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Big Rangers Administration/Liquidation Thread - All chat here!


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The 714,285 shares that he has exercised his option over is the equivalent to the 2.5 times his 200k salary at the float price of 70p. The price to be paid for these are not disclosed nor are the details provided in the annual accounts (Oops auditors!!!) for the holding of this option.

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Regards Stockbridge's shares, I read elsewhere that they were contractually obliged to him and based on the "% of his salary bonus".

The bonus was £500k, and the share price it was based on was the 70p Rights Issue price. He received them for nada, though technically he will have paid the 1p nominal value per share.

Edited by Ross.
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Regards Stockbridge's shares, I read elsewhere that they were contractually obliged to him and based on the "% of his salary bonus".

The bonus was £500k, and the share price it was based on was the 70p Rights Issue price. He received them for nada, though technically he will have paid the 1p nominal value per share.

Not correct. It was based on 2.5x salary. His bonus was 100% of salary (£200k)

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BREAKING NEWS: I was just stopped for directions (kind of, he couldn't find his way out of the carpark) in a car park in Glasgow by one time BRALT celebrity Campbell Ogilvie.

Unfortunately I couldn't come up with a witty and abusive response quickly enough so just politely directed him on his way.

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I thought Stockbridge gave up his bonus?

This was also noted from the IPO 'Mr Stockbridge is also entitled to a non-contractual bonus of 100 per cent. gross salary if the Club wins promotion from the

SFL'

When did we get promoted from the SFL? :unsure2:

It went on though....... ''to a higher division or different League'' or such iirc...............

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kings gone, nobody cares. :lol:

now can we get on with the journey back up to the pinnacle of scottish football and regular champions league football?.

This would suggest the club you now support has been at the "pinnacle" in the past. When you consider that The Rangers are a completely new football club, this would be impossible.

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isn't the The Rangers pinnacle reaching the Ramsden's Cup Final and narrowly going down to a club in a higher division?

Na, its getting that massive 1-1 draw with brora rangers today.

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its inevitable, accept it!!

You can't go back to where you've never been, look it up in a dictionary (preferably not one of the new ones where the word "gullible" has been removed)

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A late statement........

Statement re: Annual results for the 13 month period ended 30 June 2013

The Directors confirm that following the issue of shares announced on 1 July 2014 pursuant to the exercise of options by a former Director, there are now no outstanding share options or convertible shares held within the Group. The Directors note that Note 30 to the accounts for the 13 month period ended 30 June 2013 was incorrect to the extent that the options to which the share announcement on 1 July 2014 relate were not included.


I wonder what else in the accounts was ''incorrect''...........

Edited by Bing (2)
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http://www.scotzine.com/2014/07/rangers-fan-group-disband-failed-dave-king-ticket-fund/

The fund set up by Rangers fans group Union of Fans in conjunction with South African businessman Dave King and former Rangers defender Richard Gough is to be disbanded after the Ibrox club’s board refused to bow down to the group’s attempts to ‘try to get security over Ibrox’.

Just two months after launching the 1972 fund in a blaze of publicity, the fans group behind the scheme to starve the Ibrox club of season ticket money has called time on it as it failed to meet its objective of forcing the board into handing over Ibrox and Murray Park as security.

The plan for the fund was to release the season ticket money to the board if the directors ‘provided legally binding undertakings that Ibrox and Murray Park would not be used for security against borrowings’.

While the launch of the fund hit the headlines, it seems the publicity surrounding the fund’s demise is limited with the Union of Fans own website.

In a short statement issued to the BBC, a group’s spokesperson said: “Despite repeated attempts to engage with Graham Wallace and the board over the issue of a binding legal commitment not to sell or lease back Ibrox or Murray Park, we have been unable to come to any agreement.

“It seems the board are happy to continue to alienate the thousands of fans who have supported our efforts through the Ibrox 1972 fund.

“We are left with no option but to release all those who have supported the fund from their binding financial commitment. We urge fans not to give their money to this regime in a lump sum payment via season tickets and to support the team on a game-by-game basis.”

There has been no statement from messrs Dave King and Richard Gough on the demise of the scheme set up, with the South African businessman disappearing from the scene over a month ago as their ‘scheme’ faltered and was rejected by the board.

Despite the fund’s closure, the Sons of Struth have called for another march to Ibrox, in a last-ditch attempt to force the club’s hand.

In a statement issued via the group’s website, it read: “Our founders worked hard for 17 years until they eventually purchased our first owned home after years as a nomadic team. The final step in this journey was from Kinning Park to Ibrox and we are marching the same route to highlight how important owning our own ground is We believe the stadium to be of the utmost importance and to preserve it in the club’s name.

“This march isn’t just for SoS supporters it’s for all who believe in safeguarding Ibrox for us and future generations of fans. We will have banners etc but would encourage fans groups and RSC to bring their own flags and bus crests etc to show this issue is important to the wider fan base. We want the board to issue legal assurances as this shouldn’t be hard to do to back up their claims.

“Three directors have already agreed this can be done so why wont they? There are many reasons we wish this to be done and one main reason is due to the split in the boardroom, these directors may not last long or bring in another director who decides he wants to raise capital by using Ibrox.

“A simple legal assurance isn’t much to ask in return for a bit of faith and trust in this board. Their refusal to do something they have agreed can be done begs more questions than answers.”

It is highly unlikely that another protest march will achieve anything, especially since withholding money failed to force the club’s hand.

Edited by K Dodd
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