Florentine_Pogen Posted February 24, 2014 Share Posted February 24, 2014 A new bus depot on the offing??? The Kraydale Brothers and Graham Wallace are pleased to announce yet another fleecing of Sevco. 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted February 24, 2014 Share Posted February 24, 2014 (edited) There's not a great deal of detail of the Easdale deal, but the Laxey deal seems very one-sided. 15% on a secured loan with an option (at their discretion) of a payback in shares. I thought it was only sheep that got fleeced, not bears! Edited February 24, 2014 by Granny Danger 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted February 24, 2014 Share Posted February 24, 2014 There's not a great deal of detail of the Easdale deal, but the Laxey deal seems very one-sided. 15% on a secured loan with an option (at their discretion) of a payback in shares. I thought it was only sheep that got fleeced, not bears! Their fans are certainly behaving like sheep. 0 Quote Link to comment Share on other sites More sharing options...
Double Jack D Posted February 24, 2014 Share Posted February 24, 2014 Neither have the bearz .. they can't even read the club's statement properly. Many are convinced Sandy the Shark is not charging a fee ... Apparently after reading this .. most concluded it means no fee and interest free. Tedi has been giving them lessons in comprehension again, so it would seem. No wonder they continually get ripped off .... http://www.bbc.co.uk/sport/0/football/26321268 Seems the BBC are struggling to decipher the message too 0 Quote Link to comment Share on other sites More sharing options...
Double Jack D Posted February 24, 2014 Share Posted February 24, 2014 Mibbes the club statement has a misprint. Maybe. Or maybe very cleverly written! 0 Quote Link to comment Share on other sites More sharing options...
cyderspaceman Posted February 24, 2014 Share Posted February 24, 2014 ok I'll bite. We are, of course, the Rangers International Football Club Ltd. however, if you were one of us, you'd understand that we are Rangers then, Rangers now and Rangers forever. What's in a name, eh. Wrong. 0 Quote Link to comment Share on other sites More sharing options...
williemillersmoustache Posted February 24, 2014 Share Posted February 24, 2014 Sale and leaseback by the back door? Seems like a complicated web of mis direction. Sure there are some egg heads out there who will explain this better but: This a loan to this company, to provide working capital, from individual investors who already have a sizeable chunk of shares in this company, secured against assets owned by the company they have these shares in, or against future shares in this very same club/ company that they already have these shares in. Simples 0 Quote Link to comment Share on other sites More sharing options...
The_Kincardine Posted February 24, 2014 Share Posted February 24, 2014 Neither have the bearz .. they can't even read the club's statement properly. Many are convinced Sandy the Shark is not charging a fee ... Apparently after reading this .. most concluded it means no fee and interest free. Tedi has been giving them lessons in comprehension again, so it would seem. No wonder they continually get ripped off .... Mibbes the club statement has a misprint. Or mibbes you've just made another James Hunt of yourself. I can see why you feel at home on RM -1 Quote Link to comment Share on other sites More sharing options...
Double Jack D Posted February 24, 2014 Share Posted February 24, 2014 Or mibbes you've just made another James Hunt of yourself. I can see why you feel at home on RM Mibbes How do you feel about your club paying investors 15% for a 6 month secured loan facility? Looks pretty desperate IMO. 0 Quote Link to comment Share on other sites More sharing options...
Fotbawmad Posted February 24, 2014 Share Posted February 24, 2014 Sale and leaseback by the back door? Seems like a complicated web of mis direction. Sure there are some egg heads out there who will explain this better but: This a loan to this company, to provide working capital, from individual investors who already have a sizeable chunk of shares in this company, secured against assets owned by the company they have these shares in, or against future shares in this very same club/ company that they already have these shares in. Simples We know two weeks ago that the coffers ran out. This loan is most likely going to be used to fund administration, because without it they would have to go into voluntary liquidation. 0 Quote Link to comment Share on other sites More sharing options...
