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.
Have you ordered your CQN Annual yet? Get it here!
You can read the latest edition of CQN Magazine free online by clicking on the double headed arrow at the bottom right of the graphic below.
[calameo code=000390171cc0c3617c8cc lang=en page=66 hidelinks=1 width=100% height=500]
1,221 Comments- Pages:
- «
- 1
- ...
- 20
- 21
- 22
- 23
- 24
- 25
- 26
- ...
- 33
- »
Morning all from a cold and grey Gourock. Out for my run this morning at 8am the wind was feckin freezing.
Thankfully a cuppa hot tea in funworld is warming me up now!
HH
/Bishop B
Vmhan
10:15 on
12 January, 2013
BBC report similar:
“In Rathcoole in Newtownabbey, a distressed pensioner pleaded with protesters to let him pass through a road block so he could make his way to visit his seriously ill wife in hospital.
The protesters jeered at the elderly man and refused to let him through.”
What does ECA stand for?
Is it Economically Challenged Athletics?
gsu
.
summa of sammi….
09:47 on 12 January, 2013
.
Is l the Lonely Gershon twat is Note Slappy with Magners Con a Celtic Skirt..?
Summa
..
Oops.. Forgot to turn on iPhone Dyslexia App..
Should have Read..
I’m I the Only Person that is Not Happy with MaGers on a Celtic Shirt..?
:-))))
Summa of OrangeCiderCSC
Ps..I Hope Lenny has Told Rami his Surname is Not Going on His Shirt.. Ha
Italiabhoy
Sarcastic as it was ….it’s what they truly believe
Bishop B,
are doing your transfer list this windae?
gsu
GSU
no, he is thawing out….
Charlie is clearly trying to needle a response from Celtic with his latest “Celtic fans only buy tickets to see the Huns” rant.
Classic Traynor. Attempt to draw us into a fight with them to make them look big and important. He did it so many times at the Record it must be like a reflex action to him now.
Celtic should keep absolutely schtum. Fine to ridicule Sevco in private, and let the other clubs know we want nothing to do with them. But in public we should studiously ignore them.
.
VMhan..
Has Ryan got back Yet..? Seen he had Delays..
Summa
Best wishes to all birthday bhoys n ghirls today, have a good un!
gsu
Not had the time so far this window mhate.
Feckin work eh!
HH
/Bishop B
len brennan is fun world not for the Evans:-)))
blantyretim
Yer Nae wrong there mhate!
HH
/Bishop B
len brennan
10:45 on 12 January, 2013
……….
I remember those days well, down along the yacht club, mcinroys point , IBM, town centre, battery park and back along to Albert rd……. 13.1mls of a Sat morning, I’d struggle to do 1.3mls now.
Having said that, I’m away to take wee Riley a walk along the beach, back in an hour amigos.
V
bobby murdoch’s curled-up winklepickers
10:39 on
12 January, 2013
Happy Birthday to your father. He must be a man of great patience and understanding.
:>}
From the Daily Rectum (had a squatch at in in paper shop but certainly didn’t buy it)
“THE Ibrox manager says Rangers supporters are the ones having the mickey taken out of them with the new proposed league set-up”
Arrogance personified, it is all about them. The sooner the go to the MLS, or what ever fantasy league the think thy can join, the better.
Good luck to lorraine Clark who will be one of the match officials for sevcos game today, watch yourself lorraine dont raise your flag to often or you will find yourself facing a protest
FF thread:
“Female lineswoman on Saturday”
SoS
Aye he left early Wed and got back to the Gold Coast last night our time.
Offski, dogs going bonkers at me.
V
I mentioned this earlier as it has some good articles, give it a look.
http://tirnaog09.blogspot.co.uk/
Italiabhoy
I’ve never been on record as a great PL fan ……however he has played a blinder over the Sevco debacle
He has given them nothing to work with ..
murdochauldandhay- what is she- a maisonette?
vmhan 10:57 on 12 January, 2013
Sounds a decent run mhate.
Only did 6 miles this morning. Was planning more but like my fingers and toes too much. ;)
HH
/Bishop B
Watching Saturday Kitchen always makes me starving .
Green on Talksport
“In the land of the blind, the one eyed man is king.”
When he says that on Clyde, I will be waiting for Keevins and Delahunt to castigate him as they did a caller who referenced the same disability.
