Keith Jackson: Rangers fans will have to decide..............

[TheTinMan99 0]

The problem is, our support can't agree on the colour of shite, nevermind who should be in charge. On paper, we have around 11% of the company, but in reality we have 100% of the power. Two or three boycotts of home games would see us get exactly who we wanted in in the boardroom. The AGM is the support handing over the power and decision making to those rich enough to think they can buy control of the club. Without the supports consent, they are major shareholders in an empty vessel, and their shares are virtually worthless.

 

Will we finally wake up and take the control back? Naw, we will keep fucking about backing individual agenda's, while the club falls apart around our ears again.

[forlanssister 3,114]

I just thought some of this was better kept under wraps but there will be better minds than my own working on this hopefully...

 

There are better minds than yours?.....

[Zappa 0]

IMHO, you don't make claims about the club running out of money in conjunction with EGM requisitions if you don't have a fair idea of the overall situation. Sure, they may not know everything down to the last penny or some of the outsourced contract details but I'm confident we'd not be in this position if these guys didn't have an accurate enough appraisal of the finances.

 

Oh, I'm sure they'll have a fair idea, but I doubt if they'll know too much more than the fans do now in all honesty.

 

Stockbridge told us (over a month ago?) that the IPO money was all spent and there was roughly £10m in the bank which included a large chunk of ST cash.

 

Now, it was only March 4th that Stockbridge claimed the following - "I think the most important thing from a fan's point of view is that there is cash of about £21million sitting in the bank, off the back of the IPO fund raised".

 

So it's a matter of public knowledge that Stockbridge claimed there was £21m in the bank in March and between then and August, which is only 5 months, either a massive chunk of cash vanished into a mysterious black hole or Stockbridge is a bloody liar!

 

That in itself is probably enough reason for investors to requisition board changes and an EGM without even knowing the full extent of the financial damage or having any sort of accurate appraisal of the finances.

[Zappa 0]

Oops, I made a mistake there. It wasn't Stockbridge who said we had £21m in the bank at the beginning of March, it was Neil Patey of Ernst and Young in this article - http://www.dailyrecord.co.uk/sport/football/football-news/rangers-no-cash-flow-concerns-1742478

 

Still, the point remains regarding all of the IPO cash being blown in 7 months.

 

Despite there being disagreement on whether or not that cash vanishing so quickly is either understandable or acceptable, it's certainly a good enough reason for concerned investors to requisition board changes and an EGM.

[the gunslinger 3,366]

I expect bonus payments in the millions when we see the account. If we get that level of detail of course.

[stewarty 2,063]

All the ones who are following meeja hoose are journos,have a look.

 

First 3 followers are hacks. Suggests to me it's a hack who's behind this account.