Imeantasong Posted March 4, 2015 Share Posted March 4, 2015 Suspended on AIM due to NOMAD http://www.investegate.co.uk/rangers-int-f-c--plc--rfc-/rns/suspension-of-trading-on-aim/201503041600035633G/ Link to comment Share on other sites More sharing options...
Feeno Posted March 4, 2015 Share Posted March 4, 2015 Link to comment Share on other sites More sharing options...
kingdannyb Posted March 4, 2015 Share Posted March 4, 2015 hahahahahahahahahahahahahaha! hahahahahahahahahahahahahaha! hahahahahahahahahahahahahaha! hahahahahahahahahahahahahaha! hahahahahahahahahahahahahaha! hahahahahahahahahahahahahaha! Link to comment Share on other sites More sharing options...
ToadKiller Dog Posted March 4, 2015 Share Posted March 4, 2015 Massive surge on the power grid as popcorn makers are switched on all over Scotland Link to comment Share on other sites More sharing options...
King of the North Posted March 4, 2015 Share Posted March 4, 2015 What does this mean? Link to comment Share on other sites More sharing options...
Harry Palmer Posted March 4, 2015 Share Posted March 4, 2015 Chris McLaughlin ?@BBCchrismclaug 5 mins5 minutes ago Rangers have 1 month to find a new nominated advisor or they will be suspended from the stock exchange. Link to comment Share on other sites More sharing options...
DETTY29 Posted March 4, 2015 Share Posted March 4, 2015 (edited) What does this mean? King has around a month to find a new NOMAD or it's privately funded Rangers but pretty much by the the end of play Monday and King has won the EGM, he really needs to tell the world who his new NOMAD is and put some meat on the bones on how he is going to fund Rangers going forward. otherwise No-one can buy or sell shares. No-one can raise money on the SE to bring in additional finance. Edited March 4, 2015 by DETTY29 Link to comment Share on other sites More sharing options...
Stuart Lyon Posted March 4, 2015 Share Posted March 4, 2015 Is this more of a nuisance than anything serious? Surely there will be any number of prospective NOMADs out there willing to take this on. Link to comment Share on other sites More sharing options...
jambovambo Posted March 4, 2015 Share Posted March 4, 2015 Suspended on AIM due to NOMAD http://www.investegate.co.uk/rangers-int-f-c--plc--rfc-/rns/suspension-of-trading-on-aim/201503041600035633G/ http://news.stv.tv/west-central/312615-rangers-shares-suspended-before-egm-stock-exchange-adviser-quits/ Indeed. Link to comment Share on other sites More sharing options...
jambovambo Posted March 4, 2015 Share Posted March 4, 2015 And the next hand grenade gets lobbed into the ring. No NOMAD. Here are a couple ... Link to comment Share on other sites More sharing options...
Rudolf's Mate Posted March 4, 2015 Share Posted March 4, 2015 This was mentioned on Sky yesterday that it was likely to happen. Link to comment Share on other sites More sharing options...
Rudolf's Mate Posted March 4, 2015 Share Posted March 4, 2015 Here's the article explaining: http://www1.skysports.com/football/news/11781/9741860/rangers-finance-qa-a-financial-expert-answers-some-key-questions Link to comment Share on other sites More sharing options...
DETTY29 Posted March 4, 2015 Share Posted March 4, 2015 Is this more of a nuisance than anything serious? Surely there will be any number of prospective NOMADs out there willing to take this on. Well King has said he was sacking WH Ireland anyway, so he should have one lined up. Link to comment Share on other sites More sharing options...
Boris Posted March 4, 2015 Share Posted March 4, 2015 Here are a couple ... https://www.youtube.com/watch?v=PqQTdN6024Y Link to comment Share on other sites More sharing options...
Jambof3tornado Posted March 4, 2015 Share Posted March 4, 2015 King will have a nomad lined up. This is nothing to get moist over. Link to comment Share on other sites More sharing options...
jambovambo Posted March 4, 2015 Share Posted March 4, 2015 King will have a nomad lined up. This is nothing to get moist over. Speak for yourself, mate. Link to comment Share on other sites More sharing options...
Libertarian Posted March 4, 2015 Share Posted March 4, 2015 I'm not sure if this article has been posted previously. https://www.theoffshoregame.net/241/ Link to comment Share on other sites More sharing options...
