INTERVIEW | Dave King | March 2017

[craig 5,199]

What happens if the formal offer falls flat?

Does the status quo prevail?

 

That I don't know and I don't have the time to look through the requirements.

[Uilleam 5,948]

That I don't know and I don't have the time to look through the requirements.

 

Delegate, man, delegate.

[craig 5,199]

Delegate, man, delegate.

 

- I would if I could. Bluedell, wanna come review these two Annual Reports that have landed on my desk with next to no time to review - so I can look at what happens in the event DK doesn't get his 50% uptake on the 20p a share ?

[Davie P 4]

What happens if -when- the formal offer falls flat?

Does the status quo prevail?

 

IMO he will have complied with his obligations. Even then, nothing to stop him selling whatever he purchases straight back to C1872 at the same price. However, other than Ally, who would sell the shares at 35% less than the current price? Really has just been done maliciously to force King into wasting money making the offer.

[union 0]

Several readings of the TOP opinion on the Hearings Committee's Ruling doesn't make things look any better,specifically the hypocrisy over using Ibrox/Auchenhowie as security for loans.

 

I now outline our high level proposal:

 

1. We will provide a minimum of GBP 16m as permanent capital to the club.

50% of the total will come from me and the other 50% on a combined

basis from Paul, George, and other high net worth individuals. The fan

groups will wish to make some contribution but I believe it will be

symbolic rather than significant.

2. We are happy to consider 50% debt at a market rate and 50% equity at

20p per share. The debt will be for a minimum of 5 years. The debt

should be secured against Ibrox and Murray Park with some flexibility for

future funding if required. We will ensure that the fan groups support the

security over Ibrox and do not task the board with a breach of prior

commitments.

3. I am happy to commit to all the debt and ensure that, if required, it is in

place prior to the AGM. For this to happen we would require irrevocable

undertakings that the share issue will proceed and that the board

appointments will be ratified.

4. The board would be restructured to incorporate 4 of the existing board

and we would make 4 nominations of which Paul and I would be 2. We

13

would have the chair and I will be the nomination for that position. Due

to other business interests George is not available for a board

appointment.

5. There would be an immediate call to fans to support the club in all ways

possible and we undertake to get vocal public support from key Rangers

legends.

6. We will call on all fans to oppose Ashley’s call for the removal of the

executive.

I confirm that Paul and George have approved the content of this email.”

[scotjo 19]

His response to it was excellent though.

 

1. I wont be leaving South Africa as that is where home is. If I left my wife would divorce me, not happening

2. I watch every single game. I have Rangers TV (shameless plug for RTV - should have said the quality was excellent ). So I don't need to actually be there all the time

 

It is interesting how the media are all over DK for not being at Ibrox often enough yet Desmond gets a free run across the city despite playing Lord Lucan.

 

Yes, good point, we hear more from King no matter where he is than Desmond.

[der Berliner 3,747]

Think I'll get a Eurojackpot ticket for Friday, snatch the Euro 60m and help us out of our supposed "misery" ...