Dave King to Sell Shares to Club 1872

[forlanssister 3,114]

32 minutes ago, the gunslinger said:

buying shares is their raison d'etre surely. 

It's a Community Interest Company not an Investment Trust.

[the gunslinger 3,366]

8 minutes ago, forlanssister said:

It's a Community Interest Company not an Investment Trust.

Amusing certainly but isn't it?

[craig 5,199]

2 hours ago, forlanssister said:

Agree with your sentiment but I imagine given Club 1872 are a CIC I'm pretty sure they would get a waiver of Rule 9 pretty easily.

 

Decent enough podcast but probably raises more questions than it answers, appears contradictory in parts.

 

Part I find incredible is the notion that entering a private deal costing over £13m that they don't and may never have which could increase their holding by over 400% is not worthy of being put to the members of a purportedly membership led organisation as it's "not a key decision", wow.

Surely they didn't say that ?

[forlanssister 3,114]

17 minutes ago, craig said:

Surely they didn't say that ?

Listen from approx 1 hr 11.30 mins.

[Bill 13,717]

1 hour ago, the gunslinger said:

Amusing certainly but isn't it?

No, it's a Community Interest Company

[gaspard 562]

10 minutes ago, forlanssister said:

Listen from approx 1 hr 11.30 mins.

Haven't listened yet, what did Chris have to say about all this?

[the gunslinger 3,366]

10 minutes ago, Bill said:

No, it's a Community Interest Company

you should read their constitution. 

[Bill 13,717]

Just now, the gunslinger said:

you should read their constitution. 

Why don't you stop being such a tease and just tell me what it says ?

[the gunslinger 3,366]

OBJECTS, POWERS AND LIMITATION OF LIABILITY 5. Objects The objects of the Company are to carry on activities which benefit the community and in particular (without limitation) to acquire a shareholding in the controlling entity of the Rangers Football Club (the “Club”) and to utilise this shareholding to repair, improve and enhance the engagement between the owners and the followers and supporters of the Club and otherwise to support and enhance the aspirations of Rangers supporters and followers for the well-being of their Club and its footballing success. The Club 1872 Companies are independent of the Club and the corporate entities which own the Club but shall work co-operatively with them to promote the well-being and success of the Club and to enhance the image and influence of Rangers followers and supporters. 6. Powers The Company may do all such lawful things as may further the Company’s objects and, in particular, but, without limitation, may borrow or raise and secure the payment of money for any purpose including for the purposes of investment or of raising funds provided that the Company shall not grant security or create any other form of encumbrance over its assets unless it has first secured approval to that step by a Special Resolution of its Donating Members

[the gunslinger 3,366]

Just now, Bill said:

Why don't you stop being such a tease and just tell me what it says ?

You didn't already know when you commented?