True_Ger_1872 2 Posted October 23, 2014 Share Posted October 23, 2014 Prior to commencing the implementation issues referred to above it is necessary to reach an in-principle agreement with the board that can then be put to shareholders. In this regard it is important to recogniser hat the so-called Easdale Block represents more than 25% of the shares in issue and could therefore block the implementation of our proposal even if recommended by the board. Likewise, a combination of other shareholders could veto our proposal. I attempted to meet with Mr Ashley on my visit but neither he, nor his colleague, Mr Bishop, acknowledged my request for a meeting. This is their right but is unfortunate given the present concerns from supporters that Mr Ashley is using his shareholder status to put pressure on the board to alienate the rights and trade mark of the club in favour of his personal interest. I will make a separate announcement and appeal to fans on this topic at the appropriate time. Our initial proposal to the board was to invest the full 16m by way of equity at 20p per share. The board requested that we consider a debt/equity mix that would reduce dilution for existing shareholders and allow the debt component to be advanced prior to the extended time frame required for the approval of additional equity. We are amenable to this and to working with the board on the mechanics necessary to ensure that this is achieved provided that the full investment is recognised by way of board representation. We wish to appoint an equal number of members to the board and have the key say regarding the appointment of the Chairperson. We will not invest funds and let the existing board determine how these funds are spent. That has not worked well in the past. It is both the highlighted sections above that interest me most. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted October 23, 2014 Share Posted October 23, 2014 It is petulant, and none of what he says is news to anyone who has followed this saga. Maybe you have better sources of info than most of us, but there seems to be a number of points in the statement which we didn't previously know about. He has been outmanoeuvred throughout the whole process and has failed to find solutions to surmount the obstacles which were staring him in the face. Yet another damp squib, I'm afraid. I think it's worth looking beyond the raw basics of what he's done or not done here. Very few of us know what to believe or what's really going on, but there does seem to be a clear message in this statement that it's not over by any means as far as Dave King is concerned. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted October 23, 2014 Share Posted October 23, 2014 The first step is board approval. We both know it will be blocked. So does king but in reality only fan revolt will lead to change and this is vital to show how necessary that is. Up to now we had fans telling us king hadn't offered a penny. Didn't have the cash etc. That's over with. Where we go from here will be up to the fans. Plus there's always the small possibility it will be accepted. It's clearly what we need and good for the club. Most shareholders will see that. Tbh I am not sure what greenco will gain from rejecting it. I doubt Ashley will be paying them off and it's hard to see any cash left in Rangers for them. I'm sorry, but that is pish. He even states in his statement that they are incapable of making decisions without first consulting the shareholders who they answer to. A poorly thought out strategy from where I am standing. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted October 23, 2014 Share Posted October 23, 2014 Maybe you have better sources of info than most of us, but there seems to be a number of points in the statement which we didn't previously know about. I think it's worth looking beyond the raw basics of what he's done or not done here. Very few of us know what to believe or what's really going on, but there does seem to be a clear message in this statement that it's not over by any means as far as Dave King is concerned. I don't have any sources of info, and have never claimed otherwise. I'm open to be educated on what is new, both in anything that he said, and what his clever strategy is. 0 Quote Link to post Share on other sites More sharing options...
Juancornetto 1 Posted October 23, 2014 Share Posted October 23, 2014 I really thought that we'd gotten past the "Dave King better put his money where his mouth is" stuff. It's obvious to me that he's facing a mammoth task to dislodge the parasitic shareholders and their puppet board let alone progress against a backdrop of PR, spin and planted stories from useful journalistic idiots. It's a marathon, not a sprint. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 23, 2014 Share Posted October 23, 2014 I'm sorry, but that is pish. He even states in his statement that they are incapable of making decisions without first consulting the shareholders who they answer to. A poorly thought out strategy from where I am standing. I am fairly sure he says the first step is board approval but I haven't double checked. 0 Quote Link to post Share on other sites More sharing options...
Hildy 0 Posted October 23, 2014 Share Posted October 23, 2014 The statement does several things: It keeps hopes up within the fanbase that a deal could still be struck. It shows Ashley in a very poor light. An unwillingness to even engage is very bad form. If he becomes the main player at Rangers, thousands will chuck it. It reminds us that the board are puppets. The regime needs to be changed - not just the board. It gives people an insight into the workings of those who are paid to 'spin'. In its own quiet way, it is a rallying call to the support. It's quite a good statement, all things considered. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted October 23, 2014 Share Posted October 23, 2014 I am fairly sure he says the first step is board approval but I haven't checked. I'm not talking about the machinations and niceties of the corporate world. Without the required amount of shareholders getting behind his plan, what the board did was irrelevant. 0 Quote Link to post Share on other sites More sharing options...
SteveC 150 Posted October 23, 2014 Share Posted October 23, 2014 I really thought that we'd gotten past the "Dave King better put his money where his mouth is" stuff. It's obvious to me that he's facing a mammoth task to dislodge the parasitic shareholders and their puppet board let alone progress against a backdrop of PR, spin and planted stories from useful journalistic idiots. It's a marathon, not a sprint. I haven't read anyone say anything like that? I think he's acting in good faith and I have never said a word about him not putting money in except inasmuchas it is tragic he is not being allowed to do so. What I have said is that he's being ignored/rebuffed/lied to/shut out by scum of the earth. Scum of the earth who have all the aces, face cards and control of the betting chips. They don't want him in, it's clear and they won't let him in. That has always been and remains the situation. It may well be a marathon not a sprint, but marathons are not endless and this one started long ago, not today. They come to a finish and that finishing line is not far away. If Ashley has the crest as well as everything else and the GreenCo remnants and original shadowy investors are still siphoning off whatever they can = there'll soon be nothing left. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 23, 2014 Share Posted October 23, 2014 I'm not talking about the machinations and niceties of the corporate world. Without the required amount of shareholders getting behind his plan, what the board did was irrelevant. Sometimes you have to win the battles you can. Especially in guerilla warfare. 0 Quote Link to post Share on other sites More sharing options...
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