kiddy Posted April 2, 2015 Share Posted April 2, 2015 THURSDAY, 02 APRIL 2015 17:30Paul Murray Statement WRITTEN BY RANGERS FOOTBALL CLUB RANGERS interim Chairman Paul Murray has tonight released the following statement: We tried everything within our power to have the suspension lifted but it was clear that we would have to pay a price for years of poor corporate governance and financial mismanagement since the IPO. The delisting is down solely to the actions and conduct of past regimes. You could say the behaviour of previous directors has poisoned the well with AIM but even so we might have expected a little more understanding from certain quarters. However, I must point out that delisting will have no effect on our overall financial strategy. The investments we expect will still be made and Rangers will be rebuilt on schedule. Be certain that this delisting, which is down entirely to the actions of previous Boards, will have no bearing on future investment. Also, we are putting in place an extremely credible share-dealing facility which will enable shareholders to buy and sell their shares. I understand there will be some shareholders unhappy with this outcome but I am sure the vast majority of shareholders will be satisfied. One of the platforms keen to take us is ISDX. This is an exchange that Rangers used to trade on and it is also a trading platform for Arsenal. We will have a full platform set up by the end of May but have made arrangements to have a temporary facility operating by next Tuesday morning. It is unfortunate our intended Nomad, who had confirmed to us that they cleared all of the individuals concerned as fit and proper, could not proceed after having conducted due diligence on the company but I want to stress again that this will not hinder our plans. Glorious stuff PM says its all good, they are like Arsenal now :lol: Do they still have those shares in Arsenal? 0 Quote Link to comment Share on other sites More sharing options...
WhiteRoseKillie Posted April 2, 2015 Share Posted April 2, 2015 Hellbhoy Fúck me, I thought you were rangers Sevco deid! Welcome back, ya mad bástard. 0 Quote Link to comment Share on other sites More sharing options...
WhiteRoseKillie Posted April 2, 2015 Share Posted April 2, 2015 Interminable Chairmen seems to be the narrative.... Who is going to be the Terminal Chairman? (Answers own question by saying 'David Murray') Is that not the guy who looks after the Bus Station? 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted April 2, 2015 Share Posted April 2, 2015 THE INTERIM ACCOUNTS & HOW BAD THINGS REALLY ARE. The latest interim accounts paints the club itself as reducing it's debt, but that's a crock of shite and the dodgy accounting over the past two years has just caught up. There are two sums of money I am going to retract from the accounts to show up how bad things really as they aren't recurring items ie last Septembers share issue cash of £2.8 million and the lotto windfall from the Commonwealth games of £1.3 million. I want to show how bad the cash burn from the club itself without financial help. Interim accounts say running costs in debt to £2.88 million and without the share money and Commonwealth money the clubs actual debt without them now climbs to £6.98 million for the six months. And that's not all either ?, if you look in the interim accounts you will find the club took a loan of £3 million and in the interim accounts you will find that only £1.5 million was paid back so we now add the other £1.5 million to the total and we now see a cash burn of £8.48 million if the loan had been paid back before December 31st 2014. But !, we don not stop there either as we now start to look ahead to the total amount the club is accruing to the end of the season. We will now factor in Sports Directs initial £5 million and the club has now accumulated cash burn of £13.48 million and rising. Now we will add in the 3 bears £1.5 million and we get up until this date that the club without financial aid has burned through £14.98 million FFS and it isn't even the end of the season. There are 3 months left of the season and now I enter some speculation here and if the club has a cash burn debt of a million a month and I'm being generous here, we will now add a further £3 million to the total and we now see a staggering burn rate of £17.98 million for the season. That's the debt the club has just about to go through for one season to reach the top tier. And I haven't even began to speculate how much in bonuses will cost especially if they get promoted either because it is sure to be in the millions as well between the board and players etc etc etc. So the club during the season without said financial assistance will burn through over £20 million just for this season, aye the club is reducing it's debt and living within it's means ! AYE RIGHT. But just to make the bears happy we will know take that £4 million from the share and Commonwealth and retract it from the £20 million and the club for this season and the club will have got into £16 million plus in debt by the end of the season. So The Rangers by the end of the season will be £16 million in debt chasing the dream to reach the top tier 0 Quote Link to comment Share on other sites More sharing options...
