Dragonfly Trumpeter

1 hour ago, bmck said:

You may not have raised it, but it is nonetheless relevant. Particularly in the pricing of shares.

 

I wasn't questioning it - you've needlesly got caught up on the word 'think' (though I actually said 'feel') As I said in the very first sentence, I don't know the ins and outs, I'll defer to your judgement. I didn't question the truth of it in the slightest, it was a complete concession.

 

Still, it's a factor a wise investor takes into account when buying shares. But we're buying them out of love, which is a very strong motivator.  They're clearly exploiting that; it's clearly working.

 

I'm just trying to highlight that it's a two way street: they have fiduciary duties as Directors, and you have rights as a shareholder to hold them accountable. if people are not happy with how things are going, as shareholders, they have remedies and should use them if they have any reservations like those you mentioned.

 

To me there is no more contention to be had here. It feels like you're trying to rekindle a debate that was settled in your favour, which is poor form.

I never raised fiduciary duty, it was yourself who did that (in a response to my post) whether you know the ins and outs or not. I have no doubt it has no relevance in this matter. You then took it further and again in this post saying "you have rights as a shareholder to hold them accountable." Again, there is nothing re fiduciary care of duty to hold them accountable for.  Your point that we are not wise investors but emotionally tied is not in doubt. And certainly not to the directors either.

I did not see this as a debate settled in anyone's favour, nor should it be. But given that the current Tesco share price and the Tesco share price 40 years ago compared to RIFC share dealings in the last 18 months and in particular the last 2 weeks is an anolgy that holds for you, it is a debate that ends here.

But it has been interesting, thanks. 

25 minutes ago, bmck said:

I don't know the ins and outs like you do, so I'll defer to your knowledge. However, as a shareholder, and an even bigger one now, good on you sir, if you feel a director is in breach of thei fiduciary duty - like selling at minimum price to their pals - there are remedies for that. You're essentially spot on. They're under a legal duty to essential maximise investment return. However, within that there's scope for judgement. There's scope for medium term losses for longer term gains, they have latitude. What I'm saynig is that not selling it for the price noted seems to me to align with what what you would expect of small investments.

 

P.S Apologies for the multiple posts, hopefully someone got to it and tidied it up - supposed to have new internet today, decided not to turn on.

I thought I was done in this thread but feel it is important to say I did not raise fiducuary duty in this thread and, after it was mentioned, I clearly said that in my opinion it was not relevant with this share issue.

So now that I am replying again, I do not think they issued shares to themselves and their buddies at a long settled price and about a week later charged the support a 25% premium, I know they did. The directors went to great lengths to make that abundantly clear, the facts do not lie. Okay, it took around 230 million shares changing hands in a relatively short time before they realised the situation, added the significant price increase and the offer to supporters was perhaps just down to timing lol.

Regardless, they can say they got it right because I happily parted with £1000 to support and help my club. As did many others amongst our support.

5 minutes ago, Bill said:

Your Tesco / Rangers anaolgy effort is clear, no need to quote and remind me. But because you are ignoring the posted facts explaining why this share issue is an anomaly, can you please explain what you mean with your posted gif?

Thanks. 

1 hour ago, the gunslinger said:

but they already own rangers. I think your analogy is way off. 

 

perhaps my fault though. What i meant was they didn't bump up the price when they were converting loans last month. 

 

Correct. Over half of all existing RIFC shares were basically issued in the last 18 months, all at exactly the same price. Totally consistent up until the last issue, a mere 10 days before this one. So no need to go back a month or even some folks preferred 40 years.  

Kudos for their business acumen and playing the punters.  Fiduciary duty and the price of milk in Tesco 40 years ago do not matter.  The support was fleeced because they knew we would pay it, simple.

2 hours ago, Bill said:

If only I’d known that the price of Rangers shares must always stay the same, I’d never have bought any. Imagine not being able to buy new shares in Tesco at the same price they were offered at 40 years ago. Thank God everyone is free not to buy shares if they’re unhappy with the price. 

If you think this scenario of Rangers fans being offered shares in the company at a 25% premium on what a Rangers fans group were allocated 10 days ago is the same as Tesco share values now and 40 years ago, fill your boots. Tesco is over 100 years old as well btw, you could have achieved a more dramatic effect.  Who said share prices should always stay the same anyway?  The value of shares can go up as well as down. 

Nobody is under any illusion about share prices and company values.  I have commented on it yet happily gave RIFC £1000 yesterday for the obvious reason.  It does not mean I have to agree with it and, on this occasion, I think the board called it wrong. But we are certainly free to (or not to) buy shares if we want.  And fwiw, I do not own shares in Tesco. 

That the best you could do was a ridiculous comparison between a supermarket behemoth and our footballing institution, along with all that they entail, explains a lot though.  Thanks for that.

2 hours ago, Frankie said:

Not a bad first round of fixtures at all for Rangers at the start of season 2021/22.

