Rangers International’s advice to shareholders, issued last night, for next week’s General Meeting is legally spot on. They have read the contract but they’re not reading the narrative.
As they say, the club would not be bound to repay the £5m loan from MASH if shareholders vote in favour of doing so. Repaying this loan may not be in the interests of “shareholders as a whole” (I dispute this).
In asserting these views, and winning the vote on the matter, Rangers International will surely not surprise MASH.
When someone as thorough and well-resourced as Mike Ashley puts resolutions in front of you, when his motivations are “not clear to the directors”, you have to consider if you’re in a Rope-a-Dope scenario.
Without knowing anything about Ashley’s plans, I can give you an assurance that he will expect shareholders to vote against his resolution. He is asking for his money and expects this request to be declined. He is also asking searching questions about the events which led to the succession of the current board. I do not expect him to be satisfied with the answer.
The real question is, why has Ashley engineered a scenario where he has made a legitimate request for repayment and been rejected?
If you think next week’s meeting is about winning the vote you could not be more wrong. The cynic would say Ashley wants justification for what he’s about to do next.
Those shares in Rangers Retail Ltd (RRL) which are due to be returned from MASH to Rangers International on repayment of the loan are currently worth 26% of RRL. I wonder if they will be worth more than 0.1% of the company this time next month.
This is a classic Rope-a-Dope. Pay him his money, do it quickly, secure as much of your Intellectual Property as you can, as quickly as you can. This is not a matter for brinksmanship. You stupid, stupid, lemmings are walking off a cliff. Again!
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You where leading all through the discussion to this conclusion. Then bang you somehow think you won a watch with the comparison between Celtic signing this agreement (If they Have) and trying to make out this is ethically the same or similar as War in the region of Iraq.
Utter Mince.
Hail Hail.
AoW
Rock the Casbah was the first thought that came into my head, on reading news of the Saudi deal. Been singing it all day in my mad heid. :)
vespacide,
Yer right, that is utter mince and how you got there has lost me. Good luck with that. Convoluted drivel is what I try yo avoid.
Rhetorical’s argument was about business being a modernising force, I think his point of view had more balance and was far more compelling. As for yours, well it’s not a perspective I can agree with.
Hail Hail.
RWE from earlier
There’s a book there – The Zen of Blogging. All the material’s here, it just needs structuring and editing.
I was influenced by reading and seeing Major Barbara at an early age. In a debate about acceptable source of funding for the charity, one character says something along the lines of I’ll take money from the devil himself if I can get it out of his hands and use it for God’s work.
Not quite the theme I was pursuing with Canamalar but another one I can buy into in principle.
cowiebhoy
Glad to see everything went OK with your op today, hope to catch up with you soon .
Hail Hail
DD- haha me anaw!
“Green brig-ay-ay-de don’t like it…”
Was my particular ditty of choice.
Delaney’s , that should be some journey on saturday.
There may be some peepul on the train going to that ‘ecumenical’ get together in george square.
While the James Connolly celebrations, the Reammon Gormley and Green Brigade football tournaments will be fun and hope filled occasions, the orange fest will be the opposite if its followers behave in the traditions they revel in .
And I thought rhetoricals argument was that in business anything goes and that should be accepted by all, regardless of the standards we set for ourselves, it’s ok for business to ignore moral issues as it’s only money that matters.
moonbeamswd
17:11 on 4 June, 2015
TD67
I believe the majority of fuel for my car comes from the North Sea. Only a fraction of our fuel comes from the Muddle East. The price of that fuel is set mainly by the cabal of OPEC but the fuel does not come from there.
So another analogy would be good to support your uber support for our PLC.
MWD said AYE
——-
Sorry to butt in. But I think the analogy is valid and is made even better when you say only a fraction of the fuel you use comes from the Middle East.
Only a fraction of Celtics income will come from the Middle East.
FGF
Thanks Bhud
Made sense to me, get op in close season, then can still support the Bhoys onto 5 :-)
Hail Hail
Rhetorical
Read back and some of what you say is true but you have obviously never had a female boss. 8))
Cowiebhoy
Good luck with the recuperation
Remember rest ,rest then more rest
Canman
I’ll be in town tomorrow afternoon with the Cqn splitters if you are out and about
Maryhill during the day then BV
Good night all and sleep well.
Canamalar- “we’re talking ’bout, the dollar bill..”
While the board cry “money’s too tight to mention…cutback..”
Awe naw (not the blogger) I’ve just got an image of Big Peter L, in gold lame’ underpants dancing around his bedroom to Mick Hucknall!
Nurse!!!!
margaret mcgill
21:16 on 4 June, 2015
Aye, very good, Margaret …… Way off the mark, I’m afraid …….. Purposely ?
