alwaysthereinspirit Posted November 22, 2013 Share Posted November 22, 2013 And 4 old firm games a season , the corner stone of scottish football They're the lucky ones. The rest of us have to play them 8 times. Link to comment Share on other sites More sharing options...
...a bit disco Posted November 22, 2013 Share Posted November 22, 2013 (edited) And 4 old firm games a season , the corner stone mill stone around the neck of scottish football Fixed. Edited November 22, 2013 by ...a bit disco Link to comment Share on other sites More sharing options...
Footballfirst Posted November 22, 2013 Share Posted November 22, 2013 (edited) Easdale & Laxey alone have 35%. The agm is a forgone conclusion now.. Spivs 1. Requisioners 0. Edinburgh's Maroon Similarly named Beaufort Nominees Ltd (I assume they are connected) were named as holding shares on behalf of Margarita and Blue Pitch back in September when they initially assigned voting rights to Sandy Easdale. http://www.lse.co.uk...ding_in_Company http://www.lse.co.uk...ding_in_Company The number of shares held in proxy by Sandy Easdale has actually fallen marginally with this announcement from 23.79% to 23.34%. I suspect that some of the smaller investors in the initial purchase and pre IPO fundraising have now cashed in with their shares going to Laxey's. However by sweeping up another 3M shares Beaufort's position remains virtually unchanged. Overall some of the original Spivs seem to have cashed in and new Spivs have reinforced their position. The biggest fear now for Spivco fans that Laxey's are likely to be more aggressive in their sweating of the assets in order to get a quick return for their investors. I guess what we are seeing is a transfer of ownership being enacted between "oldco" Spivs (Green, Ahmad & co) and "newco" Spivs (Laxey's Kingsnorth and Crighton). The only appointment that seems to go against this trend is that of Graham Wallace as CEO, as I can't find his Spiv connection. The AGM is likely to a damp squib, but expect tighter controls on what comes into the public domain going forward, particularly with regard to internal wheeling and dealing of funds and assets. Edited November 22, 2013 by Footballfirst Link to comment Share on other sites More sharing options...
Footballfirst Posted November 22, 2013 Share Posted November 22, 2013 Surprise Surprise! A former director of Beaufort Securities was Imran Ahnad. It's a small world. http://companycheck.co.uk/company/02693942/BEAUFORT-SECURITIES-LIMITED/directors-shareholders#people-summary Link to comment Share on other sites More sharing options...
Don Dan Posted November 22, 2013 Share Posted November 22, 2013 (edited) Footballfirst. "The only appointment that seems to go against this trend is that of Graham Wallace as CEO, as I can't find his Spiv connection." Red herring? To throw the blood hounds off the scent. Edit. Then maybe not! Edited November 22, 2013 by Dannie Boy Link to comment Share on other sites More sharing options...
Footballfirst Posted November 22, 2013 Share Posted November 22, 2013 Footballfirst. "The only appointment that seems to go against this trend is that of Graham Wallace as CEO, as I can't find his Spiv connection." Red herring? To throw the blood hounds off the scent. Edit. Then maybe not! Quite possibly. We don't know the terms of his appointment. It might be that he has been offered say ?50K as a short term arrangement up to the AGM, then negotiate a permanent deal thereafter, or let him walk. Link to comment Share on other sites More sharing options...
Footballfirst Posted November 25, 2013 Share Posted November 25, 2013 The Rangers Supporters Trust have launched a Membership scheme with the aim of paying off the Spivs buying control of the club. This was first mooted a couple of weeks ago, but I thought that it was going to be the club that did it in order to raise some working capital. http://www.therst.co.uk/buyrangers/ Link to comment Share on other sites More sharing options...
Charlie-Brown Posted November 25, 2013 Share Posted November 25, 2013 Didn't they just buy 49% of the club last December? Link to comment Share on other sites More sharing options...
The Comedian Posted November 25, 2013 Share Posted November 25, 2013 The Rangers Supporters Trust have launched a Membership scheme with the aim of paying off the Spivs buying control of the club. This was first mooted a couple of weeks ago, but I thought that it was going to be the club that did it in order to raise some working capital. http://www.therst.co.uk/buyrangers/ If about twenty three of them had got together a few years back, they could have cobbled together the pound Sir Dupes-a-lot was looking for. Link to comment Share on other sites More sharing options...
