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Looks like 3.6 million shares were traded today or rather transferred , could this be in part payement for either outstanding loan
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THE displays of the Rangers team on the park last week were cause for optimism down Ibrox way. Ally McCoist's side netted 12 goals in their two competitive outings and put their shaky early-season form well and truly behind them. The size of the crowds in the home games against both Clyde and Dumbarton, however, were reasons to look towards the future with trepidation. And the attendance at the SPFL Championship fixture with Dumbarton on Saturday afternoon was particularly alarming. For the league meeting with the Sons was perhaps the best chance so far to gauge what the turnout will be like at Rangers home games in the 2014/15 campaign. The Petrofac Training Cup matches with Hibs and then Clyde were always going to attract smaller crowds due to the stature of the competition and the size of the opposition. Much was made of the fact that only 11,190 supporters filed through the turnstiles in the 8-1 victory in the latter game last Monday. It was the lowest Ibrox attendance at a competitive fixture for 29 years. Yet that encounter with part-time opponents from the bottom tier of Scottish football was - despite Gers great Barry Ferguson being in charge of the opposition - expected to draw that sort of response. There were 43,683 in the Championship opener against Hearts a fortnight ago. But there were special circumstances surrounding that fixture. The League One flag was unfurled and the Govan Stand was renamed in honour of Sandy Jardine before kick-off. Plus, the first game against age-old adversaries Hearts after two long seasons of often uninspiring outings against our national game's lesser lights was guaranteed to put a fair few bums on seats. No, the Dumbarton game at the weekend was a far better barometer of what size the attendances - and, in turn, the gate receipts -will be for Rangers in the weeks and months which lie ahead. And the fact that only 31,175 turned up on a perfect afternoon for football must be worrying for both those who follow the fortunes and those who control the purse-strings at the troubled Glasgow institution. It was the lowest turnout at a league game at Ibrox since 24,177 fans watched Rangers defeat Falkirk 4-0 thanks to a Robert Fleck double and goals from Davie Cooper and Terry Butcher on December 13, 1986. A home game against Methil minnows East Fife around this time last year drew 42,870. No company can have nearly a quarter of their customers disappear in the space of 12 months without drastic consequences. Even if all of the 34,000 fans who bought season tickets to see Rangers in League One last season had renewed this summer, the club would still not have had enough money to see them to the end of this term. So for just how long will the Light Blues be able to limp along with just over 20,000 season book holders and fewer than 10,000 turning up and paying at the gate on match days? There are ambitious plans for Rangers to hold another share offering in the very near future and the hope is to raise in the region of £4million of much-needed capital from that. But with shareholder Sandy Easdale and wealthy fan George Letham due to have loans totalling £1.5m repaid, financial experts have predicted that will only sustain the club until the end of the year. The ongoing lack of clarity over Rangers future off the field is overshadowing the fact that on it they appear to be getting their act together after some poor performances. They brushed aside Dumbarton with ease at the weekend thanks to strikes from Lee McCulloch, Darren McGregor and Nicky Clark. An own goal from Chris Turner aided their cause considerably. Bilel Mohsni, who was highly fortunate not to be red carded by referee Brian Colvin for his trip on Scott Agnew, also turned the ball into his net late on to give the sizeable travelling support a reason to cheer. That lapse of judgment by the Tunisian, though, could not wipe the smile from McCoist's face after a highly satisfactory performance by his charges from front to back. He said: "The skipper played in central midfield and chipped in with a goal, Nicky got a good goal and our right-back played well and scored a great goal. "To be scoring goals is always good. But to be scoring goals from different areas is an added bonus for us. "I was annoyed we didn't keep a clean sheet, but I thought the football was of a high standard. We created a lot of chances, scored four good goals, hit the post and had a goal disallowed. "It is consistency that is going to win us the league this year. That is what we have to work hard to get. "There are going to be a lot of difficult games for us in the months ahead and we have to be at our best every week." http://www.eveningtimes.co.uk/rangers/deserted-seats-show-reality-of-angry-rangers-fans-voting-with-their-177533n.25139848 -
I wonder if anyone knows what the current setup is regarding the contracts for catering and programmes. I know Azure have got a contract for catering, do they pay a licence fee and then they take all the match day takings, or do they pay a lower fee and the club gets a slice of the till receipts? Same with the programmes, does the club get a fixed fee so it doesn't matter how many they sell or is the clubs income from programme sales dependant on the number sold? Anyone?
