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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I have lots of fears about Broonie playing these internationals and certainly don’t think he can take two games in a row.
If Scotland lose on Friday then that clown will have to go. WGS for the job??
Prince Halibut of Monocle has registered his disinterest. He feels he’d be getting scalloped.
Mr Scot Landshame registered
A well known pundit fae Radio Snyde has just pledged £10,000, snivel snivel.
alex thomson @alextomo
@Zigtkd Tomoblog on intimidation tomorrow morning. Sleep well.
Did emdae hear the sevco fan ask if the new share was different from the £500 bond he has?
A Mrs Isa Kareem has expressed a strong interest and has pledged £9900.
HH!!
….aw theres not another hun pledge site is there????
I’m away to pledge fifty thooosan smackers………..
Aye!
Rangers shares can only be purchased in euros
Apparently they have problems wi Stirling
#SevcoMagicBeans
Is tomorrow not the day BDO come in and liquid them? If so I may bring in some green party poppers to the office – well why not!!!
Until we meet again…
Keep the Faith!
Hail Hail!
Mr L.I. Quidation just pledged £134 million!
….and thats another 20 big ones and 10 large for the zombies………
Just noted mrs Heidi Vodka registered interest …hh
So tomorrow is the day that the court moves things into the liquidation phase for Rangers.
It will be just a coincidence that the Save The Zombies appeal started today then.
Right…who registered Stew Pidhuns..???? C/0 Moonbeams Drive..Mintywell
jude2005 is Neil Lennon \o/
20:56 on
11 October, 2012
Exactly the same apparently. You give them the money and never see it again :-)
HH
CRC
Pledges coming in from Italy as well!
Signor C. Ponzi,
Signor Roberto Calvi.
HH!!
Not one news outlet has deemed it appropriate to show said banner now that we have been cleared.
Starry plough
Re SSB
Hun pub …the most accurate description of that media abomination
Henrik just pledged £10,000.
Link to all the zombie share issue would be much appreciated, on nightshift and need something to make me smile.
Of all the positions that Brendan Rodgers did not want someone injured, it was the striking area
Borini breaks his foot training with the Italian national team
Wee Oscar fund at nearly £270,000. Awesome and some!!!
http://www.justgiving.com/teams/weeoscar
Graham Spiers @SpiersGraham
#Octopus are going to be the Nomad for the SevCo share issue. Octopus are owned by #TicketUs and major shareholder is Craig Whyte! #Duped
Teuchtar. I remember that I got a ‘complimentary ticket’ up in the main stand courtesy of my local priest! But it didn’t stand out in my mind as a game as much as my favourite game of all time. Juve !!
They must be half way through the 500 million global fanbase already surely?!
HH!!
crc
He’ll be glad he didnt buy wee Kyle some for his uni fees!! <o))
DontPatmadug 21:14
that’s a spoof account
https://twitter.com/GrahamSpiers is the real one
Bada Bing …..brilliant lol
Gretnaboy
That was my first game at cp. Dont remember much though i’m sure mcgrain returned from a leg break.
Ooooooo Balotelli
He’s a striker.
Heard the louden and the bristol are havin a darts night to raise funds. Are that lot allowed sharp thingy’s??
John Herron of the u-19’s with the only goal as Scotland U-19’s beat Romania 1-0 in a Euro qualifier
Good on you kiddo
HH..
Going over old ground here. Was driving bout 7.30 and some eejit sevcovian came on SSB to reply to LAWRIE.. Lawrie always good value had obviously been singing Neil’s praises. And the sevcovian without embarrassment talked utter garbage..
Missing the point-he has NO team to support and is getting shafted daily by green..
He encapsulated ALL that is the genetic brain code of a sevcovian and I urge all to listen back to it..
Thick does not even half explain it…
HH
Dr Kharida Khan, 99 Vanilla Crescent just pledged £10k. Lets get there guys
There must be loads of huns investing, my last ref no. was nearly 17k a few thousand more have pledged.
They are saved………
Your details
Name: Mr Gerald Adams
Address: Provo Drive, Belfast, United Kingdom, BT69 FTQ
Email address: gtfhuns@hotmail.com
Proposed investment: £10000.00
Your reference
Application reference: 00000021005