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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SHUGGIE PAYTON MACARI MAGIC KEANE
CRC
(To clarify: For a sub appearance to count, they must have entered the field of play)
??
Macari
Edvaldsson
Zurawski
Burchill
Payton
PB
Nice try
DiCanio
Macari
Johnson
Stark
Burchill
11 January, 2013
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 4
Lubo Moravcik 5
Maciej Zurawski 1
Mark Burchill 2
Paolo Di Canio
Robbie Keane
Tommy Johnson 3
Jumbo
I agree with you 100per cent. Wenger in particular was being diplomatic. he seemed to stress that they (Celtic and Sevco) would be a loss to Scottish football and more or les suggested that they should stay where they are. I didn’t hear Redknapp clearly.
The Spirit of Arthur Lee
21:21 on
11 January, 2013
erse oot the pub ………….:)
Magnificentseven
21:15 on 11 January, 2013
The Raven
21:09 on
cheap shot from a stirrer in my opinion………… were u get that from ?
my opinion!!!——————- disagree ! ! !….but hail hail! ! !
praecepta
ignore…lastminute.dum re quiz
HH
CRC
Stark
Macari
Edvaldsson
Di Canio
Zurawski
Celtic roller Coaster,
Did Tommy Coyne not score ANOTHER Hatttick.
1st game of season away to hearts 1-3??
Sffs
Seven Fishes Four Steaks
21:24 on
11 January, 2013
Will check it out after quiz
HH
CRC
Stark,Lubo,Macari,Shuggy,Magic
1)Which Lisbon Lion made the most substitute appearances at his time with Celtic?
John Hughes
2)In 1894, what architectural feature, the first of it’s kind in the UK, did Celtic add to Celtic Park?
Crossbar
3)Which 2 strikers scored their only Celtic hat-tricks against Montrose in 1992?
Creaney,Nicholas
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, Notts County, Derby
6)Which player made the most substitute appearances with Celtic
John O’Neill
7) What 2 other Scottish teams has Anthony Stokes played for?
Hibs, Falkirk
weeman67
21:11 on 11 January, 2013
You don’t seem to understand that the argument of the gun lobby is that the constitution gives them the right to hold guns to protect themselves against the state, not against their fellow citizens. The state is the enemy.
So far as I’m concerned if Americans want to slaughter each other that’s their business.
There again I only ever watched Baywatch so I could watch them drown.
….pfayr
19:34 on 11 January, 2013
Was on the road for about seven hours today , caught all the regular sport bulletins
This Sevco to another league is an embarrassing waste of time
They are a Div 3 club with a crumbling stadium and a guff playing squad
Not to mention their totally unacceptable unwanted support
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Well, you ‘hit the nail on the head’ there, Bhoyo………. HH
Stark
Macari
Edvaldsson
Zurawski
Burchill
I do remember Shuggie scoring the best OG in my life at Hunderwell. Overhead kick from almost the half way line in a cup game in the 70’s
SFFS
Beat me to it !
HH.
Answers to round 2
Player Goals
Lubo Moravcik 29
Lou Macari 27
Johannes Edvaldsson 26
Maciej Zurawski 22
Mark Burchill 20
Tommy Johnson 18
Billy Stark 17
Andy Payton 15
Paolo Di Canio 12
Robbie Keane 12
The Originalsadiesbhoy
HR said both clubs were massive , two of the biggest in the world and that if they left Scotland it would at least give somebOdy else a chance of winning. He sounded as interested as I would if asked about Brussel Sprout production in Silesia. ( Admittedly a tad more knowledgeable)
Jimbo
Scores after round 2…..and it’s close at the top!
The Spirit of Arthur Lee 13
Setting Free the Bears 13
praecepta 13
tarrant 12.5
joe_joe_john_bobby_teddy 11.5
DJBEE 8
Can I Have Raspberry On That Champions League Ice Cream 8
channelislandcelt 7.5
Lostinbonnybridge is Neil Lennon. Get well Stan Petrov 4
Celtic Soul Brother- Supporting Kano 1000 4
Prestonpans Bhoys 3
Round 3 of 5: Celtic Picture Board
Name the players that have played for the Hoops?
(2pts if you are first to answer Q correctly, 1pt if correct but not first. One submission only per round )
http://i45.tinypic.com/256efq8.jpg
S Donnelly
P wilson
A Lynch
M Hedman
T Mcadam
P Latchford
R Aitken
channelislandcelt
21:16 on 11 January, 2013
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)
—————————————————————————
Is Billy McNeil suffering from ill health m8
1.Simon Donnelly
2.McNeil,Glavin,Wilson
3.Andy Lynch
4.Hedman
5T.McAdam
6.Latchford Aitken
lou Macari
Andy Payton
Lubo Moravcik
Maciej Zurawski
Mark Burchill
1 Donnelly
2
3 lynch
4 headman
5 macadam
6 Aiken latchford
Si Donnelly
Glavin Wilson McNeill
Andy Lynch
magnus Hedman
Tom McAdam
Latchford Aitken
Donnelly
McNeil
Glavin
Wilson
Hedman
Lynch
Melrose
McAdam
Latchford
Aitken
donnelly
glavin wilson mcneill
lynch
hedman
mcadam
aitken latchford
Valentine’s Day
21:20 on 11 January, 2013
Good night Timland
Off before the Moooon hoooowler’s appear.
_______________________________________
HH to the howlers. You should stay it would be a blast. :P
Donnelly,Glavin and Wilson;Lynch;Hedman;Mcadam;Latchford and Aitkin
Is it Mark Reid behind the better looking McAdam?
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Steaua Bucharest v Celtic
SPL leaders Celtic meet Steaua Bucharest for a mid-season friendly game in Marbella.
rubicon
19:48 on 11 January, 2013
The only “good point” chuclkles ever had was on the end of his nose, and only because it has been kept wet with his constant snivelling …….
The Raven
21:32 on 11 January, 2013
channelislandcelt
21:16 on 11 January, 2013
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)
—————————————————————————
Is Billy McNeil suffering from ill health m8
####
If he is I’m sure he’d appreciate it being discussed on a message board.