The Circular

[gunslinger 270]

"The Rangers FC Group is to contribute to the Club the amount required to meet a liability

owed by the Club to HM Revenue & Customs in relation to a discounted option scheme tax"

Is the bolded referring to the EBT's the HMRC case is about or the other £2.8mill bill?

Edit - Wait, if it's the HMRC bill Whyte is committing to pay then why have the clause about the club going insolvent? If he's paying any potential bill then there would be no insolvency?

already owed. its the 2.8 million.

[gunslinger 270]

I can't figure out why it would be in such vague terms if it was the £2.8m we know about. All the other known figures are there in black and white. I take from that that it is the possible future liabilities.

Gunslinger, what do you base your claim that it is the £2.8m on?

becaus its already owed and its in relation to the discounted options scheme. not the ebt.

[thebooler 4,509]

Everything's fine.

Close all the takeover threads for the summer holidays now.

[spangles 7]

if we are made in solvent rangers owe whyte millions anywhere between 25-55 million depending on timing.

he will get his money first.

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.

[bluepeter 5,627]

Ok, but we're not going insolvent anyway as we're not going to lose the tax case

Even if we do, there is nothing bad in this circular. Nobody was expecting Whyte to promise to pay the full tax bill if one came from his own pocket, were they?

[bluepeter 5,627]

Not bad return for a £1

Eh? He can only be repaid what he has paid in.....

[adam2102 582]

EVERYTHING IS GONNA BE ALRIGHT

[gunslinger 270]

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 mooted flotation has a separate agreement that it wont take place.

also hes putting in the cash. if we don't go insolvent the cash stays in. hes just covering his ass.

[ogbg 20]

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.

Are you referring to this bit: "The Rangers FC Group will either waive the debt that it has acquired or convert it into equity by way of an issue of new voting ordinary shares in the Club"?

If so, then I don't think they will exercise the 2nd option according to this bit: "However, The Rangers FC Group has separately undertaken to the Club that it will waive the debt that it has acquired and not exercise its option to convert it into equity as provided for in the Agreement"

[simon 1,758]

Right, for the daftys, everything is sound?

[bluepeter 5,627]

Right, for the daftys, everything is sound?

[gunslinger 270]

Right, for the daftys, everything is sound?

everything depends on the tax case.

[thebooler 4,509]

Right, for the daftys, everything is sound?

Sound as a pound.............................................

[thebooler 4,509]

everything depends on the tax case.

Which means everything's sound.

[bluepeter 5,627]

everything depends on the tax case.

As it always has. The rest is good news, not a single one of the doom and gloom predictions about this circular has proved to have any basis, from what I can see.

[gunslinger 270]

Which means everything's sound.

if you want to bury your head in the sand over that one then feel free.

i suspect it will come to noting. but blind faith in that is not a good idea.

[bluepeter 5,627]

if you want to bury your head in the sand over that one then feel free.

i suspect it will come to noting. but blind faith in that is not a good idea.

What's the option, wander about imagining the worst case scenario? There's nothing you or I can do about the tax case, we were never going to get a Whyte knight to promise to pay it regardless of amount were we?

[ogbg 20]

if you want to bury your head in the sand over that one then feel free.

i suspect it will come to noting. but blind faith in that is not a good idea.

Is that not kind of what Whyte is doing though? With regards to the club at least.

[gunslinger 270]

As it always has. The rest is good news, not a single one of the doom and gloom predictions about this circular has proved to have any basis, from what I can see.

nope cant think of any either.

[Nikica Jelavic 41]

What happened to the guy that told us that there would be nothing issued today?

[gunslinger 270]

Is that not kind of what Whyte is doing though? With regards to the club at least.

?

burying his head in the sand or blind faith?

[gogzy 31,195]

if someone would be so kind as to cliffnote exaclty what that circular means then that would be great.

seems to be all good news but i stuggle to understand some of it

[thebooler 4,509]

if you want to bury your head in the sand over that one then feel free.

i suspect it will come to noting. but blind faith in that is not a good idea.

In your opinion.

[gunslinger 270]

What's the option, wander about imagining the worst case scenario? There's nothing you or I can do about the tax case, we were never going to get a Whyte knight to promise to pay it regardless of amount were we?

confidently saying there is nothing to worry about is not the way to go.

expect the best prepare for the worst my old gran used to say.

[ogbg 20]

?

burying his head in the sand or blind faith?

Blind faith. I mean, maybe he has a plan for that eventuality, but he hasn't outlined it (apart from the part where he doesn't waive the debt).