Founder Investors still needed at Sevco


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. SonsOfErin


    15:16 on


    7 September, 2012


    Aikibhoy – But there’s nothing in the quotes to suggest he’s been offered a pay cut, only in the sensational headlines





    Yes that is very true about the media.



    I have faith that the issue can be resolved between Thomas and Celtic.

  2. 67Heaven ... I am Neil Lennon..!!.. Ibrox belongs to the creditors on

    Barcabhoy ……… That IS good news…!!!

  3. BT



    Your actions at the cash dispenser are what make you the man you are.



    Also I happen to know that you prefer Smartprice Cider :-)))

  4. ASonOfDan



    15:18 on 7 September, 2012






    The world seriously does not need to hear philvisreturns








    I totally disagree, Scotland needs humour like the phi-Man.



    Our kids are waiting to be the next Lionel, we have hun media distorting the message to our kids.



    Once Rangers and their Cancer is eradicated then Scotland will start to Flourish again.



    It is like AweNaw or Maggie McG has said before (and apologies for not remembering specifically) they have to be eradicated, totally.



    It still has a wee bit of mileage to go yet.

  5. HT


    cheers mate..



    mini doesn’t allow me to but that stuff..



    It has to be Strongbow, Magners, Cidre etc…



    anything but smartprice…o))

  6. This may already have been posted or commented on.



    If Rangers are planning to list on AIM, thats the London Stock Exchange right?



    Well they have to meet certain requirements to do so, and I dont think that they can meet any of them.



    London Stock Exchange: The main market of the London Stock Exchange has requirements for a minimum market capitalization (£700,000), three years of audited financial statements, minimum public float (25 per cent) and sufficient working capital for at least 12 months from the date of listing.



    Anybody else have doubts that they should be able to list on the stock exchange?



    Call me whatever you want but shouldn’t someone really be looking out for these poor deluded exRangers fans who are going to put their money into this !!!!!!!!!!!!

  7. injuries



    does seem to be an ongoing problem with us and injuries



    i recall Newcastle having similiar problems and completely changed there surfaces and dont seem to have had as many injuries since



    so maybe we do need to have a look at Lennoxtown



    however a lot of injuries do seem to have happened in games but Rogne was listed as sub v helsingborg wed yet couldnt play v hibs sat but plays on monday for u/21s?



    there was also paddy recently was unused sub in a game yet 3 days later he wasnt in pool due to injury and yet again after having pretty ineffective 60 mins v hibs comes off with no injury apparently yet i see he has pulled out of international with another injury



    i dont know answer but it certainly needs examaning

  8. Greenwells Glory on

    Barcabhoy, Salve salve;- A very pertinent and thought provoking post. While I myself do not really care what becomes of the corpse of the now extinct team from Govan, I will admit to finding the whole affair tremedously amusing. The present manifestation of the Govanites is if anything even funnier than the previous incarnation and for some reason every time I see Charlie (not a bhoy) I find myself thinking of Wilfrid Pickles. Sometimes I cannot help it and just let out a loud guffaw.


    Btw I remeber a while back you posting references to a nuclear event in the pipeline concerning our erstwhile chums, has this occurred yet? or is it still likely to occur?


    Or even better are you in a position to furnish us with a little more detail?


    Anyhoo Your posts are always interesting and make worthwhile reading.






    Ridentem dicere verum quid vetat

  9. blantyretim


    15:27 on


    7 September, 2012




    cheers mate..



    mini doesn’t allow me to but that stuff..



    It has to be Strongbow, Magners, Cidre etc…



    anything but smartprice…o))






    Aye ye sound so hard done by :-))))

  10. blantyretim


    15:11 on


    7 September, 2012


    Hero or eeejit?




    Disgusted that you even thought about it…………………….unless she was wearing


    a retro top ,of course.

  11. The Rogne discussion should be put on hold until we are a little better informed about the contract offer and his grievance.


    From what I have read on here, I am not clear about either and I note who is the author of the article.

  12. The Prince of Goalkeepers on



    15:27 on 7 September, 2012



    I believe the AIM is a sub-market of the LSE, for smaller companies. I think its also the market Celtic are listed on.

  13. weeshauns freekick that decked b bag barry on

    I apologise for my error you used ours instead of we, you’ll have to concede that my point is still valid because ours is as plural as we.



    Secondly I admire your stubbornness with regard to your blatantly incorrect assumption about spaces and comma. Surprised you haven’t pulled EVERY SINGLE other poster for making the same “error” (was that correct use?) in fact it appears that everyone else on the internet is making the same “error”



    So why don’t you get over yourself as I said to you at the start, this gatekeeper role is obviously too much for you mate.



    Might want to get a spell checker first has a t in it.



    And shouting that there is NEVER a space after a comma doesn’t stop you from being 100% wrong and also in a majority of one when you insist you are still right (bit of a nasty habit with you bud). But then we just get back to that god complex don’t we? It also backs up that you can’t teach someone who knows everything anything quote that I have flung out there for you. Seems you never caught on.



