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The Rangers soap opera goes on and on.


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IveSeenTheLight
3 hours ago, Lfhearts said:

Ryan Fraser is only on £1k a week I don't believe that at all. No premiership player can be on as little as that.

 

‘Never, he signed a £3M 3 year extension with Bournemouth a few seasons ago I believe.

That would’ve put him on about £20k a week a few years ago.

There is a 20% sell on clause for Aberdeen, so hoping he gets sold if he leaves

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6 hours ago, 132goals1958 said:

 

A case of every cloud having a silver lining. The contempt of court saga still rolls on whilst the allegation from the glib one that members of organised crime have bought into the club seems to have gone a bit quit.

 

Was that not just so he could refuse the Easdales a vote in the share issue?

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Desperately trying to find a buyer for the Colombian cheat. All these fake stories planted in the compliant press trying to drum up business. 

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Morelos is such a dirty, cheaty player I can't see him succeeding anywhere that they have decent refs and lots of good defences. Hence Sevco 2012 try to look busy by rebuffing approaches that don't actually exist.

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1 hour ago, Deevers said:

Desperately trying to find a buyer for the Colombian cheat. All these fake stories planted in the compliant press trying to drum up business. 

 

There may be some element of truth - but the interest level and fee may have passed through the Level 5 bicycle pump of hot air first. 

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On 19/01/2019 at 13:29, Brave Hearts said:

 

Edited by Strachsuit
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On 19/01/2019 at 13:29, Brave Hearts said:

 

Article in The Times this morning saying der Huns are have agreed to pay £65,000 a week for the rest of the season on Defoe.

 

Bournemouth will still be paying the other half of his £130,000 a week salary.

 

8FBCE1C0-9D1C-412E-ADBE-CD350D261B9D.jpeg.1bbc30301d0bea85271cf4a9cdccf5a7.jpeg

 

Sorry but when the article can't even get the name of the league correct, forgive me if I take it with a massive dose of salt. More regurgitated shite from other "news" sources. This is what journalism has become these days.

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Footballfirst
12 hours ago, Stuart Lyon said:

All gone quiet on the Glib and shameless liar's contempt of court case.

 

He is due to make his long awaited share offer by 5.30pm on Friday. If he fails to do so there will be another hearing at the CoS on 29 January and will be required to make a personal appearance at a subsequent hearing on 4 February.

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27 minutes ago, Mysterion said:

 

There may be some element of truth - but the interest level and fee may have passed through the Level 5 bicycle pump of hot air first. 

If, and it’s a big if, he goes in this window it will be for no where near the figures being banded about in their fanzines. There will be bit of desperation inside the  Blue Room as I think getting a reasonable fee for him just now is essential for their plans and possibly even keeping them afloat.

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11 minutes ago, Deevers said:

If, and it’s a big if, he goes in this window it will be for no where near the figures being banded about in their fanzines. There will be bit of desperation inside the  Blue Room as I think getting a reasonable fee for him just now is essential for their plans and possibly even keeping them afloat.

 

I would take a guess that the current board will be asked to put their hand in their pockets again - they'll be sold the vision that the club is on the verge of the greatest comeback ever and they'll be repaid in shares/increased revenues (prize money etc). 

 

We'd all love them to be in trouble again but I now struggle to see a scenario where those in charge will allow it (they've all got too much to lose).

 

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On 30/11/2018 at 22:28, Deevers said:

 

 

Spoiler

 

 

Edited by buzzbomb1958
Old post
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40 minutes ago, JackLadd said:

Somebody must be funnelling  money into them. The DUP is my guess.

 

I am certain there will be funds coming in from various sources since they have no bank overdraft facilities ... unless they are printing their own ! Personally I could care less if someone is making large a commitment to them ... so what we are getting money from unnamed benefactors. The difference is the money we get is being used wisely to further the club's future whereas any money they get is being pissed into the wind in utter desperation. The loss of say a couple of games for us is something we could do without BUT the club's existence is not in jeopardy because of that, I don't think the same is true for them they need to achieve certain targets to help balance the crazy money spend.

