king statement

[SteveJ 743]

Not spinning the Law Lord never inferred that at all you spun it.

Highbury is listed, nice flats, the school in front of the girodome was listed, nice pile of rubble.

He did mention it in his reasoning. I did not say it was his sole reason. What have you been smoking?

[glasgowrangersno1 468]

Something that really hit home to me in this statement was this:

"If we cut our costs to suit our present income we will remain a small club and Celtic will shoot through 10 in a row - and beyond - while we slug it out for the minor places. That is not the Rangers that I grew up with and not the Rangers that we should be passing down to our children and grandchildren."

Obviously this is exaggerated, however, it's absolutely unthinkable that were are stuck behind those bastards for that long.

[bawsburst 1,381]

He did mention it in his reasoning. I did not say it was his sole reason. What have you been smoking?

No he didn't and I smoke rather nice Habanas.

[simplythebest 11,453]

So why did we just risk £5m in resources, if we don't need the money. Surely you are not joining the camp that think Wallace took the loan to setup some scouting scheme or attract future business, are you?

Whatever the bank balance, we needed that £1.5m badly or we would have taken the £500k interest free loan from Sandy Easdale on its own.

I think it's part of the business plan as Wallace has told us, a short term loan to help bridge any funding gaps, plenty of football clubs do that.

We've hardly risked 5 million in resources with a bit of standard security.

[stu43rigger 327]

had not thought of that.

no I don't think a lot of people have, the loan that Wallace set up is clearly just a way for laxey to get more shares, I don't see any reason they would allow King to underwrite the share issue and dilute their holding, which is why if King is serious he needs to buy shares now regardless who makes money from it

[broomloan blue nose 91]

That is a load of nonsense, the main stand at Ibrox is a category b listed building and cannot be altered in such ways, plus laxey don't have that type of power at Ibrox to do such a thing

Plus theres plenty of abandoned warehouses and open land around that area which any property developer would get much cheaper than Ibrox

it won't happen,but laxey r only getting stronger,they boughtmore shares recently,then give a loan that might convert into more shares.they r getting to many in my opinion.

[SteveJ 743]

No he didn't and I smoke rather nice Habanas.

"The judge said, he would not regard it as reasonable in all the circumstances to grant a warrant at a time when Rangers has received a pounds 1.5 million working capital injection"

That is part of his reasoning behind his decision, is it not? The £1.5m that he refers to is the loan, is it not?

[stu43rigger 327]

Something that really hit home to me in this statement was this:

"If we cut our costs to suit our present income we will remain a small club and Celtic will shoot through 10 in a row - and beyond - while we slug it out for the minor places. That is not the Rangers that I grew up with and not the Rangers that we should be passing down to our children and grandchildren."

Obviously this is exaggerated, however, it's absolutely unthinkable that were are stuck behind those bastards for that long.

thats the line that proves this to be nonsense, our income will increase next year and the year after

[SteveJ 743]

I think it's part of the business plan as Wallace has told us, a short term loan to help bridge any funding gaps, plenty of football clubs do that.

We've hardly risked 5 million in resources with a bit of standard security.

Why risk two properties? The Albion could have covered the loan.

If it is a bridging gap until June, why now? We spend £1m per month and his 120 day plan is up in April - he could have stuck to his guns and waited until after the deadline, to attract the £1.5m needed.

[bawsburst 1,381]

"The judge said, he would not regard it as reasonable in all the circumstances to grant a warrant at a time when Rangers has received a pounds 1.5 million working capital injection"

That is part of his reasoning behind his decision, is it not? The £1.5m that he refers to is the loan, is it not?

No this is his reasoning,

The judge said, he would not regard it as reasonable in all the circumstances to grant a warrant at a time when Rangers has received a pounds 1.5 million working capital injection..... to take a third of that out of circulation.

[stu43rigger 327]

If they underwrite the shares, they only get them if nobody else purchases them and it must be made clear that they are doing so. If we had people wanting to buy up a large amount, then they would still do so and the person who guaranteed the underwrite would not have to buy them.

so if King and Laxey both want to buy the shares who gets them??

[SteveJ 743]

No this is his reasoning,

The judge said, he would not regard it as reasonable in all the circumstances to grant a warrant at a time when Rangers has received a pounds 1.5 million working capital injection..... to take a third of that out of circulation.

