Henrik's tongue Posted January 5, 2015 Share Posted January 5, 2015 Same club. 0 Quote Link to comment Share on other sites More sharing options...
Drew Brees Posted January 6, 2015 Share Posted January 6, 2015 Rejection of Possible Offer The Board of Rangers has considered the possible offer from Robert Sarver (or a vehicle to be established and controlled by him) ("Mr Sarver"). The proposal by Mr Sarver comprises a placing of 100 million shares at 18p ("Placing") which, if approved by shareholders at a general meeting, would be immediately followed by an unconditional offer at 18p pursuant to Rule 9 of the Code. The Placing would give Mr Sarver control of Rangers. While the Directors welcome Mr Sarver's approach, they believe that, notwithstanding the current financial difficulties, the proposal does not adequately value a controlling interest in the Company and accordingly the resolution to approve the placing is unlikely to achieve the 75% majority required. The Directors do not intend to hold the General Meeting which would be necessary to implement the proposal. The Company is managing its cash resources carefully and will require further funding before the end of January. The Directors are in discussions with Rangers' significant stakeholders with a view to arranging finance for the Club. This is likely to comprise loans in the short term and possibly equity in the medium term. The board has invited Mr Sarver to consider participating in a similar discussion alongside other supportive shareholders. 0 Quote Link to comment Share on other sites More sharing options...
GreenockRover Posted January 6, 2015 Share Posted January 6, 2015 Just a thought, is leach being appointed part of ashleys end game? Ensure his contracts are watertight, get his loans repaid as a priority and then sell up? Let llambias and leach negotiate their walk away deals as well? Ceo signs off FD and vice versa The ultimate "Lifeboat Option". Quite simply, the best way to protect his loans if this particular ship shows signs of sinking. Equally, holds the key positions to ensure particular contracts, onerous or otherwise, are under his control. Sensible move from Ashley really. Options available if needed. 0 Quote Link to comment Share on other sites More sharing options...
GreenockRover Posted January 6, 2015 Share Posted January 6, 2015 Rejection of Possible Offer The Board of Rangers has considered the possible offer from Robert Sarver (or a vehicle to be established and controlled by him) ("Mr Sarver"). The proposal by Mr Sarver comprises a placing of 100 million shares at 18p ("Placing") which, if approved by shareholders at a general meeting, would be immediately followed by an unconditional offer at 18p pursuant to Rule 9 of the Code. The Placing would give Mr Sarver control of Rangers. While the Directors welcome Mr Sarver's approach, they believe that, notwithstanding the current financial difficulties, the proposal does not adequately value a controlling interest in the Company and accordingly the resolution to approve the placing is unlikely to achieve the 75% majority required. The Directors do not intend to hold the General Meeting which would be necessary to implement the proposal. The Company is managing its cash resources carefully and will require further funding before the end of January. The Directors are in discussions with Rangers' significant stakeholders with a view to arranging finance for the Club. This is likely to comprise loans in the short term and possibly equity in the medium term. The board has invited Mr Sarver to consider participating in a similar discussion alongside other supportive shareholders. Summary... "Roon Ye, ya cheeky basturt! Ye urny a pyure Ranjurs man like and it's oor toy so... get tae !" "If he want tae just chip in some of yon dosh you have, we'll gie ye a braw tie but..." (Mike Ashley smiles and leans back in his chair...) 0 Quote Link to comment Share on other sites More sharing options...
Dr Koop Posted January 6, 2015 Share Posted January 6, 2015 What delights await the electroconvulsive therapy patient of the SPFL today? 0 Quote Link to comment Share on other sites More sharing options...