Rudolf's Mate Posted March 4, 2015 Share Posted March 4, 2015 Speak for yourself, mate. I think the fact they've had 4 different NOMADS in last 2 years tells you JT is right. Nothing to get moist over! Link to comment Share on other sites More sharing options...
Toonpack Posted March 4, 2015 Share Posted March 4, 2015 King will have a nomad lined up. This is nothing to get moist over. Likely true, but how does the fact that he has no formal position (yet) on the board effect his ability to nominate/get one ??? I don't know, just asking. Isn't it a board appointment ?? Also if shares suspended can EGM (and therefore King's crowning) go ahead ? Link to comment Share on other sites More sharing options...
AllyjamboDerbyshire Posted March 4, 2015 Share Posted March 4, 2015 King will have a nomad lined up. This is nothing to get moist over. No doubt an announcement will follow soon naming RIFC's prospective new NOMAD, otherwise it could mean King lied when he said he had one lined up. Unlikely, I know, for a man in King's position to publicly lie, so he should be naming them in about... Link to comment Share on other sites More sharing options...
King of the North Posted March 4, 2015 Share Posted March 4, 2015 It's surely not possible that the glib and shameless liar has got this far and not got a nomad... Is it? Can Ashley swat him aside this easily? Would be fantastic if so Link to comment Share on other sites More sharing options...
Sidsnot Posted March 4, 2015 Share Posted March 4, 2015 Here we go. The Board has speci?c concerns about the proposed appointment of Mr King and Mr Murray. Mr King was convicted in South Africa on 41 counts of contravening s.75 of the South African Income Tax Act. Mr King was previously a director of the company that formerly ran Rangers Football Club, The Rangers Football Club PLC. He held o?ce at the same time as Craig Whyte from 2011 until that company entered administration on 14 February 2012. Noting the above and WH Ireland's obligations as a NOMAD,WH Ireland have informed the Board that should Mr King be appointed to the Board, WH Ireland will resign as NOMAD and Broker to the Company with immediate e?ect. In the event that the NOMAD resigns, the Company's shares will be suspended from trading immediately. Under the AIM Rules, the Company will then have one month to replace the NOMAD. The Board is of the view that in the circumstances, there can be no guarantee that a new NOMAD will be appointed. In the event that a NOMAD is not appointed within a month of the suspension of trading, the Company's admission to trading will be cancelled. Accordingly, if this were to occur, the Company would no longer be traded on any Stock Exchange. In the judgement of the Board this is likely to make raising capital both more di?cult and more expensive. There would then be no regulatory oversight of the type to which companies admitted to AIM are subject, and there would be no market for Shareholders to sell their shares. The Board has also had legal advice that the "?t and proper" person requirement of article 10 of the Scottish Football Association's articles of association would be likely to preclude both Paul Murray and David King from becoming a director of The Rangers Football Club Ltd (were they to seek to be elected to the board of that company). This is because the company which previously ran Rangers Football Club went into administration within the last ?ve years and Mr King and Mr Murray were each a director of that company in that ?ve year period. In addition to Mr King's convictions in South Africa and the legal advice which the Board has received about the Scottish Football Association's "?t and proper" person requirement, the Board has a further concern about Mr King which is that his appointment would be in breach of section 216 of the Insolvency Act 1986. Subject to certain limited exceptions, s.216 requires a person to obtain the leave of the Court before becoming a director of a company if, in the preceding ?ve years, that person was a director of a company which went into liquidation whilst they were a director (or within one year of their ceasing to be a director) and the name of the new company of which they wish to be a director is the same as, or similar to, the name of the company which went into liquidation. This section applies to Mr King given he was, at the relevant time, a director of the company which previously owned the Rangers Football Club. This means that if he were to become a director of the Company without such leave then, unless he fell within one of the limited exceptions, he would be committing a criminal o?ence, punishable by imprisonment or a ?ne or both. The Board is not aware that Mr King either has such leave or comes within any of the other limited exceptions to s.216. The Directors are not aware of any similar reason which might preclude the appointment of Mr John Gilligan. However the priority for the Board is to appoint independent directors with capital markets experience and, so far as they know, Mr Gilligan does not possess that experience. The Directors do not rule out the appointment of Mr Gilligan in the future. The Directors recommend that Shareholders vote AGAINST Resolutions 5-7. Link to comment Share on other sites More sharing options...
