There was never any doubt that Honest Dave King would be ordered to make an £11m offer to minority shareholders in Newco Rangers after an enforcement today by the Takeover Appeals Board.
King’s counsel claimed he was “penniless” and unable to make good on the offer, which is a legal requirement on any individual or individuals acting in concert, acquire 30% of a company. I initially considered it was unlikely that many shareholders would accept the 20p price, but the Sinking Ship Scenario is in play. This may be shareholders last chance to recover any investment in Rangers Mark II.
Of course, none of this would have happened if they stuck with the Easdales and Mike Ashley, or Charles Green and Mike Ashley, of anyone else who was able to employ a Nomad or attract tens of millions of pounds investment. But glib and shameless Geppetto wanted control and he pulled all the right strings.
Have a great weekend and enjoy the game tomorrow.
SATURDAY MORNING UPDATE – NEW CQN PODCAST OUT NOW! CHRISTMAS JUMPERS FOR GOALPOSTS…
Why not treat yourself to a signed copy of Jim Craig’s excellent new Lisbon Lion Diary Right Back to 67 (order HERE) and we’ll give you a FREE copy of That Season in Paraidse signed by Bertie Auld. So both signed books will cost just £18.88 including first class post!