ian1964 10,651 Posted May 24, 2011 Share Posted May 24, 2011 Link from kiddyfiddlerstreet Do you want know a secret? A few people have been asking similar questions over the structure of Rangers’ takeover. It is more productive to write a post about this rather than answer the same question many times. The interesting part about this comes from the obsessive secrecy surrounding this transaction. The secrecy is a bit of a surprise given that one of the few logical reasons for buying a football team is to get a lot of free publicity (David Murray got to go gambling with a billion pounds of HBOS’ cash due to his ability to cultivate an image through his ownership of Rangers. He was not keeping it a secret). Murray International Holdings Ltd sold its 85% shareholding to a company that was then called Wavetower. Wavetower also purchased Rangers’ Ã?£18m bank debt from Lloyds. They did not clear that debt. Rangers FC now owes its parent company this money. (An additional Ã?£10m or so is also owed to other creditors. This has also not been cleared). Wavetower changed its name to The Rangers FC Group Ltd. on 12th May. The directors of The Rangers FC Group Ltd. are: Craig Whyte Andrew Ellis Phillip Betts The single share issued in the company that owns Rangers is held by: Jordan Nominees (Scotland) Ltd. Nominee shareholdings are used to hide the identity of the shareholders in a company. There are legitimate reasons why you might do this e.g. if Shell had just developed a new type of fuel and did not want its competitors or partners on other ventures to know that it was behind the new invention. They would register the patent under a company that uses a nominee shareholder to disguise the true owner. The nominee shareholder is obliged by contract to act on behalf of the real “beneficial owners”. So, if you did not want your name in the papers as being an owner of Rangers FC, then you can hide behind a nominee shareholder while still having legal authority over your investment. Given that Craig Whyte, Andrew Ellis, and Phillip Betts are listed with Companies House as directors, they do not get much benefit from secrecy. Presumably there is someone else behind the scenes who would like to keep a low profile. The secret of who really owns Rangers would be of interest to virtually the entire population of Scotland and many people beyond. Do not expect anyone in the Scottish media to even dare raise this issue. http://rangerstaxcase.com/2011/05/23/do-you-want-to-know-a-secret/ 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,499 Posted May 24, 2011 Share Posted May 24, 2011 (edited) The usual bunch of crap. Ian, you really shouldn't post links to McGillivan's site and give him more hits to further his lies. The single share issued in the company that owns Rangers is held by: Jordan Nominees (Scotland) Ltd. So we have the stock exchange announcement saying that Wavetower is owned by Liberty Capital and some mad bigot saying it's owned by Jordan Nominees. Hmmm. I wonder which to believe? Jordan is a company which sets up new off-the-shelf companies, and would have registered its share as being owned by its nominee company. When it is set up, it will be initially registered at Companies House, including a note of who owns the share. When the off-the-shelf company is bought, in this case by Andrew Ellis, the share in the company will be transferred to its new owner. However this does not need to be registered at Companies House at this point. It will only be when the Annual Return is submitted will this information be updated. An amateur sleuth may come along and incorrectly assume that the information held at Companies House on shareholders is up-to-date and jump to some wild conclusions, but it's not and yet again, more lies are being peddled about our club. Edited May 24, 2011 by Bluedell 0 Quote Link to post Share on other sites More sharing options...
ascender 352 Posted May 24, 2011 Share Posted May 24, 2011 Had to laugh when i started reading this post as I knew exactly where it was going. This is really basic stuff isn't it? I mean, even I know what Jordans do and how these off the shelf companies work. 0 Quote Link to post Share on other sites More sharing options...
Gers4Life 0 Posted May 24, 2011 Share Posted May 24, 2011 These tossers at kiddie fiddler street have nothing else more to do with their time that peddle lies and complete non starters to get them over the summer holidays after the mighty Rangers won the title, there so desperate to type Pish! They get a wee high by doing what they do as they can't write anything logical! They are like lemmings, completely utter useless and devoid of any ideas and they are still hurting, boo hoo Let's remind them! CHAMPIONS AGAIN OLE OLE! CHAMPIONS AGAIN OLE OLE, CHAMPIONS AGAIN! CHAMPIONS AGAIN! CHAMPIONS AGAIN OLE OLE!!! 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,651 Posted May 24, 2011 Author Share Posted May 24, 2011 These tossers at kiddie fiddler street have nothing else more to do with their time that peddle lies and complete non starters to get them over the summer holidays after the mighty Rangers won the title, there so desperate to type Pish! They get a wee high by doing what they do as they can't write anything logical! They are like lemmings, completely utter useless and devoid of any ideas and they are still hurting, boo hoo Let's remind them! CHAMPIONS AGAIN OLE OLE! CHAMPIONS AGAIN OLE OLE, CHAMPIONS AGAIN! CHAMPIONS AGAIN! CHAMPIONS AGAIN OLE OLE!!! Champions Rangers party at Ibrox http://news.bbc.co.uk/sport1/hi/scotland/13406674.stm :spl::spl::spl: 0 Quote Link to post Share on other sites More sharing options...
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