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(Tom English – The Scotsman 25.11.2012) (Tom English - Twitter 21.08.2014) Its good to know that Tom English has found some sort of journalistic morality of late, however it may present a conflict of interests with his new employer, BBC Scotland. Or does the morality of source over story only apply in certain circumstances ? After all, Tom is now working for an employer who were happy to utilise not just stolen property, but stolen evidence from the Rangers Tax Tribunal, if Lord Nimmo Smith's conclusions are correct. But in his new found morality Tom has excluded himself from the knowledge that Vanguard Bears appear to have successfully cultivated a mole, perhaps within the SFA itself, as previous revelations, including documentary evidence, suggest. And could this latest expose, while perhaps lacking in documentary evidence, be a clear signpost to of a course of unedifying, unprofessional and negligent conduct involving our footballs higher echelons of administration ? Especially when viewed in the context of previous disclosed e-mails and agreements. Nope of course not – nothing to see here – move along please. But should we really be surprised ? After all there seems little excitement in journalistic circles that those in charge of Scottish Football were prepared to find Rangers guilty prior to trial as well as inflict draconian type punishments on a club which had yet to be found guilty. Morality ? Perhaps some of those journalists, and there have been many of late, who remind us of the impoverished state of our game via their daily columns, care to consider if perhaps they have a role to play. After all if the head of our game is more worried about being on time for a dinner date rather than what was probably one of the most critical meetings in the history of our game, is there not something fundamentally wrong ? What is particularly alarming in this whole episode are those gleefully re tweeting Tom English's original tweet. It does not matter that journalists will ignore story over source, it does not matter that it contains allegations of incompetence, of lack of prioritisation, of utter disdain for the game of football in Scotland (ironically affecting their own clubs) – so long as Rangers or Rangers fans get it in the neck - then that makes it okay. But let's not be too harsh on Stewart Regan – I’m told there is a certain restaurant in Leeds which does a succulent lamb to die for. It looks like football in Scotland will be the sacrificial lamb.
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Side splitting stuff,,,,, ......and back on the payroll!
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I sometimes wonder if the news HMRC intend to appeal the latest dismissal of their vendetta against Rangers causes any ripples in the Ibrox boardroom. After all it was another time, another regime with legal culpability squarely on the shoulders of Sir David Murray and his legal advisers. But not for us who are the Rangers support. For us it is part of a journey from hell, a journey which is not yet complete, with the scars and wounds endured on that journey show little sign of healing. Why is it that those who aspire to power within our club don't seem to feel the pain of such scars ? For years under the tenure of Sir David Murray many of us warned about the dangers of the “dignified silence” strategy. As lies were written and broadcast about both club and support Sir David Murray responded to our concerns with “If a newspaper offends you – don’t buy it” Our club and support have become the easy picking for hate filled individuals who appear to think that carrying an NUJ card offers them considerable immunity from lies, deceit and hate filled articles, many written without research or based in fact, or more concern, deliberately omitting facts in order to damage to our club. Why is it the defence of our club has been left to individual bloggers or groups such as Vanguard Bears, The RST or The Rangers Standard who appear to have the energy and passion to respond to unfair articles or decisions against our club ? Why is that same energy and passion not emanating from inside our club ? Have we honestly learned nothing in the last few years ? Its time those inside Ibrox, whoever that might be, became pro-active rather than occasionally reactive. If you are privileged enough to wear a Rangers blazer and tie – then that should be akin to a suit of armour - stand prepared to champion this club against all attacks. Jim McColl's alternative board missed a considerable trick at their question and session at the Hilton when asked about defending the club. Their fudged answer showed little desire or forethought, and was as bereft of ideas as those they sought to depose. Why cant these people get it ?? This issue is of vast importance to the Rangers support. We live, eat and breathe this club and every attack on her is borne personally by every single one of us. It's hard to understand why our club pays for PR, when we appear to be getting trodden on day in day out by the same individuals and organisations, operating with apparent impunity. Jim Traynor's “Gentlemen be very careful” is a dark and distant memory full of empty threats. In fact words without action appear to have exacerbated the problem. For all the criticism I have penned over the years about Charles Green, I will concede one point – at least he “got it”. He realised that defending this club, albeit his reasons were part of bigger plan and not altruistic, was a sure fire of winning over the support. How can it be a stranger can walk into our midst and grasp such a crucial point which our own seem to continually miss ? The well meaning articles by Rangers bloggers, Rangers Supporters Groups and Rangers websites however well intentioned and passionate, do not carry the same authority as statements or action coming from within the club itself. Furthermore it's not our job – its your job, those of you who are privileged enough to wear a club blazer and tie, or aspire to do so in the future. This support has proven itself time and time again in the face of considerable adversity, with its willingness to protect and safeguard this club. We have done as much as we can. For those with both responsibility and authority – its time for you to step up and play.