Footballfirst Posted November 25, 2013 Share Posted November 25, 2013 Didn't they just buy 49% of the club last December? According to the website they already have ?250k worth of shares. I don't know if that was based on the IPO price of ?0.70p a share, or the current value at ?0.42p. Either way the initial scheme wasn't exactly a success and if it was at the higher price, then the value of their investment is falling fast. Link to comment Share on other sites More sharing options...
tartofmidlothian Posted November 25, 2013 Share Posted November 25, 2013 Fair play to them if they want to buy their club back IMO. Need to see more of this at all levels of Scottish football, where it's sustainable. Link to comment Share on other sites More sharing options...
Benny Factor Posted November 25, 2013 Share Posted November 25, 2013 I had a wee look on the Rangers website to see if there was any mention of liquidation in their "club history" part.... and came across this spiel about some book they brought out about their first season..... "The disastrous tenure of Craig Whyte threatened the very existence of the club when administration turned to liquidation and as they fought for their very survival, there was zeal among others to make Rangers suffer." What??... No mention of the company???? Link to comment Share on other sites More sharing options...
269miles Posted November 25, 2013 Share Posted November 25, 2013 The Rangers Supporters Trust have launched a Membership scheme with the aim of paying off the Spivs buying control of the club. This was first mooted a couple of weeks ago, but I thought that it was going to be the club that did it in order to raise some working capital. http://www.therst.co.uk/buyrangers/ They don't seem to have a clue what they are up against .......and still no appetite for shares either. The club is bleeding money and no fan 'rescue' is going to save them. The fans managed ?5 million in the IPO IIRC. That will keep Sevco going for 5 months, to put it into perspective. Link to comment Share on other sites More sharing options...
Drainfish Posted November 25, 2013 Share Posted November 25, 2013 I had a wee look on the Rangers website to see if there was any mention of liquidation in their "club history" part.... and came across this spiel about some book they brought out about their first season..... Their website history stops after 2010 and the reigns being handed to Sally... Conclusive proof the clubs deid ! Link to comment Share on other sites More sharing options...
Hagar the Horrible Posted November 26, 2013 Share Posted November 26, 2013 Well fancy that! Fc Newco don't get a penny of the Jelavic cash because they are a new club, So the cash will go to "Oldco" http://www.dailyreco...7Pl8Hhs.twitter Now that the liquidators have got their ?1m they can now proceed to shut down THE RANGERS for real, and then there can be no dispute the evil witch has gone. I would also like to state its not the fans nor the clubs fault it was in the care of the most evil person in Scotland and that was SDM, who's legacy should be remembered as the man who killed the biggest football club (at the time) in Scotland. CW then dipped the pockets of the carcass, and CG recycled the remains Link to comment Share on other sites More sharing options...
Don Dan Posted November 26, 2013 Share Posted November 26, 2013 (edited) Now that the liquidators have got their ?1m they can now proceed to shut down THE RANGERS for real, and then there can be no dispute the evil witch has gone. I would also like to state its not the fans nor the clubs fault it was in the care of the most evil person in Scotland and that was SDM, who's legacy should be remembered as the man who killed the biggest football club (at the time) in Scotland. CW then dipped the pockets of the carcass, and CG recycled the remains And damaged Scottish football during his reign. Edited November 26, 2013 by Dannie Boy Link to comment Share on other sites More sharing options...
jambovambo Posted November 26, 2013 Share Posted November 26, 2013 (edited) Well fancy that! Fc Newco don't get a penny of the Jelavic cash because they are a new club, So the cash will go to "Oldco" http://www.dailyreco...7Pl8Hhs.twitter "... but warm them they are unlikely ..." - does nobody check for typos these days ? Edited November 26, 2013 by jambovambo Link to comment Share on other sites More sharing options...
Hagar the Horrible Posted November 26, 2013 Share Posted November 26, 2013 It also looks like they are going to do another ticketus deal (well perhaps with another company) to get them through to the end of the season, but that will reduce next years income, It would be worse than going to a pay day lender for a long term loan? Also this has more substance than an SNP white paper! Link to comment Share on other sites More sharing options...
269miles Posted November 26, 2013 Share Posted November 26, 2013 It also looks like they are going to do another ticketus deal Sauce ? Link to comment Share on other sites More sharing options...
