bluto Posted January 3, 2015 Author Report Share Posted January 3, 2015 30% of shares in the club have been sold at knockdown prices in the last week to making King and the 3 Bears eligible to sink millions into the next share issue and that money will go into helping them stay afloat until the end of the season.But..... WHY? Why invest millions now when you could have had it for £1.00 not long ago? It takes millions to keep it afloat. MILLIONS to reach its current pinnacle of achievement. So how many millions more to get them back to their rightful place? There will be a liquidation. How proud must all good The Rangers men be feeling tonight? Quote Link to comment Share on other sites More sharing options...
saintargyll Posted January 3, 2015 Report Share Posted January 3, 2015 30% of shares in the club have been sold at knockdown prices in the last week to making King and the 3 Bears eligible to sink millions into the next share issue and that money will go into helping them stay afloat until the end of the season. 30% gives them the avenue to "sink" (oops) money into rankgers......but will they?...AND..if they do...how much? Quote Link to comment Share on other sites More sharing options...
shull Posted January 3, 2015 Report Share Posted January 3, 2015 30% gives them the avenue to "sink" (oops) money into rankgers......but will they?...AND..if they do...how much? And what will they spend it on ? Quote Link to comment Share on other sites More sharing options...
RickMcD Posted January 3, 2015 Report Share Posted January 3, 2015 What I don't get (amongst lots of other things, obviously) is why they are lining up to throw millions at zombie fc. If they just wanted a Scottish club then their millions could get them any other club in the country - and they wouldn't have bought a basket case. They are not "Rangers men" so it can't be for their love of the club. They also couldn't make money by running it as a football club. It must either be an ego trip or, hopefully, a property deal. It was interesting the other day reading the remarks of the senior partner of Laxey about selling the Sevco shares. He came up with some claptrap about wanting the shares to go to 'Good Rangers Men' (What the f**k are they?!) Laxey is a hedge fund which means that only very rich guys usually get involved. It's up market gambling for the super rich. I think Laxey have assumed that Rangers are a beaten docket as they say over here and they've just had enough and are swallowing their losses. You've got to know when to hold 'em, know when to fold them, know when to walk away, know when to run. Laxey ran like 'f**k. Quote Link to comment Share on other sites More sharing options...
Dibbles old paperboy Posted January 3, 2015 Report Share Posted January 3, 2015 But..... WHY? Why invest millions now when you could have had it for £1.00 not long ago? It takes millions to keep it afloat. MILLIONS to reach its current pinnacle of achievement. So how many millions more to get them back to their rightful place? There will be a liquidation. How proud must all good The Rangers men be feeling tonight? I'm hoping you are correct about a second imminent liquidation. However, it looks as if 30% of the shareholding was sold to the 3 Bears group and King with some prices as low as 1p per share, meaning that when the share issue comes round they still have most of the money they claim they want to spend left to invest, money which will go to the club to keep them afloat until the end of the season, and with King now the biggest individual shareholder, followed by the 3 Bears group it will be harder for the current board to ignore King and his friends. Did Easdale not have a proxy vote for the Laxey shares which were sold to the 3 Bears? Without following the story in too much detail it is beginning to look like KIng and similar minded wealthy fans have finally got themselves organised and maneuvered into a position where they can make life a lot more uncomfortable for the current board and folks like Ashley and Green. Quote Link to comment Share on other sites More sharing options...
