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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James Forrest is Neil Lennon! We are ALL Neil Lennon!
Thank You,
BB can wait a little longer.
And here is some petec appreciation to one of CQN’s finest.
http://www.youtube.com/watch?v=3dGj9h8ggCc
James Forrest is Neil Lennon! We are ALL Neil Lennon!
————————————————————————-
Best of luck to you ,in whatever you do …………………
unless it involves working with sevco:O)
AikiBhoy
17:15 on 7 September, 2012
petec
16:24 on
7 September, 2012
THE EXILED TIM
No offence my Good Friend but you are worrying about nothing.
Celtic will not be facing The Rangers again
What do you mean AGAIN?
:D
________________________________________________
Humble apologies, I blame Catholic Vodka.
The singing detective
How can you suggest that Rogne’ is overcoming his fitness problems ….he is suffering his second bout of injury this season ..
As for blaming the training facilities and medical assistance ….there are quite a number of players who haven’t had any injury problems …never mind the continuous problems Rogne’s has had and appears still to have
Thomas Rogne is not a bad defender he is one of our better
CH if I was the Hoops I would hang onto him but I don’t like
those mince rumors put about by the Hun Media that as
soon as the Hoops managed to get through to the CL
Group stages then all of a sudden all the players want a
wage rise it sounds like to me that they are trying to stir
up the shit chooo away with you doom and gloom
merchants boo-boo hoops yes-yes newco their problems
are far from over and don’t try to distract attention your
plans have been unfolded hun media and your favorites
are about to move back into free fall good
So is Dr Who on the Sevco boycott list now?
BT,
your actions at the cash machine were the correct thing to do,
you really wouldnt have slept knowing you took the money.
I witnessed the opposite a couple of weeks ago at TSB High street in Paisley.
A queue, waiting, two machines in use, old man at one.
The old man starts to take off, ratbag goes to the machine after him, makes out as if he is using the machine, but heads after about 15 seconds.
Old fella comes back, left card and cash in machine , £200 quid he lost.
he got his card though, cos the guy made off with the cash before the card came back out.
petec:
You’ve reached a great moment in Breaking Bad. At some time further on Walter talks to Hank about fear, about spending a lifetime being afraid.
You’ve reached the moment Walter stops being afraid. Which has value, and merit, and is something good, and can be positive for a person.
Unfortunately not in his case haha ….
voguepunter:
Sevco can’t afford me haha. Besides, there are things a man does not do for money.
St Stivs
I had no hesitation obviously..
I blame my parents and my education….
….PFayr………..17:19 on 7 September, 2012
For sure; quite like the bhoy Rogne when he goes about his business but he does seem to be a bit of a chocolate fireguard,,,,,,,,,,,
Regards & Hail Hail
TBM
TSD
” To accept a reduced salary would be a downright disgrace….
Perhaps his face doesn’t fit /a bit too cerebral/ no tattoos / a non-participant in the Friday Night BoozeN’CardSchool Culture….”
Or Celtic are now going higher in their standards, now that they have disposable cash. I like young Thomas, I think he has something about him that is desperately needing nurtured.
In Lenny petec Trusts.
Wee Oscar appeal crosses the half way mark :-)
Just made my week, and it’s been a longgggggggggg one!
HH
CRC
Good Evening,
I see a lot of space being devoted to the situation surrounding our friends over at Ibrox in terms of who they are and what they are.
This debate is entirely irrelevant because it has always been known and has always been very very clear.
However, for those in any doubt let me set it out in its simplest and most authoratitive form.
You will recall that Messrs Duff and Phelps were appointed as Administrators on 14th February. They were appointed by the court- having been nominated for the position by Craig Whyte ( under pressure from the reveue ), and many will recall the proceedings of that date where the court told the representatives of Rangers PLC that they had until late afternoon to name an appointee or the court would do it for them.
The result was D & P.
Now remember, that D & P are officers of the court– they are answerable to the court– they are officials of the court.
They are also a huge global firm and have the benefit of advice from some heavy legal hitters.
As such officers of court, as a large global firm acting on expert advice, Duff and Phelps have made the position under discussion clear from the outset.
Here is an extract from the definition section from their report to the Creditors dated 11th July.
