News this morning regarding £1.5m loan

[JR 1,480]

Thought Mark Dingwall had resigned from the RST:

markdingwall@btinternet.com markdingwall@btinternet.com

to me

Fan groups statement regarding loans from Easdale and Laxey

Rangers Supporters Association, Assembly & Trust Statement

The Rangers Supporters Association, Assembly and Trust have been contacted by a number of Rangers supporters, who are also current shareholders, indicating they would have provided a secured loan of £1.5m on more favourable terms than the combined Laxey Partners/ Easdale loans. The terms of the Laxey loan in particular seem unduly onerous.

We are concerned that not all shareholders are being treated equally. Fans and shareholders both deserve an explanation as to why other shareholders were not approached to provide this loan.

The 3 groups call on Rangers, or the NOMAD Daniel Stewart, to clarify the matter. Either in public or through a direct meeting with fan representatives. We have contacted both companies with our concerns.

Well well....

[Zappa 358]

I might have read it wrong, but do they not get their £1m back in cash, but the transactional fee (150k) can be converted to shares or paid in cash?

that isnt how I read it mate.

cash or shares was the way i read it.

It stated - "The premium on the Laxey Facility is payable in cash or, at Laxey's discretion, in ordinary shares"

Laxey will almost certainly want to take repayment in whatever form is most beneficial to themselves.

When you read the section about how the share price will be calculated, it means that the share price cannot be any higher than 26.5p, but that if shares are issued to raise funds at a price lower than 26.5p, then the lower price would be used.

Using the 26.5p price, then by my calculation if they are allowed (by shareholders at the AGM) to take repayment in shares, the lowest number of shares they could possibly get would be 4,339,622 shares. That is currently the equivalent to 6.66% of the company, but would obviously be a fraction lower due to dilution.

[Zappa 358]

6.66% ?

The mark of the bheast!

[glasgowrangersno1 468]

Gogzy

How many times are we going to let it happen and just keep saying, ah well, it was them lot before you that done it, carry on!

Someone needs to take accountability for this, the board can bleat it was them big bad boys that done it and ran away, but they need to show us why they are different and what they are going to do about it.

This 120 day review really just takes us to the end of the season and I start to worry that little will be forthcoming after that.

Absolutely spot on.

We are in this mess because we put trust in literally anyone. We need to question this sort of thing otherwise we could end up in shit street again.

[Carsons Dog 9,878]

I am so disappointed that the board have taken these loans. I could have given a much larger loan at more favourable rates.

See what I did there.

You are the Sons of Shitstirrers and I claim my £5

This from their twitter

"I now believe that at least two groups of investors offered the NOMAD better terns than Laxey. Bad news however it does prove that other investors are willing to back club. How the club couldn't find them is another story."

This is followed by a load of lunatics ranting in the usual manner - here's an example

"They never tried to find new investment from anyone else. This is reeking this. The supporters and investors need to combine their efforts to remove this lot from power. How anyone can see this as sound business and how the hell are Rangers benefiting from this is delusional. SPIVS OUT"

[trublusince1982 768]

thats how shares work.

they will get the value thry put in, in shares.... if the shares go up they make money....if the shares gi down they lose money.

so why are they not doing that? Instead of making money by making the share price rise they are instead giving loans and getting returns.

Why have none of them bought hospitality packages for their companies helping combat the 51% drop? Why are none paying for sponsorship for the many companies they own at Ibrox? Why not pay the £500k for naming rights of the academy instead of a loan? Even DM had MIM take sponsorship at Ibrox. as custodians of the club why are they not concentrating on helping to increase the terrible turnover we have right now. You don't need a 120 day plan to support the infastructre which is already there. All you need from them is the will.

Could it be because they want to make bigger returns from the club than they would receive through building infrastructure and raising the share price?

in no way do loans without trying every other avenue first help the club, infact it does the opposite and stunts our growth.

[docspiderman 1,231]

It stated - "The premium on the Laxey Facility is payable in cash or, at Laxey's discretion, in ordinary shares"

Laxey will almost certainly want to take repayment in whatever form is most beneficial to themselves.