Aye okay, you have lost your chain of thought - clearly.

Sweet dreams

[simplythebest 11,453]

Why risk two properties? The Albion could have covered the loan.

If it is a bridging gap until June, why now? We spend £1m per month and his 120 day plan is up in April - he could have stuck to his guns and waited until after the deadline, to attract the £1.5m needed.

Do you not think Wallace deserves a bit of time and patience for all this to become clearer to you?

[stfu 596]

That is a load of nonsense, the main stand at Ibrox is a category b listed building and cannot be altered in such ways, plus laxey don't have that type of power at Ibrox to do such a thing

Plus theres plenty of abandoned warehouses and open land around that area which any property developer would get much cheaper than Ibrox

Utter nonsense.

Listing a building does not prevent it changing or developing, but it does mean that consideration has to be given to preserving its particular character.

Any proposal to demolish, or to alter or extend a listed building in a way which would affect its character, must be granted listed building consent before it can proceed.

[SteveJ 743]

Do you not think Wallace deserves a bit of time and patience for all this to become clearer to you?

As I have said, I liked Wallace from the start and still do. My fear is that he has pressure from other areas - Laxey, for example. I also think the Easdales are a front.

Wallace is deserving of his 120 day time frame, another thing I have previously stated, but he needs to be wise in what he does within that period and this loan is a major clanger dropped from a mediocre height. He does not want to drop another one of those.

[stu43rigger 327]

Utter nonsense.

Listing a building does not prevent it changing or developing, but it does mean that consideration has to be given to preserving its particular character.

Any proposal to demolish, or to alter or extend a listed building in a way which would affect its character, must be granted listed building consent before it can proceed.

it's listed because it's a football stand therefore making it very difficult to get consent to turn it into appartments or a supermarket

[simplythebest 11,453]

As I have said, I liked Wallace from the start and still do. My fear is that he has pressure from other areas - Laxey, for example. I also think the Easdales are a front.

Wallace is deserving of his 120 day time frame, another thing I have previously stated, but he needs to be wise in what he does within that period and this loan is a major clanger dropped from a mediocre height. He does not want to drop another one of those.

Would you rather Lee Wallace had been sold instead of the loan for example? You might have an issue with the principle but it hardly sounds like a deal that's going to cripple us.

[Kopter 310]

Fucking hell - can the board give us full transparency?

There's so much division on here, I hate It.

[gogzy 31,195]

what exactly is it you are lookong foe transparency on kopter?

[SteveJ 743]

so if King and Laxey both want to buy the shares who gets them??

As far as I am aware, a follow-on offering is a free for all but the shares are diluted from existing shareholders, allowing money to be raised. I would doubt Laxey would want to dilute and then buy back to raise cash for the company they are charging 15% interest on loans to.

I cannot see the follow-on happening anytime soon, if Laxey are determined to be major shareholders.

[stfu 596]

it's listed because it's a football stand therefore making it very difficult to get consent to turn it into appartments or a supermarket

Difficult?

Was it difficult for Arsenal?

[stu43rigger 327]

As I have said, I liked Wallace from the start and still do. My fear is that he has pressure from other areas - Laxey, for example. I also think the Easdales are a front.

Wallace is deserving of his 120 day time frame, another thing I have previously stated, but he needs to be wise in what he does within that period and this loan is a major clanger dropped from a mediocre height. He does not want to drop another one of those.

Is this clanger all down to wallace though?? I thought these type of things would have to be voted on by the board as a whole

[SteveJ 743]

Would you rather Lee Wallace had been sold instead of the loan for example? You might have an issue with the principle but it hardly sounds like a deal that's going to cripple us.

Certainly not - Lee Wallace is key to our success.

It may not cripple us but why are major shareholders charging 15% on a loan and why would a CEO with the history that GW has, accept the terms? It does not add up.

[stu43rigger 327]

Difficult?

Was it difficult for Arsenal?

the big difference there would be that Arsenal weren't planning on using Highbury as a football stadium anymore

[simplythebest 11,453]

Certainly not - Lee Wallace is key to our success.

It may not cripple us but why are major shareholders charging 15% on a loan and why would a CEO with the history that GW has, accept the terms? It does not add up.

Investors wanting some return isn't a surprise. Bear in mind Laxey will also have put up to buy shares in then first place.