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Published 3705 days ago
Rangers (RFC) has announced plans to hold an EGM to vote on a wholesale change of board. The plans are a disgrace, for the EGM is to be held in London at a venue that can hold only 500. Most Rangers shareholders live in Glasgow. This appears a deliberate attempt by Rangers and its shamed financial adviser Mr Paul Shackleton of WH Ireland to disenfranchise fans.
Published 3712 days ago
Earlier this week I asked if the Board of AIM listed Rangers FC could justify why it had rejected two refinancings in favour of a third proposal put forward by a major shareholder in the club Mr. Michael Ashley. The Board of Rangers FC (RFC) is dominated by business associates of Mr. Ashley. Can Rangers show paperwork to justify its decisions and therefore show that it did not breach Section 994 of the 2006 Companies Act? Rangers has not responded. And so today I have written to AIM Regulation Team asking it to investigate
Published 2941 days ago
Earlier today the Takeover Panel slammed the dodgy antics of Dave King on numerous counts and ordered him to launch a 20p per share, £14 million, bid for the 85% of Rangers (RFC) shares he does not own. King has responded with a statement of complete and utter horseshit showing that he holds the law of the UK in contempt. King has issued a statement via Rangers which it is worth dissecting for the half truths and bollocks it contains. The statement follows with my comments in bold.
Published 3714 days ago
Earlier this week I asked if the Board of AIM listed Rangers FC could justify why it had rejected two refinancings in favour of a third proposal put forward by a major shareholder in the club Mr. Michael Ashley. The Board of Rangers RF (RFC) is dominated by business associates of Mr. Ashley. Can Rangers show paperwork to justify its decisions and therefore show that it did not breach Section 994 of the 2006 Companies Act? Rangers has not responded. And so today I have written to the Scottish FA asking it to formally investigate.
Published 3678 days ago
I am delighted to see that 85% of shareholders in rangers FC (RFC) voted at the EGM to boot out the Ashley patsies and vote on the Dave King slate as directors. But there remain a series of questions about the club’s future on AIM and also about the behaviour of disgraced advisers WH Ireland and Newgate Communications.
Published 3469 days ago
One of the joys of being in London is that folks come to see me from the Square Mile bearing documents of great interest. I shall not name my City Source. But I have obtained documents showing why the £10 million claim by Law Financial against Rangers (RFC) is utterly bogus, that Worthington (WRN) knows it is bogus and how Worthington boss Doug Ware tried to line his own pockets in an obscene fashion at the expense of Worthington going behind the back of poor Aiden Earley and Craig Whyte.
Published 3990 days ago
Having been placed into administration and a CVA proposal having been voted down, the business and assets of the previous holding company of Scottish football club Rangers were acquired and on 19th December 2012 the new holding company, Rangers International Football Club (RFC), was brought to AIM at 70p per share. With the shares currently at 22p, this second piece (for the first, detailing an extraordinary litany of woe from the December 2012 AIM admission to this point, click HERE) reviews the current position following an announcement on Friday of a summary of the findings of a business review which has left a union of Rangers fan groups “absolutely appalled”.
Published 3491 days ago
On April 2nd 2015 Rangers Football Club (RFC) was booted off the AIM casino, the junior market of the London Stock Exchange. A nominated adviser, Nomad, for many AIM companies has now contacted us to explain how this was a direct result of a covert killing by the London Stock Exchange (LSE) itself. Shareholders in Sefton Resources (SER) be warned…you may be next.
Published 3716 days ago
Rangers (RFC) has announced agreements with SportsDirect for the provision of a £5 million credit facility, with a further £5 million available “subject to due diligence by SportsDirect prior to drawn down”. However, with the company having admitted to “a number of options”, the deal now announced has been criticised as not being in the company’s best interests… We really question whether it breaches section 994 of the 2006 Companies Act. We shall be contacting AIM Regulation asking for a formal investigation. Since they are chocolate teapots, we will also be contacting the Scottish FA asking it to launch a formal probe as it appears a watchdog with some teeth.
Published 3736 days ago
Having earlier this week announced a possible offer approach from American financier and basketball teams owner Robert Sarver and that a further announcement was “expected shortly”, both Rangers (RFC) and Sarver have made further announcements – the former rejecting the initial approach and the latter explaining his interest and now making a revised proposal…
Published 3651 days ago
Rangers (RFC) has achieved what has looked impossible – effectively being kicked off AIM as a required nominated adviser (‘Nomad’) apparently has “to be satisfied that there are no reputational and/or historical issues with the profile and nature of the company seeking to appoint which might adversely impact on the Nomad”. Seemingly not a problem for the vast number of ludicrous companies there are on the market, but an issue here…
Published 3709 days ago
Rangers FC (RFC) has still not shown a shred of evidence to demonstrate that in accepting loan proposals from Mike Ashley and rejecting other refinancings it acted in the best interests of ALL shareholders. The Ashley minions who run the Rangers board are clearly loathed by the vast majority of Rangers supporters (rightly so in view of the refusal to provide evidence) and businessman Dave King has stated today that their days are numbered.
Published 3773 days ago
At 6:34pm on Thursday of last week Rangers International Football Club (RFC) announced financial results that its Chairman David Somers reckoned “reflect important progress in re-establishing a strong and self-sustaining Rangers Football Club”. Why then release them at ‘no one watching o’clock’? The following reviews.
Published 3438 days ago
Rangers FC (RFC) has announced that it will postpone its ISDX stockmarket listing until the criminal cases against Charlie Green, Imran Ahmed, Craig Whyte and others are concluded. Pro tem Dave King and associates will bail the club out with short term loans. This is all to do with who owns Ibrox.
Published 3532 days ago
We had rather missed the comedy show that was Rangers FC (RFC ) as a listed company since it was booted off the AIM Casino on April 2nd 2015. But the club has now taken a step to regaining a listing on ISDX, the market formerly known as Plus. Good news for comedy fans everywhere. Rangers listed and the trial of Craig Whyte of Rangers and Worthington infamy, an autumn of hilarity awaits.
Published 3703 days ago
The almost universally detested board of AIM Casino listed Rangers FC (RFC) had a cunning plan to deny shareholders democracy at the forthcoming EGM: hold it in London. While 2,000 might have attended the last bun fight in Glasgow, the tossers who advice the Mike Ashley Minion led board reckoned a venue holding 500 down South would do. Oh no. As we predicted at the weekend: Problemo.
Published 3501 days ago
Oh what a tangled nest of vipers is Rangers FC (RFC). I refer not to the club in its current incarnation but to scandals past. It is scandals in the plural and at the heart of them is Craig Whyte, business partner of Aiden Earley – the driving forces behind Worthington (WRN).
Published 3486 days ago
Mr Craig Whyte has been a busy boy. When not being arrested over a second set of fraud allegations concerning Rangers FC (RFC), our boy had been frantically filing away at Companies House, a series of returns showing the intimate links between himself and Doug Ware and the chaps at Worthington PLC (WRN)
Published 2909 days ago
A month ago, Tom reported the Takeover Panel’s decision that Dave King should make a 20p offer for Rangers International Football Club (RFC) (HERE) and also commented on King’s ridiculous response (HERE). Well, King has point blank refused the request to make a bid but the Panel is not backing down without a fight.
Published 2941 days ago
The Takeover Panel has today slammed Rangers (RFC) supremo David King for breaching the UK Takeover Code as well as being a prize arse in not co-operating, indeed appearing to obstruct, its enquiry. The upshot is that he has now been told that he must launch a 20p per share offer for the 85.43% of Rangers he does not own by April 12. That will cost him up to £14 million if everyone accepts.
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