When you read the section about how the share price will be calculated, it means that the share price cannot be any higher than 26.5p, but that if shares are issued to raise funds at a price lower than 26.5p, then the lower price would be used.

Using the 26.5p price, then by my calculation if they are allowed (by shareholders at the AGM) to take repayment in shares, the lowest number of shares they could possibly get would be 4,339,622 shares. That is currently the equivalent to 6.66% of the company, but would obviously be a fraction lower due to dilution.

I calculated it as around 662k shares at the 26.5p level.

[Jonok 1,245]

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.

Well said moses

[JR 1,480]

You are the Sons of Shitstirrers and I claim my £5

This from their twitter

"I now believe that at least two groups of investors offered the NOMAD better terns than Laxey. Bad news however it does prove that other investors are willing to back club. How the club couldn't find them is another story."

This is followed by a load of lunatics ranting in the usual manner - here's an example

"They never tried to find new investment from anyone else. This is reeking this. The supporters and investors need to combine their efforts to remove this lot from power. How anyone can see this as sound business and how the hell are Rangers benefiting from this is delusional. SPIVS OUT"

Jesus wept.

[Allanger 625]

You are the Sons of Shitstirrers and I claim my £5

This from their twitter

"I now believe that at least two groups of investors offered the NOMAD better terns than Laxey. Bad news however it does prove that other investors are willing to back club. How the club couldn't find them is another story."

This is followed by a load of lunatics ranting in the usual manner - here's an example

"They never tried to find new investment from anyone else. This is reeking this. The supporters and investors need to combine their efforts to remove this lot from power. How anyone can see this as sound business and how the hell are Rangers benefiting from this is delusional. SPIVS OUT"

Ha ha.They are so predictable

[j1mgg 3,766]

so why are they not doing that? Instead of making money by making the share price rise they are instead giving loans and getting returns.

Why have none of them bought hospitality packages for their companies helping combat the 51% drop? Why are none paying for sponsorship for the many companies they own at Ibrox? Why not pay the £500k for naming rights of the academy instead of a loan? Even DM had MIM take sponsorship at Ibrox. as custodians of the club why are they not concentrating on helping to increase the terrible turnover we have right now. You don't need a 120 day plan to support the infastructre which is already there. All you need from them is the will.

Could it be because they want to make bigger returns from the club than they would receive through building infrastructure and raising the share price?

in no way do loans without trying every other avenue first help the club, infact it does the opposite and stunts our growth.

Just because the saviour from castlemilk has paid an over inflated amount for advertisement at Ibrox, doesn't mean everyone else has to.

[trublusince1982 768]

Just because the saviour from castlemilk has paid an over inflated amount for advertisement at Ibrox, doesn't mean everyone else has to.

why would it need to be over inflated?

Just the market price would be good enough and make a dent in any debt we would need.

[Zappa 358]

I calculated it as around 662k shares at the 26.5p level.

100p divided by 26.5p = 3.7735849056603773584905660377358

Multiply that by 1,150,000 = 4339622.6415094339622641509433962

If you bought 4,339,622 RIFC shares in the market for 26.5p each it would currently be equivalent to 6.66% of the company.

[gazza27 15,287]

We have no money left simple as that. This 1.5 mil is for running costs what happens when that runs out it's very worrying

Don't talk pish

[liquid111 51]

We are in this mess because we put trust in literally anyone.

...

We need to question this sort of thing otherwise we could end up in shit street again.

The Rangers support are practical. It will support whoever is in charge and is perceptibly doing a good job.

It is not the fault of the Rangers support that the club is in this position. The support contibute massively to the club in terms of financial wellbeing and will continue to do so.

Rather, it is the fault of poor management on the business side over the last 10 years (at least). What Rangers need is capable people who will do a good job. I happen to think that Graham Wallace is highly capable and is of the right pedigree to get Rangers into the right financial shape.

[trublusince1982 768]

The Rangers support are practical. It will support whoever is in charge and is perceptably doing a good job.

