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Stu, you simply seem incapable of understanding that "facts" and "truth" are different. It is a fact that WH Ireland resigned while the old Board were in place. It is also untrue to say it happened because the old Board were in place. Do you have trouble with facts, the truth, or both? WH Ireland stated clearly their intend to resign if King & Co won the vote. The did so when the result was known. Stu, my original assertion is that WH Ireland resigned because of King & Co were declared winners. That's the official line. WH Ireland said it, they did it, and King & Co and never denied it. As I said, go and ask a grownup. The only bone of contention is "glib and shameless" King said there was agreement to do a handover. WH Ireland have neither confirmed nor denied this. But that is a whole different issue.
1. Boycott - force board into emergency shares and a deal with MA. 2. MA funding presents a problem. Incite riots prior to games and reward orchestrator with board place. 3. Promise £30M in funding and dismiss 41 convictions for tax evasion as a favourable outcome. 4. Work in concert with Taylor, Park & Letham to take control. 5. Take £1.5M loan from TPL. 6. Delist to acquire shares at 2-3 pence. 7. Acquire majority holding. 8. Sell a seven year plan that assumes that every fan will INVEST in a new board of Real Rangers Men. It really is that simple if Non-Sensicle, CB and Blue 7860 are truly representative of our fan base, then they deserve the new seven year journey that they will finance.
Stu IMHO WH Ireland could and should have managed a transition to a new company. WTF are you suggesting liquidation! Or are you just stupid?
"Why did the old board lose the support of the shareholders ? A majority was there to won. Their record and offering was rejected - a stunning failure." Was it a failure? I have long held the view this was a staged "journey" for Rangers: 1) Buy the assets and set up a football club called Rangers 2) Raise cash 3) Burn / pocket the cash 4) End Game. I could never say with any certainty what the end game would be. There were two certainties, those age old certainties - Death and Taxes. Death - speaks for itself - crash it against a wall and let someone else deal with the wreckage. Taxes - those original investors have never gone away. If they are to leave in an orderly fashion then they will want paid. Someone will need deep pockets. Is that person Dave King or any of the others around at the moment? Probably not. You asked a very good question, why indeed did the old Board lose the vote. I don't believe your conclusion is correct.
@stuzeeuk - " Yes it is my opinion that WH Ireland should have managed a transition to a new NOMAD." But nomads loose licenses all the time, when that happens the nomad transfer is within hours - there does not need to be transition - nice if it happens. King did not have nomad in place to make transition happen ---- even now 30 days later . how much money will you stuzeeuk invest into a King backed recovery.... tell us that - given Kings reputation... I expect 0 is your answer.
Eddie, nice attempt to white wash your error. Yes it is my opinion that WH Ireland should have managed a transition to a new NOMAD. I am quite content with that opinion and content if your disagree. However I am factually correct in a the statement I made. You clearly were not, therefore your original assertion seems to have hit the buffers. SoF, on the upside - Mr King said he would remove the previous board of directors, he did. If that’s all he ever does, then I'm content the previous regime was removed.
Stu says, "SoF's like most of the anti-brigade, is blinkered by his biased views, which removes any hope of a reasonable analysis. Hence he will contradict himself to support his biased view. It makes most of his posts look like he is half witted." If Carlsberg did irony ....
"IMHO WH Ireland could and should have managed a transition to a new company. They did not." You are right, though could have managed a transition. The did not, and it was their choice to do so. Whether they "should" is a matter of opinion. You seem to have forgotten about governance. Resignation with immediate effect is a sanction available to a NOMAD if required. WH Ireland clearly felt it was required. "The facts, show WH Ireland resigned days prior to the EGM. Now even you admit that. So you were wrong with your ‘facts’." They resigned after the result was known. The result was known prior to the EGM. Why are you not able to grasp that? Can you get an adult to explain it to you?
@CB - No a stunning victory for mob rule, rewarded by a place on the board to that vile racist, Chris Graham, who reduced the AGM to a UOF pantomime as he chanted SCUM for its duration. The major shareholders abstained leaving the vocal minority to win the day, and now they realise that the requisitioner maniesto was LIES. 1. Lie one - There was no NOMAD lined up. 2. Lie two - The SFA does not have a Fit & Proper test 3. Lie three - King refuted the claims of the board as to his ability to assume control of a UK plc. 4. Lie four - He promised £30M. Where is it. This new board lied to acquire power. You know it, I know it and soon the entire fan base and every shareholder will know it.