I know, it will be a long wait.
Thanks BT and Bishop B,
seen a few rumours flying around re the Aussie lad Rogic and the American Agueldo, both 20 yr olds and good prospects. What a difference a few years make, not talking about signing 30 somethings like big Dion et al
gsu
Good idea on Sevcomedia:
“Cant Charles do a campaign in England !
Get on the talk shows,newspapers, radio. And let everyone know all about our plight.How we have been wronged and how Rangers would be good for the game in England.Tell them how we are a truly British club and how much we support every thing that is British.He could start of by saying not many clubs in Britain sing GOD SAVE THE QUEEN. Just go to IBROX and you will hear it long and proud. Not to mention the Union flags that we fly ,dare say more than at every ground in GB. No football team supports our troops more [just ask them].We have to tell the English people your getting a team that is British to the core .Yes Scottish but our loyalties are with the Crown and always will be. ”
Except when it comes to paying tax.
up over goal 10:16
I was just about to write some words but you did it for me.
Chuckles is playing with fire and the msm are supplying the oxygen, just as they did for Craigy. A little spark and its going off again. One thing certain is that the hun never learns. Its like..’you can dupe me twice but youll never do it a third time’.
I’ve had more laughs the last 12 months than the previous 40 years. A big thank you to all at Sevco and the msm.
gsu
Re the Oz lad he’s currently with the squad at the training camp in Spain. We are reported to have first refusal on him and the price being banded around is $250k (Oz $) so muchco cheap if true.
Seems a real player too.
https://www.youtube.com/watch?v=SayjW4Qa5Cg
HH
/Bishop B
just asked sevco fan that i know on facebook what he thinks of charles green this was the reply i think he is a guy that takes no sh## and has a good buisness head on his shoulders average crowds in sfl3 46/47000 and not even in europe legend mate.
fool ha ha
jamsiebhoy
08:35 on
12 January, 2013
Just found another good Celtic blog http://tirnaog09.blogspot.co.uk/
Loved this article
http://tirnaog09.blogspot.co.uk/2013/01/walfrids-children-world-into-which.html?m=1
————-
Jamsiebhoy – thanks for posting. Read that earlier; that wee history of our inception fair brought a lump to my throat, and a tear to my eye.
Reading about the conditions that existed so very recently in our past really brings home how lucky many of us are today, and really helps focus on those who might not be so lucky.
I’m off to give it to the weans to read, just so they know a bit more about their own background.
Hail, Hail
BGFC
is it fair to say that they will forever be known as Sevco now?
Or if they go into admin again and the process is repeated, do they get some other name from a business registration database?
Yet more comedy gold?
hh
Paul67
I am sure that we can band together and fund some statistical analysis of the Celtic shares price which appears to now strongly correlate to the ribald doggerel from Chals. Perhaps, it will be given its own scientific description similar to the Duckworth-Lewis formula in cricket.
There could be a direct correlation more drivel from Chals , Celtic’s (marvelleous word) share price, there could be confounding variable in that everyone knows Chals is a blowhard, Yorkshire twat and that his very being in charge of them will have the exact reverse consequence (from his perspective) of what he intends. So he spouts tosh ( copyright Speirs) to sell season tickets only to find it boosts his main rivals shares.
Chals overall behaviour is akin to government economic policy ‘ stop spending we are skint – crikey we are just as skint- what do we do know – ah blame the folks furthest away from the problem’ – in a similar way Chals is building up massive long term problems , think players and agents , every single utterance is actually to the long term damage of the former angry govan mob, long may it continue.
Chalsesian probability rules!
jamsiebhoy
11:02 on
12 January, 2013
I mentioned this earlier as it has some good articles, give it a look.
http://tirnaog09.blogspot.co.uk/
Good article on the bunnet, always liked the man who did not suffer fools gladly. He shouldn’t be too far behind the greats in Celtics glorious history.
HH
big georges fan club yes I read that one about our inception and had realised who truly awful it was
The conditions that is, certainly not the birth of our club.
BT
Is it true one guy was at the stage asking what the band were called. ( On the stage a scree each side of the band displayed the Irish tricolour, a harp and the stars and stripes with the words “Fenian Folk”. don’t think you where the only one on the bevvy LOL.
Hail Hail
Keep the faith!
scree = screen