Hagar the Horrible Posted November 26, 2013 Share Posted November 26, 2013 Sauce ? ME, but I should rephrase it, its been mooted its not a done deal. Link to comment Share on other sites More sharing options...
jambovambo Posted November 26, 2013 Share Posted November 26, 2013 Repeated from the existential thread ... Paul McConville found dead? Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted November 26, 2013 Share Posted November 26, 2013 Repeated from the existential thread ... Paul McConville found dead? Shame but only intriguing really if there were suspicious circumstances. Link to comment Share on other sites More sharing options...
jambovambo Posted November 26, 2013 Share Posted November 26, 2013 To be fair to Bryce9a: @Bryce9A: Very sad news to hear Paul McConville has passed away. He came across to me as a good guy & a family man. R.I.P. Link to comment Share on other sites More sharing options...
Beats Posted November 26, 2013 Share Posted November 26, 2013 To be fair to Bryce9a: @Bryce9A: Very sad news to hear Paul McConville has passed away. He came across to me as a good guy & a family man. R.I.P. Who is he? Link to comment Share on other sites More sharing options...
milky_26 Posted November 26, 2013 Share Posted November 26, 2013 Who is he? mcconville it the blogger behind the scotslaw blog http://scotslawthoughts.wordpress.com/ Link to comment Share on other sites More sharing options...
Armageddon Posted November 27, 2013 Share Posted November 27, 2013 See the bit on Sky News ticker tape about SevCo denying stories from shareholders that they're being investigated by the serious fraud office for illegle payments. Link to comment Share on other sites More sharing options...
I.T.K Posted November 28, 2013 Share Posted November 28, 2013 See the bit on Sky News ticker tape about SevCo denying stories from shareholders that they're being investigated by the serious fraud office for illegle payments. http://news.stv.tv/scotland/250617-shareholders-serious-fraud-office-called-over-rangers-payments/ Link to comment Share on other sites More sharing options...
jambovambo Posted November 28, 2013 Share Posted November 28, 2013 http://www.heraldscotland.com/mobile/news/home-news/rangers-mccoll-group-opens-new-front-in-boardroom-war.1385562574?_=5ccc46df48e0e29adb850efb4fc9bad910fefbe2 Link to comment Share on other sites More sharing options...
Armageddon Posted November 28, 2013 Share Posted November 28, 2013 A group of shareholders opposing the Rangers board have made allegations of a potential serious fraud in Ibrox relating to the company's share issue and called for the immediate resignation of certain board members The company The club The company The club The company The club The company The club The company The club The company The club The company The club The company The club Link to comment Share on other sites More sharing options...
Hagar the Horrible Posted November 28, 2013 Share Posted November 28, 2013 Just when you think the boardroom war is over, another wee gem gets unleashed. If the serious fraud office admit to at least in any small way looking into illegal payments, or at least assessing if there is grounds to warrant further investigation (even that process) then that would make the current board look a big bit like silly billies now would it not. You don't half get through some popcorn don't you Link to comment Share on other sites More sharing options...
Boris Posted November 28, 2013 Share Posted November 28, 2013 For sheer hilarity, best case scenario would be for the Murray/MacColl cabal to gain control, only for the original Sevco 5088 purchase to show Whyte's grubby mitts all over it and the resulting fall out. Link to comment Share on other sites More sharing options...
bryce9a Posted November 28, 2013 Share Posted November 28, 2013 The ipo raised 22 million. 6 million went on "costs" I.e the spivs getting their initial outlay back. Has anyone got any links/evidence to back that up? Not disputing, would be useful in pointing out to the odd blinkered-bear who can't see the spivs for what they are. Cheers. Link to comment Share on other sites More sharing options...
Footballfirst Posted November 28, 2013 Share Posted November 28, 2013 (edited) Has anyone got any links/evidence to back that up? Not disputing, would be useful in pointing out to the odd blinkered-bear who can't see the spivs for what they are. Cheers. Note 23 to the accounts ------------------------------------------------------Company ----------------------------------------------------- ?000's Premium arising on issue of equity shares 21,860 Costs incurred in relation to fundraising -- ( 5,681 ) Note 5 to the accounts IPO fund-raising expenses ---------------------- 332 It is not clear if the ?332K is included in the ?5.681M above Edited November 28, 2013 by Footballfirst Link to comment Share on other sites More sharing options...
bryce9a Posted November 28, 2013 Share Posted November 28, 2013 Note 23 to the accounts ------------------------------------------------------Company ----------------------------------------------------- ?000's Premium arising on issue of equity shares 21,860 Costs incurred in relation to fundraising -- ( 5,681 ) Note 5 to the accounts IPO fund-raising expenses ---------------------- 332 It is not clear if the ?332K is included in the ?5.681M above And presumably that doesn't include ridiculous 100% of salary bonuses, no doubt justified by the spivs in question by reference to raising the IPO cash. Link to comment Share on other sites More sharing options...
