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Founder Investors still needed at Sevco

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By on CQN BLOG & Comments

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. Tim Malone Will Tell on

    See I missed the ole CQN best film debate last night.

     

     

    Has to be Lawrence of Arabia – stunning epic filmed magnificently. The scene where he is on the shore at Akaba (?) with the sea lapping at the sand is a thing of beauty.

  4. bankiebhoy1 on

    Fresh and clear in the Rebel County, just a hint of autumn……..

     

     

     

    (btw….. can we get McCrummoch ooot by Christmas?)

     

     

     

    ….that would help a lot.

     

     

    HH.

  8. 50 shades of green on

    Morning folks

     

     

    anyone in the ek area today with nothing to do.

     

     

    there is a charity friendly (aye right ) match between Celtic supporters and supporters of yon deed mob at whitemoss 3g pitch at 2pm.

     

     

    its all guys who play in the ek pool league and over the years they have raised thousands for local charity.

     

     

    come along and watch it folks everyone is welcome.

     

     

    bound to be more action here than at hampden.defo be more fouls :-).

     

     

    hail hail

     

     

    iseedeadpeoplecsc.

  10. West Wales Celt on

    Favourite film?

     

    Got to be Reds with Beatty and the beautiful Diane Keaton (those eyes!).

     

     

    Best line: Zinoviev, ‘and who defines this truth? You, or the party?’

  11. ItaliaBhoy on

    Best film?

     

     

    Lawrence of Arabia.

     

    Bicycle Thieves

     

    Cinema Paradiso

     

    Dog Day Afternoon.

     

    Godfather Part Two

  13. "THERE IS ONLY ONE TEAM IN GLASGOW" aka "@67MOULDY67" on

    OSCAR KNOX APPEAL 

     

     

     

     

    Hello , just to let you know that I will be taking  part in a 50 mile cycle from Glasgow to Edinburgh, 09/09/2012

     

     

    where I would hope to be able raise some funds for “Wee Oscar Knox” who is 3 year old kid and is not keeping very well just now.

     

     

    You can read Oscar’s story on web link below….

     

     

    http://www.justgiving.com/Team-Oscar-Knox-Appeal-Cycle-09092012-Paul-Muldoon

     

     

    all donations are welcome and appreciated 

     

     

    please pass on oscar’s story 

  15. Summa of Sammi.... on

    .

     

     

    BT..

     

     

    I Understand.. But he had Just came on as a Sub and it’s a Totally different Injury..

     

     

    We will Miss him Big time in the Champions League..

     

     

    His Vast Expierience with Greece has Made Him the Players he is..

     

     

    Not playing Raith I’m the Ole Ramsden Cup..

     

     

    Anyone.. If its 6 weeks will he Miss 2 or 3 Games ..? Which games..?

     

     

    Summa

  16. iki on

    One lesson that should have been learned a long time ago from Whitstheirname FC ……. players are not fit before an international game but fit afterwards.

     

    We seem to do the opposite.

  18. West Wales Celt on

    Beautiful Life. Italian film which is guaranteed to make you laugh and cry in equal measure. Blew me away…

  20. bankiebhoy1 on

    …just read back………

     

     

     

    ..disappointed for Us and Sammi….he was a good bet for Champs League……

  21. The Singing Detective Demands The Resignation Of Campbell Ogilvie on

    Withnail & I….?

     

     

    Oh Come,Now ! Be Honest….My Green Fingered Pal….

     

     

    It Just HAS to be “Brideshead Revisited”!

     

     

    With All Its Catholic Themes Social Class Envy,And De-Construction….

     

     

    Wee Bit Of ‘Socialist Prejudice’ Here..?

     

     

    Sebastian,Charles Ryder,Bridie,Julia & Cordelia,Alex Mottram,Anthony Blanche, Lady Marchmaine,Samgrass………Not Forgetting Aloysius….

     

     

    Surely….?

     

     

     

    http://2.bp.blogspot.com/-6oSWDH5dkxA/TdguGiWZ80I/AAAAAAAACQo/i4lgxaaKKa4/s1600/england2.jpg

  22. 50 shades of green on

    best movie

     

     

    there can be only one

     

     

    Highlander :-)

     

     

    christopher Lambert. with the worst scottish accent ever.{apart from gough and golam the flying pig of course}

     

     

    also being a fan of queen helps i suppose. it was a kind of magic for me.