@CB SoF's like most of the anti-brigade, is blinkered by his biased views, which removes any hope of a reasonable analysis. Hence he will contradict himself to support his biased view. It makes most of his posts look like he is half witted.
Why did the old board lose the support of the shareholders ? A majority was there to won. Their record and offering was rejected - a stunning failure.
The NOMAD fiasco was clearly orchestrated by the old board. The old board should have conducted on medicals for the 5 loanees. Signing one fit player out of 5 is a poor record by anyone’s standing. The company are now left to pay for the 4 walking wounded. Streete done nothing apart from hobble off, trying to suggest anything other is simply stupid SoF. Vuckic has done well and appears to have been able to rise above the abject calamity of the other 4. Lee Wallace has been reinvigorated since McCall’s appointment, and is by far the best player at the club. He was very accomplished again on Saturday. Young Walsh looks like a bright talent also. The 500,000 is a joke, IMHO, and part of the scorched earth policy by old regime.
Camebridgeblue - "The old board are entirely to blame - they singularly failed to secure the approval of the majority of shareholders in the EGM - this was due to their actions - not happenstance." You are over 24 hours too late for April Fool. The fact that King would be in contol even if it is by pulling Murray's strings is why the Nomad walked.
SoF in Feb "3 months isn't long enough to judge L+L " after we lost 3 straight and lost our best player and had a terrible manager and 11k attendances. Sof in April "3 weeks is long enough to show epic failure" after we win 2 straight, the board grasp the management nettle and match day revenue is on the rise..
@Wottpi - Murray is doing his best to lay the blame for the finacial fiasco ( that he orchestrated) on the previous board. Two members of which have been illegally suspended from their positions as CEO and FD. The unseen hand of Traynor was behind the Daily King story on the 5 loanees. The facts are that one of the five is not injured, but not good enough to command a place in the squad. Streete showed an ability at £1,000 per week far superior to our £19,000 per week hammer thrower, and will return before season end. Vuckic might be the best £500,000 ever spent if he continues to score for fun and ends the season as our top scorer. So only two of the five are injured, but when did James Traynor ever let the facts intrude on a good story that reflects badly on the former board. There was never any attempt to even find a NOMAD. As soon as Murray took a pause from appointing himself as a director of TRFCL/Garrion/Rangers Media on day one, he realised that Deloitte had no confidence in the new board and that they would not sign off on the interim accounts. Just like WH Ireland, they walked away as they realised that this hostile takeover is destined to fail. Now all we have is a 7 year plan and a proposed rights issue in a private company that will soon be owned by King. Just like SDM tried many years ago, which ended in MIH picking up the tab due to a singular lack of subscribers. SDM's attempt was at a time that was much more favourable than that which will prevail in the close season. You would have to be a truly glib and shameless liar to appeal to the Rangers shareholders to step forward again having had their holding decimated by King and his nodding dogs on the board.
PMcG has posted a response from Deloitte to questions regarding their 'resignation'. Apparently they confirmed to the board in November they would not be seeking to be the groups Auditors for year end 30th June 2015. Audits of all the group's companies were completed in January 2015 and Deloitte understand the board are seeking new auditors and are happy to assist with a smooth transition. Far more open and transparent than the PR puff piece provided by Interim Chairman Murray. Still slightly naughty having Deloitte named in resolution 6 at AGM but surely a mere technicality being they were and are still the existing auditor the company needs to remain in compliance with the Companies Act 2006.
The old board are entirely to blame - they singularly failed to secure the approval of the majority of shareholders in the EGM - this was due to their actions - not happenstance.
Oops it looks like Paul Murray is as economical with the truth as his puppetmaster. Deloittes have now stated they would informed the board they would not conduct the Audit for year ending June 2015. No mention of not auditing the interims. Its beginning to look like they wouldn't sign off the interims.
My understanding is that he would cease to use the services of WH Ireland I assume this was more directed at Mr Shackleton specifically) and appoint a new NOMAD. He could not have had an orderly handover on the day of the AGM as the NOMAD had already resigned. I am not sure what part of that you don’t understand. It appears you blame Mr King (who isn’t even on the board), while I blame the old board for losing the NOMAD, and will blame the new board if they cannot source a new one.
