Mysterion Posted November 25, 2015 Share Posted November 25, 2015 The ritual humiliation of Dave King will be joyful and I expect result in him scurrying back to SA for a few years. The return of Donald Park could well be a significant benefit for them. If Park is able to direct the club away from confrontation in business and Football then they might stand a chance at rebuilding the club as well as surviving any residual issues from tax case problems. Link to comment Share on other sites More sharing options...
davieholt Posted November 25, 2015 Share Posted November 25, 2015 The ritual humiliation of Dave King will be joyful and I expect result in him scurrying back to SA for a few years. The return of Donald Park could well be a significant benefit for them. If Park is able to direct the club away from confrontation in business and Football then they might stand a chance at rebuilding the club as well as surviving any residual issues from tax case problems. At least Park would have a chance to re engage with MA with some kind of clean sheet. Probably Rangers only real option. Link to comment Share on other sites More sharing options...
Feeno Posted November 25, 2015 Share Posted November 25, 2015 Here, maybe that boy will be right when he said Mike Ashley saved Rangers Link to comment Share on other sites More sharing options...
Hagar the Horrible Posted November 25, 2015 Share Posted November 25, 2015 Well the NOMADs made it clear he could not be chairman and still allow the company to float on the stock market! so according to the STV (pulled article) if this is true then their AGM will be massive, the other directors can surely not continue to allow the Glib one to continue???? Link to comment Share on other sites More sharing options...
OmiyaHearts Posted November 25, 2015 Share Posted November 25, 2015 Well the NOMADs made it clear he could not be chairman and still allow the company to float on the stock market! so according to the STV (pulled article) if this is true then their AGM will be massive, the other directors can surely not continue to allow the Glib one to continue????Where is this pulled STV article? Is it on record anywhere? Link to comment Share on other sites More sharing options...
Daydream Believer Posted November 25, 2015 Share Posted November 25, 2015 The ritual humiliation of Dave King will be joyful and I expect result in him scurrying back to SA for a few years. The return of Donald Park could well be a significant benefit for them. If Park is able to direct the club away from confrontation in business and Football then they might stand a chance at rebuilding the club as well as surviving any residual issues from tax case problems. I get the feeling that Dave King will only go kicking and screaming, and that he will take down anyone around him and even the club itself if it gives him the chance to put a few more quid in his pocket. Link to comment Share on other sites More sharing options...
Rudolf Posted November 25, 2015 Share Posted November 25, 2015 The ritual humiliation of Dave King will be joyful and I expect result in him scurrying back to SA for a few years. The return of Donald Park could well be a significant benefit for them. If Park is able to direct the club away from confrontation in business and Football then they might stand a chance at rebuilding the club as well as surviving any residual issues from tax case problems. Not a bad wee player in his time but can't see him getting into their starting 11 just now Link to comment Share on other sites More sharing options...
Rods Posted November 25, 2015 Share Posted November 25, 2015 What would the implacations be if it turns out that they were working in a "concert party" Link to comment Share on other sites More sharing options...
Mysterion Posted November 25, 2015 Share Posted November 25, 2015 Not a bad wee player in his time but can't see him getting into their starting 11 just now Good spot! Link to comment Share on other sites More sharing options...
BRAVEHEART1874 Posted November 25, 2015 Share Posted November 25, 2015 To be fair Scot could have been right about Ashley but the sevconians did not want to live within their means and here we are today they are totally skint and as Phil likes to say a loss making 2nd tier club without a credit line from a bank Even if they raise 8.6 million through the unissued shares ( probably lots of fees needed taken of this to ) then 6 million of that is already soon to be needed/ gobbled up paying back park etc. right? So what about Ashley's 5 million? let alone the cally bash for any striker they so badly need and I bet the 2.5 million quoted as needed is well under the actual. Another loan ranger in January to keep the hordes happy? but where's all the dough for the other so called 6 new faces needed for the spfl if they even get there A big sale like last years lewis Macleod ? Can't see their fans liking waghorn or tavernier sold even the thickest would wake up to king. Ashley could have saved them but they were just too watp stupid ! Link to comment Share on other sites More sharing options...
