Frankie 8,562 Posted January 2, 2015 Share Posted January 2, 2015 DK statement imminent... 0 Quote Link to post Share on other sites More sharing options...
Steve1872 4 Posted January 2, 2015 Share Posted January 2, 2015 King said: "I would like to specifically record my disappointment that, if I hadn't been blocked by the present board in favour of a lesser and commercially disadvantageous offer by Mr Ashley, the money could have gone into the club and not into the pockets of exiting shareholders." The former Rangers director had no further comment to make on the transaction, which was announced by the RIFC board in a release to the Stock Exchange http://www.bbc.co.uk/sport/0/football/30661103 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,720 Posted January 2, 2015 Share Posted January 2, 2015 Rangers: Dave King company buys 15% of Glasgow club By Richard Wilson BBC Scotland Dave King has bought a near 15% stake in Rangers International Football Club by purchasing the shares held by Artemis and Miton. The South African-based businessman made the purchase after his funding offer was rejected by the board. King had previously wanted his funds to go directly to the club. But the former Rangers director had to alter his strategy following the board's decision to take a loan from Newcastle United's Mike Ashley instead. The shares were purchased by New Oasis Investments Ltd, a company wholly owned by King's family trust. Its transaction was completed two days after a group of three businessmen - George Letham, Douglas Park and George Taylor - purchased the 16% of shares held by Laxey Partners, which was the single largest shareholder. The two deals were carried out independently. King said: "I would like to specifically record my disappointment that, if I hadn't been blocked by the present board in favour of a lesser and commercially disadvantageous offer by Mr Ashley, the money could have gone into the club and not into the pockets of exiting shareholders." The former Rangers director had no further comment to make on the transaction, which was announced by the RIFC board in a release to the Stock Exchange. "The company was informed on 2 January 2015 that New Oasis Investments Limited ("New Oasis"), a company 100% owned by the Family Trust of Dave King, acquired 11,869,505 ordinary shares in the company on 2 January 2015," the statement said. "Following the transaction, New Oasis will be interested in 11,869,505 ordinary shares in the company, representing approximately 14.57% of the issued share capital." The two groups now, separately, own around 35% of the RIFC shares between them. Rangers Football Club chairman Sandy Easdale holds a little over 5% and has proxies for a further 21%, while Newcastle and Sports Direct owner Ashley has 8.92%. When RIFC needed funding in October, the board accepted a £3m loan from Ashley - providing him with two board placements and which is to be paid back by April - despite a £16m offer of funding from a consortium including Kjng and a £3m loan offer from Sale Sharks owner Brian Kennedy. Ashley's long-time associate, Derek Llambias, has since become Rangers' chief executive, while Sports Direct executive Barry Leach has been widely tipped for a role as finance director. Letham, Park and Taylor, who recently offered to invest £6.5m into the club, bought 13 million shares at 20p each from Laxey, which revealed it made the £2.7m deal in a bid to stop Ashley taking control. The Englishman loaned the club £3m in recent months but had his plan to increase his stake to just under 30% rejected by the Scottish Football Association because of his dual interest in the two football clubs. Rangers recently revealed they need £8m of new funding to stay afloat in 2015. They have sold prize asset Lewis Macleod this week, with cash from the sale of the midfielder being used as immediate funding. Meanwhile, manager Ally McCoist was put on gardening leave with the club unable to afford a pay-off after he tendered his resignation. http://www.bbc.co.uk/sport/0/football/30661103 0 Quote Link to post Share on other sites More sharing options...
Siam69 0 Posted January 2, 2015 Share Posted January 2, 2015 King said: "I would like to specifically record my disappointment that, if I hadn't been blocked by the present board in favour of a lesser and commercially disadvantageous offer by Mr Ashley, the money could have gone into the club and not into the pockets of exiting shareholders."The former Rangers director had no further comment to make on the transaction, which was announced by the RIFC board in a release to the Stock Exchange http://www.bbc.co.uk/sport/0/football/30661103 Fucking Rats!!!! 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted January 2, 2015 Share Posted January 2, 2015 A full house at Ibrox on Saturday would be nice too. Why its the empty houses that are forcing change. 0 Quote Link to post Share on other sites More sharing options...
pmu 0 Posted January 2, 2015 Share Posted January 2, 2015 King said: "I would like to specifically record my disappointment that, if I hadn't been blocked by the present board in favour of a lesser and commercially disadvantageous offer by Mr Ashley, the money could have gone into the club and not into the pockets of exiting shareholders."The former Rangers director had no further comment to make on the transaction, which was announced by the RIFC board in a release to the Stock Exchange http://www.bbc.co.uk/sport/0/football/30661103 in the long run surely it's better that the shares are in the hands of the rangers men than still in the hands of the investment groups that are ultimately outwith control!! 0 Quote Link to post Share on other sites More sharing options...
pmu 0 Posted January 2, 2015 Share Posted January 2, 2015 Why its the empty houses that are forcing change. Agree GS. wait until control has been handed over and then make a return... 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted January 2, 2015 Share Posted January 2, 2015 in the long run surely it's better that the shares are in the hands of the rangers men than still in the hands of the investment groups that are ultimately outwith control!! Whooooossshh!!!! 0 Quote Link to post Share on other sites More sharing options...
pmu 0 Posted January 2, 2015 Share Posted January 2, 2015 Whooooossshh!!!! eh?? wtf........ 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted January 2, 2015 Share Posted January 2, 2015 Why its the empty houses that are forcing change. Surely you'll be there to welcome the new investors including your pal and confidant, Mr King. 0 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.