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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The Saudi flag is at least green & white, if I’m not mistaken.
Really enjoyed that piece. I completely agree that Ashley can’t possibly have put forward his questions and resolution in the expectation of ‘winning’ at the meeting.
But he *is* giving the RIFC aboard the opportunity to be ‘reasonable’ and ‘sensible’. They would have to be very very ‘silly’ indeed not to take the opportunity.
Assuming of course they have the funds to pay him back. And if they don’t, they would do well to do everything – ANYTHING! – else they can to get him on side.
As I have said before, the ‘takeover’ of Sevco has seemed a complete shambles. A far cry from the McCann revolution at Celtic.
https://theclumpany.wordpress.com/2015/06/03/click-baiting/
Meanwhile, here are some thoughts from late last night about the laughable media coverage of Sevco’s (apparently) international search for a new manager!
“The Knacker’s Yard Donkey Derby”
https://theclumpany.wordpress.com/2015/06/03/the-knackers-yard-donkey-derby/
Enjoy the rest of the day!
And meanwhile, back at CQN corner, they were dancing “Sheik to Sheik”………??
Further to the tweet about FIFA paying FAI €5m,
http://www.theguardian.com/football/2015/jun/04/fifa-paid-fai-after-thierry-henry-handball-john-delaney
Another song to rival ‘Just can’t get enough.’
???
‘Sheik rattle n roll.’
HH!!
Outdated attitudes to the role of women in society seem to be a bit of a topic today.
Here’s another one.
http://www.theguardian.com/politics/2015/jun/04/alex-salmond-tells-female-tory-minister-behave-yourself-woman
The Battered Bunnet – Really enjoyed your post in page 3 and Barca’s follow up on page 4. You have to wonder if there are any huns reading this asking themselves these questions and thinking, surely these Tims are not right for the 3rd/4th time….
Whomever came up with the Saudi plan must have been stoned.
Shisha some reaction to the news today on here. Some people sea-ing red.
I don’t understand why we need this link. The only links we should be interested in are sausage links.
timbhoy2 – I’m not sure where you sit in the stadium, I’m in the JS lower and the facilities have improved there…
I assume Celtic should refuse to have any dealings with French teams?, after all the French government ban the wearing of traditional dress by Muslim women. What about the USA they illegally invaded Grenada, Panama and Iraq, to name just three. What about Japan they have never admitted responsibility for the atrocities carried out by their troops throughout Asia during WWII or shown any remorse for the sexual slavery imposed on the so called”comfort women” forced to work in brothels for their soldiers. Maybe we should have nothing to do with Switzerland they hid the valuables and art works stolen from the victim’s of the holocaust and still keep secret just how much, and what, is still hidden in their vaults.
Many countries have questionable pasts and current regimes which are despicable, but is it Celtic’s responsibility to be the world’s moral compass?
I assume all those condemning Celtic use only fair trade products, and deal only with ethically responsible companies.
I understand that Saudi Arabia is a repressive society but Celtic linking up with a football club is hardly an earth shattering revelation. If you have a problem with Saudi Arabia write to their embassy,your MSP or MP and tell them you want change. Demand action from those running your country,or even do something yourself, before you start abusing Celtic.
On the Hajer Quick News forum, fans are complaining about their club forming links to a club from Scotland.
They are concerned that the government here criminalises football fans for singing certain songs at football matches..
I mean, how can their club condone such a law by siding with a football club from that country.
owen
18:08 on 4 June, 2015
Damn right!
Celtic PLC do deals with scum in Scotland.
What difference does it make?
I hear that there is a tie up between a club from a country where the politically controlled polis wander around with guns on their hips, where they target a minority with the support of local laws, where elected politicians wine and dine with religious bigots, where religious hatred is not only allowed in their city centers, the polis even protect the bigots in flaunting their hatred and where the prime minister has avowed to stop adhering to Internationally accepted human rights agreements, and a team from Saudi.
sheiki yerbouti did you have a hand in this? one or two!! H H Hebcelt
Burghbhoy
What Celtic do you love?
The one that is or the ideal that you want them to be?
The ideal as you see it.
Loving what “is” requires real love.
Bobby Murdoch’…
£5 million for missing a hand ball? Now there is an idea!
TD67 hope to see you in the Brazen next season pal. Keep posting. Hail hail.
Harem Kayal returning?
Let’s say this weekend in Riyadh’s main square there was a Wahabi-Fest, as a minority Shia you go along for a peaceful protest. Based on recent evidence there’s a good chance you’ll be arrested, tortured and quite possibly sentenced to death.
I doubt any protesters in George Sq on Sat risk the same.
celtic mac
18:26 on 4 June, 2015
Bobby Murdoch’…
£5 million for missing a hand ball? Now there is an idea!
—-
Apparently the SFA offered us a £30 Greggs voucher
At least they’re no shites.
http://bit.ly/1KOJBrc
Yorkbhoy, the £30 would have been paid to the officials, not us
Weeminger, do you buy products from Cuba or China?
….. Hard to believe at a wasabi fest
Weeminger. If you wear a Celtic top in George Square this weekend chances are you will either be battered senseless, or be arrested for offending the bigots.
Auldheid – loving something despite the flaws doesn’t mean you can’t recognise and discuss those flaws.
Usual CQN bubble controversy. Remember all the guff about LG being a horrible racist? Since then, he has scored goals. Nothing about it now.
