BrahimHemdani
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Everything posted by BrahimHemdani
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Greed? Or perhaps his intended buyer wouldn't pay what he wanted?
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If memory serves me I think it was £50,000 in total on a £200,000 loan rather than £50,000 a week; but daylight robbery nonetheless.
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I think it's fairly clear that most of our current "investors" are looking for a short term gain rather than long term appreciation. Therefore I would think that they would want us to win each league with as low a cost base as possible and will take the same view as Wallace namely that there is time enough to put together a better team progressively as we rise up the leagues. This might be where investment sense and football sense depart. As to your current employment prospects, I think you are to be commended for looking at any opportunity and beyond that whatever you might think, I really couldn't say.............
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Very succinctly put if I may say. The only one I might possibly disagree with is (g) because any attempt at cost cutting and dare I say cutting our cloth to suit the league we are in will be appreciated by investors; but otherwise I'd say you are spot on.
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Doing my best, thank you very much; however there are a few others as well such as FS and Zappa trying his best to keep me on the straight and narrow.
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Understood and there are one or two obvious ones today but there are also some quite insightful comments (like the stuff about Wallace at Man City). I guess it's just sorting out the wheat from the chaff.
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What worries me most about the share price is that over the last 3 months it's halved in a straight line down from 48p to 24p (excluding the late reported 20.5p which just makes it worse and shows that anyone selling in any volume is going to get hammered) and on a day to day basis sellers far outnumber buyers e.g. today 477,717 sold 24,439 bought. Stock markets usually anticipate events they don't usually react to them (unless they are far different from expectations). To summarise what I wrote a recently, the share price is based on the future profitability of the Club and investors will take a view based on their assumptions about events that will influence that future profitability. Whilst a lot of these assumptions will be sporting, others will be based on their confidence or otherwise in the CEO and the Board to get the (cost cutting/ revenue increasing) job done. Right now it doesn't look as if that confidence is very high.
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150,000 sale this morning at 27p and another 200,000 just gone at 26p.
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Quite so and the rest is someone's analysis and they do have previous as I have posted. They are not in there for the good of their health.
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Noted but I think I managed to avoid the worst of it. For example the modus operandi suggested in #187 sounds realistic to me.
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This worrying precis was posted on the LSE chat yesterday: " The target investments were funds with market caps below £100 million. These would be encouraged to “optimise their balance sheets” and “align management and shareholder interests”. The plan was to make declarable holdings (above 3%) in these stocks and, differentiating themselves from similar funds, they could acquire controlling stakes – a benefit of listing on the SFM. This also allowed them boost their firepower by making investments through special purpose vehicles which could be up to 100% leveraged. The fund itself is permitted to gear up to 15%. To date they have returned 48p per share and the NAV is around 62p per share so they have made money for shareholders but they are a little behind their performance fee target. The shares are trading around asset value." N.B. this phrase "These would be encouraged to “optimise their balance sheets” and “align management and shareholder interests” Damille expects returns within a 2 to 4 year window. I can only see this being achieved at TRIFC via property deals." Not exactly very encouraging.
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Old Mutual mentioned as a buyer alongside Damille II on the LSE chat; may not be accurate of course.
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Another interesing post from the LSE Chat He was only at Manchester City for 4 years and I would question how impressive that was. He oversaw a record loss of £197m in one year (2010-2011) - according to Guardian the wage bill was £21m higher than the total revenue! He did say at the time "Our losses...will not be repeated on this scale in the future", which was true. Man City only lost £97m the following year. They lost £121m the year (Wallace's first with the football club. Any football club in fact, having joined from a sports media company). So in summary, in the 3 years of his entire career running a football club, where accounts are available, Wallace oversaw a losses of £415m. I anticipate that when Citeh announce their most recent results shortly, they will also have incurred a loss. Now it is of course the case that Shiekh Mansoor was willing to wear those losses to fasttrack Manchester City's route to the top of the league (where, I am sure, their fans believe they belong) but I'm not sure any of this indicates "an impressive background in running a football club", rather it is more like the "fantasy football" games in the newspapers. Can he make cuts when needed? No evidence of that yet.
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Quite so Andy, presumably they mean "and proven experience" And perhaps "trustworthiness" would be better but why include that as a criteria, surely you would have to be considered trustworthy above all else to get a job. You can go for an interview and say you are flexible, for example, and your enthusiasm may or may not be evident, but trustworthiness is objective, you are either trustworthy or you are not, which would be a matter of taking up references. Rangers Interviewer - Are you trustworthy Mr Whyte? Whyte - No I'm not and I don't have any references; but I'd like the job anyway because I'm very enthusiastic and willing to work flexible hours.
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Interesting comment from LSE Chat You can hardly blame guys like Lewis Macloed on £800pw who is doing more than any board member to keep money flowing into the club, to consider a pay cut when the spivs are taking no hits and expensive duds earning 6x his salary are nothing more than bench warmers.
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Not on their own or with their current holding; but they could build that up (which we'll know as they have to report each additional 1%) or could persuade others to their point of view.. One thing is for sure, they are not there with the long term interests of RFC at heart.
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Yes, which made it notifiable.
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Not so far as I am aware. You need 5% to call a general meeting and if you have 25% you can block special resolutions e.g. change the company name etc. You need 50% + 1 to ensure that you carry an ordinary resoltion e.g. appoint or remove directors. At 75% you can do pretty much anything. I think I am correct in saying that providing a director or the Board acts within the law and with due care and diligence etc they can buy and sell any company assets including property but there is a restriction on ‘substantial property transactions’ which are defined as a value of more than £100,000 or 10 per cent of the company’s net asset value as shown in its last accounts; would need shareholder approval, although this refers to sales to or from a director and I'm not sure if it applies in other circumstances which might depend on the articles. Regardless, I very much doubt if even this Board would attempt to sell the stadium or training ground without shareholder approval but then as we have seen the major shareholders support the Board. Sale and Leaseback I doubt would require approval but I may be wrong.
