At the time of writing the Celtic ordinary share price is sitting at 68p. For more than a year before the Rangers International share price was announced last month the price of Celtic shares never left the thirties. There has been considerably conjecture on why this is, which is probably worth some comment.
Rangers International’s (RI) opening share price of 70p valued the company at around £50m. By contrast, Celtic, who are and always have been, a top flight club, and who are in the financially rewarding Champions League, were valued at around £34m. On an initial pass, Celtic looked undervalued.
There are a few caveats to this story worth telling before you empty your holiday fund on the latest batch of Dutch tulips. Since Fergus McCann took over in 1994 Celtic have only paid dividends on preference shares, which the FSA require the club to regard as debt, not equity. No dividends have ever been paid on the ordinary shares and there appears to be no appetite among shareholders for this to change.
Celtic shares are also particularly illiquid – very few are available for sale at any point in time. When even a small surge of new buyers enter an illiquid market, without a corresponding rise in the number of sellers, a share price can be bid up considerably. Consider a stable average of 10 buyers and 10 sellers each day of a stock with 29,000 shareholders suddenly changing to 20 buyers and 10 sellers. The price would rocket despite no change in the fundamentals.
The possibility of Celtic playing in a domestic league beyond Scotland has again been on the agenda. Such an outcome would radically change the financial prospects of the club and is likely to have a considerable impact on the share price, but this remains no more than a talking point at the moment. Investors should regard this potential outcome as speculative.
Rangers International attracted considerable investment from organisations seeking a level of financial return which supports that £50m valuation. We can speculate what percentage return they will expect but the RI board have been explicit on their intention to produce a financial return.
I’ll not be investing in either company at the moment. Celtic will not pay a dividend on equity shares (which in years to come will evidently be a really good thing) and although I am sure Rangers International’s board will deliver an on-target return for investors (which in years to come will evidently be a really good thing), they appear negatively surprised by recent news on structural change in the Scottish game. Always take professional advice before investing more than you can afford to lose.
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1. Bobby Lennox
2. Covered stand
3. Creaney, Coyne
4. All team wore 7 on shorts
5. Notts forest, Mansfield , ?
6. Peter Grant
7. Falkirk , Hibs
The BurghBhoy
I agree with you Big Billy is unimpeachable. The others you mention are also true Celtic men. I also agree that hacks who ghost write for ex-footballers also seize on phrases and opinions and spin them to what they want their readers/listeners/viewers want to hear.
An exception to this rule is, of course, Mark ‘that man there’ Hately who always says what the Suffragers want to hear.
1 buzzbomb
2 floodlights
3 creaney slater
4 won league prev season but never played at home
5 Falkirk Hibs
JimmyQuinnsBits
21:01 on 11 January, 2013
‘Those Irish Catholics, back in the day, were statistically more likely to be accused and convicted of violent crimes, than their plastic anglo-saxon hosts don’t ya know.’
##########
“Wheresoever knives and razors are used, wheresoever sneak thefts and petty pilfering are easy and safe, wheresoever dirty acts of sexual baseness are committed, there you will find the Irishman in Scotland with all but a monopoly.”
theoriginalsadiesbhoy
21:07 on 11 January, 2013
Hateleys ghost is now in coven
Round 1 of 5: If you know your Celtic History?
(2pts if you are first to answer Q correctly, 1pt if correct but not first. One submission only per round )
1)Which Lisbon Lion made the most substitute appearances at his time with Celtic?
2)In 1894, what architectural feature, the first of it’s kind in the UK, did Celtic add to Celtic Park?
Pie stall at back of jungle
3)Which 2 strikers scored their only Celtic hat-tricks against Montrose in 1992?
CREANEY,
4) What was unusual about the opening league game against Killie in the 1972/73 season?
5) Name Kelvin Wilson 3 previous clubs?
NOTTS FOREST
6)Which player made the most substitute appearances with Celtic
7) What 2 other Scottish teams has Anthony Stokes played for?
FALKIRK, MIBS, ah mean Hibs
prestonpans bhoys
21:04 on
11 January, 2013
Ah Go on, go on, go on!!
