Sergeant Wilson Posted September 12, 2014 Share Posted September 12, 2014 This covers them to November at best ... what then? They've asked for money for their Christmas this year. 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted September 12, 2014 Share Posted September 12, 2014 Merciless / KDS 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted September 12, 2014 Share Posted September 12, 2014 It was the spivs alone that have pumped in the majority .. no institutional investor has touched it with a barge pole. Poor Tedi ... he thinks I'm gutted because the spivs have a stranglehold ... what does he imagine will happen next ? Do enlighten us Tedi .. HB please quote so the fud has no excuse to avoid giving us the benefit of his wisdom. The spivs have underwritten around 80K by my calculations and just for tedi, 400,000 shares at 20p each comes to around 80K. So the question is did the fans part with just under £3 million or has there been some institutional investors buying of shares ? It is quite possible the fans did pony up just under £3 million but I think personally it's highly doubtful. I personally think the first move from the spivs was to get the fans to cough up first and if failing that then the institutional investors to help underwrite and the BoD then ponies up the rest to make meet the required amount. The spivs are protecting their interests in the club and obviously they intended the fans to cough up the £4 million from them first, so my main question is how much did the fans cough up ? Last thought here is did the fans associations buy up a fair wedge of shares to try and gain more control of the club in their quest to oust the BoD at some point ?, 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted September 12, 2014 Share Posted September 12, 2014 (edited) Right then, what does this mean? Obviously, the £3m threshold has been reached narrowly, but the fact that directors helped get it there, is being seen by some as significant. I'm utterly clueless about this stuff, among much else, so can someone who isn't, explain what it really means please, looking ahead. (This was purloined from 'elsewhere.') Soooo..... The share issue raised £2.63 million at first. This is approx. 65% of total. If we assume no over subscription, then 2/3 of shareholders weighed in. Then the Easedales kicked in their £500k. If we assume that the repayment of their loan was to happen as part of the funding, a full subscription would have left Sevco with approx. £2.3 million extra cash to see them through to agm. As it is, assuming Letham gets his million, they have around £1.4 million extra cash (Letham' due a bigger vig for waiting). Again, assuming Oor Imran got £300k, Sevco can probably meet Sept and Oct payroll but there is no wriggle room at all.... So if Wallace is actually 'on gardening leave' and is due up to £800k in settlement.... We may see another thrilling instalment of 'Ringfence Alley' on our screens soon..... Dum Dum Dum! In all seriousness, who took the shares is gonna be the biggest hint to how this is gonna end..... Let's see what happens if a certain cabal ends up controlling over 75%....it's a pretty magic number in admin terms. And given Sevco has only one creditor, RIFC Ltd., who would control a CVA again? Edited September 12, 2014 by Florentine_Pogen 0 Quote Link to comment Share on other sites More sharing options...
The DA Posted September 12, 2014 Share Posted September 12, 2014 Should Winnie the Pooh be banned? Please, no. I couldn't bear it. 0 Quote Link to comment Share on other sites More sharing options...
Johnstoun Posted September 12, 2014 Share Posted September 12, 2014 I presume these were shares in RIFC and TRFC will be loaned (some of) the proceeds? They owe RIFC more than RFC owed the bank pre-Whyte... 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted September 12, 2014 Share Posted September 12, 2014 I presume these were shares in RIFC and TRFC will be loaned (some of) the proceeds? They owe RIFC more than RFC owed the bank pre-Whyte... The fans bought shares in the initial IPO that were exchange for shares in the club "RFC Ltd", that's part of the major con there as the fans don't have shares in the holding company. Although fans have a say in the club they don't have a say in the holding companies shenanigans who own the club. The spivs on the other hand if I have this correctly have shares in both the PLC & the club ???, but the fans only have shares in the club. Isn't it ironic the fans probably bought shares to service the club but then the club will owe the holding PLC the money they helped raise which the spivs own ??? So essentially the fans have chucked money at the spivs to help the club but this money from the fans will have to be paid back to the spivs at some point placing the club into more debt even though the fans ploughed cash into the club. Fucking mental I know ffs So once again the club has been placed into more debt through the holding companies share issue although the spivs said it was for the club but the money has to come through the holding PLC as a loan to the club and the fans get stiffed by purchasing more shares into the club and not the PLC holding company. 0 Quote Link to comment Share on other sites More sharing options...
