TheLawMan 6,240 Posted February 24, 2014 Share Posted February 24, 2014 Yeah, if the Easdale's are taking no money they have gone up in my estimation. But for me the bit in bold is what I was thinking, and I find it very concerning that a major shareholder would do this. Seems to a layman like heads in the trough.Seems to me that they have already made a heavy loss with the reduction in share price and this was a method to get some of their money back. In the grand scheme of things, £150k isnt exactly a show stopper, its just the principal of it and as i say, its equal, probably better, than what we could get externally. I suppose you could look at it from the other side of the coin in that i would rather our shareholders get paid £150k than an external finance company receiving it. Quote Link to post Share on other sites More sharing options...
JCDBigBear 10,832 Posted February 24, 2014 Share Posted February 24, 2014 have we actually received a 1.5 million loan then??the wording on the website suggest that we have arranged credit facilities which can be used in the next couple of months, surely they are 2 different thingsNo we haven't received the loans yet. It is simply the facility when and if we require it. Can we bear in mind that the loans may not be repaid in cash but may be repaid in new shares. Quote Link to post Share on other sites More sharing options...
Allanger 625 Posted February 24, 2014 Share Posted February 24, 2014 Agenda driven. Today it's disaster, by the end of the week BuyRangers will be touted as the salvation. Quote Link to post Share on other sites More sharing options...
stu43rigger 327 Posted February 24, 2014 Share Posted February 24, 2014 - I said similar earlier. Its a facility. Like a £1.5m overdraft if you will. thanks for clearing it up, so as some quarters amoungst our support are claiming that other investors would offer better terms surely there is still time for them to lay their cards on the table before the Laxey credit facility is used Quote Link to post Share on other sites More sharing options...
Carson's cat 744 Posted February 24, 2014 Share Posted February 24, 2014 Deflection. Noone is interested in Murray.I'm interested in why our trumpeted CEO (I'm guilty of this) has felt the need to agree to a 15% fee for a short term loan.Because his hands are tied. Laxey and the Easdales will not allow him to accept investment from DK. If this has to happen, the master pla...sorry, business plan has utterly failed. Quote Link to post Share on other sites More sharing options...
TheLawMan 6,240 Posted February 24, 2014 Share Posted February 24, 2014 thanks for clearing it up, so as some quarters amoungst our support are claiming that other investors would offer better terms surely there is still time for them to lay their cards on the table before the Laxey credit facility is used These quarters should be puting their best foot forward right now. Dont hold your breath though. Quote Link to post Share on other sites More sharing options...
TheLawMan 6,240 Posted February 24, 2014 Share Posted February 24, 2014 Because his hands are tied. Laxey and the Easdales will not allow him to accept investment from DK. If this has to happen, the master pla...sorry, business plan has utterly failed.Dont be silly. Do you hold shares in any company ? Quote Link to post Share on other sites More sharing options...
bawsburst 1,381 Posted February 24, 2014 Share Posted February 24, 2014 Surely he could have understood it but still felt that you aren't addressing the points that people are concerned with, instead of bringing Minty into this.The point is and has been addressed in the post, it has nothing to do with the boy david and all to do with present day board attacking, which as pointed out yesterday have again started, that along with the fact that king cannot invest until authorised. Quote Link to post Share on other sites More sharing options...
Inigo 32,595 Posted February 24, 2014 Share Posted February 24, 2014 Seems to me that they have already made a heavy loss with the reduction in share price and this was a method to get some of their money back. In the grand scheme of things, £150k isnt exactly a show stopper, its just the principal of it and as i say, its equal, probably better, than what we could get externally. I suppose you could look at it from the other side of the coin in that i would rather our shareholders get paid £150k than an external finance company receiving it. TBH, if the money is going out of the club it makes no difference to me which one of these it is. You're right, 150k isn't huge, but it is the principle. Even given our issues 15% seems steep to me. At least the fee is clearly stated, I suppose (apparently clear to those who know what they're talking about anyway!) As most Rangers fans are not finance experts I would be happier, in the interests of clarity and transparency, if Graham Wallace were to explain why 15% was the rate. Quote Link to post Share on other sites More sharing options...
cushynumber 25,178 Posted February 24, 2014 Share Posted February 24, 2014 So we have short term working capital till the season ticket money comes in, and then we hope that the 120 day review has come up with the answers to bridge the P&L gap. Quote Link to post Share on other sites More sharing options...
Johnnyren 601 Posted February 24, 2014 Share Posted February 24, 2014 As for Laxeys - we (rightly) hounded Stockbridge for a £200k bonus - indeed, did Laxeys not demand the return of his bonus or they would refuse to support his re-election at the AGM?And now they wan't £150k interest for a six months loan?You couldn't make any of these robbing bastards up. Our club has become a corporate trough for the greediest bastards imaginable.Spot on sir Quote Link to post Share on other sites More sharing options...
Guardian 4,281 Posted February 24, 2014 Share Posted February 24, 2014 Because his hands are tied. Laxey and the Easdales will not allow him to accept investment from DK. If this has to happen, the master pla...sorry, business plan has utterly failed.DK has never offered any investment. Nor has he indicated he will.You need to get your story straight as you have spun so much you have got tangled.You've posted ad nauseum that DK won't line anyone's pockets and is only going to invest in an IPO.Now your playing a different tune ?It uses to be mindless post slavering about mini, now you've moved on to winding us up about DK.If only you hadn't got quite so tangled up Quote Link to post Share on other sites More sharing options...
siddiqi_drinker 14,635 Posted February 24, 2014 Share Posted February 24, 2014 Keep hearing about our board members not allowing DK to invest and knocking back his overtures. Is there one shred of evidence to support these claims? Or is DK going to invest the same amount as TBK, Mini and McColl === the sum total of fuck all. Time for King to either shit or get off the pot.Must have been typing at the same time as Guardian Quote Link to post Share on other sites More sharing options...