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Gonna charge up the phone. Have a feeling there might be some Rangers breaking news to come tonight as well! https://twitter.com/tedermeatballs
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Richard Wilson has tweeted.
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It's the question all Rangers fans want the answer to: "What exactly were the so-called movers and shakers of Scottish football up to, behind closed doors, during that long dark summer of 2012?" Are Rangers supporters correct to be suspicious of their meetings, their motives and their thinly-disguised malevolence? You bet we are - detailed and dogged investigation has proven our own suspicions of two years ago to be correct. Over the next few weeks, Vanguard Bears will vindicate all of those Rangers supporters who harboured suspicions. What went on was scandalous. We have the proof, we've seen the agreements with our own eyes, we have heard first-hand accounts of the double-dealing in all its devious, dastardly detail. We will start by showing you an excerpt of an early draft of the now infamous "5-Way Agreement" and later we will detail the machinations behind it. Please note in particular clause (I) on page 2 - "guilty until proven innocent" springs to mind - also note the subsequent EBT Sanctions on page 3 where the stripping of trophies is mentioned. This should get the ball rolling. Coming soon – Who runs Scottish Football? Low Level Paper Gatherers? Surely not! Read more - http://www.vanguardbears.co.uk/the-five-way-agreement.html
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Here's the Daily Record on Craig Whyte in November 2010: "Financial whizzkid Craig Whyte stands on the brink of pulling off the biggest deal of his life... Record Sport understands self-made billionaire Whyte has entered into the final stages of negotiations to buy control of the club he loves from Sir David Murray... A deal worth around £30million is now believed to have reached such an advanced stage that sources say Whyte, a high-roller who splits his time between a home in London and the idyllic Castle Grant in Grantown-on-Spey, could even have the keys to Ibrox in time to fund a major refurbishment of Walter Smith's top-team squad in January... By the age of 26, Whyte was already Scotland's youngest self-made millionaire. Now, 13 years on, and in charge of a vast business empire, his wealth is off the radar." Here's the Daily Record on Craig Whyte in October 2012: "A private investigation commissioned for Rangers showed Craig Whyte had a record of tax avoidance, failed companies and double dealings – before he was sold Sir David Murray's majority shareholding... The report, prepared by private investigators Titon, described Monaco-based Whyte as a 'fuyant' – French slang for an evader or manipulator. It warned there was no evidence to back claims circulated by Whyte's spin doctors that he was a billionaire with plenty of cash to finance Rangers. In fact, it said, there was no evidence he was even a multi-millionaire. The report talks of "the questionable source and extent of his reported wealth". And here's the Daily Record on Craig Whyte in August 2014: "The taxman was chasing Craig Whyte for £3.7million before he took over Rangers. HMRC focused on Whyte's personal finances and made several failed attempts to get him to pay his dues before, during and after his catastrophic reign at Ibrox... Documents seen by the Record show: * The authorities instructed debt enforcers to chase Whyte with a bill for almost £4million and threaten him with bankruptcy in May 2011, the same month that he bought Rangers... * Yet when he struck the notorious deal with Ticketus for funds to finance his Rangers takeover, he gave the firm a personal guarantee he was worth nearly £33million... At the same time he was able to run up a further £15million in unpaid taxes and penalties during his nine months in charge of Rangers. Whyte had bought Rangers for £1 from Sir David Murray in May 2011, while agreeing to wipe out the club's £18million debts... A sizeable proportion of Rangers fans still hold Murray at least partly responsible for the club's demise, arguing he should not have sold to Whyte, whose reputation had already been questioned." Perhaps the fans should be holding the Record to blame as well. When the paper was reporting on Whyte's hyped wealth it failed to mention the fact that serious questions were being asked in the blogosphere about the veracity of his claims. How could the Record know that Whyte was a billionaire with "a vast business empire" and wealth "off the radar"? And when it did know otherwise, why did it take so long to inform Rangers' fans? And why no apology to its readers? Note that 2012 reference to spin-doctors, as if it was all their fault rather than that of the paper's journalists for accepting what they were told without checking. The age-old problem of sports reporting was the willingness of journalists to act like "fans with typewriters" (or, nowadays, fans with laptops). The reporting of the Rangers' saga over the past five years has been a classic example of reporters being no more than stenographers for PRs offering them stories they didn't care to verify. http://www.theguardian.com/media/greenslade/2014/aug/06/daily-record-rangers
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Suspect the Daily Record will make for interesting reading tomorrow. Will make us even more frustrated though. #justicefortherangerssupport Glad to see what looks like some things HMRC would rather stay unsaid are going to finally come to light. A couple of tweets tonight. Story here: http://www.dailyrecord.co.uk/sport/football/football-news/ex-rangers-owner-craig-whyte-being-3992415
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From @SonsofTruth twitter (not sure who administrates/runs/owns that account):
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He lost the vote but I'm surprised that seems to have been the end of it? I don't think much of him but it seems odd he has gone completely quiet. Am I missing something?
