weirdcal Posted July 1, 2014 Share Posted July 1, 2014 ^^^^^Only ever read The Urban Dictionary how well you know me kinky.. although i do also read the profanasaurus 0 Quote Link to comment Share on other sites More sharing options...
Bing (2) Posted July 1, 2014 Share Posted July 1, 2014 ssue of Equity The Company has made an application to the London Stock Exchange for 714,285 new ordinary shares of 1p each ("New Ordinary Shares") to be admitted to trading on AIM ("Admission"). It is expected that Admission of the New Ordinary Shares will become effective and that dealings will commence at 8.00 a.m. on 7 July 2014. The New Ordinary Shares are being issued pursuant to an exercise of the options granted to Brian Stockbridge (a former Director of the Company) on admission of the Company's shares to trading on AIM pursuant to Mr Stockbridge's original contract of employment with The Rangers Football Club Limited dated 17 September 2012. In accordance with the provisions of chapter 5 of the Disclosure and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following this issue, its issued share capital will comprise 65,810,341 ordinary shares of 1p each. All of the existing ordinary shares and New Ordinary Shares shall have equal voting rights. The total number of voting rights in the Company following the issue of the New Ordinary Shares is therefore 65,810,341. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules. Freebie for Brian? 0 Quote Link to comment Share on other sites More sharing options...
Bing (2) Posted July 1, 2014 Share Posted July 1, 2014 (edited) My understanding is that all shares are technically 1p shares and trade at the current market value, there was a provision for these 'extra' shares to be issued to existing share holders (at market rates) to raise extra capital without the need for a new share issue, the motion was submitted by 'Brian' at the last AGM and was voted in by the shareholders. Something like that anyway. Aye Tedi, but 'why'? He could just have bought them then without the need for diluting the existing shareholders. There has to be a sweetener, bogof etc. Edit to add, Aye I get that if issued by the Company, they get the dosh as opposed to the Market ................. but there has to be a sweetener. Edited July 1, 2014 by Bing (2) 0 Quote Link to comment Share on other sites More sharing options...
Funky Nosejob Posted July 1, 2014 Share Posted July 1, 2014 The New Ordinary Shares are being issued pursuant to an exercise of the options granted to Brian Stockbridge The shares are the sweetener. He'll be getting them at a discount. 0 Quote Link to comment Share on other sites More sharing options...
The DA Posted July 1, 2014 Share Posted July 1, 2014 The shares are the sweetener. He'll be getting them at a discount. Someone mentioned a few weeks back that whoever owned 70% of the shares got to call the shots. Do the new shares take him and his buddies up to that level? 0 Quote Link to comment Share on other sites More sharing options...
Bing (2) Posted July 1, 2014 Share Posted July 1, 2014 Someone mentioned a few weeks back that whoever owned 70% of the shares got to call the shots. Do the new shares take him and his buddies up to that level? Feck no. This just slightly dilutes the other shareholders % 714,000 out of almost 66,000,000 is what? 0.8 of a % at a guess..... 0 Quote Link to comment Share on other sites More sharing options...
The DA Posted July 1, 2014 Share Posted July 1, 2014 Feck no. This just slightly dilutes the other shareholders % 714,000 out of almost 66,000,000 is what? 0.8 of a % at a guess..... But is he not in cahoots with other big shareholders? Does this tip their overall holding over the 70%. 0 Quote Link to comment Share on other sites More sharing options...
Bing (2) Posted July 1, 2014 Share Posted July 1, 2014 But is he not in cahoots with other big shareholders? Does this tip their overall holding over the 70%. Cahoots? Employ................ Remember when he appeared? More international distraction appears just a day after it was revealed that Brian Stockbridge -- only a few weeks after being hired by Zeus Capital -- was sent to Glasgow and put up in a house in Bearsden in early March. That was two weeks before even the first deadline for RFC PLC RIP bidders had elapsed. Stockbridge immediately set up an investment firm in his own name and registered it to the Bearsden address. Soon afterwards prospective bidders (including the Blue Knights) were engaged by "representatives" from Ticketus in discussions about joint takeover bids. In early May Ticketus announced they were stepping back from dealing with potential bids. Days later it emerged that Charles Green (hired by Ahmad and Stockbridge) was not only a bidder, he had secured a takeover no matter what happened. Ignore the distractions . . . Ticketus is the story. 0 Quote Link to comment Share on other sites More sharing options...
Raidernation Posted July 1, 2014 Share Posted July 1, 2014 Feck no. This just slightly dilutes the other shareholders % 714,000 out of almost 66,000,000 is what? 0.8 of a % at a guess..... Considering 1% would be 660,000 I think you'll mind you're arithmetic is incorrect -1 Quote Link to comment Share on other sites More sharing options...
