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Everything posted by forlanssister
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Neither Laxey nor Prior bought their shares at rock bottom though did they?
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Merlin doing his daily fellating of Sandy Easdale.
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THe Laxey "loan" alone should be reason enough to question their fiduciary duty.
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That's quite a damning indictment also noticible is the lack of dimplomatic nicities that were present in King's previous statements.
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King offered interest free loan but was snubbed
forlanssister replied to Steve1872's topic in Rangers Chat
That's how Capitalism works otherwise it could not function.- 51 replies
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The Easdale "loan" is PR guff from Toxic Jack, as others have alluded it won't be drawn down as there will £1m advanced by Ashley/Sports Direct. The Wonga comparison earlier on the thread is misleading as the Wonga for Business rate is 0.5% per week.
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Rangers Announce Secure Loan - £1.5m. Repayable by 1st Sept
forlanssister replied to chilledbear's topic in Rangers Chat
26.5p is the maximum price they will have to pay, they know we'll need a rights issue and a lower price actually suits them as they're effectively lowering the average cost of their shares meaning they can exit with a profit with a lower share price than at present.- 112 replies
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Rangers Announce Secure Loan - £1.5m. Repayable by 1st Sept
forlanssister replied to chilledbear's topic in Rangers Chat
More than that when you factor in sigle match ticket sales, hospitality, cup games etc.- 112 replies
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Rangers Supporters Association, Assembly and Trust - Statement
forlanssister replied to Zappa's topic in Rangers Chat
It appears Wallace is happy enough to lend his name to anything, only a matter of time before he gets his £300k payoff. -
Rangers Supporters Association, Assembly and Trust - Statement
forlanssister replied to Zappa's topic in Rangers Chat
Norman Crighton (the Arab on the board) was placed on the board at Laxey's insistance as he himself admitted, he chairs the laughably named "Investment Committee", he appears to be serving his masters Laxey at the expense of everyone else when he has a fiduciary duty to all shareholders. -
Rangers Announce Secure Loan - £1.5m. Repayable by 1st Sept
forlanssister replied to chilledbear's topic in Rangers Chat
One rather bizarre side effect of this deal is that it is now in the interests of our largest shareholder to see the shareprice collapse over the next six months!- 112 replies
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Rangers Announce Secure Loan - £1.5m. Repayable by 1st Sept
forlanssister replied to chilledbear's topic in Rangers Chat
Any hope that Wallace would be a positive influence in the boardroom has all but vanished.- 112 replies
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I look forward to them uniting under the banner of "Amalgamated Rangers Shareholding Entities".
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Laxey originally paid £1 a pop, Prior 50 odd p, neither of them look too clever at the moment eh? Laxey are engaged in some pound cost averaging in order to spare their blushes. If King so much as purchased one solitary share then he is in the event of a takeover obliged by law to offer at least the highest price he has paid for a share in the last six months, you and der Berliner may want to work out the implications of such a course of action. If he followed your advice he may well shut the door forever as far as him having a meaningful part to play in the future of Rangers.
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It's not by accident that RM is the de facto forum of MediaHouse.
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£400k up front and the rest on the drip was the offer for Wallace turning I agree turning that down doesn't really merit much praise.
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As Norman Lamont once said ''gives the impression of being in office but not in power''.
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Reminded me of this: http://www.scribd.com/doc/162271091/Rangers-and-the-Old-Firm-Long-Firm
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They are effectively doing now what Resolution 10 would have allowed them to do had it not been voted down. Also a benefit of it not being a straight share transaction at the present is the fact it is a loan and therefore a debt they are in prime position to control the process of an insolvency event.
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Leaving it open for anyone to complete casts severe doubt on the professionalism of who decided to construct it in that matter. Of course it also gives them a perfect get out if they don't like the results.
- 58 replies
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It does ask for your Rangers number but it's not a requirement of completing survey neither is entering your name/address etc, any Tom,Dick or Tim can complete it.
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By virtue of the fact that it appears Laxey and the Easdales are providing the loan together then they are acting "in concert" therefore no need for any formal pact or proxy agreement. Not quite sure if the Easdales still holding the various proxies and Laxey acting in concert would trigger the need to make a full offer since they would be over the 30% mark anyway, probably not hence the delay in the share part of the transaction.
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Great in theory but doubt the reality will be of much use since any man and his dog can complete it. Should have been restricted to those with a Rangers number if the integrity of the responses was of major importance but perhaps it's a fig leaf.
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It's a bit of a red herring as there are many ways round the 30% rule. They could simply get a dispensation like those across the city, If they don't purchase so much as a single share then convert at say 5p per share any offer just has to be at 5p per share effectively maintaining maximum control at minimal cost.
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This is the Ahmad, Hughes loans all over again, It is pure unadulterated spivvery at it's finest.