There are two questions to look out for when The Rangers provide information on their public offering share issue:
Are the public being offered shares at the same price as investors who sign up prior to the public offering?
In 1994 Fergus McCann offered you shares in Celtic at exactly the same price he paid, giving fans the same value as the consortium which acquired the club from the old board. Will Charles Green do the same? A £20m offering will dwarf the existing share pool but, if the new shares are worth a lot less, the existing shareholders will be able to retain control and the majority of benefits.
How will the prospectus explain to investors the potential consequences of the SPL Commission, and any future investigation if the First Tier Tribunal report, due this month, finds that Rangers did not pay their social taxes as Fifa regulations require?
The SPL Commission into the improper registration of players at Rangers, whose SFA membership the new company acquired, will, if Rangers are found guilty, impose sporting and financial penalties on the successor club which is benefiting from its membership.
If guilty, this will involve the return of prize money for each of the 12 years which are under scrutiny. The league awards prize money to each member club from TV income with the top two clubs earning a significant slice. This alone could consume the majority of funds from the share issue.
Sporting penalties would also be a consequence of a guilty verdict. There is no reference point in world football for issues on this scale, so speculation on what the penalties would be can only be regarded as such, but, if The Rangers eventually win promotion to the SPL, they are likely to face points deductions for multiple years, making it difficult to gain access to lucrative Champions League revenue streams.
The latter question will considerably influence when the new company can hope to break even and allow an informed estimate to be placed on the scale of working capital requirement.
Former directors of Rangers, including Sir David Murray, remain confident HMRC will not succeed at the First Tier Tribunal, but the possibility remains that the verdict will go against the soon-to-be-liquidated club, leading to a fresh wave of football penalties.
The Rangers should now issue potential investors with enough information to decide if this week’s Forbes Magazine article questioning the club’s feasibility is accurate. It should be quite a read.
Although the Sevco consortium promised a share issue since before they bought the assets of Rangers today’s announcement has the appearance of something carried out in haste. The domain name for investors to register interest (www.rangersshareoffer.com) was only registered yesterday and there is no web site yet. Visitors are presented with an alert from their browser informing them that the web site they are visiting has a problem with its security certificate.
Why the hurry?
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Tooting Tim – I watched a fly-on-the-wall BBC doc recently about 5 Creationists in America. I really enjoyed it. I can’t mind the name.
Shabby shabby reporting on Scotland Today. Charles Green: “Rangers are debt-free”; STV reporter: “Rangers have 140 years of history”. These statements cannot both be true.
I watched ‘I Went Down’ via YouTube. Clasic Irish caper film. Unavailable on dvd. Scandalous.
BSR
Time for Mr Kipling I think:)
Our old friend makes breaks cover
http://i59.photobucket.com/albums/g315/GBOGLE10/Sevco.jpg
Green picks his time to whore himself round London,AT in Syria ,is he not? He wouldn’t take him on.
If Newco /Sevco/ Oldco paid their Tax Bill which is currently estimated at £94 million then it could pay the annual salary of 130 nurses for 30 years.
NHS CSC
awe naw
I agree totally ,I wonder who in UEFA may be acting as a middle man in all this
oh no him ffs!
I think he’s taken his tablet today……
Jobo..have a good time!…
Off to Florida myself golfing for a week…will miss Leven on Sunday…hopefully the weather will be kind!
HH
Ian McCall-There speaks a bitter hun/failed football manager.
MurdochauldandHay
Deal me in
Float (Float On) CSC
BT and mic1888 –
thank you and, mic, hope you have luck on the greens. MY next golf will be next year after I avail myself of the 3 half-hour lessons I received as a birthday gift earlier this year.
McCall now talking up Sally’s signings………
Ian McCall hahahaha….get stuck in, get dug in, blame the foreigners etc etc…cattle fodder journalism…
Jobo Baldie 19:12:
Enjoy mate…guess you will be skipping the Coupon this week?
Keep the Faith!
Hail Hail!
Ralston will get a few more shifts on Snyde,another hun apologist.
Jeff Randall – one bitter oldco shareholder.
Financial Blogger Expert – give those shares a wide berth.
JeffRandallSkyBSBCSC!
If only they’d signed Robbie Neilsen, comedy classics on Clyde…
Alex Thomson’s blog will be up tomorrow.
The only comfort for them is that he didn’t get the chance to follow it through on camera.
Less than five hours to go to Liquidation Day.
Hello my name is Craig Whyte,Is there any update on how my friend charlie G is doing trying to get myself & ticketus some money from a share issue.
They said it would not be possible but I just smiled and said “give it a try you really wont believe how stupid they are”.
I would respectfully, but strongly, (LOL) suggest that NO Celtic fan should ‘register interest’ in the zombie2 share offer ……..if the ‘interest’ is reported as very high it will allow the PR machine to go into over-drive, convinced those bhuns who are ‘wavering’ to decide to go ahead and buy shares…….let’s not encourage the silly bhuns …..!!!!?? …….and, by the way, who’s going to make up the £20m if they only receive , say, £8m ? ……..mmmmmmmmm
One thing that is also confusing me is that greengo said he would be ‘moving on’ after 1 year ……. now the media are talking about what he will need to do when he gets them back to the SPL, eventually (LOL) …….they’re all in serious denial………
Haven’t read back, but I hear the GB banner was OK ……….DEAD RIGHT……..
O.G.Rafferty 19:18:
Is it the youtube gold or the other story you alluded to?
Keep the Faith!
Hail Hail!
Jeff Randall what a pussy no wonder the banker’s got
away with it financial expert my arse.
Colin who was just on ssb is a dum dum hun.
Thankfully though with big Peter running scottish football he’ll seek Colin out and administer an appropriate punishment:)
!!Bada Bing!!
From TSFM
andy says:
Thursday, October 11, 2012 at 18:48
Brenda says:
Thursday, October 11, 2012 at 18:44
Long Time Lurker
Ralston from DR on SSB talking the share issue up slightly but a few sevco fans questioning it!!!
____________
would that be Gary Ralston ex Rangers News ?
———–
Andy
The very one :))
That is incredible from Ralston.
He says it was meant ot be from Call of Duty or some XBOX game? Try Resident Evil moron.
The gun man was take from Day or Dawn of the Dead Clip art.
He said it was paramilitary?
Disgusting that he can say that when Celtic have been found NOT guilty of anything of the kind.
Apologist doesn’t cover it.
Clyde aff it’s like sitting in a hun pub…
Starry
Aye….with no beer :)
Teuchter ár lá
Snake Plisken:
How does low-order lying scum cover it?
starry plough 19:30:
Well done that Mhan, not listened to it for 5 months and never again for me.
Keep the Faith!
Hail Hail!
James Forrest
It’s getting there. When due process has taken place because some halfwits emailed the SFA with the wrong banner and Celtic are rightly cleared for him to say that is outrageous and disgusting in equal measure.
Lennybhoy from last page.
I assumed there wouldn’t be a CQN coupon this week?
Jobo Baldie 19:35:
We did one the last international weekend but not fussed myself anyway.
Keep the Faith!
Hail Hail!
seen on TSFM
http://img341.imageshack.us/img341/5230/custard.jpg
Lennybhoy –
in any event, for me to put a line on this week will require me to replenish my account after I blew my balance last Sunday by lumping the lot on Barca!
These phone-in bhuns don’t half talk a lot of old shoite ………