chilledbear 16 Posted July 31, 2015 Share Posted July 31, 2015 (edited) RANGERS International Football Club PLC is delighted to announce the appointment of Peterhouse Corporate Finance as ISDX corporate adviser. This is another significant step towards fully revitalising the Rangers brand. The next one will be announcing the Company's new firm of auditors. Peterhouse Corporate Finance is the largest ISDX Growth Market corporate adviser and also ranked number one independent small cap broker for AIM companies. Rangers’ chairman Dave King commented: “We have always said that these steps would be taken at the appropriate time and supporters can be assured that their Club and Company are progressing along the correct lines and as planned”. http://www.rangers.co.uk/news/headlines/item/9737-corporate-advisor Edited July 31, 2015 by chilledbear 0 Quote Link to post Share on other sites More sharing options...
BlueMazza 0 Posted July 31, 2015 Share Posted July 31, 2015 Great news 0 Quote Link to post Share on other sites More sharing options...
der Berliner 4,009 Posted July 31, 2015 Share Posted July 31, 2015 Probably the main reason why King was/is in Britain. 0 Quote Link to post Share on other sites More sharing options...
colinstein 294 Posted July 31, 2015 Share Posted July 31, 2015 as they said "progressing along the correct lines and as planned" 0 Quote Link to post Share on other sites More sharing options...
colinstein 294 Posted July 31, 2015 Share Posted July 31, 2015 just a reminder of why we were booted off AIM Friday 31 July 2015 | The one stop source for free breaking news, expert analysis, and videos on AIM and LSE listed shares EPIC code: NBU Rangers FC: Paul Shackleton – You’d never represent a crook would you, er hang on? By Tom Winnifrith, The Sheriff of AIM | Saturday 7 February 2015 Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article. I shall turn to the matter of the forthcoming Rangers FC (RFC) EGM later but the high-handed statement signed off by its adviser Mr Paul Shackleton of WH Ireland yesterday should be viewed in light of a shock revelation I serve up today about his own actions (or inactions) regarding AIM listed China fraud Naibu (NBU). In the Rangers statement Shackleton throws mud at rebel shareholder Dave King, suggesting that his criminal record might make him unsuitable to be director of an AIM casino stock. There is no doubt that in his efforts to evade tax in South Africa, Mr King broke the law and was no angel. So Shackleton would not act for a fellow with a dodgy past (or present)? Really? I spent a lot of time in 2014 accusing AIM casino listed Naibu of being a fraud. The company claimed to be sitting on a net cash pile which was a multiple of its market capitalisation when it was finally suspended on January 9 2015. It claimed to be highly profitable and cash generative. Yet the shares are now suspended pending clarification of its financial position. Quite simply the numbers were pure fiction and this was a fraud. And Shackleton, then working at disgraced investment bank Daniel Stewart, where he also acted for Rangers, and some of whose staff (not Mr S, I stress) threatened to beat me up because of my revelations (prompting this response from me) should have known that all was not well. That is in part because I revealed HERE that Naibu CEO Houyan Lin was also a total crook. Mr Shackleton should have revealed this to AIM investors in the IPO Document but did not. He should have put out a statement after my revelation. He did not. It appears that Mr Shackleton has no qualms about hiding the criminal past of certain AIM directors if they pay the fees – Daniel Stewart earned c£750,000 over a couple of years for its work on the Naibu fraud, investors appear to have lost everything. However, as I can reveal today it gets worse for Mr Shackleton. Naibu attempted to persuade UK investors that it was a real company and that its cash was real by paying a generous dividend. Chinese shareholders always took that dividend in scrip (i.e. by accepting mire shares) while UK investors generally took cash. Since the Chinese investors were heavy sellers of shares (sometimes at less than they accepted new shares in scrip at a higher price than they were selling in the market) there was an easy way to fund the nominal UK cash payments. Mr Lin – who owned 52% of Naibu – always took scrip. In the summer of 2014 Naibu was due to pay its final dividend for 2013 and indeed did so in the August of that year. A bullish trading statement in July must have encouraged a few folk in the West to take scrip as the apparent yield on the shares was greater than 10%. Mr Lin naturally took scrip – a clear bullish signal for the market. But on 12 September 2014 the company announced that although it had net cash of £33 million and had made a half year profit of c£20 million it was unable to afford an interim dividend ( something that had come with a cash cost of just £600,000 the year prior). That was a rather clear sign that the cash did not exist and the share price duly started to collapse. But Mr Shackleton knew more. For as I can reveal today, in the summer pf 2014 – ahead of the interims and ahead of Mr Lin taking a scrip final dividend, Mr Lin approached Daniel Stewart asking it to place out almost half his shares in Naibu with Western investors. Daniel Stewart was unable to do this but at that point Mr Shackleton must have known that something was very wrong indeed. Why would a man happy to take a scrip dividend, running a company that was trading on an ex (claimed) cash PE of 0.25 ( the wider market is on an ex-cash PE of c15 – so this stock would have been the cheapest share in the world were it not a fraud) want to sell half his shares? At this point Mr Shackleton should have resigned as Nomad, reported Naibu to AIM regulation and had the shares suspended. Did he? And when Daniel Stewart lost its AIM Nomad license and the firm of ZAI Corporate Finance took over the Nomad role in December 2014 did Mr Shackleton pass on this gem of information to ZAI to assist it with die diligence? Methinks not. For Paul Shackleton to lambast Dave King is one matter but I put it to Mr Shackleton that the willingness of him and his colleagues at Daniel Stewart to bank fees from Naibu when it knew the true horrors of that company and his failure to act on those horrors in order to protect ordinary investors, makes him the last man in the City of London to be able to pass judgement. I suggest that Mr Shackleton should take a full case file on Naibu with all the horrors over to AIM Regulation first thing on Monday, ‘fess up to everything and ask for forgiveness. I do not see how AIM Regulation can allow this man to retain his position in WH Ireland in light of today’s revelations. More on Rangers and its sordid attempts to deny its owners – its shareholders – a chance to remove its current board, advised by Mr Shackleton, later. http://www.shareprophets.com/views/10476/rangers-fc-paul-shackleton-you-d-never-represent-a-crook-would-you-er-hang-on 0 Quote Link to post Share on other sites More sharing options...
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