cyderspaceman Posted January 16, 2014 Share Posted January 16, 2014 I followed dave.j's link and found this concerning Damille Inv. "The target investments were funds with market caps below £100million. These would be encouraged to “optimise their balance sheets” and “align management and shareholder interests”.The plan was to make declarable holdings (above 3%) in these stocks and, differentiating themselves from similar funds, they could acquire controlling stakes – a benefit of listing on the SFM. This also allowed them boost their firepower by making investments through special purpose vehicles which could be up to 100% leveraged. The fund itself is permitted to gear up to 15%. To date they have returned 48p per share and the NAV is around 62p per share so they have made money for shareholders but they are a little behind their performance fee target. The shares are trading around asset value." I have abridged it for convenience but the way I interpret it ( ok, I'm not an expert ) is that Damille wants a return over a 2-4 year period, maybe longer, and I can only see that coming from property deals. N.B. the phrase in bold. They also want to lean on the management to do the 'right thing'. Link to comment Share on other sites More sharing options...
phasma ex machina Posted January 16, 2014 Share Posted January 16, 2014 Looks like Mr Green has a new string to his bow. As a scriptwriter for the new mob in town Link to comment Share on other sites More sharing options...
weirdcal Posted January 16, 2014 Share Posted January 16, 2014 Looks like Mr Green has a new string to his bow. As a scriptwriter for the new mob in town champagne cause they own 3% of a company that's haemorrhaging money ? Did I miss the part where end of the world was announced and that people are going daft with money (and Moët) ? Link to comment Share on other sites More sharing options...
Jambomo Posted January 16, 2014 Share Posted January 16, 2014 European league??? They must think the Rangers fans are even stupider than they look. Link to comment Share on other sites More sharing options...
BossHogg Posted January 16, 2014 Share Posted January 16, 2014 Looks like Mr Green has a new string to his bow. As a scriptwriter for the new mob in town History, history history, back were we belong, Euro leaugue,,,,all sound so familiar. Link to comment Share on other sites More sharing options...
bennett Posted January 16, 2014 Share Posted January 16, 2014 European league??? They must think the Rangers fans are even stupider than they look. A piss take, a spoof....? Link to comment Share on other sites More sharing options...
stonedsailor Posted January 16, 2014 Share Posted January 16, 2014 History, history history, back were we belong, Euro leaugue,,,,all sound so familiar. Yes and the results will be the same. Rangers fans will be pennyless again. Eat sleep con repeat, eat sleep con repeat. Link to comment Share on other sites More sharing options...
phasma ex machina Posted January 16, 2014 Share Posted January 16, 2014 2.2 million traded at 20.5p on Tuesday lol Link to comment Share on other sites More sharing options...
cyderspaceman Posted January 16, 2014 Share Posted January 16, 2014 2.2 million traded at 20.5p on Tuesday lollse.jpg Here, I'm a tad confused. Do we now have 2 investment companies involved? Or 3 if you include Laxey. This guy Buxton isn't associated with Damille. Link to comment Share on other sites More sharing options...
phasma ex machina Posted January 16, 2014 Share Posted January 16, 2014 Here, I'm a tad confused. Do we now have 2 investment companies involved? Or 3 if you include Laxey. This guy Buxton isn't associated with Damille. http://forum.rangersmedia.co.uk/index.php?showtopic=263863&st=200&p=1061665476entry1061665476 post 218 onwards........ take it the pic with the links from Zeus selling to Zeus buying re the shares was posted yesterday? Cannae find it now Link to comment Share on other sites More sharing options...
