted July 1, 2014 Considering 1% would be 660,000 I think you'll mind you're arithmetic is incorrect Nah, my guess was 0 Quote Link to comment Share on other sites More sharing options...
The DA Posted July 2, 2014 Share Posted July 2, 2014 When Stockbridge exercises his share option (714,000 at 1p, £7K), does he actually just pay 1p per share or does he pay the current market price (£214K)? Or does he pay the share price at the time the option was originally agreed? I assume it's the former but there's so much smoke-and-mirrors that it's hard to tell. If it's the 30p, is this to ensure there's enough money in the bank to pay off the Letham loan? Will I have to pay for any financial advice provided in reply? 0 Quote Link to comment Share on other sites More sharing options...
aDONisSheep Posted July 2, 2014 Share Posted July 2, 2014 For the avoidance of doubt, here's a quick guide on what an 'option' is. Options are rights (but not an obligation) to buy shares at some point in the future. Options quantities and transaction prices are determined in advance (i.e. when the option is issued). Usually they take one of two forms. 1) to buy at a pre-determined rate/price or 2) to buy at a discounted rate/price (from market value). Each individuals option won't have been approved at an AGM, but the principle will have been agreed at formation or at an AGM. Yours aDONis 0 Quote Link to comment Share on other sites More sharing options...
The DA Posted July 2, 2014 Share Posted July 2, 2014 So, without knowing the details of his options deal, we can't be sure what price he is paying and, therefore, how much money is going into the company's bank account? 0 Quote Link to comment Share on other sites More sharing options...
Bing (2) Posted July 2, 2014 Share Posted July 2, 2014 So, without knowing the details of his options deal, we can't be sure what price he is paying and, therefore, how much money is going into the company's bank account? Should find out on the 7th when they are released. 0 Quote Link to comment Share on other sites More sharing options...
Funky Nosejob Posted July 2, 2014 Share Posted July 2, 2014 (edited) From BBC Gossip Column... Former Rangers director Brian Stockbridge earned £200,000 from taking up his remaining share option yesterday and now owns 1.1% of the Ibrox club. (Daily Mail) So if there have been 714,285 new shares issued to meet his options, that would be a profit of exactly 28p per share. The bid (selling) price this week has been 29p per share, suggesting that he paid 1p per share. ETA This assumes he immediately sold the shares. If the mail's increased holding is to be believed, he must have held them suggesting that his "earnings" are money saved on purchase, indicating 28p below the offer price of 32p Edited July 2, 2014 by Funky Nosejob 0 Quote Link to comment Share on other sites More sharing options...
shiltrum Posted July 2, 2014 Share Posted July 2, 2014 The shares are the sweetener. He'll be getting them at a discount. It's normal for options to be offered approx 20% below the market value. 0 Quote Link to comment Share on other sites More sharing options...
Bing (2) Posted July 2, 2014 Share Posted July 2, 2014 From BBC Gossip Column... So if there have been 714,285 new shares issued to meet his options, that would be a profit of exactly 28p per share. The bid (selling) price this week has been 29p per share, suggesting that he paid 1p per share. ETA This assumes he immediately sold the shares. If the mail's increased holding is to be believed, he must have held them suggesting that his "earnings" are money saved on purchase, indicating 28p below the offer price of 32p As the shares have not yet been issued, how can he have made £200,000 ? Shares will become effective and that dealings will commence at 8.00 a.m. on 7 July 2014. Anyone trying to shift that amount would be lucky to get 20p per share ffs, and nobody can say what price was paid as we do not no what was in his contract. 0 Quote Link to comment Share on other sites More sharing options...
The DA Posted July 3, 2014 Share Posted July 3, 2014 It's only a rumour at the moment (from you-know-who) but if the auditors really are saying that ST cash is off-limits until Rangers come up with a workable business plan, what will this mean for them between now and the first match of the season? Will they pay the bills in July? I know there are a dozen obvious questions ("Can Deloittes really insist, even via Rangers' NOMAD?", "If they won't sign off on the accounts if Rangers ignore them, so what?" etc.) but let's go with the mental experiment. Could this also explain why the loans haven't been repaid? 0 Quote Link to comment Share on other sites More sharing options...
sjc Posted July 3, 2014 Share Posted July 3, 2014 Perhaps they're printing their own money now....... 0 Quote Link to comment Share on other sites More sharing options...
~~~ Posted July 3, 2014 Share Posted July 3, 2014 Since things have slowed down a bit recently. Enjoy a copy of Charlie Green Sevco contract http://www.scribd.com/mobile/doc/232359336 0 Quote Link to comment Share on other sites More sharing options...
dave.j Posted July 3, 2014 Share Posted July 3, 2014 Since things have slowed down a bit recently. Enjoy a copy of Charlie Green Sevco contract http://www.scribd.com/mobile/doc/232359336 Can't view it on iPhone, I'm afraid. 0 Quote Link to comment Share on other sites More sharing options...
~~~ Posted July 3, 2014 Share Posted July 3, 2014 Can't view it on iPhone, I'm afraid. Works fine on mine... 0 Quote Link to comment Share on other sites More sharing options...
strichener Posted July 3, 2014 Share Posted July 3, 2014 The 714,285 shares that he has exercised his option over is the equivalent to the 2.5 times his 200k salary at the float price of 70p. The price to be paid for these are not disclosed nor are the details provided in the annual accounts (Oops auditors!!!) for the holding of this option. 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted July 3, 2014 Share Posted July 3, 2014 (edited) Regards Stockbridge's shares, I read elsewhere that they were contractually obliged to him and based on the "% of his salary bonus". The bonus was £500k, and the share price it was based on was the 70p Rights Issue price. He received them for nada, though technically he will have paid the 1p nominal value per share. Edited July 3, 2014 by Ross. 0 Quote Link to comment Share on other sites More sharing options...
strichener Posted July 3, 2014 Share Posted July 3, 2014 Regards Stockbridge's shares, I read elsewhere that they were contractually obliged to him and based on the "% of his salary bonus". The bonus was £500k, and the share price it was based on was the 70p Rights Issue price. He received them for nada, though technically he will have paid the 1p nominal value per share. Not correct. It was based on 2.5x salary. His bonus was 100% of salary (£200k) 0 Quote Link to comment Share on other sites More sharing options...
Dunlop Don Posted July 3, 2014 Share Posted July 3, 2014 BREAKING NEWS: I was just stopped for directions (kind of, he couldn't find his way out of the carpark) in a car park in Glasgow by one time BRALT celebrity Campbell Ogilvie. Unfortunately I couldn't come up with a witty and abusive response quickly enough so just politely directed him on his way. 0 Quote Link to comment Share on other sites More sharing options...
Bing (2) Posted July 3, 2014 Share Posted July 3, 2014 I thought Stockbridge gave up his bonus? This was also noted from the IPO 'Mr Stockbridge is also entitled to a non-contractual bonus of 100 per cent. gross salary if the Club wins promotion from the SFL' When did we get promoted from the SFL? It went on though....... ''to a higher division or different League'' or such iirc............... 0 Quote Link to comment Share on other sites More sharing options...
~~~ Posted July 3, 2014 Share Posted July 3, 2014 Boom 1972 scheme has been ended. Is that the end of King? http://m.bbc.co.uk/sport/scotland/28153711?utm_source=twitterfeed&utm_medium=twitter 0 Quote Link to comment Share on other sites More sharing options...
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