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Your assessment is probably  correct, however the borrowing from Directors can't go on for ever. They have wracked up quite a considerable debt to date. We don't really know the ins and outs of their financing. I suspect that a failure to pip Celtic this season might well have a considerable fallout for them. I still get the feeling that they are desperate to cash in on Morelos in this window and that's why we are seeing all of these planted stories in the media. 

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2 hours ago, Footballfirst said:

Morelos isn't happy about something. Perhaps it's a trip to Nice that's been called off.

 

image.png.20e0b3a2e4148ba22d4da6b1228a69b5.png

 

 

 

tenor.gif?itemid=12341169

 

 

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41 minutes ago, SUTOL said:

 

 

 

tenor.gif?itemid=12341169

 

 

Probably pissed off having signed a new deal he finds out Defoe is on £130 k a week and Sevco are paying half ,he's probably on peanuts compared to that hopefully that will **** his head up ,red card against killie

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3 hours ago, Footballfirst said:

 

He is due to make his long awaited share offer by 5.30pm on Friday. If he fails to do so there will be another hearing at the CoS on 29 January and will be required to make a personal appearance at a subsequent hearing on 4 February.

Why another hearing? They've already ruled him in contempt, is this hearing to say we really really mean it?

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2 hours ago, jock _turd said:

 

I am certain there will be funds coming in from various sources since they have no bank overdraft facilities ... unless they are printing their own ! Personally I could care less if someone is making large a commitment to them ... so what we are getting money from unnamed benefactors. The difference is the money we get is being used wisely to further the club's future whereas any money they get is being pissed into the wind in utter desperation. The loss of say a couple of games for us is something we could do without BUT the club's existence is not in jeopardy because of that, I don't think the same is true for them they need to achieve certain targets to help balance the crazy money spend.

 

I had the misfortune of meeting someone on holiday last year who is involved with the Blue Knights and is worth a fair few quid.

 

The guy, unsurprisingly, was a horrific bigot and I have no doubt he has been making significant ‘investment’ in the club over the last few years with other ‘like minded’ individuals. 

 

The guy would give every penny he has to stop 10 in a row. 

 

 

 

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It’s the growing debt/losses that interest me most. £14m loss last year? Ouch!

 

If someone takes them off GaSL’s hands, they need to pay more and more as the losses mount up. These wee bears that toddle along beside King, throwing their money at insuring his largesse will want some sort of remuneration should a rich bigot slither in from the left field.

 

Sevco are chucking money they don’t currently have at stopping ten in a row. That much is obvious.

 

I think they are happy with the minimal reputational damage they suffered when they died and formed a completely new football club. That’s what they will do again, when their criminally ill-monitored efforts to stop 10iar fall flat.

 

They’ve shaken the bigot tree a lot in recent years, and a few orange monkeys have fallen in to their swag sack. That tree is getting more and more sparse of fruit though...

 

all imo.

 

 

Edited by Glib and Shameless Crier
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7 hours ago, Deevers said:

Desperately trying to find a buyer for the Colombian cheat. All these fake stories planted in the compliant press trying to drum up business. 

 

Would not surprise me to see him actually get sent off before the end of the window to trigger the 'hounded out of scottish football' chat from stevie g as they punt him for £4m

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39 minutes ago, Glib and Shameless Crier said:

It’s the growing debt/losses that interest me most. £14m loss last year? Ouch!

 

If someone takes them off GaSL’s hands, they need to pay more and more as the losses mount up. These wee bears that toddle along beside King, throwing their money at insuring his largesse will want some sort of remuneration should a rich bigot slither in from the left field.

 

Sevco are chucking money they don’t currently have at stopping ten in a row. That much is obvious.

 

I think they are happy with the minimal reputational damage they suffered when they died and formed a completely new football club. That’s what they will do again, when their criminally ill-monitored efforts to stop 10iar fall flat.

