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?
[calameo code=000390171a36dad35d58c lang=en page=4 hidelinks=1 width=100% height=500]
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Kitalba,
Remember all of the “current” owners will need to pass the famous “sniff test”.
A guy called Green – Failed
Some foreign investors – Failed
Now what could happen to change their minds?
Walter Smith – “I’m buying them, what an opportuntity”
Ally McCoist – ” I’ve already got 500,000 of them without paying a penny”
Sandy Jardine – ” How can this fail? A guy has privately endorsed them, he’s called a NoMad, therefore he’s NoMad”
Tommorrow will have a list of names waiting to invest, some will have had EBT’s ans os are giving something back.
All guaranteed to get the bears on side, forget the detail, just buy.
Paul67
Not to take up anymore of your time bud but if the first was “Glasgow” and the second is “The”,should we be preparing ourselves for-
“Third LanOrc?”
“…..ans os are giving something back.”
“….and so are giving something back.”
Alan Pardew told his team to forget about the Wonga controversy and go out and give 4017%
Britney fakes it……?
ScotPatsFan,
Yes – and if he argues that the shares are in the club this time then how can he argue that it was different last time?
Is this guy a zombie as well? hunbelievable…
British cyclist Alex Dowsett believes Lance Armstrong remains “a legend of the sport” despite the doping accusations against the American.
The United States Anti-Doping Agency banned Armstrong for life and stripped him of his seven Tour de France titles.
Team Sky rider Dowsett, 24, said: “He is still a legend of the sport. A guy who had cancer came back and won the Tour de France.
“I think it’s not really important and I really don’t think it matters.”
IanBhoy929
12:33 on 11 October, 2012
My birthday tomorrow, liquidation of the Zombies would be a marvellous present.
Me too! Agreed on a brilliant pressie!!
Urcyl
ianbhoy
me 2 been hopeful for weeks now that they die on the real glorious 12th.
quick question can they really float a share issue without audited accounts signed off?.
and if they can how stupid would you have to be to be buy them?
also been reading back and would like to offer up a wee prayer for Oscar and his family , and to the rest of the people on hear with loved ones needing care.
god bless and give them strength.
Paul,
Sorry if I have missed the point but if Sevco are a brand new company what impact would a tax case against the dead club have on Sevco?
Guys –
Yesterday I asked if you could spare a prayer or a thought for my mate Stevie who was ill. Unfortunately Stevie passed away last night.
Stevie was a lifelong Clydebank supporter, and never stopped supporting that club even though it ceased to be a senior club some time ago – he still had his memories.
Stevie also introduced me (when we were at Glasgow College of Technology back in the 70’s) to the wonder that was Whitbread Pale Ale.
Clydebank (the senior club) died in 2002.
Whitbread was no longer brewed after 2010.
Stevie died on 10/10/2012.
Things happen in threes, don’t you know.
RIP Stevie Keith, a top bloke.
Curly
Curly – sorry to hear that mate. All the best.
From the Investment site Paul mentioned in his article. An awful lot of ” Unknown.”s. Is that the norm for these kind of things?
“WHOIS information for rangersshareoffer.com:***
Domain ID:
Domain Name: rangersshareoffer.com
Created On: 10-Oct-2012 00:00:00
Expiration Date: 10-Oct-2014 00:00:00
Sponsoring Registrar: ASCIO TECHNOLOGIES, INC. (ASCIO TECHNOLOGIES, INC.)
Status: ok
Name Server: ns1.netnames.net
Name Server: ns2.netnames.net
Registrant ID: Unknown
Registrant Name: UnknownRegistrant Organization: Unknown
Registrant Street1: Unknown
Registrant Street2: Unknown
Registrant Street3: Unknown
Registrant City: Unknown
Registrant State/Province: Unknown
Registrant Postal Code: Unknown
Registrant Country: Unknown
Registrant Phone: Unknown
Registrant Fax: Unknown
Registrant Email: Unknown
Admin ID: Unknown
Admin Name: Unknown
Admin Organization: Unknown
Admin Street1: Unknown
Admin Street2: Unknown
Admin Street3: Unknown
Admin City: Unknown
Admin State: Unknown
Admin Postal Code: Unknown
Admin Country: Unknown
Admin Phone: Unknown
Admin Fax: Unknown
Admin Email: Unknown”
JJ
Paul 67
Why the Hurry? Indeed.
Murray Mint Murray Mint
Too good to Hurry Mint….
Ireland is on the verge of securing revenue from oil that could run into billions of pounds.
Providence Resources Plc, an Irish and UK company, has confirmed its Barryroe site, 30 miles off the Cork coast, should yield 280m barrels of oil.