Dr Koop Posted January 6, 2015 Share Posted January 6, 2015 Rejection of Possible Offer The Board of Rangers has considered the possible offer from Robert Sarver (or a vehicle to be established and controlled by him) ("Mr Sarver"). The proposal by Mr Sarver comprises a placing of 100 million shares at 18p ("Placing") which, if approved by shareholders at a general meeting, would be immediately followed by an unconditional offer at 18p pursuant to Rule 9 of the Code. The Placing would give Mr Sarver control of Rangers. While the Directors welcome Mr Sarver's approach, they believe that, notwithstanding the current financial difficulties, the proposal does not adequately value a controlling interest in the Company and accordingly the resolution to approve the placing is unlikely to achieve the 75% majority required. The Directors do not intend to hold the General Meeting which would be necessary to implement the proposal. The Company is managing its cash resources carefully and will require further funding before the end of January. The Directors are in discussions with Rangers' significant stakeholders with a view to arranging finance for the Club. This is likely to comprise loans in the short term and possibly equity in the medium term. The board has invited Mr Sarver to consider participating in a similar discussion alongside other supportive shareholders. Yankee go home. 0 Quote Link to comment Share on other sites More sharing options...
shull Posted January 6, 2015 Share Posted January 6, 2015 What delights await the electroconvulsive therapy patient of the SPFL today? Death, I hope. 0 Quote Link to comment Share on other sites More sharing options...
ThreeBearsOneKing Posted January 6, 2015 Share Posted January 6, 2015 It was always going to get rejected so there's no surprise there. 75% would never have accepted 18p a share, when they paid more for them and the current value is sitting at 26p. The end game is nigh for the spivs. King will make his move offering debt for equity. Sarver will also get the chance to work along side King and co which he's thinking about. 0 Quote Link to comment Share on other sites More sharing options...
shull Posted January 6, 2015 Share Posted January 6, 2015 (edited) It was always going to get rejected so there's no surprise there. 75% would never have accepted 18p a share, when they paid more for them and the current value is sitting at 26p. The end game is nigh for the spivs. King will make his move offering debt for equity. Sarver will also get the chance to work along side King and co which he's thinking about. WELCOME How dae you pronounce yir name ? Edited January 6, 2015 by shull 0 Quote Link to comment Share on other sites More sharing options...
Kyle Posted January 6, 2015 Share Posted January 6, 2015 The latter, it ran its course for me a while ago. Had plenty of laughs along the 'journey' and I have no ill feelings towards anyone who insulted me, I knew that just came with the territory apart from AWRA who's a cnut and I'm still waiting on him to pan my windaes in after Tannadice in 2012. Some good people on here even the Rangers fans. Some people on here a little unbalanced with too much bias in the brain from both sides especially Norman, but who wants everyone to be the same it would be boring? I ran a parallel joke between Rangers and Inverness CT using the blue and red in my text that represent both clubs, then there was the sig which was ''nearly winning trophies 'against all odds'. Which ICT did last season in both cups and the 'against all odds' referred to Charles Bannerman's book about the beginnings of the merged club and the years after. This could easily be mistaken on this thread to refer to Rangers. Then there's my avatar which surprisingly no one picked up on, that deformed skull wasn't random weirdness it was a light hearted dig at Rangers fans with the skull belonging to a certain ancient tribal person of eastern European origin who were well known to the Romans and Germans. Been a Caley Jaggy for about 20 years and Caley fan pre merger born and brought up in Inverness and I'm an occasional poster on CTO. I'll miss the coloured text, the mispelling, the broken caps lock and supporting 'the world most successful club', but all good things come to an end. Fucking bravo I had an argument with you on the Rangers vs Saints League Cup match thread and had you pegged as one of the angry ones. Well played Snafu. 0 Quote Link to comment Share on other sites More sharing options...
williemillersmoustache Posted January 6, 2015 Share Posted January 6, 2015 "the company is managing its cash resources carefully" Lol 0 Quote Link to comment Share on other sites More sharing options...