Hagar the Horrible Posted November 25, 2015 Share Posted November 25, 2015 Where is this pulled STV article? Is it on record anywhere? it is claimed in here, no real provenience however it would be rash claim that STV lawyers would over if there was even a shred of untruth ? it WILL come out in the wash though https://johnjamessite.wordpress.com/2015/11/25/kings-greenmail/ Link to comment Share on other sites More sharing options...
OmiyaHearts Posted November 25, 2015 Share Posted November 25, 2015 it is claimed in here, no real provenience however it would be rash claim that STV lawyers would over if there was even a shred of untruth ? it WILL come out in the wash though https://johnjamessite.wordpress.com/2015/11/25/kings-greenmail/ Cheers. Was hoping someone had an image of the article or something similar. Link to comment Share on other sites More sharing options...
269miles Posted November 25, 2015 Share Posted November 25, 2015 I love the argument about Mike's dual ownership claim, Did Craigy Bhoy not sell off the Arsenal shares to prevent also such a claim???? In this case this was actually a football club part owning another? Craig did have some foresight there, and I am sure (being facetious) he only had the future of the club in mind....erhmmm Dual standard though, Still in all of this Mike can afford to play games, allow little victories here and there, in the end he has already won, he is just divvying up the spoils, Fraudco are facing massive legal fees, already eating into soft loans they have yet to secure! Rangers had held the Arsenal shares for the best part of a century (they were gifted by Arsenal as a goodwill gesture , I think). CW sold them because they were worth a bloody fortune. That's all. The number of shares available to buy in Arsenal are/ were very, very small and guys like Kroenke were offering astronomical sums to buy them in order to get control at Arsenal. Link to comment Share on other sites More sharing options...
269miles Posted November 25, 2015 Share Posted November 25, 2015 What would the implacations be if it turns out that they were working in a "concert party"Very naughty. I think their shareholding collectively would mean they'd have to offer to buy the rest of the "company". I'm sure FF can clarify , as our resident expert. Link to comment Share on other sites More sharing options...
Joey J J Jr Shabadoo Posted November 25, 2015 Share Posted November 25, 2015 To be fair Scot could have been right about Ashley but the sevconians did not want to live within their means and here we are today they are totally skint and as Phil likes to say a loss making 2nd tier club without a credit line from a bank Even if they raise 8.6 million through the unissued shares ( probably lots of fees needed taken of this to ) then 6 million of that is already soon to be needed/ gobbled up paying back park etc. right? So what about Ashley's 5 million? let alone the cally bash for any striker they so badly need and I bet the 2.5 million quoted as needed is well under the actual. Another loan ranger in January to keep the hordes happy? but where's all the dough for the other so called 6 new faces needed for the spfl if they even get there A big sale like last years lewis Macleod ? Can't see their fans liking waghorn or tavernier sold even the thickest would wake up to king. Ashley could have saved them but they were just too watp stupid ! It was only 2 weeks ago Warburton was talking about making million pound signings. Shame. Link to comment Share on other sites More sharing options...
Hagar the Horrible Posted November 25, 2015 Share Posted November 25, 2015 Rangers had held the Arsenal shares for the best part of a century (they were gifted by Arsenal as a goodwill gesture , I think). CW sold them because they were worth a bloody fortune. That's all. The number of shares available to buy in Arsenal are/ were very, very small and guys like Kroenke were offering astronomical sums to buy them in order to get control at Arsenal. I wasn't being serious, but you are right about the shares, they were a goodwill gift, CW just asset striped them Link to comment Share on other sites More sharing options...
...a bit disco Posted November 25, 2015 Share Posted November 25, 2015 Link to comment Share on other sites More sharing options...