Eldar Hadzimehmedovic Posted March 4, 2015 Share Posted March 4, 2015 It's beyond farce that a member club are begging the authorities to enforce FPP because a prospective owner clearly fails the test. Yes, of course there are mitigating circumstances but Doncaster and Regan must really need those Helicopter Sundays to basically appoint new Rangers owners themselves! Link to comment Share on other sites More sharing options...
jambovambo Posted March 4, 2015 Share Posted March 4, 2015 @McNallyMirror: "You guys don't understand how ****ing horrible we can be," Llambias warns Toon fans on messing with Ashley & co in my 2011 Mirror exclusive Link to comment Share on other sites More sharing options...
Rods Posted March 4, 2015 Share Posted March 4, 2015 Guys take a minute here and think about the poor SFA How are the meant to enjoy there popcorn with their collective heads buried in the sand. please think of duncaster and his cronies at this time. Link to comment Share on other sites More sharing options...
Angus Young Posted March 4, 2015 Share Posted March 4, 2015 Here we go. The Board has speci?c concerns about the proposed appointment of Mr King and Mr Murray. Mr King was convicted in South Africa on 41 counts of contravening s.75 of the South African Income Tax Act. Mr King was previously a director of the company that formerly ran Rangers Football Club, The Rangers Football Club PLC. He held o?ce at the same time as Craig Whyte from 2011 until that company entered administration on 14 February 2012. Noting the above and WH Ireland's obligations as a NOMAD,WH Ireland have informed the Board that should Mr King be appointed to the Board, WH Ireland will resign as NOMAD and Broker to the Company with immediate e?ect. In the event that the NOMAD resigns, the Company's shares will be suspended from trading immediately. Under the AIM Rules, the Company will then have one month to replace the NOMAD. The Board is of the view that in the circumstances, there can be no guarantee that a new NOMAD will be appointed. In the event that a NOMAD is not appointed within a month of the suspension of trading, the Company's admission to trading will be cancelled. Accordingly, if this were to occur, the Company would no longer be traded on any Stock Exchange. In the judgement of the Board this is likely to make raising capital both more di?cult and more expensive. There would then be no regulatory oversight of the type to which companies admitted to AIM are subject, and there would be no market for Shareholders to sell their shares. The Board has also had legal advice that the "?t and proper" person requirement of article 10 of the Scottish Football Association's articles of association would be likely to preclude both Paul Murray and David King from becoming a director of The Rangers Football Club Ltd (were they to seek to be elected to the board of that company). This is because the company which previously ran Rangers Football Club went into administration within the last ?ve years and Mr King and Mr Murray were each a director of that company in that ?ve year period. In addition to Mr King's convictions in South Africa and the legal advice which the Board has received about the Scottish Football Association's "?t and proper" person requirement, the Board has a further concern about Mr King which is that his appointment would be in breach of section 216 of the Insolvency Act 1986. Subject to certain limited exceptions, s.216 requires a person to obtain the leave of the Court before becoming a director of a company if, in the preceding ?ve years, that person was a director of a company which went into liquidation whilst they were a director (or within one year of their ceasing to be a director) and the name of the new company of which they wish to be a director is the same as, or similar to, the name of the company which went into liquidation. This section applies to Mr King given he was, at the relevant time, a director of the company which previously owned the Rangers Football Club. This means that if he were to become a director of the Company without such leave then, unless he fell within one of the limited exceptions, he would be committing a criminal o?ence, punishable by imprisonment or a ?ne or both. The Board is not aware that Mr King either has such leave or comes within any of the other limited exceptions to s.216. The Directors are not aware of any similar reason which might preclude the appointment of Mr John Gilligan. However the priority for the Board is to appoint independent directors with capital markets experience and, so far as they know, Mr Gilligan does not possess that experience. The Directors do not rule out the appointment of Mr Gilligan in the future. The Directors recommend that Shareholders vote AGAINST Resolutions 5-7. Clearly the Lying King is Shameless Liar and does not come even remotely close to being a Fit And Proper Person No Nomad should endorse this Criminal nor should the GFA. Link to comment Share on other sites More sharing options...