“the Company and the Club”
means
The Rangers Football Club Plc (In Administration), Ibrox Stadium, Glasgow, G51 2XD (Company number SC004276);
So there you have it, the officials appointed by the court has already determined that Rangers PLC are the club and the company. End of discussion.
Oh– but hang on, some say that te company was a holding company and that Charlie Green bought the club from that Holding Company.
Eh– well you see that is just not correct at all but rather than bog everyone down with why that argument is bllocks, let me just go straight back to Duff & Phelps and their latest report which of course is dated long after Charlie has bought whatever it is he bought.
Here is an extract from the definitions section of the D & P report dated 25th August.
“Rangers / the Company / the Club”
means
RFC 2012 P.L.C. (Formerly The Rangers Football Club Plc) (In Administration), Ibrox Stadium, Glasgow, G51 2XD (Company number SC004276);
So there you have it, as clear as day, no fancy arguments, no why’s or wherefore’s, just a straight definition from the appointed officers of court.
These documents will now form part of the official court documents and records having been lodged with the Court of Session.
Oh and have you noticed the word “The” which is included in the definition?
The Rangers Football Club PLC — that is what is in Administration and what will be in liquidation.
One final thing, I will be very interested to see what entity is floated on the stock market– whether that be the main market or the AIMS or whatever.
I think there are compliance issues with Sevco which could make listing impossible.
A way round it may be to float a ready made shell PLC– but then that would make Sevco a subsidiary— and Sevco cannot be the same as the club that D & P were appointed to can it,— because D & P have made it quite plain that whatever Sevco is
…….. it isn’t Rangers…… and you can take that to the bank…. and the court!!!!
So- what would it be that Charlie is selling shares in?
Hmmmm Fresh Air comes to mind!!!
james forrest.great post as usual.only one wee problem.charlie “let every player of value walk”>WHIT ABOOT LEE MCKILLLLLLLLLOOOOOUUUUCCCCCHHHH.????????
obonfanti1888
17:21 on
7 September, 2012
So is Dr Who on the Sevco boycott list now?
Obonfanti 1888
They can boycott who ever they want.
They will never raise their required funds to get
them out of the mire and it’s only a matter of
months or maybe weeks when they will be
back in a poo-poo situation which will eventually
catch up with them with no escape route
to bail them out and no alternative options
that have already been tried so sit back
and watch another demise unfold
akbw1888
17:11 on
7 September, 2012
saltires en sevilla
17:00 on
7 September, 2012
We’re sitting in glorious sunshine outside The George in Holyport, Berkshire
Anyone fancy a nice refeshing pint?
HH
Okay Saltires I would like to join you but I’m 400 miles away.
Don’t rub it in about the weather apparently it’s going to get colder next week
—-
Yes I’m back up the road tomorrow… Was asking if any of the Local lads wanted to join us tonite :)
HH
celticrollercoaster loves Wee Oscar’s Green Bucket Army
Excellent news .
FAVOURITE UNCLE
17:30 on
7 September, 2012
james forrest.great post as usual.only one wee problem.charlie “let every player of value walk”>WHIT ABOOT LEE MCKILLLLLLLLLOOOOOUUUUCCCCCHHHH.????????
Hatchet & Player Like Face Lee
Will eventually do walking away
Time And Relative Distance in Sevconia
TARDIS CSC
saltires en sevilla
17:31 on
7 September, 2012
akbw1888
17:11 on
7 September, 2012
saltires en sevilla
17:00 on
7 September, 2012
We’re sitting in glorious sunshine outside The George in Holyport, Berkshire
Anyone fancy a nice refeshing pint?
HH
Okay Saltires I would like to join you but I’m 400 miles away.
Don’t rub it in about the weather apparently it’s going to get colder next week
—-
Yes I’m back up the road tomorrow… Was asking if any of the Local lads wanted to join us tonite :)
HH
Hail – Hail to you my fellow Tim
I hope you find some local Tims
or @ least some good company to spend the Night
with you and I hope you enjoy the local refreshments
James Forrest is Neil Lennon! We are ALL Neil Lennon!