Jammy T Posted November 28, 2013 Share Posted November 28, 2013 Has anyone got any links/evidence to back that up? Not disputing, would be useful in pointing out to the odd blinkered-bear who can't see the spivs for what they are. Cheers. Every hun is blinkered to some extent Link to comment Share on other sites More sharing options...
DETTY29 Posted November 28, 2013 Share Posted November 28, 2013 (edited) And presumably that doesn't include ridiculous 100% of salary bonuses, no doubt justified by the spivs in question by reference to raising the IPO cash. Wasn't the 100% bonus for certain executives helping Rangers secure the Scottish 4th tier championship with a playing budget of ?7m for the season? I'm sure however, I read at one point that each of the original investors (?5.5m) was due their money back plus the same again. What I'm not so sure about is how they got the ?11m back. From the IPO funds, some IPO funds/some 1p shares or from the IPO funds in it's entirety with 1p shares thrown in. for further good measure. All the spivs have known each other for some time with Chuck apparently a specialist in raising AIM funds. To my knowledge none have ever been in the pokey, so I wouldn't be surprised if legally anything is wrong. Again, i've read this morning that the whistleblower is mightlily peeved at Stockbridge getting a bonus for the success of the players on the pitch. I'd imagime that in a previous life, no-one on the non-playing side of Rangers, (let's say Martin Bain for example) ever asked for bonus remuneration to be linked to onfield player success. Edited November 28, 2013 by DETTY29 Link to comment Share on other sites More sharing options...
bryce9a Posted November 28, 2013 Share Posted November 28, 2013 Every hun is blinkered to some extent Measured bigotry, quite the intellectual. Link to comment Share on other sites More sharing options...
Footballfirst Posted November 28, 2013 Share Posted November 28, 2013 And presumably that doesn't include ridiculous 100% of salary bonuses, no doubt justified by the spivs in question by reference to raising the IPO cash. The bonus payments will be included in the ?17.943M staff costs to 30/06/13. Any severance payments made since the financial year end (e.g. Craig Mather) will appear in the next set of accounts. Link to comment Share on other sites More sharing options...
Don Dan Posted November 28, 2013 Share Posted November 28, 2013 Easdales splash the cash again. http://www.bbc.co.uk/sport/0/football/25136710 Link to comment Share on other sites More sharing options...
Footballfirst Posted November 28, 2013 Share Posted November 28, 2013 The claims and counter claims continue http://www.rangers.co.uk/news/headlines/item/5670-board-statement Board Statement Written by Rangers Football Club WE CONTINUE to be deeply concerned at the unsubstantiated allegations being promoted by the requisitioners. These men, in particular Paul Murray and Malcolm Murray, portray themselves to our loyal fans as potential guardians of corporate governance, yet every action they take threatens to destabilise our club, could further influence the share price and may hamper the club?s ability to attract additional commercial partners in the future. The requisitioners are appearing at a public meeting in Glasgow this evening. We challenge them to prove their allegations but if all they can provide is rumour and hearsay they should now cease causing further damage. We note that the requisitioners had the opportunity to put 1,000 words in the AGM pack - they chose not to do so yet. Instead they have decided to wage a campaign in the media using fans to further their own agenda. Any statement issued to shareholders by them will now increase the costs on the club. Instead of putting forward their views to shareholders, fans, players and corporate partners through a letter included in the AGM notice, the requisitioners have chosen to mount personal attacks on individuals. We are surprised that an international businessman of Jim McColl?s standing would lend his name to these crude tactics. We believe that fans do not want to go back to the days of administration, relegation, boardroom strife and infighting which will ultimately prevent Rangers competing once again at the highest level. We believe that this could be a result of what McColl?s group is offering. Lastly we note that Malcolm Murray was present during the course of all the things complained of in yesterday?s statement - therefore the resulting press articles are in fact an attack on the requisitioners themselves. Rangers Chairman David Somers said: ?We are now on board and the fans can rest assured that costs incurred by previous directors prior to our appointment have already been thoroughly examined by a forensic accounting exercise and there is no evidence of any financial irregularity. "The Company's auditors have also provided an unqualified audit report. ?The fans and the media need to understand that the assets were bought out of administration - the cost of equity was therefore going to be much higher, given the risk, with no football licence, the lower league issues and the fact that previous poor corporate governance of the club added to the costs of an IPO. "Mr McColl may claim that the normal IPO costs are 5% but, despite his lack of experience in the sports world, even he must understand that the behaviour of some of his proposed directors contributed to those costs.? Tiebreak statement score: McColl 1-2 Board, McColl to serve. Link to comment Share on other sites More sharing options...
