Frankie 8,183 Posted July 6, 2012 Share Posted July 6, 2012 Are they true? Yeah, they seem a largely fair account. Perhaps not an exhaustive list but it was quite difficult to follow what was happening at times. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted July 6, 2012 Share Posted July 6, 2012 Yes, they are a reasonable set of minutes. Thanks BD, only question I have is if Blue Pitch Holdings hold 23% when they sell to the new investors that money won't come into the club it will go to them surely or am I missing something. 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted July 6, 2012 Share Posted July 6, 2012 Thanks BD, only question I have is if Blue Pitch Holdings hold 23% when they sell to the new investors that money won't come into the club it will go to them surely or am I missing something. Nah, what will happen is that Blue Pitch Holding investment in the club in %age terms will be diluted by issuing more shares. Example, Blue Pitch own 10,000 shares which is, say, 100% of the club's shares - but there are 20,000 shares authorised to be issued. The 2nd 10,000 shares are issued to Frankie's Gersnet.... this has the effect of reducing Blue Pitch Holdings shareholding from 100% to 50%. The money still goes to the club as Frankie's Gersnet have bought club shares, from the club, which had not been previously issued - but still has effect of diluting the Blue Pitch holding. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,356 Posted July 6, 2012 Share Posted July 6, 2012 Thanks BD, only question I have is if Blue Pitch Holdings hold 23% when they sell to the new investors that money won't come into the club it will go to them surely or am I missing something. There are 2 issues. The flotation of shares and the selling of existing shares. The share floation would (should) be new shares with the cash going into the club. The shareholders, including Blue Pitch, can sell their shares after that and keep the proceeds. The curent investors obviously believe that the shares will increase in value and that is how they get their return. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted July 6, 2012 Share Posted July 6, 2012 Thanks guys. 0 Quote Link to post Share on other sites More sharing options...
Stimpy 0 Posted July 6, 2012 Share Posted July 6, 2012 (edited) RFFF meeting with the support and the club’s new board Sandy Jardine opened the meeting and thanked all for attending. Sandy explained the purpose of the meeting and that the new board of directors will be attending to answer any questions. Jim Hannah updated the hall on what funds are in the bank with regards to the RFFF: Bank balance of £524,068.92 Sandy Jardine tells the hall that the support will decide what the funds will be spent on, and what the future holds for the RFFF. Meeting will be announced before the first game of the season. Andrew McCormack updates the hall on the recent poll for the support to decide where we would like to play football next season. 76% for SFL 3, 3% for SFL 1 without sanctions, and 20% for SPL with sanctions. 3,000 votes scrubbed because the Rangers number didn’t match the club’s database. RFFF committee ask for a show of hands on the poll to see if opinions had changed. Overwhelming majority want to play in SFL 3. Board of directors arrives (Charles green, Malcolm Murray, Brian Stock Bridge, Imran Ahmad) and explain their background. Ally McCoist is also in attendance. • Malcolm and Charles discuss the tighter and more robust fiscal policy that needs implemented. • They both feel the board is well balanced and that no one-man will ever own Rangers outright again. • There will be no asset sale on any of Rangers’ assets. • Craig Whyte is not involved • Club will be run with no debt • There will be a chance for fans to buy in • Charles states he hasn’t moved from that commitment • Charles admits he has learned a lot while in Scotland – Anti-Rangers sentiments are strong • Charles admits he is not a Rangers fan but recognises the club is nothing without its fans John Brown demands to see title deeds and where the £30m funding that was promised. Imran Ahmad explains £11m already invested, £3m of which is left with a further £2.5 committed for next week. Green points to his business plan which two of the RFFF committee have seen and standby that the plan is right for Rangers. Charles states that Imran is seeking further investment. He also explains what percentage of the club the board own (26% collectively) and Blue Pitch Holdings are the largest shareholders with 23%. This will be diluted through the share issue on AIM. Sevco also own all of Rangers’ assets and the name will be changed to Rangers Football Club. Board questioned on the exit price from the consortium. Imran values