JR 1,480 Posted February 24, 2014 Share Posted February 24, 2014 no. he wanted to dilute the share. which would leave each investor with a little less profit in the short term. as a fan i couldnt careless about investors interests over the club. what a weird fan u are.Don't presume to know anything about me ~ you have no fuckin idea. Just like you have no idea about the internal workings of King's supposed interest. Utter clownshoe. Quote Link to post Share on other sites More sharing options...
JR 1,480 Posted February 24, 2014 Share Posted February 24, 2014 Keep hearing about our board members not allowing DK to invest and knocking back his overtures. Is there one shred of evidence to support these claims? Or is DK going to invest the same amount as TBK, Mini and McColl === the sum total of fuck all. Time for King to either shit or get off the pot.Must have been typing at the same time as Guardian No evidence, none whatsoever but still some on here preach him as some sort of saviour. Ridiculous. Quote Link to post Share on other sites More sharing options...
TheLawMan 6,240 Posted February 24, 2014 Share Posted February 24, 2014 Keep hearing about our board members not allowing DK to invest and knocking back his overtures. Is there one shred of evidence to support these claims? Or is DK going to invest the same amount as TBK, Mini and McColl === the sum total of fuck all. Time for King to either shit or get off the pot.Must have been typing at the same time as Guardian And they keep forgetting that unless Dave King is just handing over his money for no shares, then the Board are not authorised to even consider it. Before King can even get a sniff of a decent percentage of the Company, a second share issue has to be offered to existing shareholders. Quote Link to post Share on other sites More sharing options...
Zappa 358 Posted February 24, 2014 Share Posted February 24, 2014 thanks for clearing it up, so as some quarters amoungst our support are claiming that other investors would offer better terms surely there is still time for them to lay their cards on the table before the Laxey credit facility is used These quarters should be puting their best foot forward right now. Dont hold your breath though. The announcements wouldn't have been made today unless the paperwork had been signed, so if the £150k Laxey fee needs to be paid whether the facility is used or not, then it would be completely pointless for anyone else to propose a cheaper alternative as it's too late now. Quote Link to post Share on other sites More sharing options...
Inigo 32,595 Posted February 24, 2014 Share Posted February 24, 2014 In fairness, there is a lot of detail about the loan on the website which suggests the board have recognised that this will cause concern amongst the supporters and are trying to address the fears by being open (although it still seems gobbledigook to me). 'The nominated advisor believes the terms of the loan facility are fair'. Quote Link to post Share on other sites More sharing options...
gogzy 31,195 Posted February 24, 2014 Share Posted February 24, 2014 Also in regards to that LSE statement: The Easdales are getting Edmiston House & Albion car park in return for their loan? And laxey can be repaid in cash or in shares whichever they choose?also:It's not actually a lie re-reading that article, but it was made out that this wasn't going to be a crisis-loan, which it quite clearly is.haha brilliant.reading comprehension at it's finest. Quote Link to post Share on other sites More sharing options...
Carson's cat 744 Posted February 24, 2014 Share Posted February 24, 2014 DK has never offered any investment. Nor has he indicated he will.You need to get your story straight as you have spun so much you have got tangled.You've posted ad nauseum that DK won't line anyone's pockets and is only going to invest in an IPO.Now your playing a different tune ?It uses to be mindless post slavering about mini, now you've moved on to winding us up about DK.If only you hadn't got quite so tangled up DK wants the Board to recommend to the shareholders that there should be another new share issue. He will then buy a significant number of new shares. Why is this not happening? I suspect you already know the answer. Quote Link to post Share on other sites More sharing options...
CanadianBacon 2,088 Posted February 24, 2014 Share Posted February 24, 2014 haha brilliant.reading comprehension at it's finest.It's the way he tells them gogzy. Quote Link to post Share on other sites More sharing options...
siddiqi_drinker 14,635 Posted February 24, 2014 Share Posted February 24, 2014 Wonder if the loan from the Easdales is them 'diverting' money from the tax-man?? Quote Link to post Share on other sites More sharing options...
stu43rigger 327 Posted February 24, 2014 Share Posted February 24, 2014 The announcements wouldn't have been made today unless the paperwork had been signed, so if the £150k Laxey fee needs to be paid whether the facility is used or not, then it would be completely pointless for anyone else to propose a cheaper alternative as it's too late now.If an institutional investor steps forward with better terms than it's an own goal for the board, as it's the sons of struth claiming this then it would help there stance to have this made publicalso is the Laxey facility payment not 15% of the amount used as opposed to a £150k payment up front?? (Lawman might be able to confirm)Also why do all of your posts contain an if that paints a far negative picture of the situation?? Quote Link to post Share on other sites More sharing options...
gogzy 31,195 Posted February 24, 2014 Share Posted February 24, 2014 Don't know if i'm reading the article correct but are both not taking a 15% payback option?that isn't how I read it mate.Laxey are charging 15% so will get 1155000 back so are going to make just over 100k in profit. Easedales will get their 500k back and nothing else.I guess that's the difference between a Rangers man putting the money in and a hedge fund. Quote Link to post Share on other sites More sharing options...
gogzy 31,195 Posted February 24, 2014 Share Posted February 24, 2014 You don't know what Dave King wants, for all we know he may just want a seat on the board, or to become Chairman. I'd rather his terms and his money, than anyone in that boardroom, minus Graham Wallace as he seems to be the only man that knows what he's actually doing.Also Laxey etc haven't invested anything.You would rather DKs terms, but you don't know what they are yet?That makes perfect sense. Quote Link to post Share on other sites More sharing options...
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