sandylejambo Posted November 28, 2013 Share Posted November 28, 2013 That last post by FF leads me to think that someone is getting their excuses in sharpish, "It was all their fault we're skint, They made the people we were hoping would give us cash, run away" Link to comment Share on other sites More sharing options...
Don Dan Posted November 28, 2013 Share Posted November 28, 2013 I hope we have ears in this meeting tonight, it will make very interesting reading. Link to comment Share on other sites More sharing options...
Footballfirst Posted November 28, 2013 Share Posted November 28, 2013 (edited) At a meeting this evening between the Requisitioners and Fans Groups, one of the requisitioners, Scott Murdoch has just stated that Jack Irvine is on a ?40,000 retainer a month plus ?100,000 bonus if he protects existing board. https://twitter.com/RangersStandard Watch it live if you dare. Edited November 28, 2013 by Footballfirst Link to comment Share on other sites More sharing options...
Don Dan Posted November 28, 2013 Share Posted November 28, 2013 "They want back on committees so they can set the agenda," nah no thanks you've already stuffed up Scottish football we the other clubs have had enough of you lot and your arrogant ways. By the way "We will not take it either" we've had enough. Link to comment Share on other sites More sharing options...
Don Dan Posted November 28, 2013 Share Posted November 28, 2013 Big thanks to FF for providing that link, well done you. Link to comment Share on other sites More sharing options...
Footballfirst Posted November 28, 2013 Share Posted November 28, 2013 (edited) From what I heard on the early part of the video feed, Jim McColl came across a bit defeatist re the Board votes. He thought they might be able to get Stockbridge out but that was about it. Another gem was that Malcolm Murray thought that they should be selling 1,000,000 shirts a year bringing in ?35M to the retail side. That is more than 10 times what they were getting from JJB Sports (?3M a year). They are living in cloud cuckoo land. Edited November 28, 2013 by Footballfirst Link to comment Share on other sites More sharing options...
brownkg Posted November 29, 2013 Share Posted November 29, 2013 Well I watched that and now understand that the big plan is to take the moral high ground,get involved in all the committees in Scottish football, set the agenda of these same committees, hit back hard at all those who have done/do them wrong,................ "our day will come" A couple of clumpany references too and I think Nacho says "get rid of the cancer in the club" but I hae my doubts Just staggering there seemed to be a general acceptance that they had been robbed blind but they will magically just resume their rightful place seemlessly as soon as they sort it all out Link to comment Share on other sites More sharing options...
niblick1874 Posted November 29, 2013 Share Posted November 29, 2013 The voting needs to be changed quick. Link to comment Share on other sites More sharing options...
Samster Posted November 29, 2013 Share Posted November 29, 2013 (edited) I hope the entire Rangers supporting world has been paying attentiion today. This is how an administration should be run. Stop blaming everyone else and get on with sorting the problems yourself. Except Rangers missed that boat because they were blind and let the spivs take control. Maybe admininstration mk2 will provide the fans with a better opportunity. Edited November 29, 2013 by Samster Link to comment Share on other sites More sharing options...
kingdannyb Posted November 29, 2013 Share Posted November 29, 2013 I see Whyte is back in court trying to overturn the decision that he owes Ticketus ?17m. If he loses I assume he hasn't got that in cash and assume he won't declare personal bankruptcy so what will he do ? Correct. He will sell his assets. Those being Ibrox, Murray Park and the Albion car park. And that will be the end of ZombieRangers. Link to comment Share on other sites More sharing options...
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