 

Livi at home is an ideal sighter and, by the time we've played Celtic at the end of August, there's no reason not to have made the perfect start. Bring on the end of July!

It is a disaster, the chances of my backside being on my ST seat during the last weekend in August are virtually none.  The 1st Aberdeen game at Ibrox looks like a no for me as well.  I will make a number of games against the dross though.

14 hours ago, bmck said:

People seem to think that companies have the choice to be benign and generous. They don't. As Bill says, it's their fiduciary duty as Directors acting in the interests of existing shareholders to maximise whatever gains can be made. There's also the issue of scale. To get the deal on the shares the directors paid they had to contribute across a certain threshold. It's basic economics and company management. If they sold shares at cost their shareholders could reasonably sue them.

On 01/06/2021 at 13:08, Bill said:

You don't plan to allot £6.75m worth of shares on the open market unless you have a very good idea that the offering won't fail. If I were to guess it would be that a significant portion of these shares is going to be guaranteed by a new major investor. Not only are the existing main shareholders unlikely to dig much deeper but the board must recognise the need to start succession planning. 

 

What remains to be seen is the offer price and therefore the number of shares to be placed. It may be a consistent 20p but it might also reflect the greatly improving prospects for the club and land at 25p or 30p, which would tend to inflate the value of existing shares too. 

Given the level for the heavy-hitters previously, I am not sure if pricing this issue for fans at higher than 20p would be seen as a wee bit off or taking the piss. But I am also realistic, given where we are as a club now with 55 done and the CL options immediately ahead. My intention is to put in £1500 tomorrow but if it is 30p, I may be swayed towards the piss take view to be honest.

Not staunch, I know, but I could easily think of something else to spend it on and stick on my current tiny shareholding and our name checks in Edmiston house.

So they will probably go for 25p and cause me some thought lol. I used to be indecisive, now I am not so sure ?

4 hours ago, Gonzo79 said:

If an EPL side comes in and offers a player £75k a year why on Earth would he stay here?

 

The board have already told us the club model - buy low, sell high.  

Aye, if only we could match them and pay our main players £75k a year as well ?

1 hour ago, BlackSocksRedTops said:

Random observation...This signing has got me thinking about the timing of these announcements. Sorry to refer to the dark side but I wonder if they are delaying their managerial announcement to coincide with us lifting the trophy? Wouldn't put it past them. 

 

Anyhoo....Welcome to the champions Fashion!! 

More chance they are delaying their managerial announcement because nobody half decent wants the job at such a basket case club...

6 hours ago, 26th of foot said:

Later in the week, I will do a more substantial post on today's broadcast utterances from PQ.

 

Suffice to say, Liam McLeod commentating from a screen in a PQ office made a complete ham shank of the game. It took him several minutes to realise McGregor had been red carded. He explained that he was NOT in the Stadium and thus could not be responsible for missing the dismissal. His accompanying Posse of fellow Dandies and Yahoos missed it too, because they all had their heads in their hands. Of course, the priority was filling car spaces for the drive to Erskine Bridge, all understandable.

 

Anyways, at half time, we were no longer playing ra Sellik. Liam gave the half time report and score as, "Rangers two, ten man Celtic one". This continued throughout the second half. The empirical evidence suggests Liam is a thirty 'ten man Celtic' a day man. Oh and Liam thought 'ten man Celtic' were deserving of more goals? I wonder if Liam's commentary will survive on to tonight's Sportscene?  

Liam the sheep's commentary did not survive but, absolutely, ten man celtic deserved more goals. That Sportscene offering reached desperate levels - even for that rancid organisation.

Their pain is very satisfying though.

I can be a bit critical of Ryan Kent at times, often feeling we do not get enough out of him for the ability he has.

Today we got it in spades, comfortably man of the match for me.

I paid both of ours for 2 seasons last year, don't see that option in the poll ?

A heavy financial hit but it is our club.

2 hours ago, Frankie said:

Very happy with a draw there as, despite some decent play in the second half, we didn't play very well in possession and seemed to lack shape at times: mainly down to all our midfield three struggling for long periods: though Aribo improved when moved further forward.

 

They're a good team but I think we showed them too much respect for too long and it wasn't until we showed a bit more intent ourselves that we started to carry a proper threat.

 

That away goal could be crucial but I've no doubt we'll need to score at least once next Thursday in any case.

If you are in no doubt we'll need to score at least once next Thursday, then we need to score at least 2. 

However, I will accept the 0 0 that would see us not scoring but getting through ?

"Morelos ensures Rangers avoid the traditional January wobble" is fair enough if tradition covers a couple of years.

Rangers, traditionally, were strong league performers when winter came around and the first 2 or 3 month period of the new year was often our best spell in league campaigns.

Very considerate of Mr Kamara, saves Frankie the hassle of posting a motm thread. A stunning performance in a strong team showing.

Very comfortable for Rangers really, even though I was nervous as hell for the last 10 mins simply because we were not out of sight.

I couldn't decide between McGregor and McGregor. But I think Callum should get it for his vital contribution and fulfilling his boyhood dreams.

