WilliamCahill91 103 Posted January 8, 2015 Share Posted January 8, 2015 Revised Proposal Relating to Rangers International Football Club plc Further to the announcement on 6 January by the board of Rangers International Football Club plc ("Rangers") of their rejection of his initial proposal, Robert Sarver confirms that he has made a revised proposal to the board. The revised proposal involves investing up to £20 million for a majority shareholding by way of a placing of new ordinary shares in Rangers at 20 pence per share ("Placing") followed, if the Placing is completed, by a mandatory offer for the remaining issued and to be issued ordinary share capital under Rule 9 of the City Code on Takeovers and Mergers ("Code") at 20 pence per share. As part of the revised proposal £6.5 million would be made available to Rangers in immediate short-term funding by way of a secured loan to be repaid in 90 days or out of the proceeds of the Placing. Nothing in this announcement constitutes an announcement of a firm intention to make an offer for the purposes of Rule 2.7 of the Code and there can be no certainty that any offer will be made. Mr. Sarver, who has owned the successful Phoenix Suns NBA franchise since 2004, is CEO of the $10 billion Western Alliance Bancorporation. He has already provided proof of funds to the Rangers board. Speaking from Phoenix, Arizona, Mr. Sarver commented: "This revised proposal hopefully helps the board deal with its short-term cashflow crunch and also addresses my desire to see the club on a solid long-term financial footing. It would also enable Rangers to repay the loans from Mike Ashley and Sandy Easdale, and free it of debt. "I know, of course, that there are various groups of prominent fans who have been working hard for a long time to bring change to the club and they can rest assured that, if my proposal is accepted, I am committed to building a strong partnership with fans and key stakeholders to do what is best for the club. "I look forward to receiving the response of the Rangers board." Source: LSE/http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12207694.html Quote Link to post Share on other sites More sharing options...
Creampuff 22,628 Posted January 8, 2015 Share Posted January 8, 2015 Good lad. Quote Link to post Share on other sites More sharing options...
EastEnclosureBear 2,919 Posted January 8, 2015 Share Posted January 8, 2015 Liking it Quote Link to post Share on other sites More sharing options...
Copland bear 7,966 Posted January 8, 2015 Share Posted January 8, 2015 Still undervaluing the company, 25 to 30 million would be a more realistic figure, also every penny he spends goes straight to the club.I feel this guy could be very good for us but instead of playing a game of cat a mouse with him, just tell him the figure we would expect for a controlling interest, then he either pays it or not. Quote Link to post Share on other sites More sharing options...
daviecooper01 826 Posted January 8, 2015 Share Posted January 8, 2015 The numbers on this are way ahead of anyone else.20m for 100m new shares.Then up to 16m to buy existing 80m sharesPlus 6.5m unsecured loan, albeit he will get this back in cash or more likely further shares.This guy is the first to be genuinely serious and put proper money on the table.The total valuation of the company at 36m is about right, maybe even high.Cannot see how this can be refused. Quote Link to post Share on other sites More sharing options...
MayboleLoyal_atb 3,684 Posted January 8, 2015 Share Posted January 8, 2015 Seems a decent offer Quote Link to post Share on other sites More sharing options...
Blueshoff 11,800 Posted January 8, 2015 Share Posted January 8, 2015 I feel a sos statement coming......... Quote Link to post Share on other sites More sharing options...
born a blue nose 90,756 Posted January 8, 2015 Share Posted January 8, 2015 Why is his hand not beibg bitten off?I genuinely feel this guy is exactly what we need, yes clearly a good businessman, but above all else he's a sports fan! If someone with his pedigree and passion falls in love with our club, we will be back where we belong in no time. Quote Link to post Share on other sites More sharing options...
nachothelegend 1,932 Posted January 8, 2015 Share Posted January 8, 2015 Let it happen now.For the sake of our Club. Quote Link to post Share on other sites More sharing options...
iain1712 336 Posted January 8, 2015 Share Posted January 8, 2015 I feel a sos statement coming.........YANKEE GO HOME ? All spray painted very neatly on a matalan quilt cover. Quote Link to post Share on other sites More sharing options...
weshallnotbemoved! 714 Posted January 8, 2015 Share Posted January 8, 2015 He could offer 200 million and the fanspivs would protest against it because he isn't Dave King. Quote Link to post Share on other sites More sharing options...
