Sons of the Sloth, Why the Silence?

[siddiqi_drinker 14,635]

6 minutes ago, ianferguson said:

"With every week that passes, it looks more and more that King is only here to get his £20m back and nothing else. "

Absolute nonsense. King is many things but he's not an idiot, he knows Rangers will never return on his investment. 

Perhaps he is planning to do a Charles Green - share issue, money in, pocket money, bye-bye.   Not for a minute suggesting that is his intent, however, we've been bitten so many times that I now trust nobody connected with club finances.

[Redwhiteandblue 3,330]

6 minutes ago, ianferguson said:

"With every week that passes, it looks more and more that King is only here to get his £20m back and nothing else. "

Absolute nonsense. King is many things but he's not an idiot, he knows Rangers will never return on his investment. 

Of course. He may be able to claw some of it back though. There's more proof that's why he here rather than his promise to put us back where we belong though. 

[Smile 26,606]

1 minute ago, The Dude said:

Absolutely. Guys like GovanBlue, RFC52 and my pal KAI are just a few of the posters who offer more than I do to the board. There are more than a few who post more but contribute fuck all. Like Smile. Or Blue Avenger. Manticore was a favourite poster of mines before he passed. There are almost certainly more whose name I can't think of off the top of my head.

The funny thing is, more often than not the ones who bitch and moan about me are the ones who have butted heads with me - normally ones who had a thing about making weird sexualised allegations about me as a kid so tbh, I could give a fuck less if I rub them up the wrong way on here. If folk want me gone the report posts which break the rules. If folk simply don't like the tone they often attach themselves to my posts then tough titty.

Thank Fuck I have been named on your shit list if I had made the other list I'd have been fucking Gutted.

[The Dude 20,026]

Just now, siddiqi_drinker said:

Perhaps he is planning to do a Charles Green - share issue, money in, pocket money, bye-bye.   Not for a minute suggesting that is his intent, however, we've been bitten so many times that I now trust nobody connected with club finances.

They'd need to value the club at a ridiculous level to make what he's spent this time + 20m

1 minute ago, Smile said:

Thank Fuck I have been named on your shit list if I had made the other list I'd have been fucking Gutted.

It's not a shit list - just posters who post a lot but never actually say anything worth reading

[Redwhiteandblue 3,330]

3 minutes ago, Smile said:

Thank Fuck I have been named on your shit list if I had made the other list I'd have been fucking Gutted.

No you can live up to your name and actually smile lol. 

[Malvern 11,329]

1 minute ago, The Dude said:

It's not a shit list - just posters who post a lot but never actually say anything worth reading

Yet you read it 

[Smile 26,606]

3 minutes ago, The Dude said:

They'd need to value the club at a ridiculous level to make what he's spent this time + 20m

It's not a shit list - just posters who post a lot but never actually say anything worth reading

Yet you quoted me.

[piperpete 3,186]

10 minutes ago, The Dude said:

Absolutely. Guys like GovanBlue, RFC52 and my pal KAI are just a few of the posters who offer more than I do to the board. There are more than a few who post more but contribute fuck all. Like Smile. Or Blue Avenger. Manticore was a favourite poster of mines before he passed. There are almost certainly more whose name I can't think of off the top of my head.

The funny thing is, more often than not the ones who bitch and moan about me are the ones who have butted heads with me - normally ones who had a thing about making weird sexualised allegations about me as a kid so tbh, I could give a fuck less if I rub them up the wrong way on here. If folk want me gone the report posts which break the rules. If folk simply don't like the tone they often attach themselves to my posts then tough titty.

I’m offended as others will be not being on one of your lists, I will be in my coal cellar with the light off if anyone needs me .

[The Dude 20,026]

Just now, piperpete said:

I’m offended as others will be not being on one of your lists, I will be in my coal cellar with the light off if anyone needs me .

Youre one of the ones whose name I couldn't remember

 

[Virtuoso 27,180]

3 minutes ago, The Dude said:

A return on his current investment + £20m. No. Not a fucking chance.

From an earlier post by weeneily and explained in simpler terms than me trying to explain it:

Quote

Angel investors make their money when utilising convertible loans. 

They lend money when a company is loss making and in need of cash (typically new start tech company) and agree that they may convert to equity at some time in the future but valued at the share price at the time the convertible debt was raised. 

This way in 5 years or whatever the shares may be worth £1 but the lender still get to convert at the 10p they were worth 5 years earlier thereby making a 90p gain per share. 

So his current investment / loans will be paid back (handsomely) and any profit will offset some of his previous 20 million loss.

As I explained, he initially had a return on that 20 million investment (I have no idea how much?), before it went tits up - but that's the risk you run when pumping money for shares into a company.

[piperpete 3,186]

Just now, The Dude said:

Youre one of the ones whose name I couldn't remember

 

Is that meant to make me feel better ? Offended  even more, I have turn my cellar light off.

[The Dude 20,026]

1 minute ago, Virtuoso said:

From an earlier post by weeneily and explained in simpler terms than me trying to explain it:

So his current investment / loans will be paid back (handsomely) and any profit will offset some of his previous 20 million loss.