17:25 on 7 September, 2012
I just don’t like TV anymore, I think it is just a tool to manipulate people. BB is an example of Peter 5:8 if ever there was one. Amazing television as it is going into the human psyche in a way I am liking so far.
Always stick to the Christian Principles that Dempsey and Makepeace tried to do. ;))
Sevco gears up for Crossbar Challenge
I see ole Thomas Rogne fell for the MSM ambush.
He will be offered what Neil Lennon and Celtic think he’s worth, during the ongoing negotiations, on the basis what’s he’s seen to do when he’s fit, and what he’s achieved in games or is likely to achieve since signing for Celtic originally.
If I was Thomas Rogne I’d try and stay away from giving anti Celtic MSM cheap quotes from which to manufacture, equally cheap headlines such as ‘Wage Cut’
He should concentrate on his capability, and availability.
MakessensetomeCSC
Three
BSR
availability more in question than capability ….
Just dropped in to say
BT
What you did at the train station was exactly what would be expected of you.
Your a credit to yer family.
It takes me back to the heatwave of 1975 when, walking along High Blantyre Main Street, my dear departed mother stumbled across a purse, bulging with notes.
My mother panicked, looked around to see if there was anyone near who might have lost the purse. Alas no one near.
In those days – HB had it’s own Police station, so mum handed in the purse to Police.
Turned out that it belonged to an old lady who had collected the money from fellow pensioners for their annual day out at Prestwick.
There was over £200 in the purse. A lot of bread in those days.
I reckon my mum would have smiled down on you today.
Take bow BT.
Your a GEM.
God Bless
laters…
Hail Hail
bournesouprecipe
Whats this JibberJabber about sevco crossbar challenging?
Is it a new specially formed cup for Loyalists to kick things as hard as possible rather than using their minds?
White , Green
Unseens Green and White. And with an awesome sense of humour. Whoever is writing these scripts is now seriously taking the piss harder than ever before.
bournesouprecipe
17:38 on
7 September, 2012
Sevco gears up for Crossbar Challenge
I hear said challenge is one big scam that will back fire on them.
Same as the match programs scam as well
What so they expect to get all the gate money of said match
who are they trying to fool, their scams have been spotted
and these scams will soon be nipped in the bud
Ireland 1-0 down in Kazakhstan
Not good news Ten Men I hope they bounce back.
PF
Indeed, – he’s 24 now and time to shape up. Zero Euro games in 2011?
petec
I like this ‘Jibber Jabber’ and may refer to it
AKB
They’ve been duped ;-)
That awkward moment when the Kids get home from school on your day off, and the History Channel gets instantly bumped.
bournesouprecipe
17:52 on 7 September, 2012
That awkward moment when the Kids get home from school on your day off, and the History Channel gets instantly bumped.
_____________________________________________________________
Are you Ki’s Dad?
https://www.youtube.com/watch?v=_j-Tji1DueU
Right fellow Tims I’m for the off, I have to love you and leave
you things to do you know how it is we can talk about said
topics until the cows came home like 24/7 but I’m afraid
that I have other commitments and chores so until we
meet again cheers everyone may your troubles be few
and your blessings be plentiful God Bless you all
Come On The Hoops yeah later’s.
Ach, Paul, yer jist wan o’ they Kerrydale Street Accountants…
ItaliaBhoy
And definitely a Board lackey.
;))
ROI dreadful tonight.
This game underlines the earlier conversations on here, instigated by Arch’s post.
Even allowing for the plastic pitch, the home team are technically light years ahead of the Irish is terms of control and passing ability.
Who ever told Ward, O’Shea, Whelan, St’ Leger, O’Dea and Cox that they were footballers, should hav their credentials examined.
Apart from the Old War Horse Robbie, Mc.Geady is the only man in a white shirt that can control a ball.
Mc.Carthy just can’t get into the game; not helpd by being by-passed with long balls out of defence.
Another example of how obsolete the “British” game is.
Sack all “British syle coaches”.
We are only about forty years behind the rest of the World.
Harrrummph!
This, from Raith rovers Officila Website , is provoking fear and loathing over on FF.
Paranoid?
Them?
http://www.raithrovers.net/5407/wraith-rovers-the-undead-eleven.htm