Official site: Intention To Float On AIM

[simplythebest 0]

Sure - so why hasn't Green cut those costs?

 

I doubt anyone wanted to see any redundancies, or something like selling off the training ground etc.

 

Considering McCoist was wanting to sign about half a dozen players on deadline day i'd say Green was probably being sensible there.

[Stimpy 0]

He certainly said previously it would be - by some company/bank in London.

 

Wouldn't surprise me to find out that has changed.

Shares are not being underwritten. He was asked at the AGM on Friday night and stated so.

[GovanAllan 0]

Well the cost of Edmiston House and the following redevelopment must be close to a 2/3 million alone, there is also a load of work needing done to Ibrox so another 2/3 million. If he gets G51 really moving this time then that's more money required.

 

You also have the worldwide expansion he keeps talking about, which is all well and good but before you get any money coming back you have to lay a fair bit out.

[Frankie 8,157]

Well the cost of Edmiston House and the following redevelopment must be close to a 2/3 million alone, there is also a load of work needing done to Ibrox so another 2/3 million. If he gets G51 really moving this time then that's more money required.

 

You also have the worldwide expansion he keeps talking about, which is all well and good but before you get any money coming back you have to lay a fair bit out.

 

All valid reasons for investment but will they really excite the fans enough to persuade them the risk is worth it?

[Frankie 8,157]

Shares are not being underwritten. He was asked at the AGM on Friday night and stated so.

 

What happens if we only raise, say £5million, then from the flotation?

[GovanAllan 0]

All valid reasons for investment but will they really excite the fans enough to persuade them the risk is worth it?

 

Probably not, but then any investment I've ever done normally bored me to tears.

 

Most investors are only interested in the bottom line, I'm putting X in and I'm getting Y back (which is hopefully a lot more than X) everybody is happy. I can't see him convincing many hard nosed investors of this no matter how good a salesman he seems to be.

 

So that leaves the fans and he really has to show them what their getting, which would mean plans on the table passed for G51, detailed plans for Edmiston House and a detailed work plan for Ibrox which all take time, and he's not giving us the time to see all this.

 

It really has got disaster written all over it at this time.

[foggy dewhurst 0]

its now time to invest i'am in.

[forlanssister 3,050]

Green must be on to about Plan L or M now which in fairness to him is not through his own making but he should know better than most (Kingsbridge, Panceltica, Sheffield United et al)caveat emptor.

 

He did previously claim the issue would be underwritten but it's really no surprise that it now isn't as it would have been simply too expensive especially given current conditions both at the club itself and market conditions in general.

 

My biggest concern at the time of the takeover was the ability and/or willingness of the investors to fund us till we were back in a better place, since we don't know the full ownership structure at present we don't know whether they have the ability or not but it now looks exceedingly like they don't have the willingness.

 

Much has been made of the wage bill for playing staff being slashed but it doesn't appear there has been much done to attack other costs such as non playing staff, then there are the fixed costs attributed to running the club which cannot be cut (by much if by anything) rates, utilities, insurance etc. It will still cost basically the same as last season to stage a match at Ibrox but match day income will be much reduced due to lower ticket prices and hospitality uptake.

 

As I've said before any prospectus should make for interesting but any fan investing reading would be doing so through emotion not logic. It remains to be seen whether the long term interests of Green & Co are mutually compatible with those of RFC nothing I've seen so far has convinced me they are.

[BeardyGuts 6]

To be honest i can't see the 20 million all being raised. I think there is a massive difference between backing the club with season ticket purchases and then also asking to invest in the club with no real guarantee of return.

 

Will the share price rise significantly on getting back to the SPL? Just looking at Celtics share price it didn't move a great deal when they qualified for the CL and they only have a market cap of 34m. Maybe that is hampered by the amount of large shareholders they have restricting share movements i don't know, not an expert. But i really can't see a massive return for the current shareholders through share price movement alone.

[bigy 0]

What happens if we only raise, say £5million, then from the flotation?

 

That's what puzzles me. He keeps saying that nobody can own over 10%, but if over 10% of the shares are left unsold who do these go to?

 

I think he's right to an extent. A debt free Rangers, a club which owns all its assets, which will be in Europe again soon, and which has huge development opportunities around the ground is a hugely attractive prospect. When he talks about the plans for redeveloping the area it sounds great, and we now have huge potential to grow.

 

What I still don't understand is why restrict it to Rangers fans? He knows how suspicious we are, he knows that finances are tight for everyone right now, so why not open it up? Or, if it's about money, why not endorse a fans ownership model which could potentially raise that kind of money and which would entice a lot of us?

 

A lot of what he's doing doesn't seem to make sense to me just now. But in saying that, he does come across as open and decent. I have no problems with him at all, i'm just sceptical when I don't know the full facts.