HH
CRC
Magnificentseven
20:59 on 11 January, 2013
The Raven
20:53 on
11 January, 2013
Magnificentseven
20:49 on 11 January, 2013
The Raven
yes, afraid so, the man is only stating his feelings while outlining that the huns have caused their own demise
————————————————————————–
agree too disagree on that m8………any other ex celt would have beeen
slaughtered for that in my opinon…………..
disagree all you want…..the man is not just a legend for what he did for Celtic….maybe if you had met him and knew something about him you would know he is a legend as a person as well
cheap shot from a stirrer in my opinion
————————————————————-
Not doubting what Billy McNeil did for Celtic , what he feels for Celtic , agree he’s
a Celtic legend , but i think what was attributed to him was the wrong thing to say , in my opinion .
cheap shot from a stirrer in my opinion………… were u get that from ?
setting free the bears
Your stats show that 88.8 of 100 residents in the U.S.A. own a gun, do you have any stats to show how many of that 100 were born in the U.S.A..??
You then show that the murder rate for the U.S.A. is 4.8, I am assuming that is 4.8% but of what.
Do you have any stats showing how many of the 4.8% of murders were commited by illegal aliens, like Mexican/Russian drug Lords, gangs etc…??? (not picking on the Mexicans & Russians)
Just for the record, I do not own a gun…. yet…., however when the Jihad comes running down the street, and if it comes before I am in the big Gazebo in the sky, I hope I will be standing side by side with KOJO……..
Also for the record I do believe that every responsible citizen has a right to have a gun, and if the Govmt. wants to take them away the only way I would give mine up (if I have one) is if the Govmt. would guarantee me that first they will disarm all the bad guys, don’t take them off the good guys and leave the bad guys with theirs. Perhaps you could post the stats on how many people in the U.K. were killed last year or 2011 with guns. Probably zero as gun ownership is not allowed.
By the way you are entitled to your opinion like everyone else is and don’t let anyone take that right away from you………..Hail Hail..
1) Lennox
2) Stand with windows
3) Coyne, Creaney
4) Played away
5) Derby, Nott For, Notts co
6) Grant
7) Falkirk, Hibs
Steinreignedsupreme
21:05 on 11 January, 2013
The Raven20:53 on11 January, 2013
“any other ex celt would have beeen slaughtered for that in my opinon…………..”
If any of the ex-Celts you are thinking about are Nicholas, Burley, Provan or MacLeod – one of the major differences between them and Billy is they never have a good word for Celtic.
——————————————————————————–
Fair point mate……………..
Only my tuppence worth, but I am disappointed to see Billy describe
sevco/rankers as a great club and institution
http://i.imgur.com/iNSBd.jpg
Says it all really
Horses mouth et al
Hail hail
Mike
1)Which Lisbon Lion made the most substitute appearances at his time with Celtic? Lennnox
2)In 1894, what architectural feature, the first of it’s kind in the UK, did Celtic add to Celtic Park? Press ‘Box”
3)Which 2 strikers scored their only Celtic hat-tricks against Montrose in 1992? George McCluskey Gerry Creaney
4) What was unusual about the opening league game against Killie in the 1972/73 season? 2 Danny Mcgrains
5) Name Kelvin Wilson 3 previous clubs? Notts forrest & Notts County, Preston
6)Which player made the most substitute appearances with Celtic
Joe Miller
7) What 2 other Scottish teams has Anthony Stokes played for? Falkirk Hibs
CRC
OK STEVIE CHALMERS wiz the only one
Evening all
Been reading the blog and in particular the comments re Big Billy. Whilst I disagree with much of what he says – and would imagine his comments were edited to fit the editorial line- I’d have thought they were sincerely held opinions which are a million miles from the kind of sychopantic soup taker of Walker or the sub-literate , uninformed garbage of Charlie Nick. Life – and this blog- would be dull if well thought and said the same as each other.
