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Founder Investors still needed at Sevco

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Anyone consuming media coverage would think that the on-going investigation into the registration of Rangers (since renamed RFC 2012) players over the last decade or so was the most pressing matter within The Rangers (until recently, Sevco).  I really don’t think so, although it is a useful rallying flag.  The EBT issue is not short of drama but there are more immediate concerns.

More importantly, I hear The Rangers are still trying to raise the initial £10m Founding Investors capital.  The Sevco Investor Presentation offered these Founding Investors two shares for each one purchased, “effectively doubling their contributions” ahead of a stock-market floatation later this year.  My understanding is they hope to raise £20m at that floatation, without the two-for-one share incentive, in order to see them through several years in the Scottish Football League and at least four years without European income.

If/when this matter materialises, remember, in 1994 Fergus looked you in the eye and allowed you to buy into Celtic at exactly the same rate he and the other early investors did.  This model worked, anyone hoping to emulate Fergus’ success would do well to offer fans the same terms.

The size of the total capital requirement may be as much of a disincentive to early investors as the terms currently on offer.  If you put significant sums in now and the floatation fails to deliver enough cash to allow the company to continue trading, your investment is at risk.  I hope Laurel and Hardy at Hampden haven’t deleted their Armageddon slides.

Even selling 40,000 adult season tickets for Ibrox at £268 each would bring in only £9m (ex-vat), so there is a good chance this company will burn cash reserves for some time, assuming they pay taxes, of course, which was apparently optional for some in the recent past.

Target closing date for Foundation Investors was 6 July with Q3 / Q4 slot for floatation on the AIM market, so we should be seeing a prospectus sometime soon if plans are back on track.  If Charles Green pulls this off he deserves some sort of Businessman of the Year award.

Anyone who thinks the drama is over still hasn’t realised the enormity of the situation.

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  1. Hard luck to the young Celts last night in the NexGen – a home defeat will make it hard to progress from the group.

  2. googybhoy ♥ celtic

     

     

    12:39 on

     

    7 September, 2012

     

    mhark67

     

     

    11:42 on

     

    7 September, 2012

     

     

    Have been in same situation myself here in Manchester actually Bury. Our prices are similar.

     

    Keep the wheels moving mate.

  3. Big Swee walks on with Neil Lennon on

    Great mail from an East Coast footie fan:

     

     

    “Saw this on Hibs.net and thought it would cheer you all up.

     

     

    Title: Its the little things that count

     

     

     

    Was in JD Sports with a guy I work with today. He bought the new Huns 3rd Strip (why do they need 3?).

     

     

    Anyway, I suggested he got his name and a number on the back. After much deliberation, he trots to the counter, and asks for his name and a 10.

     

     

    I felt so sorry for him when the wee girl told him that they couldn’t do numbers for that strip as……………..they only do them for SPL clubs”.

     

     

    Class.

     

     

    Story now called Number Unobtainable!!!!

     

     

    BRAWWWW as Father Michael would say :o)

  4. And what’s happened to Bomber Brown and the Barren Knights? What’s happened to the legal challenge over who owns Ibrox? The demands from our Dave in Africa? Does Ticketus still have a claim over season ticket revenue? So many questions – any new answers?

  5. The Singing Detective Demands The Resignation Of Campbell Ogilvie

     

     

    4th Temple?

     

     

    Is that Biblical? if not throw it in the trash is what I say. ;))

     

     

    ___________________________________________________________

     

     

    Christians are under attack from the right, left and especially the centre. It is the New Age, the same as the Old Age.

     

     

    http://www.youtube.com/watch?v=aEhbsHD7IEY

     

     

    Thank God the Almighty for having Celtic as my club.

     

     

    Buy the biggest and most blatant Cross and wear it to work from now on.

  6. Paul67

     

     

    CSKA Sofia and Red Star Belgrade are ‘supervised’ by UEFA due to monies owed to clubs and players. Both are due an audit by UEFA later this month.

     

     

    I have been told that if someone wishes to use this as a starting point there is a story to be told involving a former club down Govan way…

  7. jude2005 is Neil Lennon \o/ on

    Heard a wee guffer fae Motherwell is abt to ride into town with saddlebags fool with money.

  8. Paul 67

     

     

    What do you think would happen from a – civil disorder perspective if – the bulldozers moved into ibrokes ?

     

     

    I mean,can you imagine hordes of huns standing outside ibrokes, watching the bulldozers – bulldozing the citadel ?

     

     

    After all, look at what the same hun hordes did to the city of Manchester – all because a tv screen failed to work.

     

     

    Hail Hail

  9. P67. From what I am hearing, Octopus are expecting some sort of news in the next few weeks or so with regards to their claim against Agent Whytes Personal Guarantees.