So I voted McGregor.

56 minutes ago, the gunslinger said:

he is right 

He certainly is, assurances are in order. Don't let players go to the boozer in groups of 8 whilst on Scotland duty and declare Ash Taylor's wife a good looking woman.

That should keep him happy.

Kamara for me. Barisic did some wonderful stuff during the game but he was caught so far out of position a few times (without cover) and could have cost us big time.

Infant kits are now available, sizes 2-3 & 3-4 years.  Still a wee gap until small boys so not all youngsters are covered, but it will help some folk out.

https://shop.rangers.co.uk/collections/home-kit/products/rangers-home-full-kit-toddler-playing-kit

4 hours ago, 26th of foot said:

Do the Club read Gersnet?

 

I have long thought all supporters' forums are monitored by respective clubs. 

 

Along with others, I have conducted a schimf(military slang/patois for constant moaning) reference club admin' reference season tickets, and the benefits there of. Get a bit sarky on Monday and my Rangers TV access code pops into my inbox this morning.

 

The power of Gersnet!

The club do not give a shit, the only shit they give is the shit service to the support - after we have paid our cash.

I also got a Rangers TV access code today, they even managed to drop the "friendlies" out of the bog standard email that all other ST holders received over a week ago.  No doubt because they missed them, we were an afterthought and probably due to someone finally reading the messageboards as you mentioned.  But I honestly did not think they would go to the bother of altering the email text, kudos to the club!

But it did come a day after their begging letter.  Perhaps they felt guilty but rest assured, we will not be taken for granted lol.  The way forward may be to not claim any refunds and simply tell them it is because they put VIP in the email?  That would reassure them re their overall competence and client relations.

"Clients that are in a position to allow outstanding funds to remain within the club will be providing a hugely beneficial level of support which will be greatly appreciated, especially in the current challenging economic environment. The opportunity to work together during this unprecedented time will have a positive impact upon the club and will not be taken for granted."

Refunds will be issued on a monthly basis, for example:

August 2020                   Refunds for the two home fixtures in July and then fixtures in August 2020

September 2020            Refunds issued at the end of September 2020

October 2020                 Refunds issued at the end of October 2020

3 hours ago, Bluedell said:

Is it because you're "hospitality" now and not season ticket holders that you didn't get the code? 

There are certainly no reasons I can think of why they have not done what was promised and due, we paid our money up front for 2 seasons.

But the lack of a RTV code for the punters is minor and the least of their worries. 

4 hours ago, 26th of foot said:

I decided to renew my Bar'72, now Club'72 season ticket for two seasons. Further, I took out a MyGers VIP membership. It was a fight to give the Club the best part of £4 grand. I have no beef with either of the girls appointed to deal with the newly branded hospitality, they were both helpful and patient.

 

My seat, which I have sat in since the start of Bar'72, is on the halfway line. I knew by renewing for two seasons, I was being an awkward embuggerance, deliberately so. The corporate wallahs want banks of several seats, and they want the better ones. So, you receive the call from a senior administrator at the club, asking for a chat. No names, no pack drill and all that; I tell him no chat required, quite comfortable. Although, given all I have been promised, where is my Rangers TV code, and, the MyGers welcome pack, and my my Lanyard?

 

I explain, I have formed the Lanyard Loyal RSC  and have been appointed Chair of said club. I cannot be seen to Chair meetings without wearing my Lanyard. It's an affront to my dignity. I am told the club don't do satire. If I could be bothered, I would have asked what do the club do? Instead, I returned my telephone to it's receiver.

 

I am forming a new club, 'the No Rangers TV Code, reduced to viewing illegal streams Loyal RSC'. Catchy I know, I wouldn't be surprised if I am appointed Chair.

 

Before any Gersnetter gives me grief, please keep in mind, they started it. I too, would welcome a return to the cosy atmosphere provided by, "the finest modulated build facility"(Martin Bain) ie the Ticket Office Portakabin.

I have also been in B72 from day 1 and the 3 year sub to pay for it.  And your piss-take is excellent, only surpassed by some Rangers FC staff.   I am, however, glad your ongoing experience is excellent. 

I sent you a pm.

On 22/07/2020 at 18:00, gaspard said:

Still waiting for access code along with others in bar72

 

Useless and incompetent 

Sadly, I think useless and incompetent does not even come close to covering the absolute shambles that is Rangers hospitality.

 As promised, season ticket holders will be provided with complimentary access to both pre-season friendlies via RangersTV as well as all SPFL Premiership home league games whilst we play behind closed doors. 

They missed out "Not" at the start of that, the latest in a line of failures from the hospitality staff.  £6.5k for a pair of tickets and no communication re games.  Do they expect us to beg for a tv code?

Hopefully they get even more pissed off with us and fire us back to the ticket shed staff for service.  That would be good.

An email in today, I see Rangers have decided to be flexible now, with a week to go until the B72 renewal deadline. I wonder why that is...