Stock Exchange Statement RE: Sevco 5088

[sandymcm 25]

In light of the recent media speculation in relation to alleged claims which are purported to have been made by Craig Whyte, Aidan Earley, Law Financial Limited or Worthington Group plc in relation to the ownership or control of Sevco 5088 Limited ("Sevco 5088"), Rangers confirms that no legal claim has been received by Charles Green, Imran Ahmad or the Group. As none of the allegations that have been made in the press have been substantiated by evidence of any legally enforceable rights and as details of any claim, whilst threatened, have not been received, the company regards any such press commentary and speculation to be highly spurious. The Group has been and continues to receive legal advice to protect the business, assets and reputation of the company and its directors from such spurious claims.

In view of recent media speculation, the company wishes to clarify that Sevco 5088 is not an active subsidiary of the Rangers International Football Club plc. It is and has been a defunct non trading company over which termination proceedings began last year and which would have been struck off by the Registrar of Companies had false claims of directorships not been filed recently at Companies House. Sevco 5088 was listed in the company's announcement dated 22 April 2013 to comply with the AIM Rules for Companies requiring disclosure of directorships held by the directors of the company both currently and during the preceding 5 years. Sevco 5088 was not the acquisition vehicle which purchased the assets of Rangers Football Club.

[Bears r us 30,771]

In light of the recent media speculation in relation to alleged claims which are purported to have been made by Craig Whyte, Aidan Earley, Law Financial Limited or Worthington Group plc in relation to the ownership or control of Sevco 5088 Limited ("Sevco 5088"), Rangers confirms that no legal claim has been received by Charles Green, Imran Ahmad or the Group. As none of the allegations that have been made in the press have been substantiated by evidence of any legally enforceable rights and as details of any claim, whilst threatened, have not been received, the company regards any such press commentary and speculation to be highly spurious. The Group has been and continues to receive legal advice to protect the business, assets and reputation of the company and its directors from such spurious claims.

In view of recent media speculation, the company wishes to clarify that Sevco 5088 is not an active subsidiary of the Rangers International Football Club plc. It is and has been a defunct non trading company over which termination proceedings began last year and which would have been struck off by the Registrar of Companies had false claims of directorships not been filed recently at Companies House. Sevco 5088 was listed in the company's announcement dated 22 April 2013 to comply with the AIM Rules for Companies requiring disclosure of directorships held by the directors of the company both currently and during the preceding 5 years. Sevco 5088 was not the acquisition vehicle which purchased the assets of Rangers Football Club.

I am no expert on these things, but this seems like good news to me.

[scarkev 3,540]

I am no expert on these things, but this seems like good news to me.

It is basically what many of us have been saying for weeks....if whyte had evidence then why hasn't he went to court? Why is he doing all this via the press?

[Creampuff 22,628]

So Whyte's talking out of his arse?

Who'd have thunk it?

[daviecooper01 826]

Wow - there you go, Whyte sunk.

Next....

[sandymcm 25]

certainly sounds like it.

[Bears r us 30,771]

It is basically what many of us have been saying for weeks....if whyte had evidence then why hasn't he went to court? Why is he doing all this via the press?

I agree and it backs up us who have still been backing Charles Green, I am now waiting for the press to report this statement in a big way, not.

[DAVIE8CH 296]

Shocker whyte tells lies and the Scottish media say its true

[cushynumber 25,178]

so Whyte actually had no money to put where his mouth is. Little dig at the press as well maybe? it would be nice to see some legal action taken against some of the shite that was written as fact a few weeks back

[sandymcm 25]

It is and has been a defunct non trading company over which termination proceedings began last year and which would have been struck off by the Registrar of Companies had false claims of directorships not been filed recently at Companies House.

Can whyte get done for this?

[bear down under 28]

Hopefully this puts matter to bed and we can now get a united boardroom with a new experienced ceo in charge and move forward you dont think traynor could be a candidate?

[Dutchy 1,200]

It is and has been a defunct non trading company over which termination proceedings began last year and which would have been struck off by the Registrar of Companies had false claims of directorships not been filed recently at Companies House.

Can whyte get done for this?

He should be, but if he can't, we'd have to ask ourselves why and what type of 'strong' leadership are our present law makers actually talking about?

[black75 46]

Good news then Hopefully we can start moving forward from now onwards

[BareGrills 145]

Sevco 5088 was not the acquisition vehicle which purchased the assets of Rangers Football Club

That I see as a problem as 5088 had an exclusive agreement with D&P and at no time did D&P inform the creditors that this was no longer the case until the day of the sale.

[daviecooper01 826]

Sevco 5088 was not the acquisition vehicle which purchased the assets of Rangers Football Club

That I see as a problem as 5088 had an exclusive agreement with D&P and at no time did D&P inform the creditors that this was no longer the case until the day of the sale.

It was not an agreement - it was an "invitation to treat" - two different things completely. And it was with Green, using any purchase vehicle of his choosing.

[Raghead 24]

Link?

[bornabear 6,201]

Isn't it strange how the mhedia are quick to print and broadcast their lies, yet are very slow in doing the same with the truth. I think the Club should be going after these bastards through the Courts.

[sandymcm 25]

Link?

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11560222

[ForeverBlue_Since91 2,895]

Sevco 5088 was not the acquisition vehicle which purchased the assets of Rangers Football Club

That I see as a problem as 5088 had an exclusive agreement with D&P and at no time did D&P inform the creditors that this was no longer the case until the day of the sale.

So the "Stock Exchange" is lying?

[Jimfanciesthedude 24,495]

How must the backstabbers in the boardroom feel now that they effectively ousted green for nothing

[daviecooper01 826]

So the "Stock Exchange" is lying?

Eh?

The Stock Exchange have written a comment describing the sale in a manner different to that lodged in the Court of Session by D&P?

Link please.

[Sweetheart 8,458]

It is and has been a defunct non trading company over which termination proceedings began last year and which would have been struck off by the Registrar of Companies had false claims of directorships not been filed recently at Companies House.

Can whyte get done for this?

I don't know but it appears Whyte was trying to shaft us again, by trying to make doors to allow him back to our club. I'm sure CG would have shut the doors firmly after he'd given Whyte his £1 back.

[Creampuff 22,628]

Pfft.

What do the Stock Exchange know? WHO'S LEAKING THE INFO TO THEM?!

[JCDBigBear 10,809]

Sevco 5088 was not the acquisition vehicle which purchased the assets of Rangers Football Club

That I see as a problem as 5088 had an exclusive agreement with D&P and at no time did D&P inform the creditors that this was no longer the case until the day of the sale.

You are wrong!!

Duff & Phelps notice to creditors last July noted that the offer to buy the RFC Assets if the CVA failed would be via a new company being formed to buy the assets and go down the "newco" route. That was why Sevco Scotland was formed.

[Agoram1 42]

Sevco 5088 was not the acquisition vehicle which purchased the assets of Rangers Football Club

That I see as a problem as 5088 had an exclusive agreement with D&P and at no time did D&P inform the creditors that this was no longer the case until the day of the sale.

Only in the event of a CVA mate. Does not come into play when liquidation happened.