     

     

    other than that the green mile and my old das fav the quiet man .

  23. The Honest Mistake loves being first on

    Best films; a tough question and the response would change on a daily basis.

     

     

    Top three just now:

     

    Gregory’s girl

     

    City of god

     

    Amelie

  26. The Honest Mistake loves being first on

    Italiabhoy and wwcelt.

     

    Malena also A fantastic film with a mixture of laughs and tears….. Plus Monica belluci is stunning in the film.

  29. Summa of Sammi.... on

    If Sammi it Out 6 weeks he Should be Back just before we Face Barcà 23rd Oct..

     

     

    Here is Fixtures for 6 Weeks..

     

     

     

    15/09St JohnstoneClydesdale Bank Premier League12:30A

     

     

    19/09BenficaUEFA Champions League19:45H

     

     

    22/09DundeeClydesdale Bank Premier League15:00H

     

     

    25/09Raith RoversScottish Communities League Cup19:45H

     

     

    29/09MotherwellClydesdale Bank Premier League15:00A

     

     

    Oct 2012

     

    02/10Spartak MoskvaUEFA Champions League17:00A

     

     

    07/10Heart of MidlothianClydesdale Bank Premier League12:45H

     

     

    20/10St MirrenClydesdale Bank Premier League15:00A

     

     

    23/10BarcelonaUEFA Champions League19:45A

     

     

     

    Summa..

     

     

    Come on Sammi come Back and Slau them..

  31. Tallybhoy on

    On the subject of investing in a football club, this is what was raised when Fergus and the rhebels took control of the club in 1994:

     

     

    Fergus McCann £9.2 million

     

    Dermot Desmond £4 million

     

    John Keane and Albert Friedberg £1 million each

     

    Willie Haughey and Michael McDonald 500k each

     

    The Celtic supporters £10 million!!!

     

     

    Total £26.2 million!!

     

     

    When our club was in a perilous state and on the verge of being wound up, there were people prepared to take a risk and save it! Not fly-by-night chancers like Green, and rabble rousers like the Bummer!

     

     

    Some 10,000 Celtic supporters also invested, some who borrowed the money to buy shares.

     

     

    Green is now saying that there might not now be a share flotation after all.

     

     

    To be allowed to have a share flotation and be listed on the AIM I was under the impression that a company had to have at least 3 years of fully audited accounts! Where are they?! They don’t exist! And where are the other investors? Have they been named yet?

     

     

    It’s all pie in the sky!

     

     

    Hope Hector and BDO are keeping a close watch on what is going on!

     

     

    HH!!

  32. Parkheadcumsalford on

    Morning all from yet another bleak day in North Ayrshire.

     

     

    Am I the only person on the west coast of Scotland who is sick to the back teeth of the smug BBC news and weather people down souff chuntering on about the beautiful weather, although it is going downhill on Monday. MONDAY!!! It has been miserable here for weeks. They should remember they are broadcasting to the whole of Britain. Who exercises editorial control over these people?

     

     

    While I have no respect for any of those who control our game here in Scotland, I still hope we win this afternoon. Mind you, I am happy that Charlie Mulgrew and Scott Brown are not taking the field. How many of our internationalists were injured yesterday?

  33. SK-Bhoy on

    Hello from sunny Slovakia. Very angry with Sammi injury. It is just fertilising (spelling? ) conspiracy theory “Have you seen Sammi and Lassad together in one room and in one moment?” ;) But seriously it is blow 4 us on other hand it might be oportinity 4 news bhoys.

  34. mammymabawsburst on

    Sun trying to break through in Coatbridge. Up in Scotia for a wedding, hope it shines this afternoon.

     

     

    I couldn’t pick a favourite movie even if I tried very hard – watched so many great ones.

     

     

    HH

  36. Estadio on

    One flew over the cuckoo’s nest!

     

     

    Lost ma glasses so I hope that says “one flew over the cuckoo’s nest”

     

     

    Hail Hail

     

     

    Estadio

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