hellbhoy Posted September 12, 2014 Share Posted September 12, 2014 £3.13 million ? How much of that cash will be chewed up by floating the issue and tax ?, anyone hazard a guess at how much less than the £3.13 million quoted by the club ?, how much will actually go into the coffers of the club or is this one final chew from the cash cows trough before admin sets in ? Also worth noting that the institutional investors shares will now be diluted giving the spivs that little bit more say or control in voting rights. 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted September 12, 2014 Share Posted September 12, 2014 The share issue has gone and the clubs share price has fallen on the stock market ??? 0 Quote Link to comment Share on other sites More sharing options...
Sergeant Wilson Posted September 12, 2014 Share Posted September 12, 2014 Should Winnie the Pooh be banned? 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted September 12, 2014 Share Posted September 12, 2014 "Rangers said that if the minimum level of £3m was raised from the share issue". I'm assuming, of course, that you stumped up the extra £0.3M from your own funds, just to keep this fiasco a going concern? All looks a bit fishy to me. Something deffo fishy going on as a cut from the gross amount will be taken from that amount and begs the question how much will actually be going into the clubs coffers. Remember Chuckies initial IPO where over 20% of the IPO disappeared ?, will the same happen here ? The spivs have a plan and we all want to know what it is including the bears. 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted September 12, 2014 Share Posted September 12, 2014 I thought this share issue was dead in the water? Dhense must be fucking gutted that Phil has let him down yet again. Before you tug yer tadger into a fury Tedi, the plan was to get the fans to plough £4 million into the club and the spivs have had to cover their arses by underwriting the required amount to get by, WHY ? Why just get the minimum of shares required to claim they got all they needed, how much did the fans part with is most likely the relevant question here ? Have the spivs & institutional investors under estimated the fans loyalty to the club and had to part with their own cash to shore up the crumbling walls to give the illusion that things are just pretty at the club and the underwriting is a smoke screen. How much did the fans part with ?, remember they are the mugs the spivs want to fleece. 0 Quote Link to comment Share on other sites More sharing options...
timmalloy1888 Posted September 12, 2014 Share Posted September 12, 2014 I really don't care anymore.I thought I'd be disappointed if it went through, but in truth it's had no impact. 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted September 12, 2014 Share Posted September 12, 2014 I really don't care anymore.I thought I'd be disappointed if it went through, but in truth it's had no impact. Good things come to those who wait and the longer you wait the better it feels. 0 Quote Link to comment Share on other sites More sharing options...
Monkey Tennis Posted September 12, 2014 Share Posted September 12, 2014 (edited) Right then, what does this mean? Obviously, the £3m threshold has been reached narrowly, but the fact that directors helped get it there, is being seen by some as significant. I'm utterly clueless about this stuff, among much else, so can someone who isn't, explain what it really means please, looking ahead. And guys, we might get some visitors to the thread on the back of this. Can we please all behave ourselves. The 'debate' about the acceptability or otherwise of certain terms has been simply agonising to read. Best behaviour please. Edited September 12, 2014 by Monkey Tennis 0 Quote Link to comment Share on other sites More sharing options...