Ken Fitlike Posted April 2, 2015 Share Posted April 2, 2015 Fúck me, I thought you were rangers Sevco deid! Welcome back, ya mad bástard. The_hellbhoy! 0 Quote Link to comment Share on other sites More sharing options...
lithgierose Posted April 2, 2015 Share Posted April 2, 2015 Tedi, on 02 Apr 2015 - 18:11, said: Just confirms that the old regime left the toxic shite. does that include the past regime PM was part off 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted April 2, 2015 Share Posted April 2, 2015 Arsenal. 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted April 2, 2015 Share Posted April 2, 2015 The_hellbhoy! No need to underscore Ken, I'm the original and not a The_Kincardined version and all my posting history is intact. 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted April 2, 2015 Share Posted April 2, 2015 (edited) OH ?, and Tedi !, the good guys won. I can't believe you got banned for pointing out the forum rules ya fud. Edited April 2, 2015 by hellbhoy 0 Quote Link to comment Share on other sites More sharing options...
WhiteRoseKillie Posted April 2, 2015 Share Posted April 2, 2015 THE INTERIM ACCOUNTS & HOW BAD THINGS REALLY ARE. The latest interim accounts paints the club itself as reducing it's debt, but that's a crock of shite and the dodgy accounting over the past two years has just caught up. There are two sums of money I am going to retract from the accounts to show up how bad things really as they aren't recurring items ie last Septembers share issue cash of £2.8 million and the lotto windfall from the Commonwealth games of £1.3 million. I want to show how bad the cash burn from the club itself without financial help. Interim accounts say running costs in debt to £2.88 million and without the share money and Commonwealth money the clubs actual debt without them now climbs to £6.98 million for the six months. And that's not all either ?, if you look in the interim accounts you will find the club took a loan of £3 million and in the interim accounts you will find that only £1.5 million was paid back so we now add the other £1.5 million to the total and we now see a cash burn of £8.48 million if the loan had been paid back before December 31st 2014. But !, we don not stop there either as we now start to look ahead to the total amount the club is accruing to the end of the season. We will now factor in Sports Directs initial £5 million and the club has now accumulated cash burn of £13.48 million and rising. Now we will add in the 3 bears £1.5 million and we get up until this date that the club without financial aid has burned through £14.98 million FFS and it isn't even the end of the season. There are 3 months left of the season and now I enter some speculation here and if the club has a cash burn debt of a million a month and I'm being generous here, we will now add a further £3 million to the total and we now see a staggering burn rate of £17.98 million for the season. That's the debt the club has just about to go through for one season to reach the top tier. And I haven't even began to speculate how much in bonuses will cost especially if they get promoted either because it is sure to be in the millions as well between the board and players etc etc etc. So the club during the season without said financial assistance will burn through over £20 million just for this season, aye the club is reducing it's debt and living within it's means ! AYE RIGHT. But just to make the bears happy we will know take that £4 million from the share and Commonwealth and retract it from the £20 million and the club for this season and the club will have got into £16 million plus in debt by the end of the season. So The Rangers by the end of the season will be £16 million in debt chasing the dream to reach the top tier Now that's what I'm talking about! HB is indeed back in the house. 0 Quote Link to comment Share on other sites More sharing options...
WhiteRoseKillie Posted April 2, 2015 Share Posted April 2, 2015 OH ?, and Tedi !, the good guys won. I can't believe you got banned for pointing out the forum rules ya fud. You don't have to - Tedi's the only one who actually believes it. Even Vicky's just agreeing to stop the poor wee radge finally going over the edge. 0 Quote Link to comment Share on other sites More sharing options...
nsr Posted April 2, 2015 Share Posted April 2, 2015 Does anyone on here know if a 'time-line' of events at Mordor exists? I tried searching the BRALT but gave up as it's monstrous. I'm just looking for the dates when something actually happened, like today for instance. There seemed to be a lot of things happened around times like Valentines, Christmas, Easter etc. but maybe my memory is playing tricks. The only event that really matters is that Rangers died. Everything else is a hilarious sequence of footnotes to that great final chapter. 0 Quote Link to comment Share on other sites More sharing options...
