Prospectus sums, tax relief and Teenage Cancer

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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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  1. Doesn’t that bass drum look brilliant, oh, and the fiddlers look ok too. :)))

     

     

    Weefra HH

  2. fergus slayed the blues on

    If Sevco were the same club why…..

     

    Would CG have paid over 3m more than he had to to buy the lot

     

    Why the need to transfer a licence

     

    Why were they not deducted points at the start of the season for being in admin

     

    Why were they not seeded in the SC

     

    Why are they unable to play in Europe for 3 yrs at least

     

    Why are their debencher fans seats no longer valid

     

    Why when Regan was asked if they were the same club he did not say YES

     

    Why does Wattie say in my view when talking about them being the same club

     

    Oh and a final question ,When will the illusionists think the hordes will be ready to be told the truth

  3. canamalar

     

     

    might sneak a wee trip this week, I’ll give you warning so you can leave..

  4. Booked ma grandson driving lessons today for his christmas, sh@@ now realise how old i am :((((

     

     

    Weefra HH

  5. The game between Tivoli Gardens v Humble Lions has just kicked off……..

     

     

    I was going to ask for predictions, but as Tivoli have opened the scoring in the first minute, me thinks the home team are looking good for the 3 points :>)))

  6. 67Heaven ... I am Neil Lennon..!!.. Ibrox belongs to the creditors on

    gene’s a bhoys name

     

     

    21:46 on

     

    9 December, 2012

     

    67heaven

     

     

    thats because it’s a loan….nudge nudge…wink wink

     

     

    >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

     

     

    HaHaHaHaHaHaHaHa …….this Rod Stewart show is BRILLIANT

  7. macjay1 for Neil Lennon on

    WeefratheTim

     

    21:56 on

     

    9 December, 2012

     

     

    Age?

     

    Better than the alternative.:-)

  8. Weefra

     

    STV with smith being on the podium to give the award..

     

     

    I really do despair…

     

     

    scotland is orange

     

     

    glasgow is green and white..

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