 

They’ve shaken the bigot tree a lot in recent years, and a few orange monkeys have fallen in to their swag sack. That tree is getting more and more sparse of fruit though...

 

all imo.

 

 

Bravo, sir. 

Edited by jambovambo
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7 hours ago, Strachsuit said:

 

Sorry but when the article can't even get the name of the league correct, forgive me if I take it with a massive dose of salt. More regurgitated shite from other "news" sources. This is what journalism has become these days.

 

https://www.mirror.co.uk/sport/football/news/jermain-defoe-bournemouth-three-years-10486174

 

It was reported, in multiple outlets around the time when he signed, that he was on a hell of a lot more than the top paid player at Bournemouth.

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8 hours ago, kirkierobroy said:

Morelos is such a dirty, cheaty player I can't see him succeeding anywhere that they have decent refs and lots of good defences. Hence Sevco 2012 try to look busy by rebuffing approaches that don't actually exist.

 

They must have referees in Finland similar to ours then because his scoring record with Helsinki was better then it is with Rangers.

 

Helsinki - 27 goals 42 games.

Rangers - 26 goals 54 games.

 

Source is Wikipedia so might be out.

 

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6 minutes ago, Fozzyonthefence said:

He’s scored more than 26 goals for Sevco, or is that just league goals?

thats just league games 38 in 77 when you also include cup games

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5 minutes ago, Fozzyonthefence said:

He’s scored more than 26 goals for Sevco, or is that just league goals?

 

No idea, like I siad it is fro Wikipedia.

 

Transfermarkt have it as - 

 

Helsinki -  46 goals 62 games

Rangers - 38 goals 77 games

 

Either way the point stands.

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I hope the little Columbian remains at Sevco for the rest of this season!

Why;

1. a big drain on finances with his wages!

2. He’s not very good so won’t help win games!

3. No income from a small transfer fee to help Sevco finances!

4. He’s a loose cannon! He will get sent off and cost the 10 men points!

5. Ultimately cost the scouse unqualified coach his job!

 

He’s a true blue ? 

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King and his advisors have until 17:30 today, to confirm that the funds are all in place in the UK, and that the offer for shares has now been made....

 

This is from Rangers Media themselves;

 

 

155E9084-B267-4EE9-8859-7CDE3DF462BE.jpeg

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AllyjamboDerbyshire
32 minutes ago, The Gasman said:

King and his advisors have until 17:30 today, to confirm that the funds are all in place in the UK, and that the offer for shares has now been made....

 

This is from Rangers Media themselves;

 

 

155E9084-B267-4EE9-8859-7CDE3DF462BE.jpeg

Note the order does not say that he has to make the order at 5.30 today, but 'no later than...' In other words, if the money had arrived at the third party on the required date, he could have made the offer at any time up until today, which, in the best interests of the club, it's supporters and the shareholders of RIFC would have been the decent thing to do. Waiting until the last minute to make the offer only suits King and his obnoxious nature. Even today, there is no need to wait until 5.30 before making an announcement that the offer is going ahead.

 

NB I am not saying that King will not comply, just pointing out that there was no need to wait until the last minute, or even last day to add some certainty to an uncertain business and football club.

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Footballfirst

The offer has been made.

https://rangers.co.uk/club/investor-centre/shareholder-centre/circulars-admission-document/mandatory-offer-for-rifc-plc/

 

King has irrevocable undertakings, not to accept, from the following shareholders:

 

Neil Hosie     2,000,000
Ally McCoist    1,092,988
Andrew Ross    2,500,000
Club 1872    13,372,254
Barry Scott    8,645,000
Hargreaves Landsdown (Graeme Henderson)    579,757
Hargreaves Landsdown (John Bennett)    5,300,000
HSBC Global Custody Nomminee  (Leslie Hutchison)  771,997
Andrew Hawkward    2,500,000
New Trace Ltd    7,500,000
Borita Investments    11,132,500
    
Total of Undertakings    55,394,496

 

Those 55m shares represent approx £11m of the £19m King would ordinarily be required to put up in cash in advance, but in reality probably ended up putting up the balance of £8m.

