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Stitched up like a kipper by chuckles. Karma big man - karma. Onwards and upwards - 55 here we come.
But this was all so very predictable. I have retained a morbid interest in this stock after i predicted that it would go bust ten years ago following a Champions League game and terrific hospitality in the Thornton Suite (ok, I got my prediction out by a few years, but I was spot on because the fundamentals were all wrong under SDM and still are). One of my dear chums was involved in the disposal of this basket case of a business and I certainly would not have invested in this stock under any circumstances. But, I did ask about this fellow King, hmm, probably a couple of years ago whilst enjoying a glass of wine in the sunshine with him. His answer was curt, but along the lines of..........he always wanted control of the club and he will do anything, absolutely anything, to get it for nothing. Well, he was spot on. The gullible masses have been hoodwinked by him and that fanzine, the Daily King, into thinking that he was some sort of saviour. He is not. He is your worst nightmare. In my view, he possesses none of the qualities required to be an appropriate guardian of this stock.......intellect, leadership, vision. Oh, and he is a convicted crook. If that is what you mean by a 'Real Rangers Man', then this stock has no future whatsoever. Precious 'Real Rangers Men', like McCoist and Smith did huge and long lasting damage to this business. The club desperately needed a fresh start. Not a crook. But, hey the fans have got what they wanted. And deserve. As for a seven year plan, well, to compete near the top by 2022, well, it did make me giggle. Good luck with that.
Q bought £500 in shares of millwall holdings about 15 years ago. Can anyone tell me if they are worth anything now? Or are they just worthless as i expect they are? A: Absolutely nothing. They were diluted to 0.05p and then re-issued 1 for a 100. So 100 old shares equals about 0.0005p In yesterday's RNS, which was a masterpiece in obfuscation. Paul Murray extolled the benefits of delisting from AIM. Millwall FC (MFC) could have been used as an example, not Arsenal. MFC chose to delist, it was not forced upon them due to a toxic director in their midst. In doing so, the Q&A above will provide an indication of what to expect from a small shareholding. Having decimated the fans shareholding, the directors attempted to raise £7.8M from a rights issue. They raised £139,000. Prior to the relisting, the board offered 1 share in ISDX for 100,000 held on AIM. The directors managed to acquire 77.8% of all shares which coincidentally is precisely what Dave King's family trust owns in his latest scam in Micromega Holdings Group. However, I read with astonishment that the RST are buying the old board corporate malfeasance lies as per the RNS. They are believing that a NOMAD had no problem with a convicted tax felon. Their gullibility beggars belief. They intend to invest more in whatever vehicle King chooses to offer shares, having first acquired a majority holding in RIFC. To achieve this, King requires just over 29 Million shares. At 2p per share, this will cost him £586,656, which he can draw from the family trust Oasis. The RST are so gullible and willing to be scammed that I would ask their members to take a long hard look at their governance.
Amazing how this has rolled out with all the characters along the way, lets write a book
Stu - Big Mike did release money but took it straight back. "RRL will declare a dividend of a total of GBP 1,610,000 prior to the Transfer. The Club will use the proceeds of its share of this dividend, inter alia, to repay sums owing to SD in respect of the cessation of onerous leases on unprofitable stores entered into by a previous Rangers management team." That leaves £1.6m in the RRL account. Had Mike handed that over then all that would have happened is that the money would have been burned and the 3 Bears would be stumping up £1.5m now as opposed to a few weeks back. The sums are simple. The company stills spends more than it brings in. The oldco did the same and the newco are following suit. To achieve premiership glory and regular euro football tens of millions will be required year on year and as yet there is no indication that anyone is willing to put up that level of cash to make it happen.
Or it might be about legalities another word King doesn't seem to understand the definition of
Or Big Mike could have released some of the £3.2m of the companies cash he was sitting on. He decided not to.... it all about choices I guess.
Inshallah
I should be everyone's last post today.
http://www.bbc.co.uk/news/uk-scotland-scotland-business-32165790 As previously declared I'm not a Rangers fan, Hibs are my team. Was a shareholder here and made a tidy (by my standards) profit, getting out before trading was suspended. The article in the link above should ring alarm bells for all those Dave 'the Caddy' King fans who think he's got Rangers best interests at heart and spend their time rubbishing those who hold a different view on here. For those who don't like, or can't be bothered reading I'd draw your attention to the Out of View section at the bottom. Anyway now I'm out of this share I'm just sitting back enjoying the pantomime and the gulibility of the blinkered bluenoses. Things must be bad when Paul Murray says it will be 2022 before Rangers are back competing at the top level of European football. Even Mad Vlad at Hearts, a club with a lot less resources for the non Scottish football fans, claimed he'd have them winning the Champions league in 5 years!