cyderspaceman Posted January 19, 2014 Share Posted January 19, 2014 Here is someone's view from a stocks and shares site. Not sure the interims will hold much information. The FD has already said there's only going to be £1m left in April and although he's completely incompetent, I'm sure even he can work out the monthly outgoings and deduct that from the current account balance. Given the CEO is only now taking over the FDs role and the company has finally begun looking at where cuts can be made, I don't see much value in the interims to be honest. Re the Sale & Leaseback and Craig Whyte, well this is the elephant in the room isn't it? As far as I can tell, the facts are these: Lloyds held the keys and title deeds as collateral for the massive overdraft. Whyte borrowed around £18m from Ticketus in return for his "personal guarantee" that he'll pay it back using the money he receives from future season ticket sales. Whyte pays off the Lloyds overdraft, and is given the keys and title deeds. So far, so good. Now it gets interesting though. Given that Whyte had provided Ticketus his "personal guarantee" that he'd repay Ticketus, as opposed to an agreement with the company, we need to think whether Whyte would hold the floating charge in his personal name or the company's. Would you let yourself be liable for a massive debt and then give an asset which could cover it to someone else for just £2? Of course, we also have the secretly recorded phone calls in which Green says to Whyte "You are Sevco, that's what we're saying" so it could be that Whyte trusted his front man with his only assets, only to see himself shafted when Green transferred the assets from Sevco 5088 to Sevco Scotland. I believe Police Scotland are still investigating claims of fraud, and it would be interesting to see what the SFA would do in the event that conclusive evidence appears that proves Whyte was a Director of Sevco 5088 given the 5WA stated he could have no involvement whatsoever. All of this is in addition to the fact that the liquidators of Oldco could still decide that the £5.5m valuation for the stadium, car park, Murray Park, player's contracts etc was incorrect and then go after the difference. Given the stadium was valued at around £4.5m, that means EVERYTHING else had a combined valued of £1m. In my opinion, BDO have a very strong case for pursuing gratuitous alienation. Remember, if that were to happen, it's not up to BDO to prove its case, it's up to D&P to prove the value was accurate. I've heard the car park alone is worth around £2-3m so it would be extremely difficult to prove the £5.5m figure was fair to Oldco's creditors. You've said "any uncertainty" could scare away investors but that doesn't seem to be the case. We've got Ticketus pursuing Whyte, we've got Whyte claiming he still owns the assets, we've got Police Scotland investigating potential fraud, we've got secret agreements with the SFA, we've got the potential the liquidators to come back asking for more. I really can't see the 'gratuitous alienation' angle being pursued but it's a possibility. Link to comment Share on other sites More sharing options...
phasma ex machina Posted January 19, 2014 Share Posted January 19, 2014 I am sure the car park was sold after the event, was not included in the original £5.5M, was it not also independently valued at £1.5M, ah well just £1.5M out then. It was sold after the ''event'' , was needed to keep the Club Deck open if I mind right, so had to be bought. Link to comment Share on other sites More sharing options...
phasma ex machina Posted January 19, 2014 Share Posted January 19, 2014 Well it is always packed, god knows why, worst place in the world to park, I actually think the subway loyal are actually the daft buggers who use that car park. God knows where the income goes though, probably tied up in some operating contract with one of the spivs, the club will get about 10p for every car or something. If even 10p. Is Chucky still involved in the Security firm or has he left? Cannae mind seeing anything on the breenge of ''rangers'' companies and their directors for a while. Link to comment Share on other sites More sharing options...
timmy Posted January 19, 2014 Share Posted January 19, 2014 Here is someone's view from a stocks and shares site. I really can't see the 'gratuitous alienation' angle being pursued but it's a possibility. The administrators ripped up whyte's floating charge stating he didn't use his own money for the purchase. Link to comment Share on other sites More sharing options...
cyderspaceman Posted January 19, 2014 Share Posted January 19, 2014 The administrators ripped up whyte's floating charge stating he didn't use his own money for the purchase. Thanks for that timmy. I really can't be arsed investigating every claim and counter claim from back in the day. Some might conclude I was OBSESSED. Link to comment Share on other sites More sharing options...
Fotbawmad Posted January 21, 2014 Share Posted January 21, 2014 TBF, putting your money into a puggy is a better investment than The Rangers Link to comment Share on other sites More sharing options...
cyderspaceman Posted January 21, 2014 Share Posted January 21, 2014 TBF, putting your money into a puggy is a better investment than The Rangers I no longer agree with this*. There are three two investment companies now involved (that we know of) and they will be looking for a return. I think property sale will happen. Anyone investing now COULD possibly double (?) their money and get out, leaving the early investors still nursing a loss. * Remember, the Club and the Company are separate. This is going to come back and bite them on the arse. edit to correct my error Link to comment Share on other sites More sharing options...
cyderspaceman Posted January 21, 2014 Share Posted January 21, 2014 The Richard Buxton / Old Mutual thing was a hoax. You can't trust anyone these days. Link to comment Share on other sites More sharing options...
phasma ex machina Posted January 21, 2014 Share Posted January 21, 2014 The Richard Buxton / Old Mutual thing was a hoax. You can't trust anyone these days. Link to comment Share on other sites More sharing options...
cyderspaceman Posted January 22, 2014 Share Posted January 22, 2014 Just to be clear. I was referring to Twitter Twats. Link to comment Share on other sites More sharing options...
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