Footballfirst Posted November 25, 2015 Share Posted November 25, 2015 (edited) Very naughty. I think their shareholding collectively would mean they'd have to offer to buy the rest of the "company". I'm sure FF can clarify , as our resident expert. If an individual, or a group of individuals acting in concert (a concert party) acquires 30% of a company, then they are obliged to make an offer to all other shareholders to buy their shares at the highest price paid by the buyer(s) in the preceding 12 months. 30% is the threshold set in Company Law that a party is deemed to exert a controlling influence on a company. So, in effect, acquiring 30% or more is deemed to be a takeover bid, which should be offered to all other shareholders on the same terms. The other shareholders don't need to accept the offer, though. (Bidco was obliged to make a similar offer to Hearts shareholders when they acquired the shareholdings of Ukio and UBIG) King currently has an interest in 14.57% and the Three Bears 19.48% combined. If they were deemed to be operating "in concert", then their combined holding would be 34.05% and they would be obliged to offer to buy the other 65.95%. King paid 20.1p a share and the Three Bears 20p a share for their holdings on 2/1/15 and 31/12/14 respectively. If an offer was made then there would be the potential to have to come up with ?10.8M to buy the other 57.7M shares, which none of them can afford, nor would it put new money into the club. I honestly can't see there being a concert party ruling now, unless it comes up in one of the ongoing court cases. If it was going to happen it would have occurred at the time of the EGM in March when King & Co took control. Edited November 25, 2015 by Footballfirst Link to comment Share on other sites More sharing options...
Stuart Lyon Posted November 25, 2015 Share Posted November 25, 2015 They were given the Arsenal share in recognition of having helped Arsenal with some financial support Rangers came to Arsenal's aid during a financial crisis, buying two shares at the time. Twenty years later the London club handed Rangers 14 shares for free in gratitude for their help, cementing a relationship between the two clubs. Link to comment Share on other sites More sharing options...
LeftBack Posted November 25, 2015 Share Posted November 25, 2015 If an individual, or a group of individuals acting in concert (a concert party) acquires 30% of a company, then they are obliged to make an offer to all other shareholders to buy their shares at the highest price paid by the buyer(s) in the preceding 12 months. 30% is the threshold set in Company Law that a party is deemed to exert a controlling influence on a company. So, in effect, acquiring 30% or more is deemed to be a takeover bid, which should be offered to all other shareholders on the same terms. The other shareholders don't need to accept the offer, though. (Bidco was obliged to make a similar offer to Hearts shareholders when they acquired the shareholdings of Ukio and UBIG) King currently has an interest in 14.57% and the Three Bears 19.48% combined. If they were deemed to be operating "in concert", then their combined holding would be 34.05% and they would be obliged to offer to buy the other 65.95%. King paid 20.1p a share and the Three Bears 20p a share for their holdings on 2/1/15 and 31/12/14 respectively. If an offer was made then there would be the potential to have to come up with ?10.8M to buy the other 57.7M shares, which none of them can afford, nor would it put new money into the club. I honestly can't see there being a concert party ruling now, unless it comes up in one of the ongoing court cases. If it was going to happen it would have occurred at the time of the EGM in March when King & Co took control. Holding hands up to ignorance here. But - there seems a genuine possibility that King and the Three Bears were in concert (there must have been some dialogue) and Ashley knew this but wanted to wait until after EGM to see if there was the possibility of an amicable (ie lucrative) solution. Relationships have now deteriorated to such an extent - maybe because Ashley was unaware of how big a charlatan King really was - that the court cases are now exactly the right time to unveil the smoking gun which will see everything cave in on King. Have always said that whatever happens from now Ashley will categorically not be a loser and his street-fighting business approach makes him an unbeatable opponent in this scenario. Link to comment Share on other sites More sharing options...
kingdannyb Posted November 25, 2015 Share Posted November 25, 2015 King pops into Hampden just to say hello. Quick video also in the link. Obviously this means they're going to be liquidated tomorrow ..... http://www.bbc.co.uk/sport/0/football/34921891 Rangers chairman Dave King pays visit to SPFL Use accessible player and disable flyout menus Jump media player Media player help Out of media player. Press enter to return or tab to continue. Rangers chairman Dave King has been at Hampden today for a private meeting with the SPFL. He insists it was brief and simply a "courtesy call". "It was just really a private meeting just for me to introduce myself to them," he told BBC Scotland. "I hadn't met them before. It was very much casual... It was just coming in and saying hi and talking to them." King refused to comment on other issues surrounding Rangers. Link to comment Share on other sites More sharing options...