Ivo den Bieman Posted January 6, 2015 Share Posted January 6, 2015 Sarver clearly didn't come up with enough loot to tempt the spivs to walk away. Will be interesting to see if he makes a fresh offer or realises through this bizarre action how he might lose a substantial part of his fortune, and walk away. I doubt a businessman like he appears to be (there seems a lot more substance to Sarvar than Bill "Juggernaut" Miller) will be happy playing second fiddle to Dave King. What an utter shambles from start to finish. When you look at the chancers, shysters and sociopaths involved in this story since it began when Craig Whyte "took over"; Bill Miller, Oddball Kennedy, Dave King, (the "3 Bears" ) Chuckie Cheese, Paul "anxious face of concern but no that much cash" Murray, the current board of Easdales, Haudit and Daudit, Ashley, Llambias...dear me. It's difficult to credit that such business "acumen" can be concentrated in one boardroom. It make's Livingston's boardroom history look whiter than white by comparison. I know it's not a popular view but actually now I feel a bit sorry for the ordinary punter who has nothing to do with all the bigoted /triumphalism shite who just enjoys a game at Ibrox once a fortnight. For that type of supporter it's perhaps best to let the next of the thousand cuts be the death blow for this Sevco vehicle, and to start again next season in the Lowland League. A supporter run club using their own money for the long haul to try and rebuild Rangers. But the fan base seems so divided and riven with factional egos and downright roasters that that seems a pipe dream I'm afraid. Extraordinary stuff. 0 Quote Link to comment Share on other sites More sharing options...
BigRubberFist Posted January 6, 2015 Share Posted January 6, 2015 Sounds like Ashley will continue to keep the club on a financial dripfeed until he owns lock, stock, the whole flipping lot. As long as he controls the boardroom, ALL offers for the club will be rejected. 0 Quote Link to comment Share on other sites More sharing options...
Musketeer Gripweed Posted January 6, 2015 Share Posted January 6, 2015 It seems beggars can be choosers after all then. What a fucking circus. 0 Quote Link to comment Share on other sites More sharing options...
ribzanelli Posted January 6, 2015 Share Posted January 6, 2015 I know it's not a popular view but actually now I feel a bit sorry for the ordinary punter who has nothing to do with all the bigoted /triumphalism shite who just enjoys a game at Ibrox once a fortnight. I feel sorry for him too 0 Quote Link to comment Share on other sites More sharing options...
ThreeBearsOneKing Posted January 6, 2015 Share Posted January 6, 2015 Statement re Rangers Football Club Further to statement issued by Rangers Int. Football Club Plc ("RIFC") on 5 January 2015, Robert Sarver, the US financier and majority owner of the National Basketball Association franchise Phoenix Suns, confirms that he has made an approach to the Board of RIFC with a view to explore the possibility of purchasing the entire issued share capital of the company. Mr Sarver also notes the deadline of 5.00 p.m., 2 February 2015 in accordance with Rule 2.6(a) of the City Code on Takeovers and Mergers (the "Takeover Code"). Nothing in this announcement constitutes an announcement of a firm intention to make an offer in accordance with Rule 2.7 of the Takeover Code. There can be no certainty that an offer will be made nor as to the terms on which any offer might be made. Mr Sarver revealed that it was conversation with former Rangers player, Davie Robertson, now a successful youth football director in Phoenix, Arizona, which first sparked his interest in the club. Speaking from Arizona, Mr Sarver said: "My three sons all play soccer, as we call it here in the US, for Davie's club. "Initially, I'd had some of my advisors examining potential investments in teams in the English Premier League and in Spain, but Davie encouraged me to take a close look at Rangers. "Like all Rangers fans, he's really upset about how far the club has fallen in recent years and the more we spoke, the more interested I became. "I'd be the first to admit that I'm not a lifelong Rangers supporter, but anyone who knows me is aware that I'm a genuine sports fanatic and owning two major basketball franchises for the past decade has been an enormous privilege. "I've spent the vast majority of my career in public companies and I'm used to working in very highly regulated environments. I understand the crucial importance of business integrity and transparency. "Rangers fans have every right to be wary about someone showing an interest in the club they love, especially given some of the events of recent years. "First and foremost I believe what the club needs today is a very quick, major injection of capital to stabilise