cyderspaceman Posted September 12, 2014 Share Posted September 12, 2014 Please, no. I couldn't bear it. Hunny! 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted September 12, 2014 Share Posted September 12, 2014 that sounds complicated but understandable ETA: thank fook we had Fergus McCann All hail the bunnet. 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted September 12, 2014 Share Posted September 12, 2014 No idea what all this means tbh. Bad news for the bears though no doubt. 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted September 12, 2014 Share Posted September 12, 2014 No idea what all this means tbh. Bad news for the bears though no doubt. Aye their misery before being put out of it will endure a while longer. 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted September 12, 2014 Share Posted September 12, 2014 God help them die a dignified death this time Noo come on you Larry ffs, do not offer them even the slightest glimpse of hope. They think that God is on their side an all that pish, so why has the devil incarnate taken over the Big Seat in Ra Big Hoose ? atonement for all their sins perhaps ? Obviously in keeping in line with the diddy mentality as No8 likes to call them, ma clubs next !!! 0 Quote Link to comment Share on other sites More sharing options...
flyingrodent Posted September 12, 2014 Share Posted September 12, 2014 God help them God please don't help them. 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted September 13, 2014 Share Posted September 13, 2014 The share issue target was a stated minimum of 3 mill. The shares went for 3.3 mill. So far we've had present directors declare that they took 0.5 mill. That means these lucrative stakes in Sevco, offered to the public (you and I included) have gone for 2.8 mill. What we need to need to know is who bought the shares that the Easdales never stumped up for? There are several reasons to buy shares, as we all know: 1) To reap a profit by selling them on aftewards (assuming a higher share price); 2) To reap dividends from them (% of profits); 3) to gain control of the companies assets (or a part of them); 4) A punt, on a mibbe/mibbe-no venture; 5) Blind loyalty to a company that means more than money to you. Any others? Who bought the shares? The answers are in there. I know Benny says I have some imagination and all that but let put forward my best possible Sherlock Holmes deductions. The Rangers BoD, "OK criminals oops I do mean friends country and gentle lend me your ears. The clubs fucked for money seeing as we bled it dry and it needs some more, ,,,, for us of course. I suggest we put forward another share issue and con the stupid fans into propping up the club whilst at the same time we loan the club the money so we get it back to ourselves har har". Major investors, "What if the fans don't buy up the whole lot of shares in issue ?, who's going to stump up for that ?". Rangers BoD, "AHHH !, now this is where we employ smoke screens and mirrors just like the last time, We get the daft cnuts, I mean the loyal fans to buy up as many shares as possible and exchange them for shares in the club so they do not own shares in the PLC and we wouldn't want them on this BoD's case would we ?. Once they have bought as many of the shares as possible we want you the investors to underwrite the value left to a specific amount and we'll make up the rest to pass as a successful minimum to give the illusion it was a success if they don't buy them all up". Major Investors, "What's in it for us ?". Rangers BoD, "The money we are asking to put into the share issue you'll get back plus the added bonus of owning more shares keeping your percentage as high as now. You buy up a set amount and we loan it to the club to stay solvent ensuring you get your cash back at some point even if the club goes tits up. And this is the best bit guys !, the money the fans cough up in the share issue will be loaned to the club and when we get it back to the holding company we'll divvy it out amongst us". Major Investors, "What if the fans buy up all the shares ?". Rangers BoD, "Remember we will swap the shares for shares in the club itself, they get more control of the club thinking they're getting their club back but because we on the board in the PLC actually fucking own them bitches and their club the BoD they put into the club will do our bidding because we own their asses". Major Investors, "What if the club goes tits up ?". Rangers BoD, "Well if it does then we'll own just about everything the club owned that wasn't nailed down and your shares in the PLC owning the clubs assets and everything another organisation needs to clone the club back together will be safe from the club in administration. Should the club actually fucking exit admin ha ha slight chance I know it will still be in debt to us and be debt free elsewhere to run it back into the ground and rinse and repeat". Major Investors, "How many times can you do this ?, clone the club again and again ?". Rangers BoD, "The associations or so desperate to get a Rangers club in the top tier they'll even lube their own arses to slip one into the top division even if it means the rest of the other clubs fans abstain". 0 Quote Link to comment Share on other sites More sharing options...