Buster the Easdales were an easy target for King and Co's mudslinging because, unlike Ashley, it wouldn't be water off a duck's back. I am sure they felt it even more than the few public indications. It didn't stop them providing a £500k loan over the last new year which almost certainly stopped RIFC form actually trading while insolvent. The interims show available cash at 31st December as £127k. Integrity and dignity then but words with definitions that are totally alien to the interim chair and his puppetmaster.
It will be a long road Craggy, and many bumps along the way, but in spite of yesterday's set I still feel the overall trajectory for the company is upwards.
£650,000 to get shot of the old board who burned £70m looks like a bargain to me....
@blue7860 - does not matter who many false claims anyone makes - they said we would not get NOMAD - and they were right. Now they saying we wont get on ISDX ( stu cant even read the requirements - 12months working capital - that's £20m - we could only raies £1.5m for this months bills from the board ). You say we win "either way" ??? what administration2 or liquidation2 - *******s! They claims than King (a liar) and his concert party would take up down are coming true... what is kings plan... liqudation2 - buy assets of the club (not company) and go back to div3 - NO WAY!!!!! never again! King is gambling his last £2m - to try and have another share floatation where he gets away with £20m.... its so obvious... and nothing you can do to stop it. you think you win either way.... this time we cant blame any external conspiracy - its our boards that have plotted this course - and the smart posters and bloggers have shown us the way every step of the way.... but dolts like you wont accept the truth. you cant handle the truth.
@stuzeeuk - "made me laugh, King isn't even a board member yet. " made you laugh????? Our historic club thrown off AIM market.... our shareholders once more burnt, fans £650,000 invested via RST gone.... King is shadow board member - even PM is interim !!!! last day go away you celtic supporting troll you have nothing to add
Easdale is now threatening to take legal action against Dave King personally, for not delivering a new NOMAD. Given Easdale was on the board that orchestrated the previous NOMAD's departure without, it appears, facilitating any handover from WH Ireland to Cantor Fitzgerald...... made me laugh, King isn't even a board member yet. http://www.bbc.co.uk/sport/0/football/32171135 Good luck Sandy, looks like you have blown your dough .....
Look like the tactic to cause as much mayhem before they left has back fired and played into Kings hands. Although I have to say I don't think is the best move for the stock. It should re-list on ISDX if it can. Sandy trying to sue any board of RIFC is a joke. The court case would be a mud slinging match of the highest order.
New share trading to be set up by next Tuesday, and ink barely dry on RNS and opps - need 12 months finance to get onto ISDX took posters on this site less than 2 hours to spot this flaw in the plan... how much did new board spend on NOMAD to fail to get back on AIM, how much spent on new facility, how much spent on prep for ISDX only to fail its criteria. you could not make up a board so incompetent in last 4 weeks.... loosing director, nomad, aim listing, £5m loan, institutional investors, fan board investment....
Laughing at Sandy and his legal action threats. He's done his dough - karma.
Hope you are right Craggy!
@stuzeeuk - "Maybe you can start a twitter account also? … haha…. " but you already HAD TO CLOSE down your twitter account as you used same handle.... what a prat - nice kilt by the way. You also stated you filter me out - so how can you read my posts and reply - dolt!
Everyone on here knows you have a hidden agenda and are bitter that your investment has gone pear shaped, you don't support the team only your own pocket ! glad to see you are also unhappy.. Rangers will survive make no mistake about it.. 45k fans will fill the stadium again next season and once rid of all those dodgy contracts we will be self sustainable Yipee the Witch is finally dead
The mensch you always refer on this BB, that this "stock" is trash - if you are refering to the value which has more than halved since the IPO you are correct. It can no longer be refered to as a "stock" dear chap from Tuesday onwards and can rightly be referred to as a Club to which it has always been in the eyes of the fans. Glad to see Sandy Easdale is not very happy that the club has been de-listed another kick in the golly ganders for him! WATP
Do you hope to be taken seriously with that question?