Alva-Jambo Posted March 4, 2015 Share Posted March 4, 2015 I just wonder... if Ashley has influence on such as Ireland's. He is powerful. Aim is a mickey mouse market. Anything is possible. Is this an Ashley 'bomb'. Link to comment Share on other sites More sharing options...
Don Dan Posted March 4, 2015 Share Posted March 4, 2015 Don't be surprised if there's a court challenge by the current board if and when they get emptied. Based on the letter they have published (above) King and co would do well to defeat it. I don't think they have a leg to stand on. Link to comment Share on other sites More sharing options...
jamboinglasgow Posted March 4, 2015 Share Posted March 4, 2015 Could it be, that by removing Ireland, even if King has lined up a replacement, this will force a delay to bringing in new income by shares, meaning Rangers have no choice but to go ahead with the ?5m uptake of SD money, thus securing Ashleys commercial interests. Link to comment Share on other sites More sharing options...
Sidsnot Posted March 4, 2015 Share Posted March 4, 2015 Clearly the Lying King is Shameless Liar and does not come even remotely close to being a Fit And Proper Person No Nomad should endorse this Criminal nor should the GFA. Exactly right.......but they will,won't they. Link to comment Share on other sites More sharing options...
tartofmidlothian Posted March 4, 2015 Share Posted March 4, 2015 "Got a pen, your Honour?" This is overdue a Link to comment Share on other sites More sharing options...
Abbey Craig Posted March 4, 2015 Share Posted March 4, 2015 The Board has also had legal advice that the "?t and proper" person requirement of article 10 of the Scottish Football Association's articles of association would be likely to preclude both Paul Murray and David King from becoming a director of The Rangers Football Club Ltd (were they to seek to be elected to the board of that company). This is because the company which previously ran Rangers Football Club went into administration within the last ?ve years and Mr King and Mr Murray were each a director of that company in that ?ve year period. In addition to Mr King's convictions in South Africa and the legal advice which the Board has received about the Scottish Football Association's "?t and proper" person requirement, the Board has a further concern about Mr King which is that his appointment would be in breach of section 216 of the Insolvency Act 1986. Subject to certain limited exceptions, s.216 requires a person to obtain the leave of the Court before becoming a director of a company if, in the preceding ?ve years, that person was a director of a company which went into liquidation whilst they were a director (or within one year of their ceasing to be a director) and the name of the new company of which they wish to be a director is the same as, or similar to, the name of the company which went into liquidation. This section applies to Mr King given he was, at the relevant time, a director of the company which previously owned the Rangers Football Club. This means that if he were to become a director of the Company without such leave then, unless he fell within one of the limited exceptions, he would be committing a criminal o?ence, punishable by imprisonment or a ?ne or both. The Board is not aware that Mr King either has such leave or comes within any of the other limited exceptions to s.216. This puts so much pressure on both any future NOMAD AND the SFA in one go. It's almost "allow these 2 in and we will see you in court". This clearly lays out the ground they will fight on. And I have no doubt, fight they will! Link to comment Share on other sites More sharing options...
Alva-Jambo Posted March 4, 2015 Share Posted March 4, 2015 Could it be, that by removing Ireland, even if King has lined up a replacement, this will force a delay to bringing in new income by shares, meaning Rangers have no choice but to go ahead with the ?5m uptake of SD money, thus securing Ashleys commercial interests. Agree. there is more than a bit of co-incidence about all this. I am not pointing at Ireland's, but there also now needs to be a new nomad, who must sell the view to AIM, that King is a sound person to be a Director or owner of a company that they represent. It all stinks. As BBC Sportsound mention, AIM are worried already about 'Rangers'. Link to comment Share on other sites More sharing options...
Don Dan Posted March 4, 2015 Share Posted March 4, 2015 (edited) I'd imagin Ashley will be at the game tonight and he will look totally relaxed, I doubt there will be much on the go at the moment that will give him sleepless nights. Big profit to posted by Newcastle I believe. More champange Mike? Edited March 4, 2015 by Dannie Boy Link to comment Share on other sites More sharing options...
