Big Rangers Administration/Liquidation Thread - All chat here!

[bennett]

Thought King was puyr minted ... three of them you say ...

No, Keith Jackson says.....

[muirkirk nil]

[muirkirk nil]

DAVE King, Paul Murray and George Letham are locked in discussions with the Rangers board over a potential multi-million pound bailout.

Record Sport can reveal the trio of wealthy fans have teamed up in a joint bid to help their club stave off another financial collapse by offering to fund an urgently needed cash injection.

And the proposed rescue package could see King, Murray and Letham become key players as the club tries to move forward after almost three years of civil war.

Last night none of the parties involved were willing to comment when approached by Record Sport. However, we understand talks have been ongoing between chief executive Graham Wallace and the King-led consortium for more than four weeks.

With the club’s cash position becoming critical, there is a growing sense of urgency to shake hands on a deal.

In fact, Wallace and Murray have met again over the last 48 hours in a bid to thrash out a deal. Wallace, though, could still face resistance from fellow directors including James and Sandy Easdale, who have formed an alliance with Newcastle owner Mike Ashley.

Just last week Ashley increased his stake in Rangers to almost nine per cent following meetings with the Easdale camp in London.

As we revealed last month, Sandy Easdale has also been attempting to secure outside investment from a Malaysian consortium with the help of Rafat Rizvi – a convicted criminal wanted by Interpol for money laundering and embezzlement in Indonesia.

The Easdales also hold proxy votes over a large block of shares including those belonging to Blue Pitch Holdings and Margarita Holdings.

Together with Ashley’s 8.92 per cent stake, this group accounts for 22.75 per cent of the current holding.

It’s unclear if the two largest shareholders, Laxey Partners (16.3 per cent) and Artemis Investment Management (9.95 per cent) are siding with Easdale or Wallace.

But with King, Murray and Letham joining forces – and with another wage bill to be met in three weeks – Wallace is hopeful of persuading them to back the new proposal.

King, Murray and Letham have played prominent roles at different points throughout the recent Rangers narrative.

King and Murray were part of the old board before Craig Whyte’s disastrous takeover.

Murray then led the Blue Knights consortium which tried to purchase the club.

South African-based tycoon King recently pledged to plough £30m into rebuilding Rangers but only if he was guaranteed outright control while Letham weighed in with a £1m crisis loan to keep the floodlights switched on before the end of last season.

The latest developments came as protest group Sons of Struth met in Glasgow last night where angry fans again demanded that the current regime at Ibrox is ousted.

[dave.j]

--------------------------------------------------------------------------------

keith jackson @tedermeatballs · 9s 10 seconds ago

OK bed time. Back page will be up soon. Suffice to say a multi million pound bailout offer has been made by a three man consortium

Hmmm bang on the money or gonnae buy the record tomorrow bears....

Rewording 2 month old Blogs from the Irishman. Good work, Keith.

[weirdcal]

I can see them buying the pitch, someone ending up with ibrox, digging it up and dumping it at the gates for them to collect

[Bing (2)]

Civil War

Rangers International Football Club plc

("Rangers" or the "Company")

Notice under Section 303 of the Companies Act 2006

The Company announces that it has received a notice dated 7 October 2014 from Mike Ashley, a director of MASH Holdings Limited ("MASH") under Section 303 of the Companies Act 2006. The notice states that MASH holds 4,265,000 Ordinary Shares of 1p each in the Company amounting to 5% of the voting rights of the Company.

MASH requires the Company to call a general meeting of the Shareholders of the Company and to put certain resolutions to Shareholders for inclusion in the business at such a general meeting of the Company (the "Notice"). The Notice puts forward resolutions for the removal of Graham Wallace and Philip Nash as directors of the Company. 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 particularly given the Company's forthcoming Annual General Meeting, further details of which will be announced in due course.

The Board is united in its support of the executive team. If the Notice is valid and is not withdrawn, the Directors intend to recommend that Shareholders vote against the proposed resolutions. A further announcement will be made shortly.

[Bing (2)]

For Mash get Smashed.......

[~~~]

This is hilarious

[williemillersmoustache]

[Magoo9uk]

When I was at school, we had an expression for people who ran to authorities with their menial complaints. You fit that expression.

YOU are nothing more than a FUCKING GRASS.

Kneecap the Tout,or just a Tar and Feather job? ????

[shull]

[Bing (2)]

Sevcocide is painless , at least for us.

[H Wragg]

Alasdair Lamont has just been on Radio Scotland saying that he spoke to King this morning and he's denying the Record story.

[cyderspaceman]

Bypass the filter and I will do it again, is that clear enough for you?