We are connecting to a football club. We aren’t endorsing the hunnery from SA.
margaret mcgill
18:33 on 4 June, 2015
….. Hard to believe at a wasabi fest
——————————-
Wasabi fests get right up my nose…
That said, there have been some fair arguments on here.
Owen, the Swiss role in the Holocaust is dirty.
Celtic PLC …… You got to hand it to them
With regard to the country outlined in the second paragraph…
Celtic have frequently toured and played matches there, continue to have very many extensive dealings including 14 partnership arrangements with clubs there.
That country has been and is still reasonably described as a…
“A religious-fundamentalist and militarily industrialized country where religious discrimination, sexism and racism are rampant, where justice is available at a price not as a right, where democracy has been corrupted and the government is controlled by a small vested interest group, where guns of all types are freely available and where lawlessness in many places is widespread, where individual’s rights are much less important than those of corporations, where public school curricula are subject to political and religious sanction, and where the execution of citizens is commonplace. This country actively supports (and has done for many decades) the subversion of legitimate and democratically elected governments in other countries by military and other means, and has an extensive record of human rights abuses abroad and at home. This nation’s supremacy was largely built on the ethnic cleansing of one race, the enslavement of another race and the theft by military invasion of one third of its current land mass from a sovereign neighbor. It continues to exploit its trading position to disadvantage and to influence governments in other countries. It operates a system of kidnap and the unlawful imprisonment of citizens from other countries that it justifies solely on the basis on their own unspecified national interests.”
That country is the USA.
Celtic – a club open to all regardless of politics or religion.
West end of East End.I sit in the front of the main stand The facilities are not so good .I think they have had a lick of paint over the yrs.and the food kiosks are a joke.for supposed to be a big club.there is a lot of things that need to be improved
That front stand could have been redeveloped but for some reason .money I suppose is the problem.that’s how I made a comment about people coming on here .and all they talk about is the demise of Sevco.were closer to home our club need to start seriously upgrading parts of the stadium. I said some on here last year.before the start of the commonwealth games .that the stadium needs a good overhaul .someone came on and said don’t worry Timbhoy 2 these things will take place.well another season over and the stadium is still needing a refreshing make over.but I suppose folk like Lawell won’t be to keen to see there bonuses. Eradicated.
.
Captain Beefheart – not directly.
Who’d have thought Celtic doing a thing would polarise CQN. Par for the course, innit.
BUSINESSES in Glasgow’s George Square have already been affected by Saturday’s Orange Order organised festival.
One restaurateur, who didn’t want his business named for fear of repercussions, told The National that all but one of his bookings for Saturday had cancelled in the past 24 hours.
All of the businesses The National spoke to yesterday said that the first they knew about Orangefest taking place on Saturday was through media reports and social media in the last two days.
Saturday’s “heritage” day event is expected to attract more than 2,000 supporters of the Orange Order from all over Scotland to Glasgow’s city centre.
The restaurateur who spoke to the National said that he had experiences with Orange walks and parades in another one of his restaurants.
“They come in, they’re drunk,” he said. “In the other restaurant they would come in and use the toilet. Twice we had to call the police because there were fights. After that we just closed on the days they were going to be near us. We should maybe just close this Saturday. Nobody’s going to come to town if they know this is happening.” Waxy O’Connors, the Irish Bar just off George Square said that they didn’t expect to be busy, but that they would be asking their door staff to start six hours earlier than normal. The Camperdown Bar underneath Glasgow Queen Street Station would also have door stewards start at the same time as the bar opened.
The manager said: “You never know what’s going to happen. Hopefully it’ll be a pain free day with no trouble at all, or it could be carnage.” A number of the chain restaurants around the square, Pizza Express, Browns, the Millennium Hotel, directed The National to their head office for comment, although many admitted privately that they were preparing for Saturday to be a challenging day.
The Wee Guys cafe off George Square were also worried about Orangefest putting off regulars, but would be opening and operating as normal.
Stuart Patrick, chief executive of Glasgow Chamber of Commerce, said that they were aware of the event but, so far, none of his members had “raised the issue”.
A spokesperson for Glasgow City Council said the businesses around George Square were not notified about Orangefest as the event would be self contained.
“The organiser announced the event last year and, since then, has followed the statutory processes required by Scottish Government legislation in terms of obtaining a licence and providing details of the public procession,” the spokesperson said. “There are no traffic orders in place for the event, so no changes to access or travel for neighbours.”
Saturday’s event, which runs between 9.30am and 4pm, will be opened with a banging of the lambeg drums, and will be followed by a mixture of accordion bands, choirs and speakers addressing the crowd.
A “banner parade” will arrive in the square at 3.45pm before a Last Night Of The Proms style finale. At the same time as the main event, there will be stalls, a lecture marquee, and face painting and bouncy castles for children.
Edward Hyde, Grand Master of the County Grand Orange Lodge Of Glasgow, said that Catholics and representatives of other religions had been invited to the event to help “break down some divides”.
Hyde told the Glasgow Evening Times that two women representatives from the Catholic Church would be attending, plus an Irish consulate and a representative from the Muslim Council for Scotland.
captain beefheart
18:37 on 4 June, 2015
That said, there have been some fair arguments on here.
Owen, the Swiss role in the Holocaust is dirty.
++++++++++++++++++++++
Some folks like to have their cake and eat it