ian1964 10,761 Posted August 31, 2015 Share Posted August 31, 2015 A NINE million pound boost to Rangers coffers from season ticket sales has provided fresh impetus to the club's plc's efforts to pursue a vital fund-raising share issue. Rangers International Football Club plc is yet to formally apply for a listing on an alternative share trading market five months after it was delisted from the AIM stock exchange and nearly a month after it appointed a corporate adviser to kickstart the process. The plan involves listing on the ICAP Securities & Derivatives Exchange Growth Market, which is aimed at smaller and medium sized companies, and is seen as a precursor to the club's crucial fund-raising plan. Sources within Peterhouse Corporate Finance, the corporate adviser appointed at the end of July, confirmed that RIFC has to show it had at least 12 months' working capital to become listed. It is understood that that is still to be worked out, but season ticket sales are expected to give the club plc’s case a £9 million boost. A source at Peterhouse Corporate Finance said they could still not put a timescale on when the application would be made. "It is a full application to ISDX and we have to do our due diligence on the company. Promoted stories Recommended by "There has been history as we all know, so we are making sure everything we do is correct. Timescales are something we are not sure about yet." In confirming the requirement for proof of 12 months' working capital he added: "Obviously that is part of the plan of action going forward before the application goes in" and admitted season ticket sales "fills a hole". Asked if he thought working capital was going to be a problem, he said: "No I don't. I think there is appetite out there. It will all happen with due process." He added: "We will see how it goes." Rangers said at the end of last month that they had sold more than 30,000 season tickets ahead of the new Championship campaign. Ibrox chairman Dave King set an ambitious target of selling around 45,000 season books for Mark Warburton's first term in the dugout. Club insiders said in April that they hoped to list on the ISDX market saying it would cost the club less in fees and make it easier to win investment. ISDX was a successor to the Plus platform, where shares in The Rangers Football Club plc, now in liquidation, were traded in the past and where shares of Arsenal Holdings plc, the holding company of the Arsenal Group of companies is listed. While a listing was pursued, Rangers put in place arrangements to allow shareholders access to a matched bargain trading facility for their shares with JP Jenkins, one of Europe's biggest platforms the exchange of unlisted securities. Millwall Holdings plc and Sheffield United plc shares are traded through their facility. Rangers were approached for comment. http://www.heraldscotland.com/news/13636156.Season_ticket_sales_boost_for_delayed_Rangers_bid_to_find_alternative_stock_market/ 0 Quote Link to post Share on other sites More sharing options...
BlueMazza 0 Posted August 31, 2015 Share Posted August 31, 2015 admitted season ticket sales "fills a hole" Is this something concerning or is it all part of the master plan that we aren't totally aware of? Personally I never expected King to just whack money in to the club anyway but this wording isn't great. 0 Quote Link to post Share on other sites More sharing options...
BeardyGuts 6 Posted August 31, 2015 Share Posted August 31, 2015 Is this something concerning or is it all part of the master plan that we aren't totally aware of? Personally I never expected King to just whack money in to the club anyway but this wording isn't great. "A source at Peterhouse Corporate Finance" So I would take all this with a pinch of salt.... 0 Quote Link to post Share on other sites More sharing options...
trublusince1982 243 Posted August 31, 2015 Share Posted August 31, 2015 (edited) Think the deficit was around £6m last year . With savings and increased income and a little bit of luck in cups can see it being down around £2m -£3m. Fag packet maths but don't think we will see major fund raising until the start of next season. Edited August 31, 2015 by trublusince1982 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,813 Posted August 31, 2015 Share Posted August 31, 2015 Warburton is magic ... not just for the club and us, but also the board. While I doubt that we'll get 50k for each home game now, every visitor to Ibrox helps the current board to get the company back on track. Let's hope they get the stock market stuff rolling soonish too, so that share issue can be done. That said, you do wonder how the percentages are split these days and whether another share issue might be blocked ... again? 0 Quote Link to post Share on other sites More sharing options...
BlueMazza 0 Posted August 31, 2015 Share Posted August 31, 2015 Well I just bought tickets for Livi game as it's the next one I can get too. Another £40 in the coffers 0 Quote Link to post Share on other sites More sharing options...
Bruno55 0 Posted September 9, 2015 Share Posted September 9, 2015 Keep snapping up the tickets bears cos the right people are getting the money now 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted September 10, 2015 Share Posted September 10, 2015 It's going to be difficult to get one next year if you don't have one this year I suspect. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted September 10, 2015 Share Posted September 10, 2015 It's going to be difficult to get one next year if you don't have one this year I suspect. I'm not sure if season tickets will sell out next year, but so long as we get promoted this season the ST sales next summer are bound to be massive! 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted September 10, 2015 Share Posted September 10, 2015 I'm not sure if season tickets will sell out next year, but so long as we get promoted this season the ST sales next summer are bound to be massive! I'm with GS.... 1. The football we are playing 2. The number of goals we are scoring 3. Being back in the top league 4. Being there to tell everyone else "we are back" All of those will, IMHO, result in a sell-out of next season's ST's. 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.