Bing (2) Posted July 1, 2014 Share Posted July 1, 2014 Considering 1% would be 660,000 I think you'll mind you're arithmetic is incorrect Nah, my guess was 0 Quote Link to comment Share on other sites More sharing options...
The DA Posted July 2, 2014 Share Posted July 2, 2014 When Stockbridge exercises his share option (714,000 at 1p, £7K), does he actually just pay 1p per share or does he pay the current market price (£214K)? Or does he pay the share price at the time the option was originally agreed? I assume it's the former but there's so much smoke-and-mirrors that it's hard to tell. If it's the 30p, is this to ensure there's enough money in the bank to pay off the Letham loan? Will I have to pay for any financial advice provided in reply? 0 Quote Link to comment Share on other sites More sharing options...
aDONisSheep Posted July 2, 2014 Share Posted July 2, 2014 For the avoidance of doubt, here's a quick guide on what an 'option' is. Options are rights (but not an obligation) to buy shares at some point in the future. Options quantities and transaction prices are determined in advance (i.e. when the option is issued). Usually they take one of two forms. 1) to buy at a pre-determined rate/price or 2) to buy at a discounted rate/price (from market value). Each individuals option won't have been approved at an AGM, but the principle will have been agreed at formation or at an AGM. Yours aDONis 0 Quote Link to comment Share on other sites More sharing options...
The DA Posted July 2, 2014 Share Posted July 2, 2014 So, without knowing the details of his options deal, we can't be sure what price he is paying and, therefore, how much money is going into the company's bank account? 0 Quote Link to comment Share on other sites More sharing options...
Bing (2) Posted July 2, 2014 Share Posted July 2, 2014 So, without knowing the details of his options deal, we can't be sure what price he is paying and, therefore, how much money is going into the company's bank account? Should find out on the 7th when they are released. 0 Quote Link to comment Share on other sites More sharing options...
Funky Nosejob Posted July 2, 2014 Share Posted July 2, 2014 (edited) From BBC Gossip Column... Former Rangers director Brian Stockbridge earned £200,000 from taking up his remaining share option yesterday and now owns 1.1% of the Ibrox club. (Daily Mail) So if there have been 714,285 new shares issued to meet his options, that would be a profit of exactly 28p per share. The bid (selling) price this week has been 29p per share, suggesting that he paid 1p per share. ETA This assumes he immediately sold the shares. If the mail's increased holding is to be believed, he must have held them suggesting that his "earnings" are money saved on purchase, indicating 28p below the offer price of 32p Edited July 2, 2014 by Funky Nosejob 0 Quote Link to comment Share on other sites More sharing options...
shiltrum Posted July 2, 2014 Share Posted July 2, 2014 The shares are the sweetener. He'll be getting them at a discount. It's normal for options to be offered approx 20% below the market value. 0 Quote Link to comment Share on other sites More sharing options...
Bing (2) Posted July 2, 2014 Share Posted July 2, 2014 From BBC Gossip Column... So if there have been 714,285 new shares issued to meet his options, that would be a profit of exactly 28p per share. The bid (selling) price this week has been 29p per share, suggesting that he paid 1p per share. ETA This assumes he immediately sold the shares. If the mail's increased holding is to be believed, he must have held them suggesting that his "earnings" are money saved on purchase, indicating 28p below the offer price of 32p As the shares have not yet been issued, how can he have made £200,000 ? Shares will become effective and that dealings will commence at 8.00 a.m. on 7 July 2014. Anyone trying to shift that amount would be lucky to get 20p per share ffs, and nobody can say what price was paid as we do not no what was in his contract. 0 Quote Link to comment Share on other sites More sharing options...
The DA Posted July 3, 2014 Share Posted July 3, 2014 It's only a rumour at the moment (from you-know-who) but if the auditors really are saying that ST cash is off-limits until Rangers come up with a workable business plan, what will this mean for them between now and the first match of the season? Will they pay the bills in July? I know there are a dozen obvious questions ("Can Deloittes really insist, even via Rangers' NOMAD?", "If they won't sign off on the accounts if Rangers ignore them, so what?" etc.) but let's go with the mental experiment. Could this also explain why the loans haven't been repaid? 0 Quote Link to comment Share on other sites More sharing options...
sjc Posted July 3, 2014 Share Posted July 3, 2014 Perhaps they're printing their own money now....... 0 Quote Link to comment Share on other sites More sharing options...
~~~ Posted July 3, 2014 Share Posted July 3, 2014 Since things have slowed down a bit recently. Enjoy a copy of Charlie Green Sevco contract http://www.scribd.com/mobile/doc/232359336 0 Quote Link to comment Share on other sites More sharing options...
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