Phil D. Corners Posted March 4, 2015 Share Posted March 4, 2015 So, shares suspended you say? Where does that leave the UK's largest fan ownership group? 2.46% Link to comment Share on other sites More sharing options...
Alva-Jambo Posted March 4, 2015 Share Posted March 4, 2015 I'd imagin Ashley will be at the game tonight and he will look totally relaxed, I doubt there will be much on the go at the moment that will give him sleepless nights. Big profit to posted by Newcastle I believe. More champange Mike? My money is on United. He may have the odd sleepless night. But I doubt it. His dreams will be floating on money and people serving his whims. Sorry, Mr Freud! Link to comment Share on other sites More sharing options...
Footballfirst Posted March 4, 2015 Share Posted March 4, 2015 (edited) Chris McLaughlin ?@BBCchrismclaug 27m27 minutes ago Dave King says he will delay becoming director of #Rangers until due diligence is carried out by regulators. Paul Murray to be interim chair The first sign that Dave King accepts that he will not be given clearance on a nod (and a wink in the SFA's case)? Edited March 4, 2015 by Footballfirst Link to comment Share on other sites More sharing options...
Alva-Jambo Posted March 4, 2015 Share Posted March 4, 2015 (edited) Chris McLaughlin ?@BBCchrismclaug 27m27 minutes ago Dave King says he will delay becoming director of #Rangers until due diligence is carried out by regulators. Paul Murray to be interim chair The first sign that Dave King accepts that he will not be given clearance on a nod? Thats the case because he is stifled by the procedures. Another point to the Ashley side. Edited March 4, 2015 by Alva-Jambo Link to comment Share on other sites More sharing options...
Mysterion Posted March 4, 2015 Share Posted March 4, 2015 Chris McLaughlin ?@BBCchrismclaug 27m27 minutes ago Dave King says he will delay becoming director of #Rangers until due diligence is carried out by regulators. Paul Murray to be interim chair The first sign that Dave King accepts that he will not be given clearance on a nod (and a wink in the SFA's case)? But but but but.... There's no reason why not he said! King back peddling already. Link to comment Share on other sites More sharing options...
Mikey1874 Posted March 4, 2015 Share Posted March 4, 2015 seems like details don't see anything that will stop a takeover by King and the bears much easier and straight forward than for example the transfer of shares from UBIG / UKIO to Ann Budge Link to comment Share on other sites More sharing options...
Don Dan Posted March 4, 2015 Share Posted March 4, 2015 Chris McLaughlin ?@BBCchrismclaug 27m27 minutes ago Dave King says he will delay becoming director of #Rangers until due diligence is carried out by regulators. Paul Murray to be interim chair The first sign that Dave King accepts that he will not be given clearance on a nod (and a wink in the SFA's case)? Read the Boards letter highlighting his deficiencies, unsuitability and the not so veiled threat of court action and keek his breeks. Link to comment Share on other sites More sharing options...
Footballfirst Posted March 4, 2015 Share Posted March 4, 2015 Full statement from King Paul Murray will be Rangers chairman until I?m cleared as fit and proper insists Dave KingTHE club owner-in-waiting has tonight released a conciliatory statement that accepts he must be scrutinised by financial and football rulers.DAVE KING has tonight revealed Paul Murray will be named on Friday as Rangers chairman while the Stock Market and SFA bosses rule on whether he is fit and proper.The Castlemilk-born businessman released a conciliatory statement that accepted he should be scrutinised by financial and Hampden rulers.King, who was a director of oldco that suffered an insolvency event and was found guilty of 41 tax charges, once again thanked the fans for helping him secure the club he has always supported.He also insisted he is ready to "rebuild relationships" with the rest of Scottish football, many of which were damaged by the likes of Charles Green.King, who will be successful in blitzing the current board at the egm in 48 hours, said: "An important issue that was repeatedly (and correctly) raised by the previous board is the need for the regulators to be given time to complete the necessary due diligence on myself - given my intended role as chairman of the company."However, engagement with the regulators can only commence at the specific request of the company and that process can only be initiated on conclusion of the general meeting."It is important that I lead by example following my commitment to transparency and accountability."I will therefore delay acceptance of my appointment as director until the regulators have completed due process."Paul Murray has agreed to act as interim chairman of the company until this process has been concluded. Additional board appointments will be announced in the near future."I again thank fans and shareholders for their support in bringing about the much-needed change that