Calgacus 8 Posted August 18, 2014 Share Posted August 18, 2014 A share issue is not a short term measure, it is a means of medium to long term financing. Also there is no way of knowing how many shares would not be taken up by existing shareholders and hence how many Mr Ashley would acquire in the underwriting. Who else do you have in mind as an underwriter? We're using it to keep the lights on until Christmas - you don't get much more short term than that. It's not investment, it's life support. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted August 18, 2014 Share Posted August 18, 2014 A share issue is not a short term measure, it is a means of medium to long term financing. Also there is no way of knowing how many shares would not be taken up by existing shareholders and hence how many Mr Ashley would acquire in the underwriting. Who else do you have in mind as an underwriter? How far into the medium/long term will this £4m of financing run? Please bear in mind that there has been no notification that the previous short-term financing initiative has been repaid. There should be no need for anyone to underwrite the share issue. Graham Wallace claimed to have £5m of equity funding available from current investors and Sandy Easdale stated that they had investors lined up - unless both were, shudder the thought, lying in order to pull the wool over the eyes of the support. 0 Quote Link to post Share on other sites More sharing options...
Ser Barristan Selmy 222 Posted August 18, 2014 Share Posted August 18, 2014 Now that you mention it stb, there is actually a severe shortage of RFC related statements. Maybe we need a new fan group whose sole purpose is to harangue the manager and release weekly statements about him? Can Cooper and I lead it ? 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,808 Posted August 18, 2014 Share Posted August 18, 2014 How far into the medium/long term will this £4m of financing run? Please bear in mind that there has been no notification that the previous short-term financing initiative has been repaid. There should be no need for anyone to underwrite the share issue. Graham Wallace claimed to have £5m of equity funding available from current investors and Sandy Easdale stated that they had investors lined up - unless both were, shudder the thought, lying in order to pull the wool over the eyes of the support. In many ways people like to ignore a few things while believing others. It actually beggars belief at times when you see what is levelled at the board and how anything they do is being put into negative. As I said before, at times people should just try to be objective here, rather than let their emotions and care for the club take over. And from that more "removed" point of view you will have noted that because of various campaigns as well as actions of the old board, ST have been considerably lower than required. The board even said that should they go down considerably, they will have to raise more cash to keep the club going this season. Now that they look for investors people start claiming that they plan "short term"? What logic is that based on? Not least if these are the same people who business-wise starve the club of cash? The club of our size and with the squad we have is bound to make losses short term (and that for me is a 1 to 3 years), as we do not have that great an income because where we are league and country-wise (it might have escaped attention that the SPFL itself worked without a sponsor for a season ... and I haven't bothered to look whether they have one now ... and signs up "dodgy" deals with SKY and the BBC or even Chinese broadcasters that even one EPL club would not look at). As we have seen before, interest in our club is not as great as people assume it to be, no matter the board or owner. Yet, it might have well dropped even further with the news of IPO cash being wasted galore by the old board and Green. THAT might be the reason why those investors Wallace or some others spoke of have since changed their minds. These people can read and think themselves, and if they decided to turn and go, there's hardly anything Wallace can do. Nor is it a given that he can find people willing to invest just because he wants to or people demand it. At the end of the day, the board will have to bridge the gap in ST sales for - by the looks of it - another season or so. It is if you will a stop-gap solution, but what else do people actually expect? Realistically? I would expect that the whole business-model might switch to a different mode once we are back in the top tier, but even there people should not expect any "wonders" ... for we are still in Scotland. Right now, the board will aim to keep the ship afloat for the season while looking for further investment and not knowing what will come their way till the next share issue or AGM ... owner and shareholder-wise. Do I like all the above? Hardly. But it is "clear" enough what the board does and why. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,663 Posted August 18, 2014 Share Posted August 18, 2014 Further involvement from Ashley certainly doesn't enthuse me. If we think we've been kept at arm's length before... 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,808 Posted August 18, 2014 Share Posted August 18, 2014 Further involvement from Ashley certainly doesn't enthuse me. If we think we've been kept at arm's length before... Me neither. The only plus we'd have if he takes over or gets more actively involved one way or another is that we'd have someone who will not want us to go to the wall ... and a financial muscle that may alarm some of those beyond the Clyde. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,663 Posted August 18, 2014 Share Posted August 18, 2014 Me neither. The only plus we'd have if he takes over or gets more actively involved one way or another is that we'd have someone who will not want us to go to the wall ... and a financial muscle that may alarm some of those beyond the Clyde. That's true but Ashley's work at Newcastle hasn't been convincing so some guidance on his thoughts for Rangers would be nice. Unfortunately, despite his obvious business acumen, the guy seems to hide from any sort of accountability which is a worry given recent events at Rangers. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted August 18, 2014 Share Posted August 18, 2014 In many ways people like to ignore a few things while believing others. It actually beggars belief at times when you see what is levelled at the board and how anything they do is being put into negative. As I said before, at times people should just try to be objective here, rather than let their emotions and care for the club take over. And from that more "removed" point of view you will have noted that because of various campaigns as well as actions of the old board, ST have been considerably lower than required. The board even said that should they go down considerably, they will have to raise more cash to keep the club going this season. Now that they look for investors people start claiming that they plan "short term"? What logic is that based on? Not least if these are the same people who business-wise starve the club of cash? The club of our size and with the squad we have is bound to make losses short term (and that for me is a 1 to 3 years), as we do not have that great an income because where we are league and country-wise (it might have escaped attention that the SPFL itself worked without a sponsor for a season ... and I haven't bothered to look whether they have one now ... and signs up "dodgy" deals with SKY and the BBC or even Chinese broadcasters that even one EPL club would not look at). As we have seen before, interest in our club is not as great as people assume it to be, no matter the board or owner. Yet, it might have well dropped even further with the news of IPO cash being wasted galore by the old board and Green. THAT might be the reason why those investors Wallace or some others spoke of have since changed their minds. These people can read and think themselves, and if they decided to turn and go, there's hardly anything Wallace can do. Nor is it a given that he can find people willing to invest just because he wants to or people demand it. At the end of the day, the board will have to bridge the gap in ST sales for - by the looks of it - another season or so. It is if you will a stop-gap solution, but what else do people actually expect? Realistically? I would expect that the whole business-model might switch to a different mode once we are back in the top tier, but even there people should not expect any "wonders" ... for we are still in Scotland. Right now, the board will aim to keep the ship afloat for the season while looking for further investment and not knowing what will come their way till the next share issue or AGM ... owner and shareholder-wise. Do I like all the above? Hardly. But it is "clear" enough what the board does and why. Ok, just to give them the benefit of the doubt, I shall put the Easdale quote to one side for now, however, Wallace made his claim AFTER the 120-day review was published and the Ibrox 1972 Trust Fund had already been put in place at this point. 0 Quote Link to post Share on other sites More sharing options...
Ser Barristan Selmy 222 Posted August 18, 2014 Share Posted August 18, 2014 That's true but Ashley's work at Newcastle hasn't been convincing so some guidance on his thoughts for Rangers would be nice. Unfortunately, despite his obvious business acumen, the guy seems to hide from any sort of accountability which is a worry given recent events at Rangers. Not only did he appoint Kinnear, who is pretty much the biggest buffoon in English footballing history, but he also gave his pal Alan Pardew a bizarre 8 year contract extension. He has had one good season in the premiership. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted August 18, 2014 Share Posted August 18, 2014 I demand to know how much Ashley is paying for the ridiculous number of advertising hoardings he has at Ibrox. 0 Quote Link to post Share on other sites More sharing options...
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