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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GB64-HH i dont think it will get voted through either.
My Protestant girlfriend just bought a pair of Union Jack knickers…Every time I take them down there’s a protest.
Kayal33.
If as you say there would be a play off,any odds on players being sent off and penalties.hh
Surprised nobody bigger than Norwich is interested. Profile increased with his UCL goals this term.
Oops, sorry Kayal.
Just on and posted the Ozzie comment right away before scrolling back and now see you’d already posted it. Ah well, it was worth a second laugh anyway.
Fanapatriot
Hail Hail to the postmen and post ladies of West Lothian.
My postie is a credit to his family !
Chuckles is doomed to another season in the bottom league with the fat fool in charge and he never seen it coming ,HENCE THE PERMA RAGE.
Me thinks he was promised things that cant be delivered,And his plan for sevco is now built on sand :))
We will find out SOON ENOUGH!!!!!!!!!!!!!!
From Kayal33’s link posted earlier
“Mariners coach Graham Arnold endorsed Rogic’s imminent move to Celtic, who are the most successful club in Scottish history and preparing for a Champions League knockout tie with Italian heavyweights Juventus next month.”
This is the reality of the situation…
…..if they had paid their taxes, they would not have liquidated
…..if they hadn’t cheated for SO MANY YEARS, they would have won half the titles they did…
…..if they hadn’t cheated, the SFA would not be having to urgently restructure Scottish Football for the financial survival of many of the Clubs
……and your still greetin’……. You are such a pathetic lot……i
osb,
Elizabeth Adam’s tribute to her father exuded class.
Both in the warmth of her appraisal of her father’s life and in her condemnation of the morality of his detractors.
Celtic under17s beat Crystal Palace 2-1 this afternoon at St Georges Centre of Excellence. Well done young Bhoys.
Weefra HH
Stoke are a horrible team to watch…..
Ah Jist Groo..
Ah the Thought o.. Us..
signing..
ANITHER…
TARGET MAN!
Look..his it no penetrated the Intellects o’ oor Crack Team ..o
Coaches.. that
A Target Man.. is only guid fur.. WAN THING..
And??
O.K… Ah will tell ye.
A Target Man, is only as Good as He is… Fur
HEIDING THE BA’
This is His Lone Ability.. If he possesses Such…
And ..If He kin utilize it tae Excellent Effect
By …Scoring…and… Dishin oot.. ASSISTS.. and Clever ..”Knock-Downs”.. tae a well
Position Colleague.
Via, his ..Napper.
Howevahhhhhhhhhhhhhhhhh..
..at the Present Time..
Celtic, Dinna hiv a RELIABLE Set o’ Wingers..’
Who kin Cross the Ba’ … Effectively… or.. Accurately.. tae Create
the Opportunities, fur ..a Big Target Man.. tae Tak advantage o’ his
Heiding Ability.
Neether..
Dae, We.. at the PRESENT TIME..
Hiv a Mid-Fielder..in oor Formation..’
Who kin… create the kinda Assist..that a Big Shambling Target Man.. kin
Handle , wi’ ease.
At this Time o Writing..
Celtic’s Goals Fur… are Made up.. Almost .. Exclusively..
By..
Shots…Tap-ins..and.. Important.. Set – Pieces.( Which is Where.. Maist o’ oor Goals
far a Heider.. taks Place.)
Heiders.. Fae.. OUT-FIELD.. Play?
Whit are They?
Neil..
Tak Ma advice…
FUGGGGETTTABOOT..
Going fur A Target Man.. if ye are Looking tae Bolster Yer
Strike Team.
Kojo
Still, Laughin.
Alasdair maclean
Should be available at the ticket office or online when you print them yourself the GB are in section 111 rear
Burghbhoy
I was told this morning that you did your “Sevco” Postie proud,a nice bottle of nectar to warm the cockles of his heart also I believe he received a lovely gift for “wee Sevco “This generosity is in the blood,green blood,Hail Hail to you and yours.
Re TalkSport,
Is Alan Brazil still there ???
Just looked in. Alisdair McLean what was all that about?????
Sparkx
15:28 on 12 January, 2013
Yes. Breakfast show, Monday to friday
sparkx,
I think they did a constructive dismissal type thing on him.
Kaya33,
Last I heard they were reducing stuff to get a sky team in ?
Neil canamalar Lennon hunskelper extrordinaire
15:32 on 12 January, 2013
Was still on last week, and they were playing trailers to his Monday show this morning. He was sacked a few years ago for missing a show but was quickly re-instated.
Alastair McLean,
Put them on the supporters bus and let them go with Celtic supporters
kayal33
15:04 on 12 January, 2013
That’s in the second season of the new structure…..no play-offs at the end of this season…teams move to the new structure as per their position in the league at theend of this season
Lambert scores against Villa
Villa 1down….
Loyalist mob attack the Short Strand on return from yet another flag waving episode.
Scumbags.
Bmcuwp’s da and the man himself- a raising of a little Balvenie for ye
Fanapatriot
Hail Hail and onwards to wembelee
14.23 Alisdair McLean. That is appalling. No Irish jokes?
Superb OG from Stoke!
Big Tony takes it on the Chin just before HT
harryhoodsdugbitme,
Which bit? S
Sorry – just copied and pasted a joke which made me laugh – not too PC but…
Thanks for the advice on the tickets gents – planning combining a weekend in Glasgow next week…although my wife has just reminded me about a Burns party next Saturday night in Strathpeffer.
Very late night last night in case you couldn’t tell!
Soal
Many congratulations on your runner up spot in last night’s quiz.
HT how are you mate I hope all is good. This should not surprise anyone that they are attacking the Short Strand and what was picketing a hospital and refusing an old man entry to see his dying wife all about. Why are they not sending in riot squads in to arrest this scum. Had it been republicans rather than those scum I am sure they would have been in there swinging away with their batons, rubber bullets and water cannons.
Absolutely hate these barstewrds.
HH
Nice Magner’s ad track-side at the Brox.
Bet that’s going down well.
HT
First past the post
Sevco running an ad along the length of the upper tier enumerating the title won by a dead club that used to play there. Maybe it was left for the new tenants.
Or, Sevco really think they are the dead club, or that if they repeat it for long enough everyone will accept the lie.
Blimey, just read CG’s latest on Sex and the Welsh. He wants Swansea & Cardiff out of the English league yet seems not to have noticed the presence of Berwick Rangers in the Scottish set-up.
MT
Howdy youngster.
Listening to the appeals of the old guy attempting to get through the road block to see his dying wife would bring a tear to a glass eye and violence to the mind of the most committed of pacifists.
Been reading tweets for the last hour and the psyche of the bigots has left me seething.
It would appear that the PSNI were ‘surprised’ when the protesters took an alternative route around the other side of the Short Strand but then did nothing to stop them.