Wija 0 Posted August 28, 2009 Share Posted August 28, 2009 He has given us the highest of highs, but also in more recent times, the lowest of lows. He will always be the greatest Chairman, and for that he deserves our gratitude. May he go onto bigger and better things and may he have a long and very prosperous life. Sir David Murray, Thank you. 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted August 29, 2009 Share Posted August 29, 2009 If I'm not mistaken, the RFC share price dropped to a 5 year low point this month with this months slump knocking around 25% off the share value. Overall, the shares are only worth about 30% of what they were worth about 4/5 years ago. Seems to me that now would be a time for buying shares if possible, but who's gonna be selling them if they've just dropped 25% in value?? Buying shares in a football club is very rarely a business, financial decision but an emotional one. Our club's future is still at risk and we apparently have no money for new players despite having about an additional 10 mill from CL this year. And you think that would be a worthwhile investment ? Even given the drop in share price I am not convinced it is a good buy. It could go either way so would be no more than a gamble. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted August 29, 2009 Share Posted August 29, 2009 If I'm not mistaken, the RFC share price dropped to a 5 year low point this month with this months slump knocking around 25% off the share value. Overall, the shares are only worth about 30% of what they were worth about 4/5 years ago. Seems to me that now would be a time for buying shares if possible, but who's gonna be selling them if they've just dropped 25% in value?? Buying shares in a football club is very rarely a business, financial decision but an emotional one. Our club's future is still at risk and we apparently have no money for new players despite having about an additional 10 mill from CL this year. And you think that would be a worthwhile investment ? Even given the drop in share price I am not convinced it is a good buy. It could go either way so would be no more than a gamble. Hi Craig. No I wasn't saying it would be a good investment necessarily, just that from what I've been able to gather, the share price has slumped VERY recently (like this week) & that it's only about 30% of what it was 4/5 years ago. As you know, when share prices slump, they're often bought up in whatever quantities are available by someone (or some people acting on behalf of someone) who might have a knowledge that the shares will go back up again. I'm not saying there's a conspiracy going on, but you never know. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,356 Posted August 29, 2009 Share Posted August 29, 2009 The share price fell 5p on 7th august. It doesn't mean a great deal because the market for Rangers shares is very illiquid and small purchases can make a difference to the price. It bears no resemblence as to what Murray would sell the club at but at the current midprice the club is valued at just under �£41m. 0 Quote Link to post Share on other sites More sharing options...
maineflyer 0 Posted August 29, 2009 Share Posted August 29, 2009 (edited) I'd have thought the current market price of Rangers shares is a complete irrelevance to any deal, other than as a benchmark for assessing personal tax liability if bought at a discount. Since any transaction for all or part of Murray's shareholding will almost certainly be conducted an arms length between companies, this is unlikely to be seen as much of an issue. The selling price will be agreed by personal negotiation and may involve an arrangement stretching over many years. I haven't looked at the details in the Articles of the company but at Murray's level of majority I'd imagine all other shareholders will be subject to dragalong. Anyone wishing to buy control of the club (and who in their right mind would waste money on a minority stake) will essentially have to do a personal deal with an individual (Murray) who now has no legal responsibility to the club that he has previously had as a director. As such, Murray can now do a deal to suit himself, with no contraint or obligation to act in the best interests of the club. It's interesting to think that the current state of affairs actually allows Murray the opportunity to sell all his shares but continue to influence how the club is run through the terms of a sharesale agreement entered into with the buyer. The selling price could actually be used to leverage such an arrangement that could allow Murray to benefit from his current shareholding long after he's actually sold it. This could of course be good or bad, depending on how smart of otherwise Murray actually is. I'm not predicting this is what will happen, just pointing out that we shouldn't be entirely naive about Murray's decision to step down from the board of directors. Such a move actually empowers him if you are inclined to look at it that way. Another angle worth considering is that money isn't the only currency in sharesales. It is entirely possible that Murray is using Rangers to trade his way into a buyers business through a share exchange, with or without a cash element. Some might see it as the hallmark of a smart businessman - to have the world looking one way while he closes a deal on the blind side. I've no idea what is going on but I'd bet on it being nothing like the media stories circulating and being regurgitated on fan's forums. Murray does nothing out of sentiment and any thoughts of him being too jaded to want to carry on are definitely bollocks. If he is conducting a deal then it's nothing to do with Rangers and everything to do with what he wants in exchange for his shares. Edited August 29, 2009 by maineflyer 0 Quote Link to post Share on other sites More sharing options...
UCF2008 0 Posted August 29, 2009 Share Posted August 29, 2009 The share price fell 5p on 7th august. It doesn't mean a great deal because the market for Rangers shares is very illiquid and small purchases can make a difference to the price. I see what you're saying and I'm no financial whiz by any means, but when you look at the data for the past 5 years it doesn't seem very healthy. RFC shareprice I would guess that a majority of businesses with that kind of performance over a 5-year period would be looking to make changes at the top. 0 Quote Link to post Share on other sites More sharing options...
maineflyer 0 Posted August 29, 2009 Share Posted August 29, 2009 I see what you're saying and I'm no financial whiz by any means, but when you look at the data for the past 5 years it doesn't seem very healthy. RFC shareprice I would guess that a majority of businesses with that kind of performance over a 5-year period would be looking to make changes at the top. Except that Rangers isn't a business in any normal sense. For many years, Rangers has essentially had one shareholder and one executive director, who are the same person. Why would Murray remove himself because he is letting himself down? A hall of mirrors couldn't be more absurd than the modern day Rangers boardroom. Dictatorships are only ever successful if the dictator happens to be perfect and we all know how often that happens. 0 Quote Link to post Share on other sites More sharing options...
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