the club at £50m on a bad day. On the SPL vote – questions from the hall: • CG, MM and Ally spoke with clubs. They feel they wasted their day and “it’s their loss”. • CG was not prepared to give into the sanctions the governing bodies are trying to impose. • CG has no problems with playing in the SFL 3 and Brian Stockbridge has done costing analysis on SPL, SFL 1 or SFL 3 participation. Plans in place for all eventualities. • It’s up to the SFL where we play so whether we prefer SFL 3 it is out of hands. • CG will not give into any sanctions. Though there is none yet, the SFA want to apply sanctions • If we can’t obtain a license then we won’t be able to play friendlies unless the SFA give us permission • CG points out that a points deductions only suits one club • CG: One driver behind all the sanctions Questioned on playing in England & buying another club out: • Club’s looked at various opportunities and Ally’s been consulted in this • We can’t acquire a club and change it over. • We could play in non-league football in England from the very bottom Questioned on forward planning: • Brian Stockbridge explains there’s £3m left from the £11m investment • Further £2.5m committed for next week • Club also needs the usual income stream to move forward like season tickets and merchandise • Season Ticket sales are £100,000 to date. No direct debit facility yet for season tickets • Support asks for evidence but the document Green holds up is confidential. RFFF committee member state that he has seen it along with the RFFF chairman. Both are happy with its content • Green says there will be a £20m fan buy in through shares on AIM • CG must deliver £20m investment and no debt for him to get his shares (10%) from the club Questioned on the club losing its dignity: • Malcolm Murray makes it clear we won’t be accepting sanctions • We’re dealing with lunatics but we must think logical to move forward • MM: Revenge is a dish best served cold Q&A with Ally McCoist: • Ally rubbishes the popular phrase sporting integrity • If fans want to play in SFL 3 then he is 100% behind us • He can’t tell fans to renew because of what’s happened; • Doesn’t what know what players he will have; • Where we will be playing; • Trust must be earned; • Doesn’t know the new board • Nobody’s more angrier than the support and himself • Ally’s watching things closely • Craig Whyte’s turned him into an old cynic • But will give Green and his consortium a chance • Explains he had a disagreement with Green that led to reports of him walking. Disagreements can be healthy and we all move on Number of fans get up and praise Ally for all that he has done over the last five months. Ally finishes the meeting by thanking the support for everything throughout the last five months. Edited July 6, 2012 by Stimpy 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,059 Posted July 6, 2012 Share Posted July 6, 2012 Here's my account of things ..........................Ally finishes the meeting by thanking the support for everything throughout the last five months. Thanks that's an excellent account, the only thing I would nit pick is that they stated that the 23% owned by Blue Pitch Holdings would be diluted down to 20% when the next tranche of imminent investment arrives. 0 Quote Link to post Share on other sites More sharing options...
Stimpy 0 Posted July 6, 2012 Share Posted July 6, 2012 Thanks that's an excellent account, the only thing I would nit pick is that they stated that the 23% owned by Blue Pitch Holdings would be diluted down to 20% when the next tranche of imminent investment arrives. You could be correct. We actually debated that figure in the pub afterwards. Cheers. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted July 7, 2012 Share Posted July 7, 2012 RFFF meeting with the support and the club’s new board Sandy Jardine opened the meeting and thanked all for attending. Sandy explained the purpose of the meeting and that the new board of directors will be attending to answer any questions. Jim Hannah updated the hall on what funds are in the bank with regards to the RFFF: Bank balance of £524,068.92 Sandy Jardine tells the hall that the support will decide what the funds will be spent on, and what the future holds for the RFFF. Meeting will be announced before the first game of the season. Andrew McCormack updates the hall on the recent poll for the support to decide where we would like to play football next season. 76% for SFL 3, 3% for SFL 1 without sanctions, and 20% for SPL with sanctions. 