bluto Posted January 3, 2015 Author Report Share Posted January 3, 2015 I'm hoping you are correct about a second imminent liquidation. However, it looks as if 30% of the shareholding was sold to the 3 Bears group and King with some prices as low as 1p per share, meaning that when the share issue comes round they still have most of the money they claim they want to spend left to invest, money which will go to the club to keep them afloat until the end of the season, and with King now the biggest individual shareholder, followed by the 3 Bears group it will be harder for the current board to ignore King and his friends. Did Easdale not have a proxy vote for the Laxey shares which were sold to the 3 Bears? Without following the story in too much detail it is beginning to look like KIng and similar minded wealthy fans have finally got themselves organised and maneuvered into a position where they can make life a lot more uncomfortable for the current board and folks like Ashley and Green. I think Easdale's proxy for Margharita and another unknown foreign entity. (Can't recall name at the mo...) Bears bought Laxey's share. If Laxey felt they couldn't stop MA, then how could the threebears (having bought the same holding) be any more powerful? MA's power resides in him having money to lend and has already lent money that he can demand back again. In a cash-strapped company - the power of liquidation. Which would also seem to me, to be the avenue best followed by 'real The Rangers men'. Apart from MA apparently no one else has such bottomless pockets. So much has been and will continue to be creamed off by the acknowledged Onerous Contracts. Liquidation and Third Rangers is the only way out of Onerous Contracts. but then... Who owns Ibrox and Murray Park? Will the wealthy 'real The Rangers men' ever be able to own those? Will they have to rent them? Who will pay for refurbishment and maintenance of Ibrox? Will there be enough to buy new players of good enough quality? Quote Link to comment Share on other sites More sharing options...
Dibbles old paperboy Posted January 3, 2015 Report Share Posted January 3, 2015 Surely it is all about posturing before the share issue and trying to pile pressure on an already unpopular board? With the SFA stepping in and saying Ashley can't increase his shareholding beyond 10% he can only buy so many shares this month and then offer a further loan on top of that contribution. Ashley also has the SFA hearing later this month as well. If I remember correctly the AGM decided the January share issue had to be offered to existing shareholders first to match their current holding and then any left unsold could be sold to new shareholders. Not sure that the Easdales for example have big enough pockets to match their current shareholding in the share issue and offer to lend the club more cash this year. If Ashley holds under 10% of the shares but can nominate up to 2 directors / board members then it becomes crazy-looking to deny King and the 3 Bears with 30% of the shares and also offering up to around £20million to the club (if you combine their two offers) places on the board or to refuse their offers of further cash when the club is broke and when it looks like there are viable alternative offers of funds other than Ashley, when Ashley is already unpopular and under investigation by the SFA? Quote Link to comment Share on other sites More sharing options...
Kemp Posted January 3, 2015 Report Share Posted January 3, 2015 What a parcel of scoundrels. I can't see them being liquidated again, sadly there seems to be long a line of fools willing to pay good money to get them back in the top league. Quote Link to comment Share on other sites More sharing options...
insaintee Posted January 3, 2015 Report Share Posted January 3, 2015 And what will they spend it on ? Sweeties Quote Link to comment Share on other sites More sharing options...
shull Posted January 3, 2015 Report Share Posted January 3, 2015 Sweeties Bon Bons ? They're nice. Quote Link to comment Share on other sites More sharing options...
bluto Posted January 3, 2015 Author Report Share Posted January 3, 2015 (edited) If Ashley holds under 10% of the shares but can nominate up to 2 directors / board members then it becomes crazy-looking to deny King and the 3 Bears with 30% of the shares and also offering up to around £20million to the club (if you combine their two offers) places on the board or to refuse their offers of further cash when the club is broke and when it looks like there are viable alternative offers of funds other than Ashley, when Ashley is already unpopular and under investigation by the SFA?I'm not at all sure what this paragraph is about....uKing is a convicted tax-avoiding criminal, who paid off millions to the SA authorities in order to avoid 46 years in jail. Also, he was a director of Rangers when they first got into trouble.... So he still has 2 years before he can be in such a similar position with any scottish Fitba club, if....BIG IF... THE SCOTTISH FITBA AUTHORITIES GAVE A TOSS ABOUT THEIR OWN RULES. (Which is one reason 'he' is buying shares at a distance via his family trust- NewOasis). Unless it has come out tonight whilst I was having a pint and dinner, I have no idea where this fantastic offer you quote of £20m to the club has suddenly come from. And is it to the club - The Rangers FC Or really to the company -Rangers International FC? Be clear about that. The Spivs own RIFC, which owns the utterly impoverished TRFC. TRFC has massive debts. It owes money to RIFC, Ashley and others... and its assets are all in hoc. The three bears and king are buying shares in RIFC. Their"money" is going into that abyss in an attempt to get some sort of influence. It is not an investment in the club/team. The best thing they could do is drive the ship onto the rocks and hope they can wrest real control of any new vessel that surfaces. Debt free... Tho it will also likely be asset free, too. There's nothing crazy-looking about Ashley's power to nominate directors when you realise he has been the only one to provide real money for the functioning of TRFC. The others are buying shares in RIFC. But Ashley has real money and that's real power. Edited January 3, 2015 by bluto Quote Link to comment Share on other sites More sharing options...
