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2 minutes ago, TavTastic said:

Yeah, he's the Chairman.

Wasn't sure if he had stepped down or not. FCA statement is unambiguous in stating that the Cold Shoulder relates to him and not Rangers, so exactly what effect it will have is unclear at this point. I don't think he does any other business in the UK anyway. The only thing I can see it affecting is his ability to loan them money and convert it to shares, but I don't think he done that the last time anyway?

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1 minute ago, Ross. said:

Wasn't sure if he had stepped down or not. FCA statement is unambiguous in stating that the Cold Shoulder relates to him and not Rangers, so exactly what effect it will have is unclear at this point. I don't think he does any other business in the UK anyway. The only thing I can see it affecting is his ability to loan them money and convert it to shares, but I don't think he done that the last time anyway?

I'm not entirely sure on that. There were about £7m of loans converted to shares recently but I think none were King's.

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12 minutes ago, Romeo said:

Been called a liar again.

Very rangers.

If there is one sure-fire way to bring the Shettleston Second Placers back to the Rangers thread it's discussing financial court cases.

Edited by TavTastic
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2 hours ago, Ross. said:

Dave King cold shouldered by the FCA. Is he still on the board at Rangers? Never seen this done before so will be interesting to see exactly how the FCA impose it.

"In terms of its practical impact, the ruling of the Hearings Committee does not impact upon my personal or business activities – including RIFC. It applies solely to dealings in companies that are or are to be listed on the UK exchanges. "

My investment was motivated – to quote the Hearings Committee – “solely for the love of the club.”

RIFC and Rangers Football Club are not affected by the Hearings Committee’s ruling and the ruling does not impact upon my position as Chairman and a director of RIFC. I have ensured that RIFC has complied with the requirements of the Code throughout the period of my Chairmanship, notwithstanding that the Company is no longer listed. RIFC will continue to comply with the Code. The Takeover Panel has raised no concerns about RIFC’s compliance with the Code in the more than four and a half years since regime change.

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2 hours ago, Ross. said:

Wasn't sure if he had stepped down or not. FCA statement is unambiguous in stating that the Cold Shoulder relates to him and not Rangers, so exactly what effect it will have is unclear at this point. I don't think he does any other business in the UK anyway. The only thing I can see it affecting is his ability to loan them money and convert it to shares, but I don't think he done that the last time anyway?

"In terms of its practical impact, the ruling of the Hearings Committee does not impact upon my personal or business activities – including RIFC. It applies solely to dealings in companies that are or are to be listed on the UK exchanges For that reason alone I decided – even though I consider I have strong grounds for appeal – not to appeal this ruling. This now allows myself, RIFC and its shareholders to draw a line under this long and much protracted saga. "

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1 minute ago, robbie1872 said:

This now allows myself, RIFC and its shareholders to draw a line under this long and much protracted saga.

But it does mean there is no possibility of the club re-listing on the stock exchange, for at least the next 4 years if King is still involved.

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5 minutes ago, TavTastic said:

Does it really? Nothing about that in the public forum so far.

I'll be honest, that one I read on a tweet from someone who is generally spot on with financial stuff but I haven't checked it myself.

On the face of it, absolutely nothing of any substance has happened here. Seems a pointless punishment that has been given out simply because the FCA have been made to look powerless over the whole period. The costs involved in it all are the only real negative for King.

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