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SFO, IPO, hell will freeze before SFA act

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An appropriate course of action when you are the chairman or a non-executive director of a PLC when a fellow director and, until last week, chief executive, has been reported to the Serious Fraud Office for matters in connection with the company, would be to immediately contact the accuser asking for full and immediate disclosure of information which could materially affect investors and the company’s trading position.

The “compelling evidence that Messrs Green and Ahmad received a letter before claim in December 2012, having received previous correspondence, and chose to ignore it” sounds like a signed-for receipt.  If this was received before 22 December, the date of Rangers International FC PLC’s IPO, it is of critical importance that the board ask for sight of the evidence, irrespective of what Mr Green says about its existence.

This season’s Third Division has nine days to run and it would inconvenience many if these matters were brought to a head before then, but the duty of directors is clear; they cannot postpone attending to the interests of investors until after the football season.

Lawyers acting for RIFC PLC should politely request full disclosure from the other party, without delay.

Some in the SFA may be tempted to attempt another Grand Plan to prepare for and accommodate and almighty collapse at one club.  Grand Plans don’t work in these circumstances; the last one led to the current Lawyers at Dawn scenario.

We await the SFA acting in relation to RIFC PLC’s claim that Sevco 5088 Ltd, a company Craig Whyte is a registered director of, is part of their group.  This is in direct contradiction to an earlier representation made to the SFA, and breaks a condition of their membership of the Association.

Current SFA president, Campbell Ogilvie, is a former Rangers director.  My prediction is that hell will freeze over before he allows the SFA to act on this matter.  The SFA shall wilfully ignore its own rules.
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  1. The MSM may feel that they are protecting Sevco fans by massaging the truth. In reality they are adding to the catalogue of lies. The “emphasise the positive” style of reporting masks the reality.

     

     

    Today’s Herald is a classic example:-

     

     

    On page 1, Jody Harrison writes “Rangers released a statement dismissing Mr.Whyte’s claims on Ibrox as “spurious”.” If you read on you will find the Rangers statement actually said “the company regards any such press commentary and speculation to be highly spurious”. Note the difference – the press stories are spurious not Whyte’s claims.

     

     

    Meanwhile on page 1 of the HeraldSport, Richard Wilson (him again) goes with the headline “Murray: Rangers in Good Shape”. In the article ,the Rangers chairman, Malcolm Murray, states “we raised £22.5m in December and I can assure you it has not all been spent. We are in pretty good financial shape”. No follow up questions from Dick on how much has been spent, how much is left, how long will it last or why is losing £1m a month pretty good?

     

     

    I don’t feel sorry for Rangers fans. My point is that they should start to become more challenging of the MSM and their own forums for how they perpetuate that all is well when it clearly isn’t.

     

     

    We should be thankful for forums like this which welcome open debate, opposing views and constructive criticism.

     

     

    HH

  2. Scottish football is moribund and it is not likely to get better anytime soon.

     

     

    The demographics of Scotland are against it and we will never see generations like we saw before…..(can’t believe no one has picked this one up yet)

     

     

    The orcs are finished and will probably go bankrupt again. The 80% have no representation in the popular culture of Scotland which pains many but short of official Scottish Government support that is the bald legal and financial fact.

     

     

    Celtic will gradually downsize to cope with the loss of revenues that we suffer by operating in this very small and insignificant country. Our footballing ambitions will be matched to our economic realities and if UEFA do nothing then Celtic are doomed to a future of half empty stadiums and we become effectively like the small Nordic country clubs.

     

     

    If UEFA allow this then they are participants in sporting, social and cultural genocide, allowing a football club who’s name is on the trophy to wither away. We are more than a football club, there is nothing quite like us out there.

     

    In comparison other clubs are akin to franchises much like MacDonalds and KFC

     

     

    The only solution is for Celtic to move on………..

     

     

    MICHEL PLATINI…….are you listening????????????

  3. Steinreignedsupreme on

    TroonTim 17:33 on 25 April, 2013

     

     

    Zombies with laptops are doing as much damage to Sevco as anyone working at Ibrox is.

     

     

    I could give you two examples of stories on Sevco which I know have been deliberately ignored in the last 24 hours, but to be honest I don’t actually care.

     

     

    Because we all know it is going to end in tears again. Tough for them. Funny for us though.

  4. leftclicktic – On the TUPE issue there’s also the curious case of Southampton and Coventry, who agreed fees for Steven Davies and John Fleck (remember him) respectively, neither of which agreed to TUPE.

     

     

    Agreed fees with which company? And did that company actually own the players registrations?

  5. kevinlasvegas on

    Me neither, i couldn’t care less what happens. its done this time and their pals and msm can message it as they like, WE tried warning them and they can’t even work it out for themselves, not even one of them. How crazy is that. so they deserve everything they will get. It will be messy and our club must just sit on its hands as it has done for the past year.

