forlanssister 3,114 Posted August 29, 2014 Share Posted August 29, 2014 The short time frame could suggest they have someone in place to pick up the 15m shares. Even if they have this exercise may well have to be repeated prior to or perhaps on the back of the AGM if a pre-emptive rights disapplication motion fails to pass like last season. It may be that 15m new shares take a certain group of shareholders over the 75% threshold needed to disapply the pre-emptive rights and also be enough to enable the sale and/or sale and leaseback of Ibrox itself. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted August 29, 2014 Share Posted August 29, 2014 Can you imagine them going on Dragon's Den for the money? We're looking for £3m for an 18.75% share of the company. What's your projections for year 1? We'll need further funding to pay creditors by the end of the calendar year and then again in the first quarter of next year with a year end loss of at least £10m. How much profit did you make last year and what was your turnover? We made a £14.4m loss with £19.1m turnover. How much have you increased the sales of your main product in the last year? Season tickets are down by 33%. This is ludicrous and ridiculous, you clearly have no idea how to run a business and I'd be better flushing my money down the toilet. I'm out! That's very good. 0 Quote Link to post Share on other sites More sharing options...
sannybear 0 Posted August 29, 2014 Share Posted August 29, 2014 It may be that 15m new shares take a certain group of shareholders over the 75% threshold needed to disapply the pre-emptive rights and also be enough to enable the sale and/or sale and leaseback of Ibrox itself. That's where this is heading I have no doubt . 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,562 Posted August 29, 2014 Author Share Posted August 29, 2014 The short time frame could suggest they have someone in place to pick up the 15m shares. Even if they have this exercise may well have to be repeated prior to or perhaps on the back of the AGM if a pre-emptive rights disapplication motion fails to pass like last season. It may be that 15m new shares take a certain group of shareholders over the 75% threshold needed to disapply the pre-emptive rights and also be enough to enable the sale and/or sale and leaseback of Ibrox itself. Yes, it's certainly another way of looking at it. Just depends on how stubborn these people want to be in the presence (or otherwise) of interest of buying the club. We better start writing to Santa now... 0 Quote Link to post Share on other sites More sharing options...
buster. 5,186 Posted August 29, 2014 Share Posted August 29, 2014 The short time frame could suggest they have someone in place to pick up the 15m shares. Even if they have this exercise may well have to be repeated prior to or perhaps on the back of the AGM if a pre-emptive rights disapplication motion fails to pass like last season. It may be that 15m new shares take a certain group of shareholders over the 75% threshold needed to disapply the pre-emptive rights and also be enough to enable the sale and/or sale and leaseback of Ibrox itself. They wouldn't need shareholder approval to simply transfer Ibrox from TRFC to RIFC (in exchange for debt). (But would if RIFC then looked to sell TRFC) 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,744 Posted August 29, 2014 Share Posted August 29, 2014 There has been an investment committee in place now for over nine months. Who else are we supposed to blame for the lack of such? I was not exactly asking to look for people to blame. We all know who these folk are. It would be refreshing to any such debate if there was something more than blaming though, and one hardly gets that. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,562 Posted August 29, 2014 Author Share Posted August 29, 2014 I was not exactly asking to look for people to blame. We all know who these folk are. It would be refreshing to any such debate if there was something more than blaming though, and it hardy is. How can we offer more when we are constantly excluded from the debate and/or misled on a regular basis? The club deliberately keeps the fans at arms length. There is no debate. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted August 29, 2014 Share Posted August 29, 2014 They wouldn't need shareholder approval to simply transfer Ibrox from TRFC to RIFC (in exchange for debt). (But would if RIFC then looked to sell TRFC) That wouldn't be of much benefit to either party in itself, because of the valuation of Ibrox is such a large proportion of the assets they need 75% approval to dispose of it iirc. 0 Quote Link to post Share on other sites More sharing options...
buster. 5,186 Posted August 29, 2014 Share Posted August 29, 2014 That wouldn't be of much benefit to either party in itself, because of the valuation of Ibrox is such a large proportion of the assets they need 75% approval to dispose of it iirc. I'm no expert in this material but did come accross this within the Companies Act of 2006 Substantial property transactions 192 Exception for transactions with members or other group companies Approval is not required under section 190 (requirement of members' approval for substantial property transactions)— a)for a transaction between a company and a person in his character as a member of that company, or (b)for a transaction between— (i)a holding company and its wholly-owned subsidiary, or (ii)two wholly-owned subsidiaries of the same holding company. http://www.legislation.gov.uk/ukpga/2006/46/part/10/chapter/4/crossheading/substantial-property-transactions I was told that shareholder approval would be required in this hypothetical case if RIFC looked to subsequently dispose of/sell TRFC. However could RIFC exhange TRFC debt for Ibrox and thereafter charge a rent for the use of ? 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,744 Posted August 29, 2014 Share Posted August 29, 2014 How can we offer more when we are constantly excluded from the debate and/or misled on a regular basis? The club deliberately keeps the fans at arms length. There is no debate. You shall not debate with the club, but one sure can debate things on here and from various angles. We debate team selections all along without having any influence on what McCoist finally does either. 0 Quote Link to post Share on other sites More sharing options...
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