cyderspaceman Posted September 13, 2014 Share Posted September 13, 2014 The fans bought shares in the initial IPO that were exchange for shares in the club "RFC Ltd", that's part of the major con there as the fans don't have shares in the holding company. Although fans have a say in the club they don't have a say in the holding companies shenanigans who own the club. As far as I am aware, buying shares in The Rangers International Football Club means you have shares in that public limited company, which is listed on the Alternative Investment Market under the symbol 'RFC' The con was that the fans believed they were buying shares in the 'club', Rangers Football Club Ltd, which is a private limited company, whereas it was actually in the holding company TRIFC. 0 Quote Link to comment Share on other sites More sharing options...
lodmoorhill Posted September 13, 2014 Share Posted September 13, 2014 Yet again, it's a case of the ruthless leading the deluded. Surely to god the Rangers fans are going to realise at some point that they hold the key to power at Ibrox. They always did. No income for the club = no club. None of their fans are happy, yet they continue to feed the beast. It's so obvious a three year old could understand the implications. They've been fleeced, continue to be fleeced, and seem happy to be fleeced for the foreseeable future. Whilst the majority of us diddies would shed no tears at the demise of either of the ugly sisters, it's unfeasible that Rangers or Celtic could ever disappear off the face of Scottish football simply because of what they are. However much people loathe them it's inevitable that they will eventually pop up again, albeit in another guise. The Rangers fans simply have to withhold money, support, and ensure a boycott of any corporate sponsors. It's all they have ever had to do. They can easily force the spivs to sell up to a new "messiah". The spivs will sell before the club goes bust, simply because getting a bit of money is preferable to getting f**k all. Without the fans money, the board are a busted flush. The fans could have brought them to their knees a long time ago, and forced a change of ownership. The performance of their supporters clubs throughout the whole debacle has been woeful. If they'd spent less time dicking on about world domination, and "getting back" at the rest of Scottish football, and more time tackling the board head on, they wouldn't be in the position they are now (which is bent over and fucked up the ass). Mind you, it's been a bit of a giggle for everyone else. 0 Quote Link to comment Share on other sites More sharing options...
Bing (2) Posted September 13, 2014 Share Posted September 13, 2014 Game moved to last night so the confirmed bachelor could go far a Walk? 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted September 13, 2014 Share Posted September 13, 2014 Game moved to last night so the confirmed bachelor could go far a Walk? 54hpns.jpg Is that Dark Mingewall ? 0 Quote Link to comment Share on other sites More sharing options...
Bing (2) Posted September 13, 2014 Share Posted September 13, 2014 Yip 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted September 13, 2014 Share Posted September 13, 2014 As far as I am aware, buying shares in The Rangers International Football Club means you have shares in that public limited company, which is listed on the Alternative Investment Market under the symbol 'RFC' The con was that the fans believed they were buying shares in the 'club', Rangers Football Club Ltd, which is a private limited company, whereas it was actually in the holding company TRIFC. My reasoning is that the Ltd club itself cannot take the title of a PLC replacing Ltd status, this is because the Rangers Football Club PLC is in the process of liquidation. The club before the creation of the International PLC the club had a limited amount of shares and why it is called a limited company and cannot issue shares in any public sale because that would then conflict with the club in liquidation PLC status. There cannot be two legally known entities of the same name and why the Ltd club could not issue shares in any public sale making it a PLC. The holding company however could actually theoretically swap the limited shares from the club to the fans in exchange for their public shares in the holding company and the club maintains it limited status because no new shares were ever issued complying with corporate law. If this has been the case and has actually transpired the fans will get royally shafted. Just thought I'd throw that into the mixer seeing as anything possible can happen at Ibrokes and we all know the spivs can loop legal holes if there are any to be looped. I did a bit of research into whether this could be the case in the corporate business world and it is possible for this to happen if the fans agreed to this deal at the time of sale. Actually it's be fucking hilarious if this did actually happen. 0 Quote Link to comment Share on other sites More sharing options...
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