spangles

Interestingly ... Responsibility statement The directors of The Rangers FC Group, whose names appear on page 3, accept responsibility for all information contained in this document except for the information set out in Part III. To the best of the knowledge and belief of the directors of The Rangers FC Group (who have taken all reasonable care to ensure that such is the case), the information contained in this document for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information. Why would that be ?

The point was there is no bar to a public issue, Murray's failure led us into all sorts of problems, as with everything else Whyte is in a no lose situation. He/They have agreed to forgo their option, a public issue if taken up negates the forgoing and still brings money into the clubs coffers, under the control of Whyte and co.

No you have them the wrong way around, there is nothing to prevent a public offering.

I know, some don't.

Not as strange as truth is to you... or maybe you can confirm the debt has been waived..or not..

The second bolded does not prevent the execution of the first bolded, a public offering, as opposed to the second being a private option relating to The Rangers FC Group. The fans taking up the slack of the public offering and pissing in the pot, the sort of scheme were Minty got his fingers burned.

No the debt isn't cleared, it has yet to be waived, and only under certain conditions.

Not bad return for a £1, also there is the mooted floatation related to the debt to be waived goodbye, all in all Whyte can't lose, only we and the club could, but I don't think it will come to that, as the tax case will be our victory, the alternative is unthinkable for us and the club.

The circular excellent reading............ http://tinyurl.com/67364so

Why as a creditor, i.e. one who is owed a debt.

No, it specifically states the season tickets are the released partial assets, more interestingly....it appears Phil Betts has signed off as the creditor or acting for the creditor,,, http://forum.rangersmedia.co.uk/index.php?showtopic=186365

So what would have been the prior to this doc surfacing, usage of the said season ticket revenues, as they appear now to be a released asset, and what will be their future usage or asset value applied to. In laymans terms of course, since they appear to have been a confined or guaranty asset previously, despite Minty's view to the contrary.

Not according to our former owner. The former Ibrox chairman firmly denied reports that the bank is insisting on using ticket sales revenue to pay down any of the club's debt. "There's no truth to the bank wanting to ring fence the season ticket money," he said.

As a consequence of the consideration for the Acquisition being £1, and following consultation with the Company and its financial adviser, Noble Grossart Limited, the Panel has waived the obligation under Rule 9 for Wavetower to make a general offer in cash to all shareholders. As a condition of this dispensation, Wavetower is required to send to shareholders, no later than 16 May 2011, a circular providing further details on Wavetower and further disclosure in relation to the terms of the acquisition.

It says in the document that the season tickets are released assets, presumably there are unreleased assets.

It would appear the pisspot overflowing with the magical £1, has turned out to be a very large lever, we are said to have had an original debt of circa £20 million, it now appears that season tickets to the total of 100,000 and projected value of at least £40 million over four years are to be used as some sort of guarantee. So we are guaranteeing at least twice our original debt, Glazer like manipulations ?

On reflection I am quite happy to await the outcome of this week, it is no small job that Whyte has taken on, I am still hopeful that we will hear something today to keep us in the loop, if only via Plus or the press, a circular tomorrow would be nice, fingers crossed. ETA.... could be posted today on re-reading the official announcement... Further to the announcement made on 6 May 2011, the Company announces that, with the agreement of the Independent Board Committee of The Rangers Football Club P.L.C. and the Takeover Panel, it has extended the timetable within which a circular will be posted by the Company to all of the shareholders of The Rangers Football Club P.L.C. to a date on or before 6 June 2011.

Gooooooooooood moooooooooornig Mondaaaaaay, are ya listening The Rangers FC Group Limited...

If what you say turns out to be correct, a piss pot overflowing with £1 has shuffled the debt about, and we the fans are the anvil for that debt to be hammered out on.

Whilst we Rangers are registered in Scotland, Wavetower-goodbye now known as The Rangers FC Group Limited, our holding company/owners are registered and based south of the border. You may not be far away with your season ticket theory, nothing like a nice leveraged bit of a buyout...

I was hoping it meant the Albion had been resolved, but this part worries me.. "no longer forms part of the company's property for a company registered in Scotland" ...

What do you know of this, and yes it has been registered at CH. .. http://www.companieshouse.gov.uk/forms/generalForms/LL_MG05s_application_for_registration_of_a_memorandum_of_satisfaction_that_part_or_the_whole.pdf

You are not seriously expecting anything GS are you ?

Aye, and you bumped it ya louper... :lol:

Naw son, 60 years o watchin Rangers, Struth, Symon and Deedle-Doddle will be birlin at the very thought of The Rangers tappin players aff o any fukers..