DavieMacRFC 850 Posted January 8, 2015 Share Posted January 8, 2015 Accept Accept Accept, get this fuckan deal done for fuck sake. Quote Link to post Share on other sites More sharing options...
BigAmo'sThighs 848 Posted January 8, 2015 Share Posted January 8, 2015 Good looking deal as far as I'm concerned Hope the board do what's right here and we can get back to a normal football club. Quote Link to post Share on other sites More sharing options...
B1872 20,699 Posted January 8, 2015 Share Posted January 8, 2015 Is the bid not still too low and going to be knocked back by shareholders? I think he'll need to offer 23p a share Quote Link to post Share on other sites More sharing options...
ZeGowse 13 Posted January 8, 2015 Share Posted January 8, 2015 I like the sound of this guy. At least he is upfront about his intentions and sounds like he has the money to back it up. Quote Link to post Share on other sites More sharing options...
Loyal Bear 72 363 Posted January 8, 2015 Share Posted January 8, 2015 Am I right in saying the 3 Bears/King side and the Easdale bloc both have the 25% required to block this deal? If this is the case I would be amazed if both sides agreed to the takeover. Quote Link to post Share on other sites More sharing options...
raging blue 1972 894 Posted January 8, 2015 Share Posted January 8, 2015 needs done - NOW Quote Link to post Share on other sites More sharing options...
Number5 2,121 Posted January 8, 2015 Share Posted January 8, 2015 No doubt it'll probably get knocked back because there's too many that want to play a bigger part. They all know the offer, if they can better it, don't piss around put their offers in. If they can't then for the sake of the club accept this one. Quote Link to post Share on other sites More sharing options...
WWTC 2,247 Posted January 8, 2015 Share Posted January 8, 2015 The numbers on this are way ahead of anyone else.20m for 100m new shares.Then up to 16m to buy existing 80m sharesPlus 6.5m unsecured loan, albeit he will get this back in cash or more likely further shares.This guy is the first to be genuinely serious and put proper money on the table.The total valuation of the company at 36m is about right, maybe even high.Cannot see how this can be refused.Its still 20p a shareYou cant see how enough shareholders would reject losing X amount of money when the share price is almost certain to rise when we return to the SPL? Really? Quote Link to post Share on other sites More sharing options...
iain1712 336 Posted January 8, 2015 Share Posted January 8, 2015 They all know the offer, if they can better it, don't piss around put their offers in. If they can't then for the sake of the club accept this one.Exactly ! It's not as if they need to sell their shares, if they can't beat this offer to put money straight into the club they should stand aside and let him in. Quote Link to post Share on other sites More sharing options...
daviecooper01 826 Posted January 8, 2015 Share Posted January 8, 2015 Its still 20p a shareYou cant see how enough shareholders would reject losing X amount of money when the share price is almost certain to rise when we return to the SPL? Really?It will be many many years before share price gets anywhere close to original ipo price. And during those years many more rights offers and cash injections. Or.We can get a guy with no baggage and proven track record. ... Quote Link to post Share on other sites More sharing options...
Creampuff 22,628 Posted January 8, 2015 Share Posted January 8, 2015 Its still 20p a shareYou cant see how enough shareholders would reject losing X amount of money when the share price is almost certain to rise when we return to the SPL? Really?The share price would bottom out should we survive failing to achieve promotion though.20p a share isn't a bad offer when bidding for outright control, generally speaking the bids in these situations never get too close the actual share price. Quote Link to post Share on other sites More sharing options...
stampyurie 203 Posted January 8, 2015 Share Posted January 8, 2015 Its still 20p a shareYou cant see how enough shareholders would reject losing X amount of money when the share price is almost certain to rise when we return to the SPL? Really?but do they want to risk it all tho if we keep stumbling from money troubles every few weeks or worse not make the spl this season Quote Link to post Share on other sites More sharing options...
Ace 3,556 Posted January 8, 2015 Share Posted January 8, 2015 The board can't 'accept' this, they can only recommend it to shareholders who can then accept it or refuse ... but it's needs to be 75% who accept. Quote Link to post Share on other sites More sharing options...
Gillete 1,338 Posted January 8, 2015 Share Posted January 8, 2015 We need to be careful here and not just hope he is the saviour againI do like the sound of him thoughNot sure if other shareholders like king will go for this.Ideally Sarver takes control and appoints 2 of the 3 bears people on the board Quote Link to post Share on other sites More sharing options...
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