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McCoist in tomorrow's Scottish Daily Mail: ‘The sad thing is that, in our country, our vindication will stick in some people’s throats.' McCoist in tomorrow's Scottish Daily Mail: I will never forget some of the things which have been said and done to our club.' #Rangers
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RANGERS Football Club can this afternoon confirm the signing of Marius Zaliukas on a two-year deal. The Lithuanian defender joined Ally McCoist’s squad in Brora last week and during his second trial spell with the club he impressed both in training and in a 45-minute run-out against Brora Rangers at Dudgeon Park. Having successfully completed his medical he will now travel with the League One champions to North America tomorrow. Zaliukas came close to agreeing a deal with the Light Blues last September but after training at Murray Park he moved to Elland Road instead. Prior to that the 30-year-old centre half spent seven years in Edinburgh with the Jambos and captained the club Rangers will face on the opening day of the Championship season at Ibrox. In total he played 220 times for Hearts following his move from FBK Kaunas in his homeland and scored on 14 occasions. Manager Ally McCoist has already added one central defender to his pool this summer with ex-St Mirren stopper Darren McGregor putting pen-to-paper on a one-year contract on June 11. With Kenny Miller and Kris Boyd also returning to Ibrox last month, Zaliukas’ decision to join Rangers is another boost for the manager and the club as the preparations continue for a massive year in Scottish football’s second tier. http://www.rangers.co.uk/news/headlines/item/7183-zaliukas-joins-gers Hopefully an end to Jig at the back, thank goodness. Zaliukas will surely be the No. 1 choice CB with Faure but more likely Mohsni.
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.....for £8.5m if not for the 'big tax case'. SHEPHERD held crunch talks with Charles Green two years ago but says the legal battle with the taxman scuppered any hopes of becoming a majority shareholder in the ailing club. FORMER Newcastle United chairman Freddy Shepherd last night lifted the lid on his failed bid to take over Rangers. The renewable energy tycoon revealed he was close to securing an £8.5million buyout of the Ibrox outfit in 2012. He held crunch talks with Gers’ chief executive Charles Green at the exclusive Loch Lomond Golf Club. But Shepherd said the club’s long-running legal battle with the taxman scuppered any hopes of becoming a majority shareholder in the ailing club. He said he was wary the legal battle could affect the profitability of the club despite assurances the purchase of the “newco” would not be affected by the former club’s tax dealings. Shepherd, who has never before spoken about his attempt to buy Gers, said: “We looked into it but we unfortunately couldn’t make any headway with Charles Green. It was impossible to agree a deal at that time. “The tax legal proceedings were still ongoing. “We were assured the company was OK but it certainly didn’t do the deal any good. It was always in the background and it was always hanging above us.” He added: “Nobody really knew what decision was going to be made at the end of the day, whether the club was going to be hit by millions or walk away paying a small amount. “No one knew how you could keep the proceedings away from the main company even though we were assured that it was not going to be an issue.” It is understood that Shepherd, who made more than £50million from the sale of Newcastle United in June 2007, was also wary of making a deal with Green. A source close to the talks said: “Freddy didn’t want to get involved with Charles Green. He didn’t think he was the right man to be handling his life savings. “Freddy was due to become a majority shareholder in the club but it ultimately didn’t happen and the whole deal collapsed.” Sir David Murray accuses taxman of sticking knife into Ibrox club as HMRC lose appeal Shepherd’s revelations back up David Murray’s claims on Wednesday that the potential £46million tax bill at stake in the legal case had deterred potential buyers when Craig Whyte snapped up the club for just £1 in 2011. Even when the “newco” were established, the spectre of the case left Shepherd doubting the wisdom of getting involved. He said: “We didn’t think it was the right time because of the difficulties the club was going through. “Charles Green approached us and asked us if we were interested in buying such a huge club. “It’s a worldwide brand known all over the world. That’s why we thought we might be able to get involved in it. “With a club the size of Rangers, they should not have had the problems they’ve had. It’s a great club and hopefully the current owners can push it back to where it was.” http://www.dailyrecord.co.uk/sport/football/football-news/former-newcastle-chairman-freddy-shepherd-3841624