Crùbag Posted April 2, 2015 Share Posted April 2, 2015 The Daily Record and judgement just don't go.... http://www.theguardian.com/media/greenslade/2014/aug/06/daily-record-rangers Here's the Daily Record on Craig Whyte in November 2010: "Financial whizzkid Craig Whyte stands on the brink of pulling off the biggest deal of his life... Record Sport understands self-made billionaire Whyte has entered into the final stages of negotiations to buy control of the club he loves from Sir David Murray... A deal worth around £30million is now believed to have reached such an advanced stage that sources say Whyte, a high-roller who splits his time between a home in London and the idyllic Castle Grant in Grantown-on-Spey, could even have the keys to Ibrox in time to fund a major refurbishment of Walter Smith's top-team squad in January... By the age of 26, Whyte was already Scotland's youngest self-made millionaire. Now, 13 years on, and in charge of a vast business empire, his wealth is off the radar." Here's the Daily Record on Craig Whyte in October 2012: "A private investigation commissioned for Rangers showed Craig Whyte had a record of tax avoidance, failed companies and double dealings – before he was sold Sir David Murray's majority shareholding... The report, prepared by private investigators Titon, described Monaco-based Whyte as a 'fuyant' – French slang for an evader or manipulator. It warned there was no evidence to back claims circulated by Whyte's spin doctors that he was a billionaire with plenty of cash to finance Rangers. In fact, it said, there was no evidence he was even a multi-millionaire. The report talks of "the questionable source and extent of his reported wealth". And here's the Daily Record on Craig Whyte in August 2014: "The taxman was chasing Craig Whyte for £3.7million before he took over Rangers. HMRC focused on Whyte's personal finances and made several failed attempts to get him to pay his dues before, during and after his catastrophic reign at Ibrox... Documents seen by the Record show: * The authorities instructed debt enforcers to chase Whyte with a bill for almost £4million and threaten him with bankruptcy in May 2011, the same month that he bought Rangers... * Yet when he struck the notorious deal with Ticketus for funds to finance his Rangers takeover, he gave the firm a personal guarantee he was worth nearly £33million... At the same time he was able to run up a further £15million in unpaid taxes and penalties during his nine months in charge of Rangers. Whyte had bought Rangers for £1 from Sir David Murray in May 2011, while agreeing to wipe out the club's £18million debts... A sizeable proportion of Rangers fans still hold Murray at least partly responsible for the club's demise, arguing he should not have sold to Whyte, whose reputation had already been questioned." 0 Quote Link to comment Share on other sites More sharing options...
Dr Koop Posted April 2, 2015 Share Posted April 2, 2015 So, all part of the grand plan then? 0 Quote Link to comment Share on other sites More sharing options...
Doink Posted April 2, 2015 Share Posted April 2, 2015 Financial whizzkid 0 Quote Link to comment Share on other sites More sharing options...
sjc Posted April 2, 2015 Share Posted April 2, 2015 Isn't the Record doing the same at the moment by crawling up the arse of King, Murray & the 3 Bears? 0 Quote Link to comment Share on other sites More sharing options...
Vanderlei Posted April 2, 2015 Share Posted April 2, 2015 Hellbhoy ^^^ released from jail. -1 Quote Link to comment Share on other sites More sharing options...
topcat(The most tip top) Posted April 2, 2015 Share Posted April 2, 2015 Isn't the Record doing the same at the moment by crawling up the arse of King, Murray & the 3 Bears? You do wonder whether the "journalists" at the Record have been bought off by any of these people or whether they do it for free. 0 Quote Link to comment Share on other sites More sharing options...
K Dodd Posted April 2, 2015 Share Posted April 2, 2015 Does anyone on here know if a 'time-line' of events at Mordor exists? I tried searching the BRALT but gave up as it's monstrous. I'm just looking for the dates when something actually happened, like today for instance. There seemed to be a lot of things happened around times like Valentines, Christmas, Easter etc. but maybe my memory is playing tricks. Well why not start one. If we start with death, and the go for BD(before death) and AD(after death) it may give a concise view of the goings on. If I can start with an easy one and deathday assumed to be 14th feb 2012.-: BD:- BD:- Craig White DD:- Valentine's Day 2012 AD:- Duff & Phelps AD:- Feel free to add in order. 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted April 2, 2015 Share Posted April 2, 2015 The QC has returned I see, I'm guessing he banged up for non payment of fines. 0 Quote Link to comment Share on other sites More sharing options...
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