Dallas
We will smile and nod at the citrus lovers!;)))
BT
Thanks Bhud
Never got an update on young Marco, hope he is doing well
Hail Hail
BT,
Will try and catch you at the BV, if no next week
My views on the board are well known but is the Saudi thing any worse than the child labour Nike deal we made millions from ?
It’s what Celtic PLC is all about
Canman
Good man
Email me at blantyretim @aol.co.uk
And I’ll give you my new mob no
Previous number now either mrs or mini BT , it’s was an iPhone thing
BT,
The Nike child labour thing did not become public knowledge till after that deal was signed.
blantyretim
I did once but not for long….In fact, never managed to stay very long with any boss. Just unlucky with the bosses I got I guess. No standards!
From RM
They do say the bookies never get it wrong!
Rangers 10/11
Hibs 11/5
St Mirren 10/3
I guess the bookies reckon we’ll see some serious investment soon
lololololololol
HH
Canman
Disagree, I was in Canada 1999 and wife’s cousin who worked for canox refused to wear Nike gear so their labour practices where well known , don’t forget the dead mob had their strips before us, think it was a first for them
rhetorical
Lucky you. 8))
In saying that I’ve been married for 21 years so I’m used to having a female boss. 8))
Weefrathetim
Weefra HH praying to Wee Oscar.
BT
You have two female bosses. And don’t you forget it! ;))))
OK , normally I’m very a-political.
Never joined in with the SNP / Free Scotland debate. Usually because I’m being educated by others opinions and those who know more on the subject than me.
On the Saudi thing I have first hand experience having worked there on and off over a number of years.
A few observations / opinions / sharing of knowledge if I may.
Saudi women are less oppressed than the Indian workers who perform the menial tasks that the Saudis won’t do. This begins at the Airport with the immigration control. Indian workers held for hours in queues while other foreigners, such as myself, are given priority.
Saudis in business know that oil is a finite resource. They must find other ways to make money in the future. Westernisation is happening. McDonalds, KFC and such like are evidence of this.
The extent to which Saudis practice their religion is inverse proportional to their wealth. Saudi Princes taking over the whole the top floor of the hotel I was staying in, with loud music through the night and all sorts of debauchery taking place. (Ok, I didn’t witness this first hand, but I did witness, men and women shuttling up down in the lifts when I went down to complain about the noise at 1am)
A nurse (female) who worked at the A&E told me that the number one cause of road traffic accidents which resulted in admittance to A&E was drink driving. Not recorded as such if it was a Saudi but a non-Saudi…. Watch out.
Back to women.
Saudi recognised that many of the young women and men were leaving the country for education elsewhere (UK, USA ). In those countries they were able to dress as they pleased. To counter this, there is a huge young ladies university where the students are allowed to dress as the please on the compound (presumably within reason).
Women driving is on the way. It will happen. For now the rich women are content to have their drivers chauffeur them to the shopping mall where they can go in one door and exit with their “lover” via another. Oh yes, it happens.
Because multiple wives can only be afforded by the rich, Saudi women have a mission to spend their husbands income so that they can’t afford another wife. House is fully re-furnished every year, expensive dresses are purchased, and so on.
Western women in Saudi freely walk around with no headdress. It is better to wear at least a scarf, but not mandatory. Saudi women must keep their face covered. But as soon as the plane takes off leaving the country, the majority change into “normal” clothes. Some don’t.
If Celtic linking up with a Saudi football team in any way helps to acclimatise Saudi to our world, then I say it’s a good thing.
And, by the way, they are football daft. Mostly Real Madrid, Barcelona , Arsenal, Man Utd, Chelsea (maybe Man City now, it’s a few years since I was there).
Cowiebhoy
I posted on the blog about Marco and I posted his page on FB re the children’s hospital closing
He is an inspiration and has shown what you can do with a bit of determination and fight
He is in 6 year at school now and although he is a wee Tory he is a brave bhoy
DD
3, my wee mammy 8))
BT
My two daughters are good bosses to their da! ;))
Night bhoys n ghirls
GNGB
UTLR
BT
Oops! Forgot ma wee mammy Molly. Three great bosses. :)
BT
Oops! Forgot ma wee mammy Molly. Three great bosses. ;))
EASILY OFFENDED!
……………and I won’t quote the source.
Spend your life tied up in; ethics, morals, dogma and life will pass you by.
Too late and you will find yourself heading for the graveyard – unfulfilled!
Praecepta
Some bhoys need to deep breathe! :)
Canamalar 1908
Or, the Saudi club had to get approval from the Saudi Govt before coming to an agreement with Celtic. Of course, it amounts to the same thing, but the emphasis is different?
HH
Friesdorfer,
The Saudi club are already committed to sharia law and the promotion of sectarianism our club simply had to sign on the dotted line that says they don’t and won’t object