Don Dan Posted November 25, 2015 Share Posted November 25, 2015 King pops into Hampden just to say hello. Quick video also in the link. Obviously this means they're going to be liquidated tomorrow ..... http://www.bbc.co.uk/sport/0/football/34921891 Rangers chairman Dave King pays visit to SPFL Use accessible player and disable flyout menus Jump media player Media player help Out of media player. Press enter to return or tab to continue. Rangers chairman Dave King has been at Hampden today for a private meeting with the SPFL. He insists it was brief and simply a "courtesy call". "It was just really a private meeting just for me to introduce myself to them," he told BBC Scotland. "I hadn't met them before. It was very much casual... It was just coming in and saying hi and talking to them." King refused to comment on other issues surrounding Rangers. Should he not have met them face to face when the "fit and proper persons" test was on the go? Link to comment Share on other sites More sharing options...
Justin Z Posted November 25, 2015 Share Posted November 25, 2015 Certainly seems like that ought to be part of the process, eh? Link to comment Share on other sites More sharing options...
Feeno Posted November 25, 2015 Share Posted November 25, 2015 (edited) Hands up who believes it was just a courtesy call?? Edited November 25, 2015 by Feeno Link to comment Share on other sites More sharing options...
Justin Z Posted November 25, 2015 Share Posted November 25, 2015 Link to comment Share on other sites More sharing options...
Armageddon Posted November 25, 2015 Share Posted November 25, 2015 Should he not have met them face to face when the "fit and proper persons" test was on the go? The boy sounds like his club dug has just died. Link to comment Share on other sites More sharing options...
Armageddon Posted November 25, 2015 Share Posted November 25, 2015 Why were the cameras there??? I've been to Hampden loads and the media guys don't just hang around, rumours must be circulating. Link to comment Share on other sites More sharing options...
davieholt Posted November 25, 2015 Share Posted November 25, 2015 I honestly can't see there being a concert party ruling now, unless it comes up in one of the ongoing court cases. If it was going to happen it would have occurred at the time of the EGM in March when King & Co took control. FF. But if it now comes to light that King borrowed the cash to buy his stake and he borrowed it from any of the 3 bears, would that not strongly indicate a concert party? At the time of the EGM there was no such suggestion. Link to comment Share on other sites More sharing options...
Hackney Hearts Posted November 25, 2015 Share Posted November 25, 2015 "It was very much casual... It was just coming in and saying hi" I guess he's at a bit of a loose end, eh? Poor guy. Nothing much to do in Glasgow on a chilly Wednesday morning in November. Link to comment Share on other sites More sharing options...
swavkav Posted November 25, 2015 Share Posted November 25, 2015 Why were the cameras there??? I've been to Hampden loads and the media guys don't just hang around, rumours must be circulating. Some thing must be about to blow, an insider giving out info also. Link to comment Share on other sites More sharing options...
I P Knightley Posted November 25, 2015 Share Posted November 25, 2015 If an offer was made then there would be the potential to have to come up with ?10.8M to buy the other 57.7M shares, which none of them can afford, nor would it put new money into the club. At the same time, there's no compulsion on the other shareholders to accept the offer. It usually works that, in building up the 30%, shares are bought at a significant premium, making the price offered to the remaining 70% attractive. 20p has never been attractive for Rangers (not if you're selling) so King could go for the biggest bluff of his life and make the offer with an empty piggy bank. I'm not sure whether, when making the offer, he'd have to prove he has the money to fund it. There's also the small matter that, if a concert party was adjudged to have been in place, he'd be up on criminal charges. In short - if he's borrowed off the 3Bs, he's Donald Ducked. Link to comment Share on other sites More sharing options...
Toxteth O'Grady Posted November 25, 2015 Share Posted November 25, 2015 (edited) No smoke without fire When is pay day? Edited November 25, 2015 by Toxteth O'Grady Link to comment Share on other sites More sharing options...
Phil D. Corners Posted November 25, 2015 Share Posted November 25, 2015 I guess that means he will be attending the AGM. Link to comment Share on other sites More sharing options...
