Rangers FC no longer for sale

[OnlyOneAmoruso 0]

SSN news are now reporting Ellis deal in advanced negotations.

 

Also, an announcement been made to the stock exchange.

 

http://www.londonstockexchange.com/exchange/prices-and-news/news/market-news/market-news-detail.html?announcementId=10526509

[Guest Northampton_loyalist]

breaking news on SSN. Stock Market release statement. Club are in 'advanced negotiations'

 

Bluedell, would I be right in agreeing with the guy on FF who says 99% of the time this is an advanced warning of an iminent deal?

[wabashcannonball 0]

xRegulatory Story

Go to market news section

 

Company RFC Holdings (Grnsy)

TIDM

Headline Stmnt re. Press Comment on Rangers Football Club

Released 18:21 09-Jun-2010

Number 3649N18

 

 

 

RNS Number : 3649N

RFC Holdings (Guernsey) Limited

09 June 2010

 



 

9 June 2010

 

RFC Holdings (Guernsey) Limited

 

("RFC" or the "Company")

 

Announcement re Press Speculation regarding Rangers Football Club Plc

 

RFC, which is controlled by Andrew Ellis, notes today's press reports regarding discussions between the Company and Sir David Murray. The Company confirms that it is in advanced negotiations with Sir David Murray to acquire a controlling interest in Rangers Football Club Plc ("Rangers") however no price has been agreed and no timing has been established for the conclusion of the talks.

 

If a deal is concluded between Sir David Murray and RFC, the Company would be required under Rule 9 of the City Code on Takeovers and Mergers immediately to make an offer for the remaining issued share capital of Rangers.

 

It is emphasised that this announcement does not amount to a firm intention to make an offer and there is no certainty that any offer will be forthcoming or as to the terms of such an offer.

 

For further information please contact:

 

Astaire Securities Plc 020 7448 4400

 

Antony Legge / Gavin Burnell

 

 

 

The directors of RFC accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the directors of RFC (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.

 

 

 

 

This information is provided by RNS

The company news service from the London Stock Exchange

 

END

 

 

 

 

 

This should cover it.

 

 

Rule 2.8 provides that a person who makes a statement that he does not intend to

make an offer for a company will normally be bound by that statement for a period of

six months (unless there is a material change of circumstances and subject to any

specific reservations set out in the statement).

Occasionally, speculation will appear in the press concerning a possible offer by a

particular person, when the reputed offeror has in fact not been considering any offer

for the company in question and there is no foundation for that speculation.

The reputed offeror must in such circumstances take care, if he chooses to comment

on the speculation, not to make a statement of a kind to which Rule 2.8 applies if he

does not wish to be bound by the statement for a period of six months. The Executive

should be consulted before a statement is made in such circumstances. A public

statement simply denying that the speculation has any foundation is likely to be

construed by the Executive as a statement that the reputed offeror has no intention to

bid for the company concerned.

Edited June 9, 2010 by wabashcannonball

[OnlyOneAmoruso 0]

no smoke without fire.

[wabashcannonball 0]

no smoke without fire.

 

 

Or mirrors.

[ascender 352]

Another step in the right direction surely, an encouraging sign? If nothing was progressing, then why would this announcement be made? Sure, we don't know any more than we did yesterday, but does this not at least give us hope?

 

On the other hand....

 

[Gazza_8 233]

What was Ellis like as Northampton Town chairman, anoyone know?

[OnlyOneAmoruso 0]

Or mirrors.

 

In all seriouness, do you honestly still think this won't happen?

[williamh 0]

ffs is it or is it not going to happen .I am getting severely pissed of with this.

[Gazza_8 233]

From the Beeb.....

 

The Andrew Ellis-led consortium is in "advanced negotiations" with Rangers to buy a controlling interest in the club.

 

Ellis and his company, RFC Holdings, informed the Stock Exchange on Wednesday that talks were at an advanced stage.

 

The consortium first registered its interest in the club in March.

 

Speaking last month, former Northampton Town owner Ellis apologised to the club's supporters over the length of time it was taking to strike a deal.

 

Ellis's consortium is considering a reported �£33m bid for the Scottish champions, who are about �£30m in debt and who have admitted that they are being investigated by HM Revenue and Customs, with reports claiming the club faces a �£24m tax bill.

 

Rangers chairman Alastair Johnston has previously criticised Ellis for the delay in preparing his proposal.

 

And on Wednesday, a statement on the Stock Exchange read: "The company confirms that it is in advanced negotiations with Sir David Murray to acquire a controlling interest in Rangers Football Club Plc.

 

"However, no price has been agreed and no timing has been established for the conclusion of the talks.

 

"If a deal is concluded between Sir David Murray and RFC, the company would be required under Rule 9 of the City Code on Takeovers and Mergers immediately to make an offer for the remaining issued share capital of Rangers.

 

"It is emphasised that this announcement does not amount to a firm intention to make an offer and there is no certainty that any offer will be forthcoming or as to the terms of such an offer."

 

Sir David Murray, who relinquished his chairmanship and place on the board in August, controls about 90% of the shares in the Scottish Premier League champions.