Sergeant Wilson Posted September 12, 2014 Share Posted September 12, 2014 This covers them to November at best ... what then? They've asked for money for their Christmas this year. 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted September 12, 2014 Share Posted September 12, 2014 Merciless / KDS 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted September 12, 2014 Share Posted September 12, 2014 It was the spivs alone that have pumped in the majority .. no institutional investor has touched it with a barge pole. Poor Tedi ... he thinks I'm gutted because the spivs have a stranglehold ... what does he imagine will happen next ? Do enlighten us Tedi .. HB please quote so the fud has no excuse to avoid giving us the benefit of his wisdom. The spivs have underwritten around 80K by my calculations and just for tedi, 400,000 shares at 20p each comes to around 80K. So the question is did the fans part with just under £3 million or has there been some institutional investors buying of shares ? It is quite possible the fans did pony up just under £3 million but I think personally it's highly doubtful. I personally think the first move from the spivs was to get the fans to cough up first and if failing that then the institutional investors to help underwrite and the BoD then ponies up the rest to make meet the required amount. The spivs are protecting their interests in the club and obviously they intended the fans to cough up the £4 million from them first, so my main question is how much did the fans cough up ? Last thought here is did the fans associations buy up a fair wedge of shares to try and gain more control of the club in their quest to oust the BoD at some point ?, 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted September 12, 2014 Share Posted September 12, 2014 (edited) Right then, what does this mean? Obviously, the £3m threshold has been reached narrowly, but the fact that directors helped get it there, is being seen by some as significant. I'm utterly clueless about this stuff, among much else, so can someone who isn't, explain what it really means please, looking ahead. (This was purloined from 'elsewhere.') Soooo..... The share issue raised £2.63 million at first. This is approx. 65% of total. If we assume no over subscription, then 2/3 of shareholders weighed in. Then the Easedales kicked in their £500k. If we assume that the repayment of their loan was to happen as part of the funding, a full subscription would have left Sevco with approx. £2.3 million extra cash to see them through to agm. As it is, assuming Letham gets his million, they have around £1.4 million extra cash (Letham' due a bigger vig for waiting). Again, assuming Oor Imran got £300k, Sevco can probably meet Sept and Oct payroll but there is no wriggle room at all.... So if Wallace is actually 'on gardening leave' and is due up to £800k in settlement.... We may see another thrilling instalment of 'Ringfence Alley' on our screens soon..... Dum Dum Dum! In all seriousness, who took the shares is gonna be the biggest hint to how this is gonna end..... Let's see what happens if a certain cabal ends up controlling over 75%....it's a pretty magic number in admin terms. And given Sevco has only one creditor, RIFC Ltd., who would control a CVA again? Edited September 12, 2014 by Florentine_Pogen 0 Quote Link to comment Share on other sites More sharing options...
The DA Posted September 12, 2014 Share Posted September 12, 2014 Should Winnie the Pooh be banned? Please, no. I couldn't bear it. 0 Quote Link to comment Share on other sites More sharing options...
Johnstoun Posted September 12, 2014 Share Posted September 12, 2014 I presume these were shares in RIFC and TRFC will be loaned (some of) the proceeds? They owe RIFC more than RFC owed the bank pre-Whyte... 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted September 12, 2014 Share Posted September 12, 2014 I presume these were shares in RIFC and TRFC will be loaned (some of) the proceeds? They owe RIFC more than RFC owed the bank pre-Whyte... The fans bought shares in the initial IPO that were exchange for shares in the club "RFC Ltd", that's part of the major con there as the fans don't have shares in the holding company. Although fans have a say in the club they don't have a say in the holding companies shenanigans who own the club. The spivs on the other hand if I have this correctly have shares in both the PLC & the club ???, but the fans only have shares in the club. Isn't it ironic the fans probably bought shares to service the club but then the club will owe the holding PLC the money they helped raise which the spivs own ??? So essentially the fans have chucked money at the spivs to help the club but this money from the fans will have to be paid back to the spivs at some point placing the club into more debt even though the fans ploughed cash into the club. Fucking mental I know ffs So once again the club has been placed into more debt through the holding companies share issue although the spivs said it was for the club but the money has to come through the holding PLC as a loan to the club and the fans get stiffed by purchasing more shares into the club and not the PLC holding company. 0 Quote Link to comment Share on other sites More sharing options...
cyderspaceman Posted September 12, 2014 Share Posted September 12, 2014 Please, no. I couldn't bear it. Hunny! 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted September 12, 2014 Share Posted September 12, 2014 that sounds complicated but understandable ETA: thank fook we had Fergus McCann All hail the bunnet. 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted September 12, 2014 Share Posted September 12, 2014 No idea what all this means tbh. Bad news for the bears though no doubt. 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted September 12, 2014 Share Posted September 12, 2014 No idea what all this means tbh. Bad news for the bears though no doubt. Aye their misery before being put out of it will endure a while longer. 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted September 12, 2014 Share Posted September 12, 2014 God help them die a dignified death this time Noo come on you Larry ffs, do not offer them even the slightest glimpse of hope. They think that God is on their side an all that pish, so why has the devil incarnate taken over the Big Seat in Ra Big Hoose ? atonement for all their sins perhaps ? Obviously in keeping in line with the diddy mentality as No8 likes to call them, ma clubs next !!! 0 Quote Link to comment Share on other sites More sharing options...
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