I’ve had an initial read through the prospectus for yet another Newco, this time Rangers International Football Club plc, which “was incorporated with the intention of acquiring RFCL upon Admission in order to allow an investment in the Company to qualify for VCT and EIS tax relief”.
There can be no qualms from HMRC that anything has been hidden from them this time, incorporated to allow an investment to qualify for tax relief. RFCL (Rangers Football Club Limited) is not eligible for VCT and EIS tax relief, so the incorporation of a new company was necessary. HMRC provisions require VCT and EIS schemes to be used for genuine trading purposes, not as part of a tax avoidance scheme, so I’m sure the Newco’s lawyers have got all their details correct.
On the subject of getting details correct, the prospectus notes there are 33,415, 200 RFCL shares in issue. It then goes on to list the shareholdings of entities which own over 3% of the company, and lists 36,385,200 shares in this category. Shares held by entities with less than 3% of the company’s shares, such as the £700k-basic-per-annum-Ramsdens-Cup-flop McCoist, are on top of this 36million.
The prospectus also notes that if the issue is fully subscribed the new shareholders will own 63.3% of shares, not the 53.6% my calculator suggests (existing shares: 33.4152m, placing: 24.242875m, offer: 14.285714m).
Charlie Green is paying £2.5m for this issue, perhaps the cost of a calculator would have blown the budget.
Most curiously of all, the identity of those behind Blue Pitch Holdings, remains undeclared.
As you should know by now, the year ahead is an enormous one for the club. Many among the support, and at the club, want to use our 125th year to reaffirm why we are more than just a football club – we are a humanitarian phenomenon.
You are going to hear a lot about this over the next 12 months but this week you, me and everyone else are called to assist Teenage Cancer Trust and Celtic Charity by supporting a totally unique opportunity.
One of the world’s genuine A-list celebrities is lending his talent to our cause. Today, Rod Stewart’s new single, Have Yourself a Merry Little Christmas, is released in aid of Celtic Charity and Teenage Cancer Trust. You can download or buy a CD from Amazon, Play.com or, if you really want to, iTunes.
I want the objectives of the 125 4 125 campaign to succeed. This is a year when the Celtic Movement can push ahead in a way no other club or group can. The Rod Stewart brand gives us an opportunity to raise the profile of the larger campaign higher than the combines efforts of thousands of us online. He’s also a genuine, bleed-green fan with Celtic in his heart.
Encourage everyone you know to buy the single and get it as high up the charts this week as possible. You Have Yourself a Merry Little Christmas now.
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Equalled even
ernie
I’ll stake my life on it……………………..
adi_dasler
Yes
There’s a joke in there somewhere about a B Side
This place is almost serene
Don’t forget the end of the world has already happened to oldco – don’t think it will happen twice in the same year…………or maybe 21/12/12
Serenity, gees an ode
Voguepunter.
Sounds like your in the groove;-))
Neil canamalar Lennon hunskelper extrordinaire
This place is almost serene
…………………………..
where’s izzy when you need him?
World record set 86 goals so far in a year, no bad for a player that’s too short for Scottish football :o)
neil canamalar lennon hunskelper extrordinaire
20:23 on
9 December, 2012
This place is almost serene
…………
Hey Bhoy, yir coming away with some classics this weather.
V jealous CSC
Everyone’s quiet tonight!
January transfer window , I’m sure we won’t loose any players, think in the summer we will loose big Vic for big cash but much as I love the big mhan if we can £15-20million that will be fine by me.
Selling Aiden for £9 million allowed us to assemble the current squad.
Vics money will allow us to make 2-3 quality additions and on that basis of strength I can see us competing in the latter stages of the champions league for many years to come!
What’s not to like ?
IMO we will be big winners
Real Betis wearing green and white but they’re no Celtic – sky commentators
They’re wearing green and white but they’re not Celtic
or maybe they are now 1-2
My wee ghirl aged 6 is signing ‘ don’t sell McCourt , Paddy McCourt , just don’t think u understand……’
Ain’t life good in Timland!
Burghbhoy -a good point about aided and vic – what I don’t want to lose arre the scouts who brought these players to us
Seems to be an awful lot of negativity about the Sevco share issue. Guys, this is a debt-free company with 500 million fans and will be competing in Champions League semi-finals every couple of seasons.
Burghbhoy
I think Jan should be an opportunity to get rid of some fringe players
Paddy, Miku would be a start
“@FootballCliches: Messi is a thirty-goal-a-season man. That season being autumn.”
.
Don’t know What is the Scariest..
The Howlers of the Ole Moon..
Or..
Ole OldTim and Ole WeeFraTheTim..
Doing a Sunday Night iTune Album Countdown..;0)
At Least they are Not on the Ole Horn Charts..
See What I did there..
Summa of OleBazzersOnlineCSC
Ps.. The Oldies are Ra Best..;0)
PFayr
I read some of of particularly the risks and posted this on TSFM.
How long does it take to build a side capable of earning the CL top dolllar AFTER that side has been bought?
When it says wage competitive do they mean with Celtic or just the rest?
I cannot see how that can be done if wages are restricted to 33% of non CL income whilst Celtic already have a well developed team and business and likliehood of regular CL money.