Dibbles old paperboy Posted January 4, 2015 Report Share Posted January 4, 2015 KIng and chums offered to invest £16m and were turned down but the offer was still on the table by the time of the AGM last month and the 3 bears group had offered to invest £6.5m before they bought shares last week. Buying shares from Laxey at 1p a share still leaves the 3 Bears with plenty left to invest, and likewise King has picked up his shares at a knock down price as well. Like yourself I am hoping nothing comes of these would be saviours being ready to try and bail them out or oust the current board! Unless it has come out tonight whilst I was having a pint and dinner, I have no idea where this fantastic offer you quote of £20m to the club has suddenly come from. Quote Link to comment Share on other sites More sharing options...
BaldyOzBud Posted January 4, 2015 Report Share Posted January 4, 2015 So Goldicock and the three bears are coming to rescue the threadbare's? I predict that they will all choke on their cold porridge. And that, my fellow Buds, will be " just right " Quote Link to comment Share on other sites More sharing options...
bluto Posted January 4, 2015 Author Report Share Posted January 4, 2015 (edited) KIng and chums offered to invest £16m and were turned down but the offer was still on the table by the time of the AGM last month and the 3 bears group had offered to invest £6.5m before they bought shares last week. Buying shares from Laxey at 1p a share still leaves the 3 Bears with plenty left to invest, and likewise King has picked up his shares at a knock down price as well. Like yourself I am hoping nothing comes of these would be saviours being ready to try and bail them out or oust the current board! Ah. I see. Ta.Imaginary money - Dave King style. The convicted tax criminal (fine person for the SFA to accept as being a proper owner) has been huffing and puffing about buying and investing millions in the Rangers for years now. Nothing has ever come of it. Scottish tabloids love writing about him "jetting in" to save the Big Hoose, but they seldom publicise how often he quietly "jets back oot" having done nothing. However.... This time, it seems, his family trust HAVE bought knock-down shares... after King has spent a year persuading ordinary bears to boycott, which has unsurprisingly knocked down the cost of buying shares.... Will AIM investigate this? But that's yet another diversion.... More importantly... and back to my earlier posts, I don't see where it gets them, unless forcing liquidation, accepting the points hit and/or no promotion and starting again is on the agenda. The Rangers is an impossibly expensive shambles to run. Unsustainable. Mike Ashley, in that he has impossible pots of money that COULD sustain it as a tax-loss leader for his empire, still has the power to let it limp along. He won't be hurt either way. He still holds all the retail rights, iconography of the club and its name and probably its main assets, though no one really knows who "owns" Ibrox and Murray Park. Rebirth at someone else's cost and investment would suit him fine. As baldyozbud indicates... Ra poor Berrz will just have to keep supping fairytale porridge. With no happy ending. Happy New Year. ETA: Something else about your quote above that concerned me -and impacts hugely on your premise. I had to check... The Laxey shares were rather more expensive than you suggest - at 20/21 pence per share. King, a day later, paid a penny or so MORE per share. These are still depressed prices on a year ago. Edited January 4, 2015 by bluto Quote Link to comment Share on other sites More sharing options...
insaintee Posted January 4, 2015 Report Share Posted January 4, 2015 KIng and chums offered to invest £16m and were turned down but the offer was still on the table by the time of the AGM last month and the 3 bears group had offered to invest £6.5m before they bought shares last week. Buying shares from Laxey at 1p a share still leaves the 3 Bears with plenty left to invest, and likewise King has picked up his shares at a knock down price as well. Like yourself I am hoping nothing comes of these would be saviours being ready to try and bail them out or oust the current board! I offered to buy my wife a diamond ring Quote Link to comment Share on other sites More sharing options...
bluto Posted January 4, 2015 Author Report Share Posted January 4, 2015 I offered to buy my wife a diamond ring Precisely! When I said above... It's almost as if I'd been long-winded ... Quote Link to comment Share on other sites More sharing options...