Amateur *** policeman.

[Lex]

Ashley wants to turn Ibrox into a big sports direct shop, and he's going to do it.

What a stumbling, floundering joke this disgusting new club is. On and off the park.

The Rangers

[ThirdrockfromtheSon]

Oh my, my mate from Dumbarton thinks he's Danny Dyer lol

You have mates? Really?

Who is your mate from Dumbarton?

And he thinks he's Danny Dyer?

Wow, must be some mate you have there.

I'd love to meet him. What a guy.

[Doink]

Ashley is calling for an emergency meeting to get rid of Wallace and some other guy. Probably wants to replace them with Ant and Dec .

[WeeHectorPar]

:lol: ... So Keith's scoop is Dave 'do you give in yet' King ... :lol:

But just when you thought things were getting interesting, back comes Mike Ashley.

Rangers power struggle: Mike Ashley calls for EGM in bid to remove chief executive Graham Wallace and Philip Nash

• Oct 08, 2014 08:00
• By Dailyrecord.co.uk

THERE was more unrest at Ibrox this morning as Newcastle supremo Ashley, who last week increased his stake in the club to nine per cent, called for the removal of Wallace and director Nash.

• 74 Shares
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Owen Humphreys/PA Wire

Mike Ashley wants Wallace and Nash out at Ibrox

MIKE Ashley has called for an EGM to remove Graham Wallace and Philip Nash as directors of Rangers, the Ibrox outfit have announced in a statement to the Stock Exchange.

The Newcastle United supremo increased his stake in the Ibrox club last week to almost nine per cent through his company MASH Holdings Ltd.

And today he served a notice under section 303 of the Companies Act 2006 calling for an EGM and the removal of chief executive Wallace and financial guru Nash from the club's PLC board.

It comes amid talks between Wallace and a consortium led by South Africa-based businessman Dave King over a multi-million pound bailout at Ibrox .

Record Sport revealed this morning how Dave King, Paul Murray and George Letham have teamed-up in a joint bid to stave off another financial collapse at the troubled Championship club.

Ashley’s move this morning was confirmed in a statement on the Rangers website. It also stated the Ibrox board seek to have the notice withdrawn due to costs and say they back executive team.

Ashley had previously owned three million shares in the club which he bought when the club was floated back in December 2012.

However, just three weeks after announcing he would not partake in the emergency open offer the club was forced to launch last month to solve its short-term cash crisis, Ashley splashed out around £850,000 on buying more than four million existing shares from investment group Hargreave Hale.

The open offer was under subscribed by just less than £800,000, meaning the club's board will now have to launch another share issue before the end of the year in order to meet December's wage bill.

In the club's Stock Exchange statement, they say: "The company announces that it has received a notice dated 7 October 2014 from Mike Ashley, a director of MASH Holdings Limited ("MASH") under Section 303 of the Companies Act 2006. The notice states that MASH holds 4,265,000 Ordinary Shares of 1p each in the Company amounting to 5 per cent of the voting rights of the Company.

"MASH requires the company to call a general meeting of the shareholders of the company and to put certain resolutions to shareholders for inclusion in the business at such a general meeting of the company (the "notice").

"The notice puts forward resolutions for the removal of Graham Wallace and Philip Nash as directors of the company. 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 particularly given the company's forthcoming annual general meeting, further details of which will be announced in due course.

"The board is united in its support of the executive team. If the notice is valid and is not withdrawn, the directors intend to recommend that shareholders vote against the proposed resolutions. A further announcement will be made shortly."

Who would you prefer to be in charge at Rangers

• The current board
• Mike Ashley
• Dave King
• Charles Green
• Someone else

Ashley's influence over matters at the club have long concerned the Ibrox faithful.

Already worried by the way he has antagonised Newcastle supporters, their fears only increased when it was revealed last month that he had bought naming rights to Ibrox from former chief executive Charles Green for just £1.

He has already struck a deal to take over the club's retail division and his latest move appears to be his next bid for increased power at board room level.

Reports have recently suggested that club board chairman Sandy Easdale favours Ashley as the man to solve the club's deepening financial troubles, while Wallace would prefer to see former oldco director Dave King return to the club as a new investor.

Sevco - the club that just can't stop giving!

[cyderspaceman]

Who would you prefer to be in charge at Rangers

• The current board - 9%
• Mike Ashley - 8%
• Dave King - 40%
• Charles Green - 24%
• Someone else - 19%

There's a choice missing there :- NOBODY

[Bing (2)]

Amateur *** policeman.

So presumably he will do the same to the bearz that bypassed the swear filter with the pic of that livi boys tweet.....

I doubt it.