The_Kincardine Posted September 29, 2014 Share Posted September 29, 2014 (edited) From tomorrow’s Telegraph (Grahame Ewing) Rangers could face more expensive litigation now that the Worthington Group, the investment company which announced to the Stock Exchange last year that it was staking a legal claim to ownership of the business and assets of the club, has made a remarkable recovery. In April 2013 the group revealed that it would be pursuing the holding company, Rangers International Football Club, through the courts, insisting that Sevco 5088, the company formed by the discredited former Rangers owner Craig Whyte, had been awarded the sole rights to buy the club by the administrators Duff and Phelps. Instead, it was Sevco Scotland, fronted by the equally controversial Charles Green, which ended up in charge, with the former Rangers chief executive publicly admitting last year that he had lied to Whyte to gain control of the new club in the summer of 2012. As a result, the Worthington Group reported Green to the Serious Fraud Office. But its legal action appeared to have been abandoned when the Financial Conduct Authority suspended trading in its shares – then worth just 4p – at the Worthington Group’s request on Aug 1, 2013. However, since that ban was lifted four weeks ago, its share price has soared to £198.50 and yesterday it announced the acquisition of assorted digital media investments. With the improvement in the company’s financial health, it is now in a position to progress the challenge regarding its right to own the Championship challengers. That began last year when the Worthington Group bought a 26 per cent holding in Law Financial Holding Ltd, a company belonging to Whyte who, in turn, is believed to own a 7.54 per cent stake in Worthington. Sevco 5088 is one of the subsidiary companies owned by Law Financial. With a current market value of around £25 million, Worthington is worth around £10 million more than Rangers, who are struggling to raise the money to pay their bills. The Worthington Group did not return calls on Monday, but appear as if they are not walking away. http://www.telegraph.co.uk/sport/football/teams/rangers/11129371/Rangers-facing-new-legal-threat-as-Worthington-Group-recovers.html Tell me in two sentences why this is either interesting or informative without using words like 'maybe' or 'possibly'. If you can't then you're just another diddy poster thinking that shite articles about The Rangers are worth referring to. Edited September 30, 2014 by The_Kincardine 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted September 30, 2014 Share Posted September 30, 2014 Tell me in two sentences why this is either interesting or informative without using words like 'maybe' or 'possibly'. If you can't then you're just another diddy poster thinking that shite articles about The Rangers are worth referring to. Don't think you're in a position to label anyone else a diddy poster, champ: given your chumps just got drubbed at home by the worst Hibs side in living memory. Gutted for you. 0 Quote Link to comment Share on other sites More sharing options...
aofjays Posted September 30, 2014 Share Posted September 30, 2014 Tell me in two sentences why this is either interesting or informative without using words like 'maybe' or 'possibly'. If you can't then you're just another diddy poster thinking that shite articles about The Rangers are worth referring to. Someone shit in your cornflakes? -1 Quote Link to comment Share on other sites More sharing options...
dave.j Posted September 30, 2014 Share Posted September 30, 2014 Tell me in two sentences why this is either interesting or informative without using words like 'maybe' or 'possibly'. If you can't then you're just another diddy poster thinking that shite articles about The Rangers are worth referring to. Can we use, potentially, might, could or may? It is informative, as it provided information that wasn't previously available, certainly not common knowledge. Added to the fact that it quite clearly adds to the hurt your feeling after a home defeat to the wee shitey green team from Edinburgh. Pleasing. 0 Quote Link to comment Share on other sites More sharing options...
Miguel Sanchez Posted September 30, 2014 Share Posted September 30, 2014 What sort of financial implications would there be if Rangers failed to get promoted this year? 0 Quote Link to comment Share on other sites More sharing options...
Jim Leighton Posted September 30, 2014 Share Posted September 30, 2014 What sort of financial implications would there be if Rangers failed to get promoted this year? Armageddon surely? 0 Quote Link to comment Share on other sites More sharing options...
shull Posted September 30, 2014 Share Posted September 30, 2014 What sort of financial implications would there be if Rangers failed to get promoted this year? I wid struggle to raise money to replace aw my pished troosers. THE BLUE PUKE F.C. -1 Quote Link to comment Share on other sites More sharing options...
cyderspaceman Posted September 30, 2014 Share Posted September 30, 2014 Can we use, potentially, might, could or may? It is informative, as it provided information that wasn't previously available, certainly not common knowledge. Added to the fact that it quite clearly adds to the hurt your feeling after a home defeat to the wee shitey green team from Edinburgh. Pleasing. I was aware of the jump in WRN share price from 4p to 40p. I did not believe it would rise like that again in the short term. Now 198.5p (not pounds) Didn't bet on Hibs either! 0 Quote Link to comment Share on other sites More sharing options...
dave.j Posted September 30, 2014 Share Posted September 30, 2014 I was aware of the jump in WRN share price from 4p to 40p. I did not believe it would rise like that again in the short term. Now 198.5p (not pounds) Didn't bet on Hibs either! The sort of rise in share price The Rangers fans who support a club ran by a company, can only dream of. 0 Quote Link to comment Share on other sites More sharing options...