allows our club to progress to a better and more recognisable future."I stressed in previous communications that the club must operate in a transparent manner with the appropriate standard of governance and accountability."I also committed that the club will engage with fan groups to facilitate the continuation of the recent momentum in share purchases so that fans can become a significant voice in the future running of the club. I repeat that commitment."The club must also take this opportunity to rebuild relationships with the football community in Scotland. This will be to the benefit of the club and Scottish football as a whole."King again took a verbal swipe at the existing board?s Nomad WH Ireland, who this afternoon stepped down.He added: "I confirmed my intention to delay taking up my directorship to WH Ireland on Monday."Based on that decision WH Ireland agreed to remain in place to effect a proper handover to the incoming Nomad. I coordinated a call between both parties for this afternoon to effect the initial introduction."However, before this conversation could take place and contrary to our agreement WH Ireland resigned without prior notification to me. That lack of professionalism has characterised WH Ireland?s role as Nomad and reinforces why there was a complete lack of governance and transparency under its watch."Consequently, to WH Ireland?s and the board?s knowledge, it is blatantly dishonest to suggest that my imminent appointment to the board was of concern to them."Fortunately, the general meeting is not affected by the suspension. The new board will proceed to ensure that the listing is resumed as soon as possible."I ask that all who attend the general meeting on Friday do so with the calmness and the dignity that is befitting of this great club." Link to comment Share on other sites More sharing options...
Don Dan Posted March 4, 2015 Share Posted March 4, 2015 "He also insisted he is ready to "rebuild relationships" with the rest of Scottish football, many of which were damaged by the likes of Charles Green." Sorry Dave Rangers have forever damaged and soured any chance of a reconciliation with Scottish football. We've had your lording shit for years and years and we don't want it any more. Link to comment Share on other sites More sharing options...
Don Dan Posted March 4, 2015 Share Posted March 4, 2015 Is Paul Murray not debarred as well? He can't be chairman or on the Board either!!! Link to comment Share on other sites More sharing options...
Deevers Posted March 4, 2015 Share Posted March 4, 2015 "He also insisted he is ready to "rebuild relationships" with the rest of Scottish football, many of which were damaged by the likes of Charles Green." Sorry Dave Rangers have forever damaged and soured any chance of a reconciliation with Scottish football. We've had your lording shit for years and years and we don't want it any more. Severely damaged by David Murray and the board that he was a member of. It will take more than meaningless words from a "glib and shameless liar" to heal that wound. Link to comment Share on other sites More sharing options...
Getintaethem Posted March 4, 2015 Share Posted March 4, 2015 Wasn't Murray also on board when Old Rangers collapsed? Link to comment Share on other sites More sharing options...
Big Slim Stylee Posted March 4, 2015 Share Posted March 4, 2015 Paul Murray:)) Hahaha. It's like bloody groundhog day over there. McCoist back before you know it! Link to comment Share on other sites More sharing options...
Unknown user Posted March 4, 2015 Share Posted March 4, 2015 "He also insisted he is ready to "rebuild relationships" with the rest of Scottish football, many of which were damaged by the likes of Charles Green." Sorry Dave Rangers have forever damaged and soured any chance of a reconciliation with Scottish football. We've had your lording shit for years and years and we don't want it any more. More relevant to him in the short term, the bears won't like that at all, it doesn't fit with the bloodlust Link to comment Share on other sites More sharing options...
Footballfirst Posted March 4, 2015 Share Posted March 4, 2015 "He also insisted he is ready to "rebuild relationships" with the rest of Scottish football, many of which were damaged by the likes of Charles Green." Sorry Dave Rangers have forever damaged and soured any chance of a reconciliation with Scottish football. We've had your lording shit for years and years and we don't want it any more. A poster on Rangers Media agrees with you. "I agree with all apart from building bridges with Scottish football **** that" Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted March 4, 2015 Share Posted March 4, 2015 Wasn't Murray also on board when Old Rangers collapsed?Not at the time of admin. He was within 5 years of it but he has a strong case for passing FPP given that Whyte sacked him for trying to scrutinise what he was up to. Link to comment Share on other sites More sharing options...
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