Dibbles old paperboy Posted January 5, 2015 Report Share Posted January 5, 2015 It would appear that there is a genuine battle to buy up shares and try and gain a 51% majority shareholding if this article is to be believed: http://www.bbc.co.uk/sport/0/football/30669167. King and the 3 Bears group may be trying to oust Ashley, the Easdales who now own less shares than King and the 3 Bears combined. And there is also talk of an American takeover: http://www.bbc.co.uk/sport/0/football/30674489 Some BBC analysis of the recent moves to buy shares: http://www.bbc.co.uk/sport/0/football/30667547 Quote Link to comment Share on other sites More sharing options...
bluto Posted January 5, 2015 Author Report Share Posted January 5, 2015 Aye, it's wonderful - yet another billionaire falling over himself to pour money into this basket case. Quote Link to comment Share on other sites More sharing options...
shull Posted January 5, 2015 Report Share Posted January 5, 2015 I offered to buy my wife a diamond ring I didnae Quote Link to comment Share on other sites More sharing options...
Lord Pityme Posted January 5, 2015 Report Share Posted January 5, 2015 http://www.bbc.co.uk/sport/0/football/30678270 Don't the orcs get wound up on a minute by minute basis anyway? Quote Link to comment Share on other sites More sharing options...
bluto Posted January 5, 2015 Author Report Share Posted January 5, 2015 http://www.bbc.co.uk/sport/0/football/30678270 Don't the orcs get wound up on a minute by minute basis anyway? Hmm. And the Easdales loan is for "the next few days".It's almost as if they're trading whilst knowingly insolvent! But they wouldn't do that whilst they have such a highly paid set of individuals still on the staff, would they? That would be unfair and that's surely not the The Rangers way...? ( rumour is that the HMRC have demanded money : "Rangers update Chris McLaughlin BBC Sport Rangers’ latest crisis loan was taken to avoid being wound up by HMRC, BBC Scotland has learned. It’s understood the club received a seven-day notice letter at the end of December for the payment of national insurance." TheThe Rangers NOT pay NI and tax? Surely not? ) Quote Link to comment Share on other sites More sharing options...
saint in exile Posted January 5, 2015 Report Share Posted January 5, 2015 Why can't the b*stards just die and give us peace? Quote Link to comment Share on other sites More sharing options...
insaintee Posted January 5, 2015 Report Share Posted January 5, 2015 (edited) It would appear that there is a genuine battle to buy up shares and try and gain a 51% majority shareholding if this article is to be believed: http://www.bbc.co.uk/sport/0/football/30669167. King and the 3 Bears group may be trying to oust Ashley, the Easdales who now own less shares than King and the 3 Bears combined. And there is also talk of an American takeover: http://www.bbc.co.uk/sport/0/football/30674489 Some BBC analysis of the recent moves to buy shares: http://www.bbc.co.uk/sport/0/football/30667547 King has a reputation for fluffing shares in the SA stock market. Surely not doing the same thing here. Pump and dump (and now thats not a porn film I'm talking about) Edited January 5, 2015 by insaintee Quote Link to comment Share on other sites More sharing options...
melmac Posted January 5, 2015 Report Share Posted January 5, 2015 Hmm. And the Easdales loan is for "the next few days". It's almost as if they're trading whilst knowingly insolvent! But they wouldn't do that whilst they have such a highly paid set of individuals still on the staff, would they? That would be unfair and that's surely not the The Rangers way...? ( rumour is that the HMRC have demanded money : "Rangers update Chris McLaughlin BBC Sport Rangers’ latest crisis loan was taken to avoid being wound up by HMRC, BBC Scotland has learned. It’s understood the club received a seven-day notice letter at the end of December for the payment of national insurance." TheThe Rangers NOT pay NI and tax? Surely not? ) Does non payment of NI or the like not automatically incur a penalty by the SFA or whatever they now call themselves? Quote Link to comment Share on other sites More sharing options...
Lord Pityme Posted January 5, 2015 Report Share Posted January 5, 2015 Does non payment of NI or the like not automatically incur a penalty by the SFA or whatever they now call themselves? It does if it goes to court, seems this was a last gasp fix to prevent that, hopefully it fails! Quote Link to comment Share on other sites More sharing options...
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