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Quite so, hopefully not more like Damille but it wouldn't be a big surprise.
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I have absolutely no evidence for this but it's not a great stretch of the imagination to assume that Hughes knows Miller and Davies and/or has dealt with them in the past and did a deal behind the scenes to sell his shares at the lowest price he would take (and realise c. £500,000) and the highest price Miller and Davies would pay (let's guess at 22p-24p); and the "market maker" gets the few pence turn for his trouble which could easliy amount to £50,000+. Either that or the market maker knew that they were the kind of people who would be interested in a quick turnaround and profit.
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Meanwhile back at the ranch http://www.rangers.co.uk/club/recruitment/jobs/item/5977-match-day-staff-%E2%80%93-ticket-centre-zero-hours-x6 We are currently seeking six dynamic and professional Match Day Ticket Operation Administrators to join the Ticket Centre Team based at Ibrox Stadium, reporting to the Ticket Operations Manager on a zero hours basis. The purpose of this role is to provide an all-round administration and customer service to assist the smooth running of the Ticket Operations Department during match days. The successful candidate will have strong customer service skills along with proven experience within a similar role would be desirable. A sound knowledge of Microsoft Office (Word, Excel and Outlook) along with Talent ticketing system knowledge would be an advantage. Commitment, flexibility, trustworthy and enthusiasm are also a must. Please note that as this role is zero hours, there is no guarantee of shifts.
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http://www.dailyrecord.co.uk/sport/football/football-news/guernsey-based-hedge-fund-damille-investments-3027112 Guernsey-based hedge fund Damille Investments Ltd buy three per cent stake in Rangers 16 Jan 2014 07:22 IT'S understood the firm bought the holding from Richard Hughes of Zeus Capital who was a key player behind Charles Green’s takeover in May 2012. Getty Images A GUERNSEY-BASED hedge fund group have snapped up more than three per cent of Rangers. The company – described as a turnaround specialist – is headed up by two executives, Brett Miller and Rhys Davies, and promises to “optimise balance sheets and align management and shareholder interests”. This from 2009. http://www.independent.co.uk/news/business/analysis-and-features/lonrhos-bitter-battle-to-retain-the-heart-of-its-african-empire-1742392.html Lonrho's bitter battle to retain the heart of its African empire The situation has been muddied by Damille's decision last month to sell most of its stake. The Damille board nominees, Brett Miller and Rhys Davies, have withdrawn, although they are still formally on the ticket. The decision to sell up has angered AMB. Sprague says lawyers are reviewing an alleged agreement between the two that Damille would not sell up until after the EGM. Miller counters: "There was no agreement between Damille and AMB about not selling any shares prior to an EGM or at any time. Damille is purely a financial investor, and the share value had increased by over 100 per cent on what the shares had cost Damille." Rhys Cathan Davies (Executive Director) Rhys is a General Partner of Damille Partners, which he established in October 2008 with Brett Miller (with each holding a 50 per cent. partnership interest). Rhys is also an Executive Director of Damille Partners Limited. Rhys also presently serves as the Non-Executive Chairman of Rapid Realisations Limited, an AIM quoted Guernsey registered investment company, and EIH plc, an AIM quoted Isle of Man registered investment company. Rhys also presently serves as the Executive Chairman of China Growth Opportunities Limited, an AIM quoted Guernsey registered investment company. Rhys holds degrees from the University of Wales, Cardiff, and Imperial College, London, as well as the CFA designation. Brett Lance Miller (Executive Director) Brett is a General Partner of Damille Partners, which he established in October 2008 with Rhys Davies (with each holding a 50 per cent. partnership interest). Brett is also an Executive Director of Damille Partners Limited. Brett also presently serves as a Non-Executive Director of Rapid Realisations Limited, an AIM quoted Guernsey registered investment company, and EIH plc, an AIM quoted Isle of Man registered investment company. Brett also presently serves as Executive Director of China Growth Opportunities Limited, an AIM quoted Guernsey registered investment company in which Damille Partners holds a 10.2 per cent. interest. In addition, Brett is a Non-Executive Director of Pactolus Hungarian Property PLC, an AIM quoted property fund, as well as serving as the Non-Executive Chairman of Globo PLC, an AIM quoted IT services provider. EGM requisition at Rapid Realisations Date: Friday 11 Jun 2010 LONDON (ShareCast) - Damille Investments, which acquired 10m shares in Rapid Realisations Fund Ltd at the end of May, has requisitioned an EGM at the AIM-quoted investment company. Damille wants Rhys Davies and Brett Miller appointed to the board and for the investing strategy of the company to be changed so that assets are realised. Davies and Miller, who are directors of Damille, were appointed to the EIH board last month to carry out the same strategy at the AIM-quoted, India-focused investment company. They are already carrying out a realisation strategy at AIM-quoted China Growth Opportunities Ltd. The new policy would “maximise the return of invested capital to shareholders during the period ending on 30 September 2013” and Rapid will not make any new investments. God help us now.
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Allegedly half and half again total of approx £1.5m; which makes it strange that neither has taken a cut because if correct it would mean that McCoist and McDowall were now on more or less the same. Maybe they can only afford a 15% cut?
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Thanks for clarifying. So it's not really a deferral as most people would understand it; rather a temporary pay cut?
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Deferred until when and do you know if McDowall and Durrant have taken the same % cut or deferral?