 

In order for the offer to become unconditional, he needs acceptances from the holders of just over 23m shares.

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26 minutes ago, Footballfirst said:

The offer has been made.

https://rangers.co.uk/club/investor-centre/shareholder-centre/circulars-admission-document/mandatory-offer-for-rifc-plc/

 

King has irrevocable undertakings, not to accept, from the following shareholders:

 

Neil Hosie     2,000,000
Ally McCoist    1,092,988
Andrew Ross    2,500,000
Club 1872    13,372,254
Barry Scott    8,645,000
Hargreaves Landsdown (Graeme Henderson)    579,757
Hargreaves Landsdown (John Bennett)    5,300,000
HSBC Global Custody Nomminee  (Leslie Hutchison)  771,997
Andrew Hawkward    2,500,000
New Trace Ltd    7,500,000
Borita Investments    11,132,500
    
Total of Undertakings    55,394,496

 

Those 55m shares represent approx £11m of the £19m King would ordinarily be required to put up in cash in advance, but in reality probably ended up putting up the balance of £8m.

 

In order for the offer to become unconditional, he needs acceptances from the holders of just over 23m shares.

 

Who else has a large amount?

 

Eastdales?

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Footballfirst
3 minutes ago, Lovecraft said:

 

Who else has a large amount?

 

Eastdales?

Potential sellers include:

 

Blue Pitch***     4,000,000
Margarita***     2,600,000
Norne Ansalt***     1,200,000
Putney Holdings***     700,000
Sandy Easdale    5,256,110
James Easdale    572,749
River and Mercantile 2,123,159
Beaufort Securities*** not known

 

Total of potential sellers 16,452,018 + the holdings of  Beaufort Securities***

 

*** That assumes that the "frozen" shares and those held by Beaufort are permitted to sell.

 

It is still possible that the offer will become unconditional, but my gut feel is that the level of acceptances will be below the threshold.

 

Note that the offer closes at 1pm on 15 February.

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1 minute ago, Footballfirst said:

Potential sellers include:

 

Blue Pitch***     4,000,000
Margarita***     2,600,000
Norne Ansalt***     1,200,000
Putney Holdings***     700,000
Sandy Easdale    5,256,110
James Easdale    572,749
River and Mercantile 2,123,159
Beaufort Securities*** not known

 

Total of potential sellers 16,452,018 + the holdings of  Beaufort Securities***

 

*** That assumes that the "frozen" shares and those held by Beaufort are permitted to sell.

 

It is still possible that the offer will become unconditional, but my gut feel is that the level of acceptances will be below the threshold.

 

Note that the offer closes at 1pm on 15 February.

 

Thanks.

Why are they frozen?

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3 minutes ago, Lovecraft said:

 

Thanks.

Why are they frozen?

 

I don't remember the group name (Margarita Holdings possibly?) - however there is a claim that some shares are held by a group with links to money laundering. 

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Footballfirst
6 minutes ago, Lovecraft said:

 

Thanks.

Why are they frozen?

The first four companies holdings were frozen by the RIFC Board (under King) for allegedly failing to provide sufficient information on the beneficial ownership of the shares.

 

Beaufort Securities went into administration last February. They acted as a nominee shareholder for multiple clients. The administrators (PWC) planned to return the shareholdings to the beneficial owners or another nominee company. That is still in progress. The last update I saw (2 or 3 months ago) was that 85% of that work had been completed.  Beaufort was forced into administration by the US authorities who believed that there were engaged in money laundering. It's not clear if any clients with RIFC shares were under investigation.

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2 hours ago, Footballfirst said:

 

 "frozen" shares 

 

 

 

"Frozen" shares you say.

 

Prepare for a bombardment from our friends on dafties.net to be all over this.

 

I can remember their assertion that the deal to come out of administration could not be concluded because of the "frozen shares".