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DEREK JOHNSTONE today demanded an apology from some of the most high-profile names in Scottish football in the wake of Rangers' victory over the taxman. He said: "A lot of people in the game should hang their heads in shame. Rangers are owed a huge apology." HM Revenue and Customs this week lost their appeal to the 'big tax case' verdict that ruled Rangers were not guilty of wrong-doing during Sir David Murray's time at the helm. The spectre of the case cast a huge cloud over the club before a disastrous chain of events unfolded that led to Ally McCoist's side dropping down to the Third Division two years ago. On Wednesday, the Union of Fans hit out at SFA chief Stewart Regan, Neil Doncaster of the SPFL, Stephen Thompson, Rod Petrie, Peter Lawwell and lawyer Rod McKenzie for their actions and comments during Rangers' troubles. DJ told SportTimes: "They all came to the conclusion that Rangers were guilty before anything was proven. "They all had their say and every one has been proven wrong. "The most famous two words that were spouted was 'sporting integrity'. Well, where is the sporting integrity in what has happened to Rangers? The club and the fans have been proven right. "I hope the club are recompensed for everything they have missed out on in the last two years." Despite being cleared for the second time in the courts, the ruling is a bitter-sweet one for Rangers fans and the club as Ally McCoist's side look to complete their journey back to the top flight this term. But Johnstone insists the actions of some should never be forgotten after Rangers and the Light Blue legions were vindicated once again. He said: "A lot of people in the media jumped on the bandwagon as well. It was all built on ifs, buts and maybes, and too many people lined up to stick the boot into Rangers. "It was absolute rubbish. I think there should be many, many apologies sent to Rangers in the next few days. "It is good that it has all come out and Rangers have been vindicated. That is fantastic. "But there are a lot of people who will have their heads buried in the sand and will be keeping a low profile in the next few weeks." http://www.eveningtimes.co.uk/rangers/rangers-legend-demands-apology-over-ebt-debacle-170696n.24723784
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Some thoughts on yesterday's HMRC appeal result: http://www.gersnet.co.uk/index.php/latest-news/256-rangers-v-hmrc-a-pyrrhic-victory
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How long do we wait after the 120 days ???? review? http://www.dailyrecord.co.uk/sport/football/football-news/rangers-boss-ally-mccoist-admits-3813756 McCOIST is seeking clarity on what the operations officer role would entail and whether he'll be allowed to appoint someone else to head up the club's scouting network. ALLY McCOIST has admitted he’s in the dark over Christian Nerlinger being lined up as chief football operations officer at Rangers. And the Ibrox boss wants clarity on what that new role would entail as he still doesn’t know if he can bring in someone else to head up the club’s scouting network. Chief executive Graham Wallace claimed an operations officer was needed in his 120-day business review back in April. And former Gers midfielder Nerlinger is said to be on the radar, having held a similar position at European giants Bayern Munich. But when asked about Nerlinger, McCoist said: “I haven’t heard anything regarding that. I spoke with Graham on Wednesday and nothing has been said about Nerlinger or any director of football so I don’t know anything about it. “I would expect to know something but it has gone quiet. I don’t know what has happened. My priority is to win the league but in terms of infrastructure we desperately need a chief scout. In an ideal world Graham and I would sit down but I don’t know what the plans are with the chief football officer. “I don’t know whether that would be his department in terms of scouting. “Do I have someone in mind? Absolutely. But let’s be honest – there is a financial aspect as well. “We need somebody to scout talent. Whether that is the chief football officer’s gig or the chief scout’s gig is up for debate. But if we want to get back to a top standard in Scotland and hopefully get back into European football we need to have people assessing players.” McCoist has snapped up Darren McGregor, Kris Boyd and Kenny Miller so far this summer. But he also wants to land former Hearts stopper Marius Zaliukas and Cardiff midfielder Don Cowie. The Ibrox boss said: “Marius has trained with us after being released by Leeds and we are going to have a chat. I think there’s still a few quid knocking about in that budget and that will be put to the test in the next week or so.” All of Rangers’ summer targets are