As I explained, he initially had a return on that 20 million investment (I have no idea how much?), before it went tits up - but that's the risk you run when pumping money for shares into a company.

If King can increase our share price to 10x it's current value then it'd be fair to say that the company is in a good position.

[Redwhiteandblue 3,330]

3 minutes ago, Virtuoso said:

From an earlier post by weeneily and explained in simpler terms than me trying to explain it:

So his current investment / loans will be paid back (handsomely) and any profit will offset some of his previous 20 million loss.

As I explained, he initially had a return on that 20 million investment (I have no idea how much?), before it went tits up - but that's the risk you run when pumping money for shares into a company.

Good post, and cheers to the person you quoted too as I had missed that. So cheers for putting that in there mate. 

[The Dude 20,026]

1 minute ago, piperpete said:

Is that meant to make me feel better ? Offended  even more, I have turn my cellar light off.

 

However you want to take it.

[The Dude 20,026]

6 minutes ago, Smile said:

Yet you quoted me.

It would make sense when I was directly responding to a post of yours, no? Or are you unaware of how the quote function works.

[The Dude 20,026]

9 minutes ago, Malvern said:

Yet you read it 

Of course I did. It was a direct response to me. It would be rude of me not to read a direct response to me even if I think the guy is a fuckwit.

[Smile 26,606]

2 minutes ago, The Dude said:

It would make sense when I was directly responding to a post of yours, no? Or are you unaware of how the quote function works.

And Again.

[Smile 26,606]

13 minutes ago, Malvern said:

Yet you read it 

He's not the Brightest.

[Virtuoso 27,180]

7 minutes ago, The Dude said:

If King can increase our share price to 10x it's current value then it'd be fair to say that the company is in a good position.

He was using it as an example, but you can see where he's coming from. We have no idea at what price the board have agreed to convert at, but it would be pure folly to think it wasn't a low rate to cash out as high as possible later on.

Here's another post from him (from the same thread):

Quote

The reason there has not been a conversion of the loans to equity is that the loans are not convertible.

They are ordinary loans with a redemption date.

They are not convertible loans

No matter what King says

What would have to happen is the loans would have to be paid back and a simultaneous transaction occur to issue new shares resulting in no actual cash transaction but just an entry in and out of the cash account in the balance sheet.

To do this they need resolution 11 to go through. This allows them to take whatever shares they want at whatever price they want without anyone else joining in the party.

Resolution 10 allows a rights issue for everyone and the directors could offer to underwrite any non take up however this would set a precedent on offer price so the lenders would have less flexibility in giving themselves a discounted price. 

It would also reduce the upside gain as it would force the board to invest at the same price as the common man. We obviously can't have the little people buying at the same price as King.

There is no reason whatsoever for res 10 rights issue not to have happened unless the board expect a substantial gain under res 11

Therein lies the answer to your question regarding conversion and return predictions.

[Blue Avenger 22,567]

23 minutes ago, The Dude said:

They'd need to value the club at a ridiculous level to make what he's spent this time + 20m

It's not a shit list - just posters who post a lot but never actually say anything worth reading

And you do?!

Thank fuck I'm on that list!

[The Dude 20,026]

1 minute ago, Blue Avenger said:

And you do?!

Thank fuck I'm on that list!

On occassion.

[LaudrupsPatrickBoots 13,510]

Why did the thread title get changed? It was fine as it was.

[Malvern 11,329]

16 minutes ago, The Dude said:

Of course I did. It was a direct response to me. It would be rude of me not to read a direct response to me even if I think the guy is a fuckwit.

So it is not alright to be impolite but it is just fine and dandy to call him a fuckwit?

Fair enough, Smile can look after himself and I am hugely disappointed I did not make your shit list to be honest, then again some of the time you do post something I don't mind reading so I don't mind liking a good post.

I do think however the crux of the post was the sons of sloth and the assumption many have, myself included, that Dinky Dave is only out for £20 Mil back regardless of how the club fairs and his actions are not proving us badly wrong. Absentee landlord comes to mind. Why are these wanks not protesting now? Not getting paid by anyone?

Maybe once Ashley has rid himself of the Toon army he can hire rent-a-oven cleaner to get him into Rangers.

[piperpete 3,186]

1 minute ago, Malvern said:

So it is not alright to be impolite but it is just fine and dandy to call him a fuckwit?

Fair enough, Smile can look after himself and I am hugely disappointed I did not make your shit list to be honest, then again some of the time you do post something I don't mind reading so I don't mind liking a good post.

I do think however the crux of the post was the sons of sloth and the assumption many have, myself included, that Dinky Dave is only out for £20 Mil back regardless of how the club fairs and his actions are not proving us badly wrong. Absentee landlord comes to mind. Why are these wanks not protesting now? Not getting paid by anyone?

Maybe once Ashley has rid himself of the Toon army he can hire rent-a-oven cleaner to get him into Rangers.

I have room in my coalceller if you need a pal 

these lists and elitism sos so yesterday 

[pcbear 10,913]

How much are our shares atm? I have pretty much written mines off as worthless . my figures might not be spot on but I think I got 714 shares for 500 quid first time round and 500 shares for 200 quid second time, that sound about right?