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BrahimHemdani

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Everything posted by BrahimHemdani

  1. BrahimHemdani
    Do you have a list of the current committee members?
  2. BrahimHemdani
    I believe I may have seen him holding up a banner at the end. So one has to assume that he personally is not in favour of a boycott or he believes that it is in order for him to attend in order to hold up the banner or otherwise protest against the board. I get the impression that the majority are telling him they "want to go and see their team regardless of who is running the club and what is going on. " Wouldn't it be better for them to continue their peaceful protests outside and inside the stadium with red cards or whatever at the same time as encouraging all fans to go along to support the Club and the team?
  3. BrahimHemdani
    Then he knows nothing about football and football players.
  4. BrahimHemdani
    I don't doubt for a minute that there has been such a dialogue but has anyone or can anyone vouch for the authenticity of the list of questions under Mr McCormick's name. Some of the English is pretty poor as is the punctuation and spacing. Has anyone seen it on letterhead for example?
  5. BrahimHemdani
    Also Durrant's I believe and not that its relevant now but also Martin Bain.
  6. BrahimHemdani
    At least from Alloa.
  7. BrahimHemdani
    I agree. I suggested 10p-12.5p earlier in the thread.
  8. BrahimHemdani
    NO, dreadful for the Club.
  9. BrahimHemdani
    Don't forget to pay for the dinner before you get too busy or go on holiday!
  10. BrahimHemdani
    Small sales at 17p and 18p, dreadful.
  11. BrahimHemdani
    Annoyed at getting caught TBH; it's usually me who pulls strokes like that, but I have to commend you it was very well done. Don't worry I'll find a way to get my own back.
  12. BrahimHemdani
    You could have had 100% of the salty Bovril at Kirkcaldy but I get to keep the steak pies.
  13. BrahimHemdani
    Remember to spell your FGS name correctly or face the mandatory 10 point deduction from the sponsors
  14. BrahimHemdani
    Children, please. The Takeover Panel requires anyone building a stake in a target company to make a mandatory bid once they have acquired more than 29.9% of a company’s share capital; this is because the Panel deems it to have effective control. The mandatory bid must be at the highest price at which they purchased shares over the last 12 months. I believe the 90% reference is to the fact that if at any point along the way the predator acquires acceptances of 90% or more, it has the option to invoke compulsory purchase procedures for the remaining minority of shares.
  15. BrahimHemdani
    That was more or less how the original RST/Gersave Scheme worked.
  16. BrahimHemdani
    It was inevitable that the price would fall below 20p; Club now valued at £12.5m.
  17. BrahimHemdani
    That might get you to 5% within a year IF there were willing sellers at say 25p/share but honestly is 8,000 realistic. Even after there recent push, RF only "have around 1200 confirmed members with over 400 pending"; how many of the 2,556 RST members are paying monthly into the RST/BR? My guess is that the total of the two schemes is well under 2,000 and probably £20,000 or so a month. That isn't going to get the job done.
  18. BrahimHemdani
    Fan influence is a realistic objective in the medium term, fan ownership is indeed a pipedream.
  19. BrahimHemdani
    That's how Portsmouth did it but who are these "wealthy individuals who care about the club" and where are they hiding?
  20. BrahimHemdani
    Done, with 5 minutes to spare and apologies again for the late kick off.
  21. BrahimHemdani
    No worries, Zappa, it wasn't intended as criticism for starting the thread; it was agreement with your action. Probably around midnight.
  22. BrahimHemdani
    Just back in Zappa, I see you've started the thread. I've written 250 words earlier, I'll try to get it finshed tonight.
  23. BrahimHemdani
    Zappa, I've had a busy day, lost nearly an hour replying to T4C and off to see David Hayman in the Pitiless Storm tonight. I've made a start on this but it won't be up tonight. I'll finish it by lunch time tomorrow hopefully. Apologies.
  24. BrahimHemdani
    I think you've been reading my mind for the match preview!
  25. BrahimHemdani
    INTERIM RESULTS FOR THE SIX MONTH PERIOD TO 31 DECEMBER 2013 In implementing a professional basis for managing the Club, it remains a significant concern that external comment and ill-informed opinion continues to create uncertainty with regard to future income and cash flows. In particular, recent public comments suggesting season ticket holders divert payment away from the Club has caused a level of uncertainty over the timing and quantum of season ticket cash flowing into the Club, which as with many other football clubs, is Rangers' primary source of income. If this were to happen then there would be a negative impact on short-term cash balances and it is possible that the Club may need to seek alternative additional short term financing. This clearly would not be in the best interests of Rangers and would likely have a significant impact on our ability to progress the development of the Club in the planned manner. This possibility results in the existence of a material uncertainty which may cast doubt about Rangers' ability to continue as a going concern and therefore that the Company may be unable to realise its assets and discharge its liabilities in the normal course of business. Nevertheless, after making the appropriate enquiries and considering the uncertainties referred to above, the directors have concluded that there is a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the Interim results. The implication of the highlighted section in the second paragraph vis a vis the earlier paragraph relating to income from season ticket sales is that after making due enquiry the directors decided to "continue to adopt the going concern basis in preparing the Interim results." i.e. that ST sales would be sufficient for that purpose. I posted at the time and several times subsequently that I did not understand what enquiries the directors could make that would allow them to forecast that notwithstanding the uncertainties referred to they were still of the opinion that the club could operate as a going concern. In other words how could they make the forecast below given the existence of the said uncertainties Note 2 (ceteris paribus) The forecasts make key assumptions, based on information available to the Directors, around: • Season ticket sales - the biggest single source of income. The critical assumptions made are o the timing of season ticket renewals in line with the Club's historic experience before the turbulent events of recent seasons; o Progressive increases in season ticket prices as the club moves towards the Scottish Premiership, while still remaining below those when the Club was previously in the SPL; o Modest increases in season ticket numbers for 2014/15 and beyond; and o Sensitivity analysis has been applied to the volume and timing of the season ticket income received, and under these more pessimistic assumptions the Group would continue to operate with positive cash balances. The auditors said: In arriving at our review conclusion, which is not qualified, we have considered the adequacy of the disclosures in note 2 to the condensed set of financial statements in the half yearly report for the six months ending 31 December 2013 concerning the Company's ability to continue as a going concern. The Company has made key assumptions in relation to the timing of season ticket monies, the volume and pricing of season ticket sales, increase in matchday income and sponsorship, the timing and value of dividends from Rangers Retail Limited and further cost reductions. This condition relating to the timing of receipt of season ticket monies, along with the details provided in note 2 to the condensed set of financial statements, indicate the existence of a material uncertainty which may cast significant doubt about the Company's ability to continue as a going concern and therefore that the Company may be unable to realise its assets and discharge its liabilities in the normal course of business. The financial statements do not include the adjustments that would result if the Company was unable to continue as a going concern. In other words whilst the auditors considered that there was "material uncertainty" they accepted the directors opinion that the company could continue to trade as a going concern and made no adjustments to the accounts in relation to that uncertainty. So what I am saying is that the auditors may not accept such enquires or statements again in the future and/or may not want to audit the books of a company whose directors make such ill founded assumptions. Lastly this is not a comment on the whys or wherefores of the ST debate. It is simply the case that I do not understand how the directors could forecast an increase in ST sales given the "public comments suggesting season ticket holders divert payment away from the Club". I hope the above helps you to understand the post to which you refer. Now I need to get on with the match preview for tomorrow night's match or I'll be in trouble with Zappa.
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