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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Do you think because he went to a cafflik school he will get a knock back?
Name: Dr Pol Pot
Address: The Killing Fields, South west, puchean, Cambodia, Cambodia, 001967
Email address: pol_pot@hotmail.co.uk
Proposed investment: £3500.00
Your details
Name: Mr Chalky ArlaAddress: Humble Abode, Our Town, Middle of our Street, Madness, United Kingdom, B42 4TP Email address: sevco@hotmail.co.uk
Proposed investment
Proposed investment: £10000
I have a Mr JP Secundus, Via Appia, Roma ITALIA who is interested?
Also a Mr Padraig Pio…
C’mon wee Oscar, God bless you wee man. In our prayers!!
I know you guys can help.
I think dementia is creeping up on me (please no one take offence) but I went to Jock Steins Testimonial match, I THINK it was against Liverpool but cannot recall any other details! Anyone?
starry plough
The louden maybe??
Lennybhoy, 20:17
It’s way more than that. It’s a total inability to step back and report, to inform, to allow the reader or viewer to form an opinion that they may not have had before they started watching or reading. It’s a disservice to everyone involved.
Parkheadcumsalford, 20:18
Thomson’s blog on all the aspects of their intimidation will go up tomorrow. Circumstances have conspired to prevent the oft mentioned (by me) Youtube Gold film that would go with it but rest assured the 100 million shareholders will not be happy for one moment at the light being shone on them
Don’t you all think it will be counter productive,to pledge re Sevco share issue.
When Green states,the response is tremendous,do you think the MSM will question him.No,me neither .
gretnabhoy
think it was Kennys first time back at Celtic paark after his move..
This comment was made regarding CGs involvement in Sheff Utd in 1996
Despite reporting a 33% increase in attendances and sales of merchandise through the club shop trebling by October 1997, the company that owned the club made a pre-tax loss of £5.88m for the year compared with a loss of £59,000 the previous year.
Mr Green said at the time that this had largely been due to the club’s spiralling wage bill.
I hope the sevco fans dig deep
hail hail
Gretnabhoy
http://www.thecelticwiki.com/page/1978-08-14%3A+Celtic+2-3+Liverpool+-+Jock+Stein+Testimonial
Teuchter ár lá
O.G.Rafferty
as one who has pledged a significant amount into the new share issue I am Appalled at this guy Thomson’s scurrilous antics.
Yours,
Humphrey Backitt Esq.
Bellringer
Notre dame
The paper Bhoy has just been, delivered my Stirling News.
The back page resplendent in the glorious news of Stirling Albion win over the other diddy new third division team.
I’ll put a photo of it on Facebook for those who know me on there.
being near Halloween i went to my usual fancy dress shop. i asked the assistant for a dracula costume.
the assistant disappeared into the back , emerging a few minutes later to hand me a seevco top. I said “sorry dear, i think you may have mislead me. i said i wanted to look like a count.
Blantyretim; can you recall the score. Again I have a feeling we actually got beat! But I honestly cannot remember score or scorers. Just one of these things that pray on your mind and you start to get p..Ss.d off with it!
A wee bit miffed, every time I try to get back onto the pledge site, it keeps taking me back to my confirmation page.
I want to pledge more, what’s wrong with them, are they no wanting ma money ????
fanadpatriot
20:34 on 11 October, 2012
Don’t you all think it will be counter productive,to pledge re Sevco share issue.
When Green states,the response is tremendous,do you think the MSM will question him.No,me neither .
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Agree ,in fact Cg will be in a win ,win situation ,He will be able to announce a great total in the MSM without any question and if it fails to turn to real cash he will say it’s because the Tims sabotaged it .
WWC
HERR FLICK???
FTSB
Yup.
But are they being allowed to get away with it ?
HH
mislead me should have been misheard
CHEERS teuchtar I will print that off. Brilliant. Knew I could depend on you guys HH
Gretnabhoy
see link above from Teuchter ár lá
Hector Shipley of 67 Stein way Bradford has just Shown a 10k interest
bbc a disgrace tonight, doubt the propectus will be as positive as this.
1st clip scoring against well and fades out as commentator screams about scoring against spl leaders, then show a penalty against qos and cutaway as cross comes in for equaliser, all the while talking up the figures and intrviewing stupid huns who say they will invest.
right at the end they comment that cant buy anyone til jan 4 and that ground fine for 3d dvision crowd so no money needed there so they must need to for cashflow to actually kep running.
why is this not said at the start.
who would actually invest with these charlatans, any cretin that does deserves to lose their money.
Glendalystonsils
I hope you haven’t taken the hump
bt
Any news abt the 2 young guys who were found dead in a house over ur way? Ex Holy Cross pupils.
Teuchter sorry about spelling. Thanks again.
jude
still no confirmation yet mate..
Mrs BT knows one of the lads mother..sad time…
I wdnt take a busted couch for free aff Green.
doc, liked your fb pic… o))
bt
Ta Seems a tragic situation!!
Rave on Stirling Albion.
http://twitpic.com/b37g24
Hope that works.
Wee Oscar having a kip in between rounds,wee ghuy’s
a fighter and will beat this.
Keep going son,God bless.
Mr Joke Thecoleman has just shown an interest of £10k. Ref No about 18000 so ignoring all us tims having a laugh, and the reality being 500 squid a pop, that’s them up to £9m already. This could be the greatest IPO of all time. Or maybe not.
Gretnabhoy
I remember half the crowd were booing the other half that were singin’ “We f***** hate Dalglish”. It intensified as he kept scoring.
It was supposed to be about the big man.
Teuchter ár lá
Blantyretim, becoming technologically adept and finding out how to use the ole IPad.
Even managed to use twitpic, easier than I thought.
Mr Ben Johnston knows a thing or 2 about cheating, he’s all in for £10k
I bought a chopper bike and a yellow jumper and changed my name to The Lance Armstrong- do you think the tour de France will bend the rules to let me in with 20 years of unbroken cheating..sorry history- In my favour STV are on my side and have agreed to promote my share issue- in the unquestioning way a PR company would. It could never happen…could it?