EGM to approve share issue

[forlanssister 3,114]

2 minutes ago, Bill said:

Yes it has. I had no idea the allocations had been set and confirmed, which is where the confusion arises. I doubt if many others did either.

 

Every single shareholder received notification, literally thousands upon thousands of them.

 

Your ignorance of the facts wasn't confusion.

[buster. 5,194]

1 minute ago, Bill said:

Yes it has. I had no idea the allocations had been set and confirmed, which is where the confusion arises. I doubt if many others did either.

 

Perhaps if they've been spending time in a tree house in Madagascar with no internet connections.

 

 

[Thinker 887]

10 minutes ago, Gonzo79 said:

"Extreme right-wing mathematics"?

 

?

Yeah. All non-natural numbers are to be rounded-up by the common denominator and the remainder discarded!

[Frankie 8,562]

Julian Wolhardt has also appointed as a director of RIFC.  Probably not that much of a surprise.

H/T: Generic Cads‏ @rossco_bear

[JFK-1 1,693]

55 minutes ago, Frankie said:

Julian Wolhardt has also appointed as a director of RIFC.  Probably not that much of a surprise.

H/T: Generic Cads‏ @rossco_bear

Danish investor becomes 'person with significant control'

 

Julian Wolhardt, whose investment firm is set to become one of the biggest shareholders at Rangers, has been declared as a person with "significant control"

 

The 45-year-old Danish investor who is based in Hong Kong has just been appointed as a club director joining chairman Dave King, John Bennett, Alastair Johnston, Graeme Park, Douglas Park and James Blair on the board.

 

The development has come a week after Rangers called a general meeting of shareholders to finally approve a new fund-raising share issue to 13 shareholders.

 

Mr Wolhardt, a chief executive officer of Hong Kong-based Dehong Capital Partners is said to be the man behind Borita Investments Limited, who would get 7.5m shares from the new issue bringing the company's total to 11,132,500 and 7.7% of RIFC, making it one of the biggest shareholders at the club.

 

According to Companies House, a person with significant control can have directly or indirectly more than 25% of the company’s issued shares or voting rights or has the right to exercise, or actually exercises, significant influence.

 

Last year the Sports Direct supremo Mike Ashley struck a deal to sell all all of his shares to Mr Wolhardt and fans’ group Club 1872.

 

Prior to establishing DCP in 2017, he spent ten years at KKR, a leading global private equity firm as a partner and regional leader.

 

 

Before KKR he was responsible for the China business at Morgan Stanley Private Equity Asia, worked in the Mergers and Acquisition Group of Lazard Frerers & Co. in the United States and started his career at Coopers and Lybrand.

 

He is a Certified Public Accountant and Certified Management Accountant and holds a B.S. with Honors and Bachelor’s Degree in Accounting from the Universityof Illinois (Urbana-Champaign) in 1995.

 

The Rangers chairman welcomed Wolhardt as an investor last year saying: “Julian’s decision to invest in Rangers is exciting for the club.

 

“His business background and acumen are exceptional and it is very pleasing that his scrutiny of the club and its strategy has convinced him of our financial prospects and the merits of our business plan.”

 

He said at the time: “I am delighted to become an RIFC shareholder.

 

“I have a long held love for Scotland and football and I am keen to see Rangers FC unlock its considerable commercial potential.

 

“With the successful restructuring of the retail operations, RIFC is now on a firm financial footing and I look forward to being a part of its exciting future.”

 

Six years ago he ran the London Marathon and raised over £2m for the Whizz-Kidz charity which assists disabled children & young adults who are in need of wheelchairs. It also offers the training they need to lead an independent lifestyle. The total number of shares to be bought in the fresh issue is 63,147,137, meaning the value of the offer is £12.6m.

 

The new issue would increase the number of ordinary shares in Rangers International Football Club plc from 81,478,201 to 144,625,341.

 

RIFC called a meeting at the end of August where final approval will be sought for the issue of shares.

 

The general meeting notice confirms the issue will be made to existing shareholders named as: Barry Scott, John Bennett, Andrew Ross, Club 1872, Borita Investments Limited, New Trace Limited, Andrew Hawkyard, Neil Hosie, Paul Redbourn, New Oasis Asset Limited, Douglas Park, George Letham and George Taylor.

 

Mr King's New Oasis Asset Limited is listed as taking the biggest stake, 9,199,089 shares and will remain the biggest shareholder at Rangers with 21,068,594 shares and 14.57% of RIFC, if the issue is approved.

 

Rangers fans shareholder group Club 1872, would remain the second biggest shareholder, with an extra 5,000,000 from the issue for a total of 13,732,254 shares, giving them 9.5% of RIFC.

 

Hong Kong-based George Taylor, a Glasgow-born managing director with Morgan Stanley, would strengthen his position at RIFC with an extra 5,870,768 shares, bringing his total to 13,445,768. With 9.3% of RIFC, he remains the shareholder with the third biggest stake.

 

Former Rangers director Barry Scott will receive the second biggest stake from the new issue with 7,645,000 shares. The Hong Kong-based business was named in January 2016 as one of three benefactors who had contributed to the £6.5 million loan paid to Rangers in a bid to pay off Mike Ashley and help pay for the day-to-day running costs.

 

http://www.eveningtimes.co.uk/news/16589468.danish-investor-julian-wolhardt-becomes-a-person-with-significant-control-at-rangers/

[pete 2,499]

Okay I am a novice at this but am I right to understand that all persons shares will be watered down and  King and th 3 bears will only be taking shares to keep their %. Other people will be invited to increase their %. If I am right in that, How much debt will we still have to King and the 3 bears.

[Gonzo79 15,294]

5 hours ago, magic hat said:

Are we stronger or the same? 

We're Sevco.  We didn't exist pre 2012, according to the yahoos who never stop talking about us.