tried and tested in the Scottish top flight and McCoist claims in the absence of a proper scouting department he is left with no option but to go for players he knows well. He pointed to Sporting Lisbon’s capture of Dundee United kid Ryan Gauld as an example of clubs casting their net wide and admitted Rangers are “light years” away from being able to work like that. He said: “Ian Durrant, Kenny McDowall and myself watch French football, Dutch football, absolutely everything on TV. But we can’t go to watch players unless they are in Scotland because of the situation the club is in. “That is the beauty of having a scouting department. If you have scouts they can go and watch games, they can recommend players and then you can go and look at them. “At this moment you are actually just watching games off videos. It is not ideal. “I met Peter Houston about four weeks ago (when he was scouting for Celtic) at the airport and said: ‘Where have you been?’ He said: ‘Watching six games.’ “Our best opportunity is to watch on the telly. If you have a chief scout and a department, you have the potential to do a Sporting Lisbon. “You can get a boy at 18, 19 and say: ‘Right, it looks like we are not going to play you for 18 months but we are going to develop you’. “That is the ideal world. We are light years away from that.” -
Looking forward to reading and reviewing this book in the coming few weeks: http://www.amazon.co.uk/Born-Under-Union-Flag-Bissett/dp/1910021121/ref=sr_1_fkmr0_1?s=books&ie=UTF8&qid=1404410171&sr=1-1-fkmr0&keywords=Born+Under+a+Union+Flag%3A+Rangers%2C+Britain+and+Scottish+Independence I know Ally and Alan (and the other contributors) have worked hard on this so it should be an interesting read and useful accompaniment to the Referendum debate. -
http://www.londonstockexchange.com/e...entId=12002687 Rangers International Football Club plc ("Rangers" the "Club" or the "Company") Issue of Equity The Company has made an application to the London Stock Exchange for 714,285 new ordinary shares of 1p each ("New Ordinary Shares") to be admitted to trading on AIM ("Admission"). It is expected that Admission of the New Ordinary Shares will become effective and that dealings will commence at 8.00 a.m. on 7 July 2014. The New Ordinary Shares are being issued pursuant to an exercise of the options granted to Brian Stockbridge (a former Director of the Company) on admission of the Company's shares to trading on AIM pursuant to Mr Stockbridge's original contract of employment with The Rangers Football Club Limited dated 17 September 2012. In accordance with the provisions of chapter 5 of the Disclosure and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following this issue, its issued share capital will comprise 65,810,341 ordinary shares of 1p each. All of the existing ordinary shares and New Ordinary Shares shall have equal voting rights. The total number of voting rights in the Company following the issue of the New Ordinary Shares is therefore 65,810,341. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules. For further information please contact: Rangers International Football Club plc Graham Wallace Tel: 0141 580 8647 Daniel Stewart & Company plc Tel: 020 7776 6550 Paul Shackleton / David Coffman Newgate Threadneedle Tel: 020 7148 6143 Graham Herring / Roddy Watt / John Coles
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http://www.gersnet.co.uk/index.php/latest-news/250-dave-king-the-grand-old-duke-of-york
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The BBC has learned former Rangers chief executive Charles Green is seeking financial support to launch a new bid for control of the Ibrox club. Green led a consortium which bought Rangers' assets in May 2012 and then raised £22m from a share issue, but resigned from his post last year. He returned for a short-lived spell as a consultant before selling his shareholding in the club. However, he has spent the last week in talks with potential investors. Rangers plan to launch a new share issue in a bid to raise in the region of £8m and if Green is to be successful he would need to convince existing shareholders to sell to a new consortium. Green, who held the same position at Sheffield United, stood down from the chief executive's position citing the "negative publicity" surrounding an independent investigation, commissioned by the club's board, into allegations of undeclared dealings with former owner Craig Whyte. That investigation consequently found no evidence of Whyte's claims that he was involved in the Green-led acquisition of Rangers two years ago. On selling his shares to Sandy Easdale, chairman of Rangers' football board, Green said: "I want to make it clear that this means I will have no ongoing influence or financial interest at the club but I remain a fan and fervently hope that Rangers will soon be back at the top where they belong."