It could be 2018 at best before a title winning team is possible which is a while to get a return on any investment although Ticketus if still involved will be happy to get their sunk money back from ticket sales.
Thus the greatest risk to their vision of being a top team is Celtic and call me paranoid but this worries me given the degree to which rules have been ignored by SFA to give The Rangers an opportunity to recover.
It is simply an attempt by football to recreate the model that collapsed causing angst to everyone during the 3 years of Rangers title wins and then what happened after the collapse.
Steps have to be taken to reasure supporters of all clubs that no favours are being done to provide any unfair advantage simply to remove the suspicion of non “The Rangers” supporters that skullduggery is still not alive and well and operating from a twin Ibrox and Hampden axis.
Ensuring sporting integrity is paramount and real transparency and accountability has to be introduced at SFA involving supporters of all clubs.
The $64M question is how big a gate will The Rangers get once in the top league if they are perpetual second fiddlers?
The emotional supporters are assured but what about the glory hunters?
That is not to say a competitive team cannot be built on lower wages ( eg Celtic in CL) but the prospectus should be clearer that this is about saving The Rangers not returning it to a former unsustainable and unearned (they did not pay their way) glory.
They will attract an emotional investment but institutional investors will have the barge pole out. In fact the only folk I can see getting any return would be Ticketuson ticket sales whom I suspect still are involved.
Messi has now scored 86 goals in a calendar year.
That’s more than The Rangers have scored in their history.
Evening bhoys from a cold hun free mountain.
Well the wee man gone and beat the record, special player.
Just shows how good we were over the two games.
I’ve had my first drink fur a week and the blog has gone quiet, well I suppose……….
That’s the way uh hu uh hu I like it…….
http://youtu.be/p2cSJOkXX7Q
V
terrific article by the dutchbhoy on celticunderground.net and can only agree with everything in it except the celtic is scottish football line which is exactly the argument that saw sevco in division 3 and fans of every team in scotland have had a right good laugh watching fans of sevco pretend that they’re the same as oldco, it might take a few years but even the dimmest of the dim will see sense eventually.
Someone earlier asked why are sevco sevco and not Rangers, the answer is a very simple one, if newco Rangers are the same as oldco Rangers, why would newco Rangers fans be boycotting Dundee Utd if nothing actually happened and the oldco and the newco are the same?
The whole sevco fans boycotting Tannadice makes no sense if nothing has actually changed and both the newco and the oldco are both one in the same Rangers.
Charles Green is actually leading the Sevco fans a merry dance. Personally I cannot fathom his 20+ year strategy for Sevco, probably because he doesn’t have one because if he did his strategy would be leading Sevco into liquidation (again, if sevco and rangers are the same lol).
Listened to Radio North Britain Regional yesterday and someone used the chocolate analogy to describe why oldco and newco are the same.
That’s exactly the point if Asda selling a tin of beans at 25p liquidated tomorrow and the newco Asda was set up selling a tin of beans at 24p no-one could give two hoots the difference between oldco and newco (with the exception of the employees and their families, extended families, whose contracts have been ripped up, wages left unpaid, etc, etc) because Asda doesn’t occupy any sentiment in the way that even a local butcher/greengrocer has, nevermind a football team with tens of thousands of fans prepared to get into huge debt simply to be in the crowd/wear the t-shirt for one of their matches.
Jackie Mac / Gene
Spot on , would like a quality signing in January, mentioned on the blog last week James McCarthy, but probably too expensive for us. Will settle for John Park bringing in another Efe or Vic!
Hail Hail
Vmhan,
I’ve sussed it, there’s a drunken haze missing :oD))))
Going to sort that right now, boozers for a bit of balance
I know he can be a real TURD but Tam Cowan saying he was really tired this morning because he was at his grandmother’s birthday party last night although she had died in the summer but it was an idea they had borrowed from The Rangers really made me laugh.
Paul67 et al
He only scored one against us!
And he took over three hours to do it!
Fraser Foster to Barca in the summer – you heard it here first
The only people pretending that the Huns remain the same club are Huns and the MSM
Says a lot about the MSM
Sky are particularly bad …they seem desperate for the return of the derby match
Burghbhoy
We’ve missed the boat with McCarthy ….he’ll be sold for a fortune and get wages way out of our structure
What team do i want to see in the next round? Celtic..
I just can’t get enough.
Summa
That is only your opinion :)))) mer respect for yer elders. LoL
Weefra HH
Inter keeper got booked for time wasting after 27 mins. I recall that happening a Celtic keeper. Emdae help?
Gene’s a Bhoys name
I was taking to a few Barca fans the ohter day, and to a man they want big Fraser to take over from Valdes, they all see him as their weak link.
After his heroics, I could well see them make a bid in the summer.
I doubt we will lose any of our big money players in the next window.
If the rumours have any legs, Vic will only go to a CL team.
Liverpool would have to weigh in with serious money if Hooper or Sammi was to go, but it’s probably all bollix anyways.
You would think that the msm would have sussed that they can’t disrupt what is so strong inside.
HH
I thought this was funny
Stirling Albion fans at Mordor
http://willievass.photoshelter.com/gallery-image/081212-Rangers-v-Stirling-Albion/G0000VWMViGmkUo0/I0000Mrv4KawMo7Q/C0000jVCeRN_1txg