It is not the fault of the Rangers support that the club is in this position. The support contibute massively to the club in terms of financial wellbeing and will continue to do so.

Rather, it is the fault of poor management on the business side over the last 10 years (at least). What Rangers need is capable people who will do a good job. I happen to think that Graham Wallace is highly capable and is of the right pedigree to get Rangers into the right financial shape.

maybe as a support we should learn to judge that perception on actions rather than words?

[Frank Reynolds 3,359]

they can put money in without needing a return twice. first return is when they get paid back second time is when the share price rises as a concequence. nobody is asking them for the unreasonable. they could have raised the 1.5m through their companies taking out sponsership or one or more could have bought the naming rights to the academy. there are many ways for investors to invest that are mutually benifical unfortunately they only seem concerned with a cash return.

They could have put money in without needing a return twice

They could have put money in without needing a return once

But I highly doubt these people have made the money that they are choosing to invest by being everyone's hero and just giving money away.

If that was their philosophy, they wouldn't be worth what they are now, and so wouldn't have the money to invest anyway.

If people are upset that we are taking a loan at all, then that is understandable, but these guys are putting their own money in, and it's not entirely unreasonable that on top of getting the loan repaid, they see some long term benefit in terms of share price increase

[SteveJ 743]

Your OP claims you have found a lie.

It was said months ago that we had access to a £2.5m credit facility. We have taken advantage of £1.5m of that facility. That's not a crisis loan in my book.

Incorrect - that £2.5m credit facility was from Metro Bank, which was pointed out to have a high interest rate. There was never any mention of a credit facility from existing shareholders.

[calio 688]

Chuckies best pal Imran will be relieved that his settlement money has been sourced, win, win all round.

What an effin shambles, reading through this thread is enough to make you believe that some `people` want us scuttled as badly as the soap dodgers.

There`s nothing wrong with wanting to see the best in people but it was many`s blind faith in Messrs Green, Ahmad and Stockbridge that got us to this point & it`s just horrendous that many within our support seem set to make the same mistake over again.

Well done Chaps the `earls` will be forever grateful.

[Muirheadbear 1,483]

Chuckies best pal Imran will be relieved that his settlement money has been sourced, win, win all round.

What an effin shambles, reading through this thread is enough to make you believe that some `people` want us scuttled as badly as the soap dodgers.

There`s nothing wrong with wanting to see the best in people but it was many`s blind faith in Messrs Green, Ahmad and Stockbridge that got us to this point & it`s just horrendous that many within our support seem set to make the same mistake over again.

Well done Chaps the `earls` will be forever grateful.

You're gonna get bullied mate! A good point nonetheless.

[Poetry_In_Blue 1,043]

Wow over 20 pages now! Why can't we get a thread this long when there is nothing for those with their own agenda to twist, as I said earlier on it is now getting hard to distinguish who actually supports the club at times with those who only have their own selfish intentions to cause more disruption.

[Muirheadbear 1,483]

Everyone who posts here passionately supports the club mate - I've no doubt about that.

But it's almost impossible not to have differing opinions. Just some have to get aggressive and name call etc.

[Poetry_In_Blue 1,043]

Everyone who posts here passionately supports the club mate - I've no doubt about that.

But it's almost impossible not to have differing opinions. Just some have to get aggressive and name call etc.

Sorry but with some posters I do have to disagree lol. Don't mind different people having different views the world would be boring otherwise but it seems some people are only interested in the doom and gloom scenarios and only post in those circumstances.

[calio 688]

You're gonna get bullied mate! A good point nonetheless.

Aye I probably will, but just as Super said the other week `I get worse in the house`

Fuckin Reb patter is for rat catchers anyhow

[SteveJ 743]

It's an absolute disgrace that money from the IPO was used to buy Albion Car Park and Edminston House, for around £4m and now we have secured a £1.5m loan with both. So if we default, we lose £4m of property.

What next? Take a loan for £5m and secure it with Ibrox?

The Metro bank loan facility might have had a higher than normal interest rate but Stockbridge told us it was an unsecured facility.