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Rangers' beleaguered directors face the possibility that the club auditor, Deloitte, could sever its connection with the club over the next few weeks, following a collapse in the number of season tickets sold. The Daily Telegraph understands that the international corporate finance and accountancy specialists are unhappy about the latest figures emerging from Ibrox, which show that season ticket sales for Rangers’ Scottish Championship campaign are running at half the level of last year’s take-up for their SPFL League One schedule. In a statement on the Rangers website on Friday, the board confirmed that only 17,000 season tickets have been sold. On March 27, when Deloitte signed off the half year accounts up to the end of 2013 – which showed a £3.5 million loss – the auditors added that “key assumptions” made by the directors included a reckoning of future season ticket sales. Deloitte noted that this indicated the existence of a material uncertainty which may cast significant doubt about the company’s ability to continue as a going concern. Despite assurances at the annual general meeting in December from the chief executive, Graham Wallace, that the club could meet its costs until the end of the season, the board subsequently borrowed £1.5 million from shareholder George Letham on the assurance that the sum would be repaid when season ticket sales had yielded the equivalent amount. *However, there has been no notification to the Stock Exchange of any repayment. Instead, leaked reports from a spin doctor formerly employed by the club, confirmed that the board would attempt to raise £8 million through a rights issue later this year. In a statement on the club website on Friday, the Rangers directors said of the latest season ticket sales total – and the likelihood of a share issue – that “The Board believes that whilst this level of support reduces the potential requirement for short-term financing the Board also notes the strategic objectives that it identified in the Business Review Summary published on 25 April 2014 and the related funding requirements. “The Board continues to evaluate its plans in this regard and will update the market in due course.” However, should Deloitte dissociate themselves from Rangers, investor confidence is likely to diminish. Deloitte last night would not comment on any speculation, citing client confidentiality. In response to the club statement, the supporters’ umbrella group, the Union of Fans, condemned the directors’ stewardship. The UoF statement read: “We note the announcement of the Rangers board regarding the season ticket renewal levels for the club this year. It is now obvious that a clear majority of fans have rejected Graham Wallace, Norman Crighton, David Somers, James and Sandy Easdale and their running of the club. “In any normal business, a board which had been rejected by over 50 per cent of its customers in the space of a few months would be removed. Whilst we do not expect this to happen due to the continued support of anonymous shareholders, who could not care less about Rangers, we would highlight that they have utterly failed to gain crucial trust from fans. “We do not believe this trust will ever be built without fundamental change at the club. The problem for this board is very simple. The vast majority of fans, even many of those who have renewed, simply do not trust them and likely never will. “The corporate governance at the club also continues to be a cause for grave concern. We would repeat that it is unacceptable for Jack Irvine of Mediahouse to have access to confidential, price sensitive board information through the Easdales and to then leak that information to the press as he did this week.” J
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The board of Rangers (the “Board”) can confirm that approximately 17,000 season tickets have been renewed to date for the Club's forthcoming SPFL Championship season. This level of renewals reduces the potential requirement for short term financing as highlighted in the Business Review Summary published on 25 April 2014 particularly given the updated season ticket pricing structure for the 2014/15 campaign. Applications for new season ticket purchases opened on Monday and sales of season tickets are continuing. The Club very much looks forward to welcoming more supporters back to Ibrox for what promises to be an exciting league competition. The Board believes that whilst this level of support reduces the potential requirement for short-term financing the Board also notes the strategic objectives that it identified in the Business Review Summary published on 25 April 2014 and the related funding requirements. The Board continues to evaluate its plans in this regard and will update the market in due course. http://www.rangers.co.uk/news/headlines/item/7059-season-ticket-sales