Mybitchunderprotest Posted February 24, 2014 Share Posted February 24, 2014 (edited) that'll be the precious car park gone According to this fellow on twitter, that could pose a significant problem. Harry Brady @HarryBradyCU Follow Remember, planning consent states club deck only useable whilst RFC have access to Albion St car park 8:02 AM - 24 Feb 2014 edited because I don't have a fucking clue how to embed a twitter link. Edited February 24, 2014 by Mybitchunderprotest 0 Quote Link to comment Share on other sites More sharing options...
cyderspaceman Posted February 24, 2014 Share Posted February 24, 2014 (edited) I looked at orcmedia. There is much discord there. Pleasing. .This one is good. simplythebest Forever a Unionist True Blue 39,576 posts Gender:Male Location:Glasgow Who has said we don't have money? Who's said it's a crisis loan? Edited for clarification Edited February 24, 2014 by cyderspaceman 0 Quote Link to comment Share on other sites More sharing options...
The_Kincardine Posted February 24, 2014 Share Posted February 24, 2014 Mibbes How do you feel about your club paying investors 15% for a 6 month secured loan facility? Looks pretty desperate IMO. Jack D We discussed it on here on Friday and my opinion hasn't changed for the better now the terms of the loans are a bit clearer (well to those of us who can read): http://www.pieandbovril.com/forum/index.php/topic/167655-big-rangers-administrationliquidation-thread-all-chat-here/?view=findpost&p=8177213 We all know we're skint Nae Bear thinks getting £1.5M in cash in exchange for 'future shares' is a good idea and 15% return in 6 months is getting towards usury territory Nae Bear welcomes this situation The best I can hope for is we pay the wages to the end of the season and start 2014/2015 on a strict budget with no pay-outs to spivs and chancers but this is looking increasingly less likely. The bits in red are changes to my Friday opinion now we are slightly better informed. 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted February 24, 2014 Share Posted February 24, 2014 Jack D We discussed it on here on Friday and my opinion hasn't changed for the better now the terms of the loans are a bit clearer (well to those of us who can read): http://www.pieandbovril.com/forum/index.php/topic/167655-big-rangers-administrationliquidation-thread-all-chat-here/?view=findpost&p=8177213 We all know we're skint Nae Bear thinks getting £1.5M in cash in exchange for 'future shares' is a good idea and 15% return in 6 months is getting towards usury territory Nae Bear welcomes this situation The best I can hope for is we pay the wages to the end of the season and start 2014/2015 on a strict budget with no pay-outs to spivs and chancers but this is looking increasingly less likely. The bits in red are changes to my Friday opinion now we are slightly better informed. Loansharktastic ! 0 Quote Link to comment Share on other sites More sharing options...
MONKMAN Posted February 24, 2014 Share Posted February 24, 2014 Are some rangers fans that deluded, that they can't see what's in front of them. The club has no money, they're borrowing £1.5 million just to see them through until season ticket and their own major shareholders are holding them to ransom for that loan. The future's looking good. 0 Quote Link to comment Share on other sites More sharing options...
williemillersmoustache Posted February 24, 2014 Share Posted February 24, 2014 Pretty reasonable from you TK, but if you could just cut to the car chase and explain how upsetting this is for you, how you wake with a tear soaked pillow every morning, that would be ideal and I'm sure we'd all be most grateful. Thanks in advance. 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted February 24, 2014 Share Posted February 24, 2014 Are some rangers fans that deluded, that they can't see what's in front of them. The club has no money, they're borrowing £1.5 million just to see them through until season ticket and their own major shareholders are holding them to ransom for that loan. The future's looking good. "At current season ticket rates it will take 6,600 season ticket sales to repay the ‘The Facilities’ with a further 3,300 needed to pay Ally McCoist’s salary." 0 Quote Link to comment Share on other sites More sharing options...
flyingrodent Posted February 24, 2014 Share Posted February 24, 2014 Been on holiday, so missed much of the recent hilarity. Any news on Ally's warchest for next season? 0 Quote Link to comment Share on other sites More sharing options...
Bloomogganners Posted February 24, 2014 Share Posted February 24, 2014 Been on holiday, so missed much of the recent hilarity. Any news on Ally's warchest for next season? 10 reserved parking spaces, money raised from them. 0 Quote Link to comment Share on other sites More sharing options...
Henrik's tongue Posted February 24, 2014 Share Posted February 24, 2014 Never mind all that, are they deid (again) yet? 0 Quote Link to comment Share on other sites More sharing options...
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