Zappa 0 Posted June 12, 2014 Share Posted June 12, 2014 That goes without saying and, even so, I say it every day. However, it does not and should not excuse King's own shortcomings when it comes to all the above. The Blue Knights, followed by McCollco, followed by King should all have romped to 'victory' in their various battles. The fact they didn't/haven't and the fact they still struggle to lead the way in terms of widespread engagement, answers and transparency (via probable involvement with King) gives their critics too much ammunition. One of the major problems for King & previously the McColl backed requisitioners group is that fans have asked to hear detailed plans from them, when in reality they can't possibly draw up detailed plans until they get themselves into the Club and conduct their own review of the business. They'll have had some info from Malcolm Murray and they may even have insiders still giving them some information, but Dave King won't have a complete enough picture of the current state of play to give us a detailed plan for the company and Club until he's in there. He could give us a plan filled with moonbeams, but that wouldn't be a prudent course of action given that moonbeams are the last thing we want to hear. I do think Dave King will invest heavily if given the opportunity, but it really hasn't looked likely that he'll be given the opportunity for a good while now, so for me, he should seriously consider buying out one of the major shareholders who currently back the board. Ideally, we'd want to see him buying out a big chunk of the shareholding which has been proxied to Sandy Easdale in order to significantly reduce the Easdale fronted block's influence and power. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted June 12, 2014 Share Posted June 12, 2014 Richard Wilson is certainly spot on when he says that this share issue is only a temporary fix because 7 or 8 million doesn't last long at Rangers. It's also unclear if the reported figures of 7 or 8 million would be after any costs incurred, although maybe that's why initial reports said 8 million, followed by Wilson saying 7 million? 8 million raised with a million coming off in costs? 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted June 12, 2014 Share Posted June 12, 2014 All the more reason to be open with everyone and involve everyone from the start. Belatedly McCollco realised that but too late to really affect anything. The union of fans is open to everyone. But the faction hasn't joined up of course. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,739 Posted June 12, 2014 Share Posted June 12, 2014 One of the major problems for King & previously the McColl backed requisitioners group is that fans have asked to hear detailed plans from them, when in reality they can't possibly draw up detailed plans until they get themselves into the Club and conduct their own review of the business. They'll have had some info from Malcolm Murray and they may even have insiders still giving them some information, but Dave King won't have a complete enough picture of the current state of play to give us a detailed plan for the company and Club until he's in there. He could give us a plan filled with moonbeams, but that wouldn't be a prudent course of action given that moonbeams are the last thing we want to hear. I do think Dave King will invest heavily if given the opportunity, but it really hasn't looked likely that he'll be given the opportunity for a good while now, so for me, he should seriously consider buying out one of the major shareholders who currently back the board. Ideally, we'd want to see him buying out a big chunk of the shareholding which has been proxied to Sandy Easdale in order to significantly reduce the Easdale fronted block's influence and power. I do not think there is any chance of DK buying out major shareholders and he has previously stated he will not do so. Unfortunately I think his opportunity has come and gone after the AGM at the tail end of last year when the requisitioners got a much higher vote than expected of around 30 per cent each. DK should have been buying shares after that like Prior and Laxey did then he'd have been in a pretty strong position by now if his shareholding was added to the 30 percent the reqs got. If DK doesn't become involved in the latest share issue then we all really need to move on. He has had opportunities but simply hasn't taken them for whatever reason(s) 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted June 12, 2014 Share Posted June 12, 2014 If DK doesn't become involved in the latest share issue He won't be involved...... 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,739 Posted June 12, 2014 Share Posted June 12, 2014 He won't be involved...... You're probably correct. He won't be. That being the case I really think he should walk away. If he isn't then prepared to buy out major shareholders then there's no way on this earth he is going to get control of Rangers. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted June 12, 2014 Share Posted June 12, 2014 He can't be involved. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,805 Posted June 12, 2014 Share Posted June 12, 2014 It's not that difficult to find the info in the business review: At the current time the Company is not in a position to carry out a significant equity fundraising as the required shareholder authority that was requested at the AGM to enable the Board to allot shares on a non pre-emptive basis was not granted. Although this authority is routine for AIM traded companies, it was understandable at the time that it was not granted given the position of the business and the lack of apparent strategic direction. It does however mean that the Company is currently prevented from issuing small amounts of equity to third parties and new shareholders. The authority given to the Board at the AGM in December 2013 to enable the Company to allot up to 43,400,000 new ordinary shares of 1p each in the capital of the Company on a pre-emptive basis to existing shareholders has not been exercised to date. In the event that season ticket sales over the forthcoming weeks are materially less than anticipated then the Company may seek to use this pre-emptive authority which can offer a cost effective and efficient method of raising capital. To implement the initial phase of the three year plan set out below, the Board intends to seek shareholder approval in Autumn 2014 for the issue of additional equity pursuant to Section 551 of the Companies Act 2006. King could invest, if he buys shares on the free market right now and buys into the 43m mentioned above. If he wants to wait for a new share issue, that will happen much later this year, if the broad gets approval to issue new shares in autumn. That is how I read it. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted June 12, 2014 Share Posted June 12, 2014 It will be for selected shareholders only. Plus are any shares available on the market? 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,805 Posted June 12, 2014 Share Posted June 12, 2014 Club shares are traded daily on the market, you could buy some essentially any day of the week. 0 Quote Link to post Share on other sites More sharing options...
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