pete 2,499 Posted May 14, 2011 Share Posted May 14, 2011 TIDMRFC The Rangers FC Group Limited (the "Company") (formerly named Wavetower Limited) Update re posting of circular Further to the announcement made on 6 May 2011, the Company announces that, with the agreement of the Independent Board Committee of The Rangers Football Club P.L.C. and the Takeover Panel, it has extended the timetable within which a circular will be posted by the Company to all of the shareholders of The Rangers Football Club P.L.C. to a date on or before 6 June 2011. Enquiries Ian McKerron Hay McKerron Associates 0141 286 2633 END (END) Dow Jones Newswires May 13, 2011 12:55 ET (16:55 GMT) 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted May 14, 2011 Share Posted May 14, 2011 In the 6 May announcement it was stated that "Wavetower intends to post a circular to the Club's shareholders by 16 May 2011 containing background information on Wavetower and other relevant information". All this new statement means is that Wavetower have pushed that deadline back 3 weeks till the 6th of June. It also looks as though 'Wavetower Limited' is now called 'The Rangers FC Group Limited'. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted May 14, 2011 Share Posted May 14, 2011 This was the previous announcement (the London stock exchange one) - Company Wavetower Limited TIDM Headline Acquisition(s) Released 18:28 06-May-2011 Number 11827-1D10 Wavetower Limited ("Wavetower" or the "Company") Acquisition of controlling interest in The Rangers Football Club P.L.C. Wavetower is pleased to announce that it has today acquired 92,842,388 ordinary shares, representing approximately 85.3 per cent. of the issued share capital in The Rangers Football Club P.L.C. (the "Club"), for a consideration of �£1. Wavetower acquired its interest in the Club (the "Acquisition") from Murray MHL Limited. The Acquisition would ordinarily have required Wavetower to make a general offer in cash under Rule 9 of the Takeover Code to all other shareholders in the Club but, as the consideration paid by Wavetower for the shares acquired is �£1, the Takeover Panel has granted Wavetower a dispensation from making such an offer. Wavetower intends to post a circular to the Club's shareholders by 16 May 2011 containing background information on Wavetower and other relevant information. Wavetower intends to maintain the Club's listing on PLUS Markets for a minimum of 12 months from the date of this announcement. Wavetower is 100% owned by Liberty Capital, a company which is ultimately owned by Craig Whyte. Craig is a lifelong Rangers supporter and is very much looking forward to guiding and assisting Rangers in its development over the coming years. Enquiries Ian McKerron Hay McKerron Associates 0141 286 2633 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted May 14, 2011 Author Share Posted May 14, 2011 In the 6 May announcement it was stated that "Wavetower intends to post a circular to the Club's shareholders by 16 May 2011 containing background information on Wavetower and other relevant information". All this new statement means is that Wavetower have pushed that deadline back 3 weeks till the 6th of June. It also looks as though 'Wavetower Limited' is now called 'The Rangers FC Group Limited'. Questions though. What implications\consequence does this movement have. We are seemingly now a Group. What does that mean and why? 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted May 14, 2011 Share Posted May 14, 2011 Questions though. What implications\consequence does this movement have. We are seemingly now a Group. What does that mean and why? No, it's not us that are now a group. We're still 'The Rangers Football Club P.L.C.'. It's just that Wavetower have swiftly changed their name to 'The Rangers FC Group Limited' a week after the takeover. Quite interesting because it must have been done for a reason. 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted May 14, 2011 Author Share Posted May 14, 2011 No, it's not us that are now a group. We're still 'The Rangers Football Club P.L.C.'. It's just that Wavetower have swiftly changed their name to 'The Rangers FC Group Limited' a week after the takeover. Quite interesting because it must have been done for a reason. Yes that is what I find interesting. I wonder if BD or Craig can put a light on it. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,679 Posted May 14, 2011 Share Posted May 14, 2011 (edited) On the change of company name, that's just standard. It's to make the company name more relevant, and hasn't any implications. On the 3 week delay in writing to shareholders there may be an innocent reason for it, but you have to ask why. Are there funding problems? Edited May 14, 2011 by Bluedell 0 Quote Link to post Share on other sites More sharing options...
maineflyer 0 Posted May 14, 2011 Share Posted May 14, 2011 On the change of company name, that's just standard. It's to make the company name more relevant, and hasn't any implications. On the 3 week delay in writing to shareholders there may be an innocent reason for it, but you have to ask why. Are there funding problems? Or spending problems? 0 Quote Link to post Share on other sites More sharing options...
bluebear54 0 Posted May 14, 2011 Share Posted May 14, 2011 Might be to give time for the season to end and the Board to be restructured? 0 Quote Link to post Share on other sites More sharing options...
maineflyer 0 Posted May 14, 2011 Share Posted May 14, 2011 I'd be really disappointed if, after finally acquiring the club, due time wasn't allocated to deciding what needed to be done, costing and prioritising those requirements and consolidating the lot into a coherent business plan. You can do some of this from the outside but you really need to be IN the management seat to do it properly. It wouldn't phase me if he turned round and said it would take another three months to present a fully considered plan. At least I might be inclined to believe it had been thought through. 0 Quote Link to post Share on other sites More sharing options...
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