Mather & Stockbridge meet Dave King in South Africa

[trueblue 64 57]

king had his say. he said greens plan was unworkable.

 

he hasn't said otherwise since and its easy to see why. !

 

i think we can safely say he still feels the same until he says he doesn't

 

So King is happy at being used as a pawn in a PR stunt.

[ian1964 10,724]

I'm surprised King hasn't denied or confirmed this yet!

[the gunslinger 3,366]

So King is happy at being used as a pawn in a PR stunt.

 

it's only a pr stunt if he backs them. if he doesn't after the visit it's a pr disaster.

[forlanssister 3,114]

If this was a PR stunt by the board King would have rubbished it by now.

 

Perhaps he's waiting till he finally stops laughing?

[Zappa 0]

As I said before, there are no Green shares on offer any longer, likewise Ahmad ... AFAIK.

 

The announcement on the 1st October that Green's 'disposal' of shares on 10 September means he no longer has a notifiable interest doesn't actually mean he no longer has shares. It only means he no longer has 3% or more.

 

That so-called disposal of shares was a whole month ago and yet there's been no announcement/s to suggest any increases in notifiable interest which need to be done for every 1% increase above 3% if I'm not mistaken, so where did his shares disappear to? Who bought them?

[der Berliner 3,749]

STV ...

 

Sandy Easdale, co-owner of Greenock-based McGill’s Buses, announced on Friday that he had concluded a binding agreement to buy Mr Green’s remaining shareholding in May 2014.

 

On Tuesday, in the notification to the exchange about its increased shareholding, Laxey Partners noted that its 4.99% holding in Rangers was its current position and did not include the shares due to be transferred to it from Mr Green.

 

I would assume that he sold any rights to these shares to Laxey and Sandy Easdale. Thus, I also assume that if King buys shares now, he will not fill Green's purse.

[Darthter 542]

Thus, I also assume that if King buys shares now, he will not fill Green's purse.

 

He won't fill Green's purse, but at the same time not a penny will got to Rangers. King has previously stated that he will only invest in RANGERS directly. Buying shares @ this moment won't do that - only line someone's pockets.

[forlanssister 3,114]

STV ...

 

 

 

 

 

I would assume that he sold any rights to these shares to Laxey and Sandy Easdale. Thus, I also assume that if King buys shares now, he will not fill Green's purse.

 

Then once again your assumption is wrong.

 

He didn't sell anything to Laxey he gave them his shares gratis as Laxey were smart enough not to believe Green's bullshit and extracted a personal guarantee from him. Others lacked Laxey's foresight and that will blow up big time with potentially serious consequences.

[crucible 0]

king had his say. he said greens plan was unworkable.

 

he hasn't said otherwise since and its easy to see why.

 

i think we can safely say he still feels the same until he says he doesn't

 

Do you think he has changed his mind about saying we would run out of money and could be looking at admin by this Xmas ?

[Zappa 0]

I would assume that he sold any rights to these shares to Laxey and Sandy Easdale. Thus, I also assume that if King buys shares now, he will not fill Green's purse.

 

I already knew about the previously announced Laxey & Easdale agreements. What I'm saying here is that there appears to be a significant number of Charles Green's shares unaccounted for at the moment.

 

Essentially, it was announced on 1 October that Green had broken his lock-in agreement and actually sold shares on 10 September which took him below the 3% level, but the only other evidence of a large share transaction on 10 September is the announcement that Sandy Easdale acquired 2,125,000 shares on that date to take his shareholding up to 2,842,957 (4.37%).

 

That means those 2,125,000 shares purchased by Easdale on 10 September were almost certainly Green's and that in itself makes the claim in the 1 October announcement that the company was only notified of that share transaction on 30 September seem unlikely at best.

 

Anyway, this still leaves a large number of Green's shares unaccounted for, so we don't actually know how many shares Green has retained, if any.

 

IIRC, at the time of the Laxey share purchase announcements in August it was widely considered likely that they were buying Ahmad's shares. That does seem very likely given that there were announcements on 13 & 19 August regarding share purchases by Laxey (because they triggered notifiable levels) followed by the 21 August announcement that Ahmad no longer had a notifiable interest.

 

Fag packet arithmetic suggests Green might still have a couple of million shares weighing in at just under 3%.