things and I can give the Rangers supporters a categorical assurance that I have the resources and ability to get this club back to its elite level. "I'm looking forward to building a consensus amongst supporters and prominent Rangers-minded figures who have the long-term success of the club at heart. "I've had detailed research carried out on Rangers and I'm convinced that we could take it back to the top of the Scottish game on a stable and sustainable basis." Mr Sarver is a highly-respected CEO of New York Stock Exchange-listed Western Alliance Bancorporation, a $10 billion dollar bank holding company, and also sits on the board of directors of two other major publicly-listed US companies, Meritage Homes and Skywest Airlines. He has already provided proof of funds to the Rangers board. A high-profile figure in US sports, he purchased a majority ownership in the Phoenix Suns basketball franchise in 2004. During Mr Sarver's tenure the team boasts the fourth-best winning record in the NBA. Women's basketball is also big in the US and, under Mr Sarver's ownership, Phoenix Mercury has won three WNBA titles. Former Rangers Football Club player, Davie Robertson, said: "I've known Robert for several years. He has been very supportive of our local club and has a very good reputation in the US. "When he said he was looking to invest in football in Europe, I told him right away that Rangers could really be doing with someone with his track record. I explained how far the club has fallen, but that there was huge potential to rebuild it." Mr Robertson, who played 245 times for Rangers over six seasons and was part of the side which won nine-in-a-row, continued: "Even though I'm now based over here, I always watch really closely how things are going at Ibrox and it's tragic to see how a club which was once a force in Europe has been brought so low. "I can tell every Rangers fan in Scotland and abroad, if Robert Sarver is successful in becoming part of the club, he'll not rest until they are back on top again." Sounds promosing indeed, like I said the end game is nigh. Ideally King and the three bears will acquire the club this week or next. 0 Quote Link to comment Share on other sites More sharing options...
Stag Nation Posted January 6, 2015 Share Posted January 6, 2015 The ultimate "Lifeboat Option". Quite simply, the best way to protect his loans if this particular ship shows signs of sinking. Equally, holds the key positions to ensure particular contracts, onerous or otherwise, are under his control. Sensible move from Ashley really. Options available if needed. Ashley's loans are already protected. If Rangers default he'll be the proud owner of a derelict building and a car park, allegedly worth more than £3 million. 0 Quote Link to comment Share on other sites More sharing options...
ThreeBearsOneKing Posted January 6, 2015 Share Posted January 6, 2015 Was it a genuine approach, I don't think so?. Looked more like a distraction away from the sheer panic to pay that NI bill. Who is Sarver connected to...Lethem?. Lethem/Park/Taylor appear more board friendly than David King, but maybe this also served to force Mike Ashley's hand. I take it Somers approached Mike Ashley a couple of days ago for another loan and Ashley said no??. Now I doubt now that this has anything to do with the SFA ruling stopping Ashley, he does what wants anyway (the appointment of Barry Leach to the board). Maybe Sarver has been around for a while and might even have been involved with those silent American investors that were rumoured to be pulling the strings back during Green's and Stockdale's time at the club???. I'm certain it was. A disraction away from what? It took the matter of minutes for this to be cleared. He's independant and connected to no one, but willing to work with King, Park and co. Ashley already had the option of adding two people on the board, he can add another. I highly doubt it, you never know though. I'm sure the obsessed will be doing a background check on him as we speak. 0 Quote Link to comment Share on other sites More sharing options...
BigRubberFist Posted January 6, 2015 Share Posted January 6, 2015 He's not allowed to have interests in two clubs - as per SPFL rules - yet he does. He simply doing what Brian Potter did in series two of Phoenix Nights : put someone else's name on the license, yet pull the strings from behind. Llambias and Leach are merely his Jerry the Saint. 0 Quote Link to comment Share on other sites More sharing options...
Alan H Posted January 6, 2015 Share Posted January 6, 2015 Oxymoron of the year award? "The Company is managing its cash resources carefully and will require further funding before the end of January" 0 Quote Link to comment Share on other sites More sharing options...
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