Frankie 8,200 Posted June 5, 2013 Share Posted June 5, 2013 http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11604587 The Company announces that under an agreement entered into by Charles Green, the former CEO of the Company, with Laxey Partners Ltd ("Laxey") on 19 October 2012, Mr Green has agreed to transfer 714,285 shares owned by him to Laxey, once free to effect a transfer. Under the terms of the lock-in agreement entered into by Mr Green with the Company on 7 December 2012, Mr Green is prevented from transferring shares before 7 December 2013, without the consent of Cenkos Securities plc other than in limited circumstances such as to connected persons, a family trust or in the event of a takeover of the Company. Further to the announcement on 19 April 2013, Mr Green left the Company on 31 May 2013. http://www.laxeypartners.com/ 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,363 Posted June 5, 2013 Share Posted June 5, 2013 Snatched from FF They are an Isle of Man based investment company. From their website: Welcome Laxey Partners Ltd (LPL) is a globally active value investor. Investment philosophy LPL conducts investments in companies which it feels are undervalued. Having researched these companies in great detail, LPL encourages and supports these companies to fulfill their potential and hence enhance shareholder value. LPL has a strong track record in this respect and its associates have substantial international expertise in focusing on the delivery of shareholder value. LPL operates as a "hedge fund". Its investment universe can broadly be split into three areas of which the first two are core: European value investments in quoted operating companies Global discount arbitrage strategies General global special and arbitrage situations By default, I assume Green will be gone for definite by December 7th then. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,200 Posted June 5, 2013 Author Share Posted June 5, 2013 (edited) Important to note that Green has only sold around 15% of his shares to Laxey Partners. Green retains around 4m shares for later disposal. Lots to happen yet. Edited June 5, 2013 by Frankie 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted June 5, 2013 Share Posted June 5, 2013 So if this gives the Easdales more than 10% will that signify another Green lie? 0 Quote Link to post Share on other sites More sharing options...
aweebluesoandso 290 Posted June 5, 2013 Share Posted June 5, 2013 Can i ask about 'Laxey' Partners and their motivation behind this purchase, should we be shitting ourselves? (pun intended) 0 Quote Link to post Share on other sites More sharing options...
reaper 0 Posted June 5, 2013 Share Posted June 5, 2013 He's effectively gone already with this announcement. Just a matter of finding out who Laxey are representing - possibly the Easdale brothers. Are they not representing Green, would it not be a conflict to also represent any alleged buyer, it also said transfer not purchase. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,200 Posted June 5, 2013 Author Share Posted June 5, 2013 So if this gives the Easdales more than 10% will that signify another Green lie? This won't give anyone that at the moment as he's only moved 15% of his holding on. Or at least has said he'll be doing it. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,200 Posted June 5, 2013 Author Share Posted June 5, 2013 Are they not representing Green, would it not be a conflict to also represent any alleged buyer, it also said transfer not purchase. Not sure mate. I jumped the gun earlier anyway as it's only 15% of his holding he's agreed to sell. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted June 5, 2013 Share Posted June 5, 2013 This is the problem when it comes to Rangers, shares and bidders. Who knows what has been agreed between Green and the other shareholders, we could be looking at any amount of problems in the future. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted June 5, 2013 Share Posted June 5, 2013 Greens propensity for lies will be affecting us for a decade perhaps longer. 0 Quote Link to post Share on other sites More sharing options...
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