@struzeeuk - google and we find slew of companies switching NOMAD within hours not weeks! http://www.lse.co.uk/AllNews.asp?code=8w9zpysh It can be done - and should have been done - fact King did not do it - or have it ready is clue that unbinds your lies - as ever you exposed as pr troll - even at the death. You cannot have an organised handover if king has no nomad.
Stuzee you are still perpetuating a lie while ignoring another. Yes WH Ireland resigned before the EGM. Maybe they were informed the Easdale proxy was abstaining and therefore King was guaranteed to win. What is not in doubt is that they said they would resign if King's concert party assumed control. What is also not in doubt is King claimed he would replace them on the day of the EGM. Has that been proved to be truthful? Had it been truthful then there may just have been an orderly handover but guess what, that would require a Nomad to handover to. The failure for any chance of an orderly handover lies entirely with King and Co not having a Nomad lined up and their inability to find one in 27 days and counting.
@ Eddie. I didn’t know the result and we had SoF on here claiming the old regime would sweep up all the votes from institutional votes and remain in situ. The facts, show WH Ireland resigned days prior to the EGM. Now even you admit that. So you were wrong with your ‘facts’. IMHO WH Ireland could and should have managed a transition to a new company. They did not. I have no doubt that was orchestrated by the old regime. That is why I raise it, and that is why I consider it a failure of the old board. If you disagree then feel free to do so, however the facts are on my side, as you now admit. If the new board fail to procure the services of a new NOMAD I will consider it a failing of theirs also. As things stand, we are waiting on a formal announcement.
Mr McMillan, Stu is the village idiot of this site. He is a CFC troll who attaches himself to any thread that has traction and plagiarises any post that is written in a way that his very limited intellect could never aspire to. He uses terms such as Non-Sensicle and Prejudism which exposes him. CB and Blue 7860, our resident UOF posters, are trying to pin delisting on the previous board when they know full well that the current board lied their way to power and are now being hoist by their own petard.
"Fact is these guys laid down in front of a train to get the club out of the hands of greedy vultures. For that they deserve thanks." CB at his very best and most deluded. Spin, bluster and hype to the very end as the pathetic new board are exposed as shysters backed by a crook. As for laying down in front of a train, Murray seems very keen to do so as he tried on two occasions, using two different sponsors, to force himself back on the board. On this occasion he chose King. At this point, anyone with a sentient cell in their cranium would have had a look at Specialist Outsourcing or Insider Financials or Legacy Ventures and now for his encore, Micromega Holdings Group. They would have notice how Greg Morris, who styles himself as an FD, creates the most improbable quarterly returns prior to he and King secretly siphoning off any value in the stocks while lying blindly to analysts that all is well. Anyone who invested in any of these King vehicles have lost their shirts. So when King and his concert party acquired sufficient votes for an EGM, everyone knew this would end in despair for the shareholders. King will not settle for 14.52% of Rangers. He wants it all. This is what he does best. Buy a minority stake in a company, drive the value into the ground, acquire devalued shares at 2-3p, build a majority holding then relist on any exchange that he has not burned. King's modus operandi works best when you can control the PR. At Micromega, the website is peppered with improbable share value claims, which are predicated on a maximum of 12 trades per day. At RIFC he employs James Traynor (Craig Whyte's cheerleader) to ask a member of the board 'Why are you so good?" As Merlin states, once the gullible wake up at the RST and Rangers First, there will be carnage. King does not have £30M. He had approaching £3M that was held in his wife's name when he deposited 20M Rand in a family trust. His so-called kid's inheritance. As for his wealth having avoided prison when charged with 328 charges of fraud, insider trading, racketeering and money laundering, he wisely paid up and avoided prison with less than £5M to his name. When the disgruntled investors wise up, CB might find his heroes have been tied to the train tracks.
If, as Dave King said, it is the company that needs a Nomad and that the Nomad needs to do diligence on the company's financials, what would a prospective Nomad make of interim accounts not being fully audited with a respected company like Deloitte apparently wielding a very long barge pole? What does that do to the chances of a Nomad coming on board before automatic de-listing?