But did anyone see BBC Shortbread at tea-time? The advertised welcome to the EPL with open arms from two top managers didn’t seem to square with what I saw and heard Arsene Wenger and Harry Redknapp actually say. The state broadcasting of 70s Albania was probably less Orwellian.
H x 2
prestonpans bhoys
21:13 on
11 January, 2013
wHoops :-)
1 lennox
2 Flushing Toilets
3 Creaney and Coyne
4 same shorts
5 Notts County Notts Forrest Preson North End
6 Grant
7 Falkirk and Hibs
…………Jeezo……… its a tuff turn for the shape-shifters………..
Answers to round 1
Lennox
A Press box
Creaney & Coyne
It was played on a Saturday evening at Hampden due to work at CP
Notts Forest, Notts County & Preston
Maloney
Hibs & Falkirk
Which Lisbon Lion made the most substitute appearances at his time with Celtic?Lennox
2)In 1894, what architectural feature, the first of it’s kind in the UK, did Celtic add to Celtic Park?
3)Which 2 strikers scored their only Celtic hat-tricks against Montrose in 1992? Creaney & Coyne
4) What was unusual about the opening league game against Killie in the 1972/73 season?
Played at Hampden?
5) Name Kelvin Wilson 3 previous clubs?Notts forest & County,Derby
6)Which player made the most substitute appearances with Celtic
7) What 2 other Scottish teams has Anthony Stokes played for?
Falkirk Hibs
The Raven
21:09 on
cheap shot from a stirrer in my opinion………… were u get that from ?
my opinion!!!
Q. How many NRA members does it take to change a light bulb?
A. More Guns
KW played for a team near me innaw
:>)
Just got in-too late!!
On the Cesar thing , I feel that the matter of Big Billy not being in the best of health should be taken in to consideration ,only sayin :0)
HH.
CRC
Right I give up : -(
knowyourhistorynot.csc
Scores after round 1
Setting Free the Bears 10
praecepta 9
tarrant 8.5
The Spirit of Arthur Lee 8
Can I Have Raspberry On That Champions League Ice Cream 6
joe_joe_john_bobby_teddy 5.5
channelislandcelt 4.5
DJBEE 4
ernie lynch
21:08 on
11 January, 2013
aye, mibbe, as ole Elvis C said, we’re just white niggas… genetically predisposed to violence, and all sorts of abominations – I feel cheated.
I suppose its inclusive that we can have a couple of wasps – maybe without the “P” bit, though thats immaterial – telling us how inferior we are and, at the same time, trying to turn us against the next sub-human.
Round 2 of 5: From the following list, select the 5 Hoops players that have scored more league goals for the Hoops
(To clarify: For a sub appearance to count, they must have entered the field of play)
(2pts if you are first to answer Q correctly, 1pt if correct but not first. One submission only per round )
Andy Payton
Billy Stark
Johannes Edvaldsson
Lou Macari
Lubo Moravcik
Maciej Zurawski
Mark Burchill
Paolo Di Canio
Robbie Keane
Tommy Johnson
jimbo67 21:14 on 11 January, 2013
The media has to make Sevco feel important sure.
If the English want the Zombies that much, then the’ll have no problem moving down there…
Payton
Johnson
Magic
Lou mac
Burchill
MaCARI
edvaldsson
zurawski
Burchill
payton
Round 2 of 5: From the following list, select the 5 Hoops players that have scored more league goals for the Hoops
(To clarify: For a sub appearance to count, they must have entered the field of play)
(2pts if you are first to answer Q correctly, 1pt if correct but not first. One submission only per round )
Billy Stark
Lou Macari
Lubo Moravcik
Maciej Zurawski
Tommy Johnson
Maciej Zurawski
Tommy Johnson
Billy Stark
Lou Macari
Lubo Moravcik
Paolo Di Canio
weeman67
Some other time for my answers.
However, i respectfully suggest that you coud quite easily research some of your own questions and obtain some of your own answers too.
it is a complex area but if you want to know how many murders were committed by immigrants, I would say “All of them bar those in the vicinity of The Little Big Horn”
delete the last one doh!
Good night Timland
Off before the Moooon hoooowler’s appear.