Just not a good at all for the zombies…
LordLuvRocket
12:24
Feckin hilarious!!
The Falcon / greenjedi .
An Italian TV commentator was sacked for saying this whilst commentating on the Hautacam stage of the 1996 Tour de France [ the one where big lump Riis zoomed up the hill like a man possessed ]]
” Looks like he [ Riis ] has risked 60% whilst the rest are still on 56 %”
Thereafter Riis was known as Mr 60 %.
Italian cycling media could never mention Indurain without mentioning Sabino Padilla.
Curly
Really sorry to hear your news.
RIP Steve
kitalba
11:51 on 11 October, 2012
If Jabba and those of his ilk throw their weight behind Chuck and it goes tits up
they may find themselves on the end of a few threatening phone calls.
Bear on bear action I heard it called on here. Here is hoping.
To quote Kevin Keegan I would love it,love it if Jabba was hoisted by his own petard
or should that be retard.
HH
Curly
Sorry to hear about the loss of your pal.
SwanseaBhoy
Philbhoy – It’s just the beginning!
11:31 on 11 October, 2012
ASonOfDan
Is that the same thing as Desmond having fancy shares that pay him a huge dividend, whereas my shares have paid me brussell sprout since I bought them years and years ago?
Philboy,
If I may disagree with you there, the shares that we bought years and years ago have made our club what it is today the shares that they are being asked to buy will be to pay for the milkman…:-)
Comment from FT Alphaville
http://ftalphaville.ft.com/2012/10/11/1204671/ship-of-theseus-seeks-flotation/
Paul 67
Have rangers/the rangers/sevco/ra peepil not been punished enough?
Surely they should be in the SPL debt free with no penalties & with access to European football?
Any of the oz bhoys know if barca game gonna be on next week out here ?
Curly
Sorry to hear about your mate may he rest in peace.
Curly
Sad news about your friend. May he rest in peace.
Can a club in administration have a share issue?
Charles Green press conference to announce the share issue was short and sweet:
“Snake Oil for sale. Roll up, roll up! Get your Snake Oil here…’
estorilbhoy ,
The question you ask is the West Lothian Question and the Quantum Wave-Particle Duality Principle all rolled into one!
asonofdan
12:43 on
11 October, 2012
Is this guy a zombie as well? hunbelievable…
British cyclist Alex Dowsett believes Lance Armstrong remains “a legend of the sport” despite the doping accusations against the American.
The United States Anti-Doping Agency banned Armstrong for life and stripped him of his seven Tour de France titles.
Team Sky rider Dowsett, 24, said: “He is still a legend of the sport. A guy who had cancer came back and won the Tour de France.
“I think it’s not really important and I really don’t think it matters.”
——
Asod – maybe because the drug taking is endemic in the sport and they are all at it, hence the continued support.
Curly
Sorry to hear about Stevie.
I am sure you will let his family know he was in our thoughts.
Curly, that’s a damn shame – you didn’t say but I doubt Stevie was out his fifties?
You just never know.
RIP.
hoopy-do
13:12 on 11 October, 2012
estorilbhoy ,
The question you ask is the West Lothian Question and the Quantum Wave-Particle Duality Principle all rolled into one!
—
Hoopy thanks, I’ll go back to playing with my play dough then :))
estoril
Charlie is claiming to be the club with 140 years of history,its not hard to work out why the tax case would impact upon his tenure,would it?
I don`t profess to have much knowledge about business or money, but Ra sherr ishoo by Zombie FC looks to me a sure fire winner, (unlike Kevin Kyle) therfore i`m going to use a lot of the cash from the trees in my back garden to pay for it.
EatyourheartoutFergus CSC
Tiger Tim – you’re right, we need to be ready for the onslaught of stories about the high profile investors lining up to buy shares. It’ll be the season book sales campaign on stilts!
I will personally be laughing at every name and face that is trotted out to endorse the sale.
Message to Sevco fans – fool me once, shame on you, fool me twice………… (prefer the George W version but hey….)
Godd day, Bhoys and Ghirls,
Posted this last night, but thought it was worth reposting for the ‘daytime’ lurkers.
Got back last week from a wee hol on the Costa del Sol, using an apartment hosted by one of our own. I know it’s a bit late in the year now, but take a look at the website and if you fancy it copy the link for future use.
Highly recommended, very comfortable, easy reach from Malaga airport, well placed for various activities, sights and cultures. (We indulged ourselves in an overnight in Seville, about 3 hours drive away!)
http://www.nice-costa-apartment.co.uk/
Curly,
Sorry to hear about your friend – RIP Stevie.