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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RL,
interesting stuff, hopefully its the final bit of the jigsaw hmrc needed before moving in and declaring their hand.
RogueLeader
According to FF, what do we ‘Taigs’ know.
Stupid zombies stumbling towards the edge of a cliff…
tomtheleedstim – A bit of a random question this but……. does anyone on here work in the tv advertisement industry?
It was Ernie Lynch himself who, during one particularly cocaine-fuelled brainstorming session with other Armani-clad, ponytailed creatives, coined the slogan “If you like a lot of chocolate on your biscuit join our club”. (thumbsup)
Chuckles and Fat Boy on SSN spinning to the Zombies
Green said: “Let’s be honest about it, the reality is that this year was always going to be a challenge.
“The minute we were put into the Third Division, in my position as CEO I should probably have made 20 to 25 per cent of the staff redundant.
“We didn’t and as a board and an investment team we wanted to keep the management team intact. We’ve got fantastic staff and fantastic loyalty along with great knowledge and skillsets.
“If you believe, as we do, that Rangers over the next couple of years will go back into the top flights of football in Scotland and Europe, it’s important we keep that team around us.
“I suppose this year, financially speaking, is a difficult year for us. It’s a start-up year and we’ve got lots of exceptional costs.”
So the guy who wrote the Forbes article got that part right then? LOL!!!
Formation Group ?.
Is that the same Formation Group that Charles Green founded in 1992 .?
I
McCoist just said “we have a great scouting system”. Comedy gold.
ASonOfDan @ 15.30
Aye mate, although the STV report didn’t make that clear…I felt it unnecessary to drag out the original story, without clearing up the fact that there was another banner and how it came into conflict with their obvious agenda.
Celtic charged…………Accusations found to be false……..end of.
Hail Hail
Teuchter ár lá
RetaliatefirstCSC
“The reality is this money isn’t required to keep Rangers afloat as we’ve taken merchandise back in house, we’re looking for more sponsorship and maybe naming rights for the stadium.
“These are all things I’ve spoken about before and they will secure Rangers’ future. Because we’re developing things such as Edmiston House, we’ll get better revenues.
“We’re trying to work with Glasgow City Council and the housing association to try to reignite the property development outwith the stadium.
“There are lots of things we have on the table that will make sure Rangers can generate income and will be self-sustaining. This fundraising will just make it happen much quicker.”
I love Chuck! Fill yer boots, ya stupid zombies…
SSN
Charles Green league reconstruction WTF
I just heard a dour faced Chico describe Sally as a ‘great manager’
COMEDY GOLD
ASonOfDan – so he is going to use some of the money to give to Sir Minty to buy back something the old Rangers owned?
That will go down well. Particularly when they see the pans for the rooftop cafe in sunny Govan…..
PS wasn’t joking about the rooftop cafe
Fat Sally drooling on about player investment and how he lost the likes of Steven Davies.
Question?
Do you need half a dozen players like Davies to win the Second Division next season?
Stupid, stupid zombies…
Philvis – lol. stopped for a bit, and then lol’d again.
Mort,
where did you get that info,
Ltd being wholly owned by Plc
Green is playing them like fiddles. I honestly can’t believe that they are so willfully stupid after their experiences with Murray and Whyte.
When this all comes crashing down it’s an absolute certainty that the stupid sevcovians will turn around and say “WE WEREN’T WARNED!”
This comedy is going to run and run; get the popcorn out!
“If you believe, as we do, that Rangers over the next couple of years will go back into the top flights of football in Scotland and Europe”
If not fast tracking them to a reconstructed top division, the earliest they will be in the SPL and Europe will be 2015/16.
And CG recently say they wouldn’t go back into the SPL!
SffS
Canamalar
The details of who owns what are all included on the Annual Return, filed at Companies House each year by every company. It’ll only cost you a quid to have the info you’re looking for on each of the subsidiaries in question.
TBB,
cheers, just confused why a wholly owned subsidiary would have capital shares.
hail hail
I love the idea of some investment money being used to buy back Edmiston House
Who did Minty buy it from and how much did he pay for it ?
Whose money did Minty use when he acquired ownership of Edmiston House ?.
What is Murray asking for Edmiston House ?
SoT,
£49M to cover the last share issue :oD))))
CG is playing them along nicely, he’ll be spouting that If Celtic can raise so much money from a share issue then we can beat them next to rally the sevco mugs, that’s all he has to say to get them going. I cant wait till there new club die’s like the last one, fingers crossed they dont try and create another one, surely they’d be too embarrassed but they are such idiots that you can never rule it out.
cheerionumptyfccsc
I live in Sheffield and know lots of Sheff U fans who thought that Charles Green was a complete *rse! They were all glad to see the back of the ‘diamond geezer’.
He is 100% CONMAN. All he needs to complete the picture are a couple of chunky gold bracelets, two or three gold sovereign rings, a trilby hat and a velvet collared overcoat. Awright gav!!!!!
The longer he stays at Castle Greyskull along with Le Coist the better….no Valhalla around the corner for them!
Whats 4.5% of nothing?
canamalar
From the Celtic FC Ltd accounts. There are 2 shares each worth £1 in Celtic FC Ltd. Celtic Plc own both shares.
Mort
tomtheleedstim , i know of one but wouldn’t ‘out’ him on the blog.
drop me a line to sannabhoy@gmail.com and i’ll check with him.
Sanna
!! Bada Bing!!
The same as 4.5% of Sevco away wins in Division Three.
SoT
Take it easy….you know Awe Naw’s trying to write a’ these questions doon :)
Teuchter ár lá
Kayal 33
How funny was that watching the two clowns trying to punt a dead horse lol Sally and his world wide scouting network pmsl it just gets funnier by the day.
If that was peter and Neil you would die of embarrassment hail hail
SoT-The helpful Minty took the Albion training ground off them for a whole pound.Tarmaced(sp) it then charged them £7.50 to park on it.
Malc said:
“Gawd knows, the MSM have printed more than enough lines about them, why does an exclusively Celtic site have to add to the tonnage?”
If you are still around ,Malc and the question was not rhetorical,surely we have to “add to the tonnage” to offset the nonsense spouted by the MSM?
I believe that CQN was set up for that very reason ie to counteract the bias of the MSM. Naturally, with the events that have been taking place over the last couple of years, their has been a lot of counteracting necessary!
JJ
JJ
Edmiston House is like a new signing said Mark Hateley.
Tallybhoy,
looks like I owe you an apology,
Mort,
the info earlier is what I also believed but not according to this
http://wck2.companieshouse.gov.uk/326dcff61e249534ce6be6bb9a913b8d/compdetails
TBB
is this the books I should be paying for or is there another comany name
mort
Why am I mistaken regarding the Celtic Football and Athletic Company?
I did say that they are a wholly owned subsidiary of Celtic plc.
I am aware of what Fergus did – I just failed to mention it in my earlier posts.
HH!!
“their”? My God, what is happening to me!
If they have a ‘solid business’ how come they cannot pay the electricity bill?
If they have a solid business and no debts, why don`t they just get a loan? That`s what most solid businesses do.
Almost time to check out this fabled share offer (scam). I hope we can order a prospectus from the site.
Then rip it.