3,000 votes scrubbed because the Rangers number didn’t match the club’s database. RFFF committee ask for a show of hands on the poll to see if opinions had changed. Overwhelming majority want to play in SFL 3. Board of directors arrives (Charles green, Malcolm Murray, Brian Stock Bridge, Imran Ahmad) and explain their background. Ally McCoist is also in attendance. • Malcolm and Charles discuss the tighter and more robust fiscal policy that needs implemented. • They both feel the board is well balanced and that no one-man will ever own Rangers outright again. • There will be no asset sale on any of Rangers’ assets. • Craig Whyte is not involved • Club will be run with no debt • There will be a chance for fans to buy in • Charles states he hasn’t moved from that commitment • Charles admits he has learned a lot while in Scotland – Anti-Rangers sentiments are strong • Charles admits he is not a Rangers fan but recognises the club is nothing without its fans John Brown demands to see title deeds and where the £30m funding that was promised. Imran Ahmad explains £11m already invested, £3m of which is left with a further £2.5 committed for next week. Green points to his business plan which two of the RFFF committee have seen and standby that the plan is right for Rangers. Charles states that Imran is seeking further investment. He also explains what percentage of the club the board own (26% collectively) and Blue Pitch Holdings are the largest shareholders with 23%. This will be diluted through the share issue on AIM. Sevco also own all of Rangers’ assets and the name will be changed to Rangers Football Club. Board questioned on the exit price from the consortium. Imran values the club at £50m on a bad day. On the SPL vote – questions from the hall: • CG, MM and Ally spoke with clubs. They feel they wasted their day and “it’s their loss”. • CG was not prepared to give into the sanctions the governing bodies are trying to impose. • CG has no problems with playing in the SFL 3 and Brian Stockbridge has done costing analysis on SPL, SFL 1 or SFL 3 participation. Plans in place for all eventualities. • It’s up to the SFL where we play so whether we prefer SFL 3 it is out of hands. • CG will not give into any sanctions. Though there is none yet, the SFA want to apply sanctions • If we can’t obtain a license then we won’t be able to play friendlies unless the SFA give us permission • CG points out that a points deductions only suits one club • CG: One driver behind all the sanctions Questioned on playing in England & buying another club out: • Club’s looked at various opportunities and Ally’s been consulted in this • We can’t acquire a club and change it over. • We could play in non-league football in England from the very bottom Questioned on forward planning: • Brian Stockbridge explains there’s £3m left from the £11m investment • Further £2.5m committed for next week • Club also needs the usual income stream to move forward like season tickets and merchandise • Season Ticket sales are £100,000 to date. No direct debit facility yet for season tickets • Support asks for evidence but the document Green holds up is confidential. RFFF committee member state that he has seen it along with the RFFF chairman. Both are happy with its content • Green says there will be a £20m fan buy in through shares on AIM • CG must deliver £20m investment and no debt for him to get his shares (10%) from the club Questioned on the club losing its dignity: • Malcolm Murray makes it clear we won’t be accepting sanctions • We’re dealing with lunatics but we must think logical to move forward • MM: Revenge is a dish best served cold Q&A with Ally McCoist: • Ally rubbishes the popular phrase sporting integrity • If fans want to play in SFL 3 then he is 100% behind us • He can’t tell fans to renew because of what’s happened; • Doesn’t what know what players he will have; • Where we will be playing; • Trust must be earned; • Doesn’t know the new board • Nobody’s more angrier than the support and himself • Ally’s watching things closely • Craig Whyte’s turned him into an old cynic • But will give Green and his consortium a chance • Explains he had a disagreement with Green that led to reports of him walking. Disagreements can be healthy and we all move on Number of fans get up and praise Ally for all that he has done over the last five months. Ally finishes the meeting by thanking the support for everything throughout the last five months. a few bits of that are rather contradictory to the document they presented to the spl. 0 Quote Link to post Share on other sites More sharing options...
Tannochsidebear 2,320 Posted July 7, 2012 Author Share Posted July 7, 2012 a few bits of that are rather contradictory to the document they presented to the spl. What bits please? Has the document they presented to the SPL been publishe, I wasnt aware that it had? 0 Quote Link to post Share on other sites More sharing options...
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