Charles Green and his initial backers have achieved a remarkable result with what is already evident in their prospectus. Page 66 notes: “In the period to 31 August 2012, a total of 25,340,000 shares were issued for a total consideration of £7,719,000”, issued at approximately 30.4p per share. At a price of 70p per share these shares would be worth £17.738m, a cool £10m profit.
Since that August date Green has enjoyed something of a windfall. Page 83 notes, “The contractual right to an option over 10 per cent. of the enlarged ordinary share capital of RFCL was exercised by Charles Green on 31 October 2012 by a partial exercise notice pursuant to which 5,000,000 ordinary shares of 1p each in RFCL were issued to Charles Green on 31 October 2012.”
That’s 5m shares, worth 70p each, which is a stunning £3.5m to add to the above £10m!
Have you heard how great the CQN Annual is? You can order online here, not many posting days left before Christmas!
Next month a raft of new bodies will have notifiable shareholdings, specifically: Hargreave Hale, Artemis Investment Management, Cazenove Capital Management, Legal & General Investment and Insight Investment Management, all of whom will seek returns for their money.
2012 was the year Rangers were liquidated. It was also the year the assets were snatched from the grasp of an array of Rangers fans by people who saw an opportunity.
2013 will bring an SPL Commission and Upper Tier Tribunal issues for oldco but the consequences of these share issues will determine the performance of newco for decades to come. I think you and me should keep quiet about this. Let Charlie carry on and do what he needs to do over the coming weeks.[calameo code=00039017193b8a8bbd612 lang=en page=126 hidelinks=1 width=100% height=500]