     

     

    KLV

  6. charles kickham on

    alex thomson ‏@alextomo 51s

     

     

    #c4news SFA have resonded to questions regarding who owns Rangers; whether CW was involved after being banned; latest ownership issues…

  7. sonsoferin

     

     

    Perhaps someone should tell Coventry and Southampton to check out their paperwork , have they purchased players who weren’t legally owned by the sellers :-))))

  8. Steinreignedsupreme @17:44 reckons “Zombies with laptops are doing as much damage to Sevco as anyone working at Ibrox is.”

     

     

    Tell me how to do that Steainreieignedsupreme and I promise I’ll join in with great gusto.

  9. tomtheleedstim on

    @alextomo: #c4news SFA have resonded to questions regarding who owns Rangers; whether CW was involved after being banned; latest ownership issues…

  10. thomson

     

    @alextomo

     

    #c4news SFA have resonded to questions regarding who owns Rangers; whether CW was involved after being banned; latest ownership issues…

     

     

    SFA say they’ve written to RFC ‘seeking clarification on a number of issues, hv received a response which they’re considering.’

  11. Moonbeams 17.45 .Posted on this earlier. The concept is so far fetched I have difficulty in believing it. However the entire Sevco farce itself defies belief, so why I have doubts, I just don’t know. If Imran has indeed been posting that stuff on the internet it opens a totally new can of worms for the stupid zombies.

  12. !!Bada Bing!! on

    The huns and the laptop loyal deserve each other.The rats done enough digging on Wee Fergus,if only they checked out Craigy Bhoy,Challs and whoever is the next carpetbagger.

  13. !!Bada Bing!! on

    Regan needs Ogilvie to be his heatshield all things hun related,making him work for his EBT.

  14. Radio Scotland said they relieved a reply from sevco on their initial inquiry but have now responded seeking clarification on something ?

  15. Steinreignedsupreme on

    Ntassoolla 17:53 on 25 April, 2013

     

     

    There is a lot of sand in buildings occupied by the MSM.

     

     

    No sea. No construction work. But the sand is a handy place for them to bury their heads.

  16. corkcelt

     

     

    I was in Barca with Robert and quite a few others, he didny like the beer he was getting served.

     

     

    How we managed up them stairs is another thing, they were never ending………….

  17. I wouldn’t pin my hopes on Alex Thomson getting anything from that lot, they’ll be all in it together mark my words, nothing to see here timmy’s..

     

     

    That corrupt lot will be on the blower as we speak thinking of a way to get them off again.

  18. !!Bada Bing!! on

    SFA will delay,delay ,delay….wait on huns internal cover up blah blah blah.Regan said last week he didn’t put a time on any reply from Challs.Look how quick they were on to Dunfermline.

  19. Admin on FF posted “brace yourselves, because things are gonna get a whole lot worse over the next few days”.

     

     

    lol!

  20. If all of the players of the former Rangers TUPE transferred to Sovco 5088 Ltd, then they must have had a second TUPE transfer to be now employed by Sevco Scotland Ltd.

     

     

    Now that means one of three things:

     

     

    1. A second TUPE happened perfectly legally and no one noticed.

     

    2. Players were transferred without notice or indeed ant notification, which is illegal.

     

    3. There was no second TUPE. The Rangers (Sevco Scotland Ltd) is playing players it does not own and has incorrectly registered them with the footballing authorities.

     

     

    LNS 2 anyone?

     

     

    And in this case the players were not capable of being registered and so there was a sporting advantage gained.

  21. Just in to find a letter from CP to relocate me from the Jock Stein Upper (Behind the Telly) to another part of the stadium. Going to go in tomorrow to the T.O. to find out what is happening. Any pash and they ram their tickets.

     

     

    Can anyone shed any light on this.

     

    Thanks

     

     

    HH

  22. I think we all know, that at the end of the day, they will get away with it, again, and again if needs be.

     

     

    The cabal are running the game, first hurdle.

     

     

    They run the referees, second hurdle.

     

     

    All the other clubs want the bigot pound, third hurdle.

     

     

    Same old, same old.

     

     

    We are going to have to lump it, there is nothing else we can do, sadly, but that is the reality.

  23. ArranmoreBhoyLXV11 on

    HH

     

     

    THE SFA, seek more answers…

     

     

    Why is my first reaction to laugh & say stitch up.. ? Like they ll try hard to get the truth.. I m sure the MSM will be hard at it..

  24. Has the bbc Hun with mic not been tweeting?

     

    Usually a tell tale sign something’s amiss when that wee git is quiet.

  25. SonsOfErin, 17:46 on 25 April, 2013

     

     

    leftclicktic – On the TUPE issue there’s also the curious case of Southampton and Coventry, who agreed fees for Steven Davies and John Fleck (remember him) respectively, neither of which agreed to TUPE.

     

     

    Agreed fees with which company? And did that company actually own the players registrations?

     

    ——————————————————————–

     

     

    The players who did not accept the TUPE transfer refused to move to the new company (whichever one!). They therefore left Rangers (in liquidation), became free agents and then signed for their new clubs for free.

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