 

Even when the documents had been signed they were convinced that the "frozen shares" would eventually scupper the deal. Idiots to a man they are.

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And today's Herald.....

 

A KEY Rangers board member has warned that the club cannot continue to run on  loans indefinitely - as chairman Dave King made a court-ordered £8m offer to buy out most of the shareholders.

John Bennett, chairman of the club's independent directors, made the comments while advising shareholders over the pros and cons of taking part in the offer.

When the club announced pre-tax losses had more than doubled for a second consecutive year to £14.3million last year, the board said Mr King's New Oasis Asset Limited would provide additional loans as necessary.

The board said in October that the latest forecasts indicate at least £4.6m was required for the rest of this season and a further £3m was needed for 2019/20.

However, the independent auditor from Campbell Dallas accepted a failure to secure the additional funds would result "in the existence of a material uncertainty which may cast significant doubt as to the group's ability to continue as a going concern".

Mr Bennett in written advice on the financial prospects of the club over Mr King's offer said: "Rangers International Football Club plc is loss making and is supported by loans from the directors and other key shareholders. This cannot continue indefinitely."

He said financial support was partly addressed by September's £12m share issue and there would be two further share issues.

But he added: "Going forward it will become necessary to resolve the flow of losses incurred by the company. The independent Directors believe this is achievable subject to the two share issues proceeding as planned."

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Seymour M Hersh
On 23/01/2019 at 11:01, JackLadd said:

Somebody must be funnelling  money into them. The DUP is my guess.

 

Well they did get an extra £1billion from May. :laugh:

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2 hours ago, DesertDawg said:

And today's Herald.....

 

A KEY Rangers board member has warned that the club cannot continue to run on  loans indefinitely - as chairman Dave King made a court-ordered £8m offer to buy out most of the shareholders.

John Bennett, chairman of the club's independent directors, made the comments while advising shareholders over the pros and cons of taking part in the offer.

When the club announced pre-tax losses had more than doubled for a second consecutive year to £14.3million last year, the board said Mr King's New Oasis Asset Limited would provide additional loans as necessary.

The board said in October that the latest forecasts indicate at least £4.6m was required for the rest of this season and a further £3m was needed for 2019/20.

However, the independent auditor from Campbell Dallas accepted a failure to secure the additional funds would result "in the existence of a material uncertainty which may cast significant doubt as to the group's ability to continue as a going concern".

Mr Bennett in written advice on the financial prospects of the club over Mr King's offer said: "Rangers International Football Club plc is loss making and is supported by loans from the directors and other key shareholders. This cannot continue indefinitely."

He said financial support was partly addressed by September's £12m share issue and there would be two further share issues.

But he added: "Going forward it will become necessary to resolve the flow of losses incurred by the company. The independent Directors believe this is achievable subject to the two share issues proceeding as planned."

 

So essentially if you stay about your shares will be diluted?

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8 hours ago, DesertDawg said:

And today's Herald.....

 

A KEY Rangers board member has warned that the club cannot continue to run on  loans indefinitely - as chairman Dave King made a court-ordered £8m offer to buy out most of the shareholders.

John Bennett, chairman of the club's independent directors, made the comments while advising shareholders over the pros and cons of taking part in the offer.

When the club announced pre-tax losses had more than doubled for a second consecutive year to £14.3million last year, the board said Mr King's New Oasis Asset Limited would provide additional loans as necessary.

The board said in October that the latest forecasts indicate at least £4.6m was required for the rest of this season and a further £3m was needed for 2019/20.

However, the independent auditor from Campbell Dallas accepted a failure to secure the additional funds would result "in the existence of a material uncertainty which may cast significant doubt as to the group's ability to continue as a going concern".

Mr Bennett in written advice on the financial prospects of the club over Mr King's offer said: "Rangers International Football Club plc is loss making and is supported by loans from the directors and other key shareholders. This cannot continue indefinitely."

He said financial support was partly addressed by September's £12m share issue and there would be two further share issues.