The Mighty Thor Posted November 25, 2015 Share Posted November 25, 2015 I guess that means he will be attending the AGM. It'll be cold in the Gazebo this time of year. I hope he's packed a scarf. Link to comment Share on other sites More sharing options...
Jambo 4 Ever Posted November 25, 2015 Share Posted November 25, 2015 I guess that means he will be attending the AGM. When is their AGM? Link to comment Share on other sites More sharing options...
Jambo-Jimbo Posted November 25, 2015 Share Posted November 25, 2015 When is their AGM? This Friday. Link to comment Share on other sites More sharing options...
buzzbomb1958 Posted November 25, 2015 Share Posted November 25, 2015 You do not turn up at Hamdump on a social visit ,I'd say bad news imminent for the teddy's fingers crossed Link to comment Share on other sites More sharing options...
Stuart Lyon Posted November 25, 2015 Share Posted November 25, 2015 Big Mike launches another attack http://www.dailyrecord.co.uk/sport/football/football-news/mike-ashley-aims-new-blast-6899984 Link to comment Share on other sites More sharing options...
DETTY29 Posted November 25, 2015 Share Posted November 25, 2015 He asking the SPFL for ?5m to pay off Mike. He'll pay them back from a successful share issue. Link to comment Share on other sites More sharing options...
RobNox Posted November 25, 2015 Share Posted November 25, 2015 No smoke without fire When is pay day? Tomorrow Link to comment Share on other sites More sharing options...
buzzbomb1958 Posted November 25, 2015 Share Posted November 25, 2015 Tomorrow. Obviously why they welcomed Park on board again,needed someone to ante up the wages Link to comment Share on other sites More sharing options...
jambovambo Posted November 25, 2015 Share Posted November 25, 2015 (edited) @Pmacgiollabhain: Doors kicked in... https://pbs.twimg.com/media/CUrj98zXIAAZsEb?format=pjpg&name=large Edited November 25, 2015 by jambovambo Link to comment Share on other sites More sharing options...
Toxteth O'Grady Posted November 25, 2015 Share Posted November 25, 2015 @Pmacgiollabhain: Doors kicked in... https://pbs.twimg.com/media/CUrj98zXIAAZsEb?format=pjpg&name=large What is that all about? Link to comment Share on other sites More sharing options...
papa jambo Posted November 25, 2015 Share Posted November 25, 2015 @Pmacgiollabhain: Doors kicked in... https://pbs.twimg.com/media/CUrj98zXIAAZsEb?format=pjpg&name=large the above appears to refer to a post on P Mac's web site dated 6/5/2015 Link to comment Share on other sites More sharing options...
Mysterion Posted November 25, 2015 Share Posted November 25, 2015 What is that all about? It's highlighting how wrong Keith Jackson called things a few months back. Basically suggested Ashley's attempts at controlling Sevco were over... the reality suggests otherwise. Link to comment Share on other sites More sharing options...
The Mighty Thor Posted November 25, 2015 Share Posted November 25, 2015 Keith Jackson found to be talking shite? Link to comment Share on other sites More sharing options...
Wilson Posted November 25, 2015 Share Posted November 25, 2015 http://wp.me/p6pBEY-1l Interesting to see an alternative take on MA motives . Blinkered IMHO. Link to comment Share on other sites More sharing options...
i wish jj was my dad Posted November 25, 2015 Share Posted November 25, 2015 Even Richard Wilson wasn't falling for King's shite. I hope he takes Doncaster, Regan, Ogilvie and everybody else involved in the stitch up down with him. Link to comment Share on other sites More sharing options...
Seymour M Hersh Posted November 25, 2015 Share Posted November 25, 2015 Keith Jackson found to be talking shite? Nothing to see there. Move along please. Link to comment Share on other sites More sharing options...
niblick1874 Posted November 25, 2015 Share Posted November 25, 2015 Now I'll get the popcorn in, to watch the blazers squirm and puke and bask in saveco's demise. Link to comment Share on other sites More sharing options...
Recommended Posts