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Investment in weeks, allegedly (nowt to do with shifting season tickets)


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Under-fire Rangers chairman Dave King will finally comply next week with a court ruling ordering him to make an offer to buy the club's remaining shares.

The South Africa-based businessman lost two hearings in the Court of Session after the Takeover Panel took action following its assertion that he had acted in "concert" with three other stakeholders when he launched his Ibrox boardroom coup in March 2015.

King now has until next Thursday to contact shareholders with an offer to buy up the rest of the remaining two-thirds of the club's equity at 20 pence per share and Press Association Sport understands plans to distribute the offer document are now in place.

Read more: Rangers pair still in dark over futures 72 hours on as circumstances of bust-up emerge

If fully subscribed, King could be faced with a bill for £10.75million. But club officials are not expecting a major take-up, with shares in Rangers International Football Club PLC - which trade on JP Jenkins, a secondary market platform for "unlisted" companies - currently selling at 27.5p pence per share.

King will use funds from a company owned by one of his family trusts to finance the offer.

Press Association Sport also understands that a planned share issue that will allow King and his fellow investors to convert loans handed to the club into shares, as well as potentially generating fresh finance, will take place "within weeks, rather than months".

 

The share issue will take place in the wake of Sunday's humiliating 4-0 defeat by bitter rivals celtic, with boardroom decisions and performances coming into sharp focus.

Meanwhile, Rangers are expected to confirm a new kit deal with Danish sportswear firm Hummel in the coming days.

A three-year agreement has been struck, with sources close to the club suggesting it will generate "two to three times" the sums produced by their present arrangement with suppliers Puma.

orange&blue92 likes this
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23 minutes ago, backup said:

Under-fire Rangers chairman Dave King will finally comply next week with a court ruling ordering him to make an offer to buy the club's remaining shares.

The South Africa-based businessman lost two hearings in the Court of Session after the Takeover Panel took action following its assertion that he had acted in "concert" with three other stakeholders when he launched his Ibrox boardroom coup in March 2015.

King now has until next Thursday to contact shareholders with an offer to buy up the rest of the remaining two-thirds of the club's equity at 20 pence per share and Press Association Sport understands plans to distribute the offer document are now in place.

Read more: Rangers pair still in dark over futures 72 hours on as circumstances of bust-up emerge

If fully subscribed, King could be faced with a bill for £10.75million. But club officials are not expecting a major take-up, with shares in Rangers International Football Club PLC - which trade on JP Jenkins, a secondary market platform for "unlisted" companies - currently selling at 27.5p pence per share.

King will use funds from a company owned by one of his family trusts to finance the offer.

Press Association Sport also understands that a planned share issue that will allow King and his fellow investors to convert loans handed to the club into shares, as well as potentially generating fresh finance, will take place "within weeks, rather than months".

 

The share issue will take place in the wake of Sunday's humiliating 4-0 defeat by bitter rivals celtic, with boardroom decisions and performances coming into sharp focus.

Meanwhile, Rangers are expected to confirm a new kit deal with Danish sportswear firm Hummel in the coming days.

A three-year agreement has been struck, with sources close to the club suggesting it will generate "two to three times" the sums produced by their present arrangement with suppliers Puma.

Good news in respect of King finally complying with the share offer as this must be completed for sounder future foundations to be built upon than whats there presently and for longer term investment to materialise with the aim of on the park success.

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Correct me if I am wrong not clued up that much, but isn't king making an offer to buy shares held by other people? So why would the money go to the club, if I owned shares in Rangers and King offered to buy them from me, the money would go to me? This makes no sense. The club doesn't get anything??

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6 minutes ago, Jonathan1872 said:

Correct me if I am wrong not clued up that much, but isn't king making an offer to buy shares held by other people? So why would the money go to the club, if I owned shares in Rangers and King offered to buy them from me, the money would go to me? This makes no sense. The club doesn't get anything??

The investment referred to a subsequent share issue. How much that raises and Then how much goes to pay off loans is the big question.

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10 minutes ago, bornabear said:

"Two or three times" say sources close to the Club.

It's either two times or three times, therefore PA Sports are guessing as there are no sources or it's Mini guessing as he is fucking useless when it comes to numbers.

if it's x3 it's £900K over 3 years.

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5 minutes ago, K.A.I said:

Can’t get excited at that as their idea of fresh investment is a couple of million here and there to sign guys from Hamilton and the like - nowhere near good enough

the fresh investment that will get me excited is 20 million upfront given to a capable manager to spend - anything less is pissing in the wind and set us back even more 

Likewise. King always plays it close to the chest with plenty of words and little specifics, to serve his purpose whatever the fuck that is.

However, it's not like King/T3B are exactly pratted, you'd think between them they make the leap of faith and actually invest 20 mil up front, because for me that's what will bring the title and generate improved riches for the them to get their ROI.

I just don't get their strategy of drip feeding loans and throwing away good money after bad on loads of very average players year on year. Boils my piss on the money wasted.

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