Magoo9uk Posted September 30, 2014 Share Posted September 30, 2014 Doing what?Pandering to obsessives? 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted September 30, 2014 Share Posted September 30, 2014 I was aware of the jump in WRN share price from 4p to 40p. I did not believe it would rise like that again in the short term. Now 198.5p (not pounds) Didn't bet on Hibs either! Extreme pump and dump if you ask me. Something seriously dodgy with that price rise. 0 Quote Link to comment Share on other sites More sharing options...
Magoo9uk Posted September 30, 2014 Share Posted September 30, 2014 Who is?Mad Phil. 0 Quote Link to comment Share on other sites More sharing options...
topcat(The most tip top) Posted September 30, 2014 Share Posted September 30, 2014 Wouldn't it be Rangers' owners as opposed to Rangers itself that would face the cost of litigation. 0 Quote Link to comment Share on other sites More sharing options...
Macshimmy Posted September 30, 2014 Share Posted September 30, 2014 Tell me in two sentences why this is either interesting or informative without using words like 'maybe' or 'possibly'. If you can't then you're just another diddy poster thinking that shite articles about The Rangers are worth referring to. Can I play? In their CEO's statement to the LSE on relaunch in July, they state: "We also hope to be able to announce important progress in resolving the Company’s historic pension deficit before the end of the year." The Telegraph's most juicy piece of info though, is that a certain cowboy is on the horizon - as he still has an 8% stake in Worthington: 0 Quote Link to comment Share on other sites More sharing options...
Bing (2) Posted September 30, 2014 Share Posted September 30, 2014 Loans repaid.... Further to the announcement on 25 March 2014, the Company has repaid the secured short term credit facilities provided by Mr George Letham for the principal amount of £1 million plus interest (the "Letham Facility") and by Mr Alexander Easdale for the principal amount (interest free) of £500,000 (the "Easdale Facility"). Accordingly the security over Edmiston House and Albion car park properties has been released. Mr Letham retains the right to receive a premium payable on the Letham Facility of GBP 45,000 payable in cash on 23 February 2015 or at the option of Mr Letham, and subject to the Company having all necessary authority, in new ordinary shares of 1 p each in the Company at any time before 23 February 2015. 0 Quote Link to comment Share on other sites More sharing options...
HibeeJibee Posted September 30, 2014 Share Posted September 30, 2014 What sort of financial implications would there be if Rangers failed to get promoted this year? Armaggedon, slow lingering death, withering on the vine, and a nuclear winter, I'd imagine. And that's just the rest of us. 0 Quote Link to comment Share on other sites More sharing options...
Miguel Sanchez Posted September 30, 2014 Share Posted September 30, 2014 Armageddon surely? I wid struggle to raise money to replace aw my pished troosers. THE BLUE PUKE F.C. Armaggedon, slow lingering death, withering on the vine, and a nuclear winter, I'd imagine. And that's just the rest of us.Just checking. 0 Quote Link to comment Share on other sites More sharing options...
Macshimmy Posted September 30, 2014 Share Posted September 30, 2014 Big sell on the shares today - Somebody cut and ran before the accounts came out - and by the numbers, it's one of the institutional investors - Artemis, River, or Hargreave Hale: 0 Quote Link to comment Share on other sites More sharing options...
Hawk Posted September 30, 2014 Share Posted September 30, 2014 Big sell on the shares today - Somebody cut and ran before the accounts came out - and by the numbers, it's one of the institutional investors - Artemis, River, or Hargreave Hale: Wondered how last nights reasult would effect the share price. 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted September 30, 2014 Share Posted September 30, 2014 Extreme pump and dump if you ask me. Something seriously dodgy with that price rise. Aye. Deffo something very whiffy about that. Of course, pump n' dump is a favourite tactic of Dave 'I Live In Seth Efrika' King. Worthington Group are undoubtedly just the next shell company with links to Big Hauns of Chateau de Vert / Craig Whyte and errrrr.................possibly even Sir David of Murrayfield....?? The next chapter in "Sevco : The Death Of A Thousand Cuts" begins. Huzzah !!!! Byraway, @ The _Arsehole. His BP must be at life-threatening levels. 0 Quote Link to comment Share on other sites More sharing options...
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