    Take a breath before you type, spell check and get someone to explain the comma space rule when typing. You’ll put me in my place next time I’m sure of it.




  14. I have had many parking ‘fines’ from the likes of Tesco and motorway services.



    They are worded/disguised as if it is a fine but that word is never used, usually they mention ‘charges’. I regard these as an invoice for something I have not ordered and reply as such asking them for my order reference.



    They usually send another couple of reminders with threat of court action. But as has been pointed out they do not follow it up because they have to prove some sort of loss of income and that you deliberately refused to pay a parking charge on the day.



    They eventually send you a letter saying they will let you off this time.

  15. The Prince of Goalkeepers on

    weeshauns freekick that decked b bag barry


    15:33 on 7 September, 2012



    On the space after a comma discussion, I don’t recall that ever being an issue until MS Word grammar correction tool (or whatever its called) started highlighting this as the thing to do.



    If we’re leaving setting the of rules of grammar to the Americans we’re all in trouble…

  16. Barcabhoy



    You sound like one of those timmy acountant/financial experts


    the bears on FF warned us about this time last year.




  17. The feeling i’m getting is too many guys with recurring injuries,could be wrong diagnosis rather than alleged dodgy surfaces.IMO Rogne has proved he has the right stuff,still young and playing in a position where they dont peak til late 20s.

  18. Old Narrowboat Tim Only Surfaces Long Enough To Steal Podium From Philvis..



    Now Maintaining Radio-Silence,As He Crosses The ‘Pond’, Submerged…On His Top Secret Mission Tae Put A Coupla ‘Tin-Fish’ Into The Bows Of The S.S.”Maggie McGill”….



    “Itch Exclusion Zone” ,Or No….






    Buenos Dias , Kojo….!

  19. Steinreignedsupreme on

    Paul 67 –



    Nothing has changed in how the Ibrox club are presented and, ahem … defended.



    Here they are signing ‘stars’, ‘splashing cash’, almost ‘selling-out home games’, producing yet another crop of ‘wonder kids’, with a queue of ‘billionaires’ wanting to buy into the Scottish Third Division and with a ’15,000 waiting-list for season tickets’ no less. Everything is rosy in their garden while the rest of Scottish football suffers.



    This is the agenda being enthusiastically presented by the media. If you happen to have an ounce of common sense you simply laugh-off this ludicrous rubbish and wait for the fun to happen. HMRC have not even started on them yet. The titles have still to be stripped and the novelty of playing in the fourth-tier of Scottish football has still to wear off.



    Meanwhile the characters who speak on behalf of the fans are buying into the dream because nobody else is around to take them by the hand and point out the obvious pitfalls. They weren’t kidding when they were shouting “We’re right behind you Bomber” and “We’re looking for a leader”. They don’t need any further distractions at the moment though as they are too busy criticising a book they haven’t read…

  20. weeshauns



    I can tell you are still in shock after witnessing that horrible accident midweek,


    you typing gibberish,or is that just you?


    How’s your bud getting on?His name doesn’t happen to be ‘Joshbhoy’ perchance?

  21. petec



    You can release philvisreturns gems of wisdom at the next Conservative Party conference…

  22. The Singing Detective Demands The Resignation Of Campbell Ogilvie



    15:38 on 7 September, 2012



    And Scotland definitely needs the humour of your god self.


    WEE SHAUN 1533



    I don’t make spelling errors,though I am prone to the occasional typo.



    You seem to have a wee,erm,complex about this God complex of which you speak so frequently.



    I won’t bother asking you to explain it.



    I have a feeling it will be a tiny little part of the 6,000 page thesis to which you earlier alluded.



    Well done,old boy. I congratulate you. Glad to know your time has been spent well.



    However,instead of offering copies left,right,and centre-as you did the other night-I suggest you think of the environment.



    Even a vanity print would be an ecological disaster.

  24. weeshauns freekick that decked b bag barry on



    15:40 on


    7 September, 2012





    don’t know what you r point is mate got on the line 2 train under placa catalunya at 9.15 that night got to St Joan Despi and thats where it happened sure you could ask a trustworthy barca resident if you doubt me, or is it just you have to keep making fun of anothers death, because you are a sociopath?



    Get oot yer boyfriends bahooki it’s low and sad he’s meant to be a big boy.

  25. ASonOfDan



    philvisreturns, from what I have read, and I am being honest, I skip a lot of people’s posts (sorry) because I just don’t have time to read them all, is very disillusioned about the Conservative party.



    That says to me he is strong willed and he should definitely stay away from Cameron Milliband’s next Middle ground appeasement Conference.

  26. BT



    Think some of the internationals are being played tonight so would expect something to be on to divert us from Bloody Big Brother!!!

  27. Will be watching Bulgaria v Italy tonight.



    Bulgaria play in green and white (and red?), I believe.




  28. weeshauns



    You’ve got a wee thing about guy on guy action,we are pretty open here,fess up.

  29. BT



    If the games in Russia I’d leave the big, lanky, streak over there. He’d be more use in a salt mine :-)



    Right time to leave the working week behind and head to them there hills!!!

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