But he added: "Going forward it will become necessary to resolve the flow of losses incurred by the company. The independent Directors believe this is achievable subject to the two share issues proceeding as planned."

What £12m share issue ? 

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It's all about stopping 10-in-a-row.

 

If they don't win the league this season (only the slimmest of chances) they will be totally crippled.

This is a real "all or nothing" last roll.

 

 

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7 hours ago, NANOJAMBO said:

What £12m share issue ? 

https://www.thescottishsun.co.uk/sport/football/3279117/rangers-share-issue-takeover-panel-complete-dave-king/

 

https://rangers.co.uk/club/investor-centre/share-information/

 

Rangers has an issued share capital of 144,625,338 ordinary shares of 1 pence each in the capital of the Company (“Ordinary Shares”).

Major Shareholding (3% or above):

The Company understands that its major shareholders are as follows:

Shareholder No of Ordinary Shares held % of issued share capital
New Oasis Asset Limited 21,068,594 14.57%
Club 1872 Shares CIC 13,372,254 9.50%
George Alexander Taylor 13,445,768 9.30%
Borita Investments Limited 11,132,500 7.70%
Douglas Park 8,875,094 6.14%
Barry Scott 8,645,000 5.98%
New Trace Limited 7,500,000 5.19%
George Letham 5,856,701 4.05%
John Bennett 5,300,000 3.66%
Alexander Easdale 5,256,110 3.63%

The Ordinary Shares are freely transferable. No Ordinary Shares are held in treasury.

Currently 8,500,000 of the Company’s Ordinary Shares (c. 10.4%) are subject to restrictions affecting the right to vote the affected shares, the right to receive payments or distributions in respect of the affected shares and the right to transfer the affected shares. The affected shares are those identified in the attached Shareholder Information.

Director shareholding interests are as follows:

  • Dave King has advised that he, his wife and children are  interested in all of the shares held by New Oasis Asset Limited (see above for details of that company’s holding)
  • John Bennett holds 5,300,000 ordinary shares
  • Douglas Park holds 8,875,094 ordinary shares
  • Barry Scott holds 8,645,000 ordinary shares
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1 hour ago, Lovecraft said:

https://www.thescottishsun.co.uk/sport/football/3279117/rangers-share-issue-takeover-panel-complete-dave-king/

 

https://rangers.co.uk/club/investor-centre/share-information/

 

Rangers has an issued share capital of 144,625,338 ordinary shares of 1 pence each in the capital of the Company (“Ordinary Shares”).

Major Shareholding (3% or above):

The Company understands that its major shareholders are as follows:

Shareholder No of Ordinary Shares held % of issued share capital
New Oasis Asset Limited 21,068,594 14.57%
Club 1872 Shares CIC 13,372,254 9.50%
George Alexander Taylor 13,445,768 9.30%
Borita Investments Limited 11,132,500 7.70%
Douglas Park 8,875,094 6.14%
Barry Scott 8,645,000 5.98%
New Trace Limited 7,500,000 5.19%
George Letham 5,856,701 4.05%
John Bennett 5,300,000 3.66%
Alexander Easdale 5,256,110 3.63%

The Ordinary Shares are freely transferable. No Ordinary Shares are held in treasury.

Currently 8,500,000 of the Company’s Ordinary Shares (c. 10.4%) are subject to restrictions affecting the right to vote the affected shares, the right to receive payments or distributions in respect of the affected shares and the right to transfer the affected shares. The affected shares are those identified in the attached Shareholder Information.

Director shareholding interests are as follows:

  • Dave King has advised that he, his wife and children are  interested in all of the shares held by New Oasis Asset Limited (see above for details of that company’s holding)
  • John Bennett holds 5,300,000 ordinary shares
  • Douglas Park holds 8,875,094 ordinary shares
  • Barry Scott holds 8,645,000 ordinary shares

 

A DFE similar to the one Vlad done during his time at Hearts was ours not 18 million? 

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