the gunslinger 3,366 Posted June 3, 2015 Share Posted June 3, 2015 Why not just pay Mash off and get our assets back, start with a clean sheet, what happens if there is an impasse and Ashley/Mash call up their security. Repaying interest free loans when you need cash isn't very bright. 0 Quote Link to post Share on other sites More sharing options...
barca72 440 Posted June 3, 2015 Share Posted June 3, 2015 I see they SD/Mash have security that they cannot call, a novel idea. Much as though I understand it, Resolution 2 is pointless. The resolution itself does little to actually reverse the contract from being heavily weighted in favour of MASH. Resolution 2 really just says "we don't like your resolution 1 but we would like to point the finger at you so we will put in resolution 2 - which, by the way, carries no weight at all in terms of dealing with the issue". Resolution 1 is also pointless to be fair. Supposing the banks woud lend the club £5M at a rate of interest over let's say a five year term, and we got that loan to pay off SD. How much does the interest and costs come to? I don't know, but that is what not paying the loan back right now is costing SD. Plus, they are losing out on merchandise sales because the fans won't let them shaft the club. All things considered it's to the board's advantage to use that cost to SD as a negotiating tool to get all deals with SD re-aligned to everyone's equitable interests. I disagree on the need for Res. 2. I think the board requires this to emphathise that they have the shareholders' approval to play hardball with MASH/SD. None of this would have been necessary if SD would recognize that the new board will not be pushed around as easily as previous boards have been. 0 Quote Link to post Share on other sites More sharing options...
raygun 0 Posted June 3, 2015 Share Posted June 3, 2015 Repaying interest free loans when you need cash isn't very bright. I would think it is even less bright to put your assets at risk. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted June 3, 2015 Share Posted June 3, 2015 I would think it is even less bright to put your assets at risk. Risk of what 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted June 3, 2015 Share Posted June 3, 2015 I see they SD/Mash have security that they cannot call, a novel idea. You honestly believe that they could call it they wouldn't have by now, when Leach and Llambias were fired ? Aye, ok then. 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted June 3, 2015 Share Posted June 3, 2015 Seems clear enough. The Board is pleased to announce that the Company's subsidiary, The Rangers Football Club Limited ("RFCL") has entered into a credit facility agreement with MASH Holdings Limited ("MASH") pursuant to which MASH shall make available the sum of £2 million for drawdown by the Company (the "Facility"). MASH is a shareholder in the Company holding 8.92% of the voting rights in the Company. The Facility shall be secured by standard security granted by the Company over Edmiston House and Albion car park. The Facility shall be for a 6 month term and is interest free. The Facility will be used by the Company for general working capital purposes. Under the terms of the Facility MASH has the right to appoint up to 2 directors on the board of directors of RFCL. You are quoting the wrong loan...... If you believe you are quoting the correct loan then how do you reconcile the mention above of a 2 million loan and that which is mentioned in the EGM resolution of 5 million. The club repaid that 2 million loan by accepting a further 5 million loan which is the current loan. Seems clear enough indeed 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted June 4, 2015 Share Posted June 4, 2015 Yes the 5 million loan had no end date and therefore Rangers can pay it at will. Ashely is trying to play the card that the present board don't have the money they say they do and is trying to force the issue and hope some of the Rangers supporters\Investors jump ship and join his band of not so merry men.. 0 Quote Link to post Share on other sites More sharing options...
Davie P 4 Posted June 4, 2015 Share Posted June 4, 2015 Seems clear enough. The Board is pleased to announce that the Company's subsidiary, The Rangers Football Club Limited ("RFCL") has entered into a credit facility agreement with MASH Holdings Limited ("MASH") pursuant to which MASH shall make available the sum of £2 million for drawdown by the Company (the "Facility"). MASH is a shareholder in the Company holding 8.92% of the voting rights in the Company. The Facility shall be secured by standard security granted by the Company over Edmiston House and Albion car park. The Facility shall be for a 6 month term and is interest free. The Facility will be used by the Company for general working capital purposes. Under the terms of the Facility MASH has the right to appoint up to 2 directors on the board of directors of RFCL. I think that this loan was repaid from the Sports Direct £5 loan mate. We owe nothing to MASH, but we will need to repay SD in due course, once all negotiations over the onerous contracts have been concluded. 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted June 4, 2015 Share Posted June 4, 2015 (edited) Seems to me that we need to keep as strong a hand as possible - our main business leverage is the non-return of the money and low kit sales. So if the loan is interest free and has no-repayment date then I don't think we shouldn't repay it until the SD contracts are renegotiated or expired. Also fans should refrain from buying kit and retail stuff until either of those two events happen. We need to force Ashley into a business decision, where his track record actually seems to be to take the route that makes more money. Edited June 4, 2015 by calscot 0 Quote Link to post Share on other sites More sharing options...
compo 6,589 Posted June 4, 2015 Share Posted June 4, 2015 I would love to see the back of the fat man once and for all . 0 Quote Link to post Share on other sites More sharing options...
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