Dave King to Sell Shares to Club 1872

[Bill 13,717]

1 hour ago, JohnMc said:

Morally obligated? No, I don't think so, King went into this with his eyes open. He knows better than most that his shares might be worth a lot less than he spent on them. Had he agreed to buy the shares on the proviso that Club 1872 or the greater support would then buy them from him, in a similar way to Budge at Hearts, then I'd feel their was an obligation on our part, but that didn't happen as far as I know. 

 

I think it would be better for the long term future of club if significant investors are able to get most of their investment back. I think selling to supporters is preferable to selling to people with no emotional attachment to the club. That might not be possible of course. I don't think it's good for the club if we're seen as a black hole you throw money down without any hope of ever getting it back. Perhaps if the club itself set up a share-buying scheme, where small investors, like Bill up thread, were able to invest into it and they slowly bought existing shares from current shareholders at an agreed rate or at market value, then people like King and Park etc would have an exit strategy and people like Bill, you and me would have the opportunity to own shares. That might mean that in ten years time 'we' and hundreds of others have bought control of the club and that King and the 3 Bears have seen a return on their original investment. Perhaps the money is held in escrow until someone is ready to sell. I'm sure there are a number of hurdles to this back-of-a-fag-packet idea. Currently apathy seems to be the main one and that's what needs changed. 

 

I think many fans who were able to build smaller shareholdings might be willing to lend their voting rights on an annual renewable basis, subject to reasonable safeguards, to a core fans' group they trusted, allowing the shareholder to retain control over his/her own shares and to hold the fans' group properly to account ..... the dog wagging the tail for a change.

[forlanssister 3,114]

43 minutes ago, Bluedell said:

 

 

I believe that it's not possible legally for the club to set up a share-buying scheme. I do seem to recall some restrictions coming to light when it was looked at before.

That's correct it's simply not legally possible for the club to do that.

[Soulsonic5791 408]

Are we surmising that this is the latest debt equity swap?

[Bill 13,717]

2 minutes ago, forlanssister said:

That's correct it's simply not legally possible for the club to do that.

They really don't have to. Just allow everyone to apply to purchase new shares in the time honoured way. And stop denying existing shareholders their pre-emption rights.

[Soulsonic5791 408]

Has your chicken reached its chlorine saturation point Bill?

[forlanssister 3,114]

4 minutes ago, Bill said:

They really don't have to. Just allow everyone to apply to purchase new shares in the time honoured way. And stop denying existing shareholders their pre-emption rights.

That's always been the plan and I'm pretty sure that will happen once we reach the part in our recovery where we no longer need multiple investment over the course of the year.

 

While Rangers can't promote the selling of their own shares, King certainly can, he can invite tenders from existing shareholders large and small to purchase his shares @20p he is not limited to Club 1872 he could if he wished sell you 10k of shares.

[gaspard 562]

5 minutes ago, Bill said:

They really don't have to. Just allow everyone to apply to purchase new shares in the time honoured way. And stop denying existing shareholders their pre-emption rights.

Indeed, and they would be in your own name allowing you to leave a "legacy" for future generations of Bill's 

[Bill 13,717]

10 minutes ago, Soulsonic5791 said:

Has your chicken reached its chlorine saturation point Bill?

I feel obliged to adopt the identities I'm given. ? Some insults are worth wearing with pride ? 

 

 

[forlanssister 3,114]

I understand this is fresh investment not a loan conversion. 

[Soulsonic5791 408]

11 minutes ago, forlanssister said:

I understand this is fresh investment not a loan conversion. 

Do we smell a player package mate?