     

     

    With regards to your header, with OldCo kicked off the Plus Exchange, have you heard where NewCo is being listed ?

     

     

    TheGiftThatKeepsGiving

  10. Paul67,

     

     

    As usual, you are exposing their charade, you have been since I joined this site.

     

     

    Celtic are rising, and like a peaceful dove, but the sword of Truth is unbeatable.

     

     

    Keep on Rocking m8.

  11. Paul,

     

     

    I have a grand plan for them. Why don’t sevco offer to buy Ibrox from Scotland. I’m sure the ever helpful Mr Salmond will oblige. They then turn it into a little tax haven for all their staff and pay them all their minus no tax awkward taxes. Alternatively they could do what’s right and burn the place to the ground, apologise for 140 years of existing and disappear into the ether.

  12. Nice one – Analysis of ‘The Rangers’ and their precarious position. Meanwhile all of legacy Hundom are still in WEARRUPEEPUL mode. A-holes.

     

     

    Talking of which, my work place has seen the return of one of said specimens. He’d gone off that radar of theirs and kept anonymity for the last 8 months at his previous work place before returning here. All sheepish at first but reverting to type at an accelerative rate. Today’s latest was the revealing and subsequent pinning to his local location, none other than his A3 sized picture of this realms Queen.

     

     

    Oh and it IS “Rangers then, Rangers now and Rangers forever”. Or as I now gleefully reply “Cheats then, Cheats now and PERHAPS cheats forever”.

     

     

    These dicks just don’t do irony or brain cells for that matter.

  13. DeniaBhoy,

     

    Does Ticketus still have a claim over season ticket revenue?

     

     

    From my discussions with Octopus, I am led to believe as OldCo are gone Ticketus have no claim on the revenue generated from bums on seat (See what i did there?)

     

    Therefore, claim is being made against the personal guaranteed given by the Motherwell Born Billionaire.

     

     

    HH

  14. MWD, good point.

     

     

    Thecelt45, cheers.

     

     

    ASonOfDan, interesting.

     

     

    KevJungle, bulldozers? I hear if you lean against the wrong part…..

     

     

    Ryan\o/D, Newco are aiming for the AIM.

     

     

    petec, sure will, thanks.

     

     

    ohdannysbhoy, that works.

  15. So Paul

     

    First of all they were Rangers

     

    after admin 1 they became The Rangers

     

    after admin 2 might they become The The Rangers?

     

     

    granville ffffff ——etch yer cloth!

     

    HH

  16. jude2005 is Neil Lennon \o/ on

    £128K plus and plenty still to come as well. We are getting there for you OSCAR!! <o))

  17. The investment brochure claims: “Founding investors who put up the first £10,000,000 will receive 10,000,000 additional shares at a value of £1 per share on a pro rata basis effectively doubling their contributions.”

     

     

    The document also claims: “In the very unlikely event a CVA is not agreed by creditors Sevco will pick up Ibrox and Murray Park at a knock down £5.5m.”

     

     

    The document also describes ‘advantages’ to a Newco being banned from Europe for three years, including slashing the first-team wage bill from £18m to around £11m.

  18. Ryan\o/D – Cheers. If Ticketus accept that oldco has gone and they have lost their dosh (can’t see them getting it via Whyte), then surely they would want to now come back in and challenge a club calling itself Rangers playing out of Ibrox wearing blue and saying they are still the same club?

  19. I will be very interested to see exactly what prospective shareholders are being promised in the prospectus.

     

     

    Will it be a share in the football club or will it be worded very carefully to say the share is in the company only.

     

     

    Be good to be able to put the club or company debate to bed. Even though we all know the old club died and what is in SFL3 is simply a new entity playing from the old stadium.

     

     

    Mort

  20. I was at Firhill last night for the Nextgen and enjoyed the

     

    game but was disappointed in the way the game was played by us.

     

    It was similar to those first team European games where, although we’re at home, our opponents enjoyed the greater share

     

    of possession and look more comfortable keeping the ball for

     

    long periods. Celtic on the other hand, passed the ball from side to side in their own half before launching a normally aimless long ball to the forwards. I notice a couple of posters last night mentioned the lack of Celtic subs as opposed to Sporting who used 5.

     

    We’re all aware of the need to change our football to do better against the continents best and I have to wonder if we’re missing a trick by employing Frail and Kennedy as coaches in charge of our youngsters. No harm to either of them, and inparticular Kennedy, who obviously was unable to fulfill his potential but I think it would be of more benefit to bring in

     

    coaches from abroad at younger level. Is it jobs for the boys?

     

    I mentioned this to a Sevco fan in the work and he immediately

     

    said that he felt the same thing at his club with Durrant who has, he said, a reputation as a poor coach.

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