ian1964 10,514 Posted August 3, 2013 Share Posted August 3, 2013 by billmcmurdo The group seeking to oust Brian Stockbridge, Craig Mather and Bryan Smart from the Rangers board may be pulled into a takeover battle which could cost them up to £65m. The group is deemed as a Concert Party by the Takeover Panel. As they are seeking control of the board, Rule 9 of the Takeover Panel means if the Concert Party which has requisitioned an EGM have 30% of the shares they are bound to launch a takeover and bid for all the available shares. Once a concert party i.e. a group of investors acting in a combined interest or common purpose look like they are getting close to this figure, they are tracked and monitored by the AIM and Takeover Panel. This makes it notoriously tricky for groups to stay just under the threshold where they must attempt a takeover It is easy for a small share purchase to tip a concert party into a mandatory takeover position. My understanding is that the Blin-Murray group have around 28% of shares and this is without Kieran Priorâ??s holding, which would tip them over. Prior is rumoured to be cosy with the group so his involvement may be deemed to be part of it. Rule 9 of the Takeover Code demands that any party attempting takeover is obligated to pay the highest traded price for a share in the previous year. Because some institutions involved paid £1 per share for Rangersâ?? shares pre IPO this means that any party launching a takeover of Rangers may have to pay £1 per share!! I admit I am not a takeover expert so I donâ??t know if the pre-IPO price is binding in respect of Rule 9 but even taking the highest price of shares since the IPO then this would cost any takeover party millions more than they would like to pay. Priorâ??s role in the matter could be compromised by his dealings with the club already. He has had meetings with Malcolm Murray, Craig Mather and Brian Stockbridge which could mean he is deemed as being in possession of price-sensitive information on Rangers shares. None of this will be good news for Rangers fans. A poll conducted on a fan forum recorded a massive majority polled did not want a return to the club for Paul Murray, who is involved with the Concert Party. Another Murray â?? Malcolm Murray â?? is also said to be part of the Concert Party which is seeking to unsettle the club and rip the boardroom apart. Newspaper reports today have revealed that Jim McColl is behind the plan. This will rightly horrify many Rangers fans as McColl is pro-independence, something that is totally against the Unionist ethos of the club. Now is the time for Walter Smith to stand up and reject this attempt to rip the board apart and plunge Rangers into further needless turmoil. Things looked to be settling after months of internal fighting and the club just donâ??t need this unrest as we go into a new season. It is well-known that Walter and manager Ally McCoist are pally with Paul Murray so a wee private word should suffice. Failing that, a strong public rebuke from Walter and a robust defence of his directors will be what Rangers fans expect to hear. The time has come for bluenoses to back the board and protect the club from the Murrays and their cohorts who want to sack board members and make their play for power. Rangers donâ??t need or want people who couldnâ??t and didnâ??t stump up when it really mattered. http://billmcmurdo.wordpress.com/2013/08/03/the-desperate-power-play-for-control-of-rangers/ 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted August 3, 2013 Share Posted August 3, 2013 bill is working so hard to get green a big price for his shares i do hope he is getting a cut at least. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,066 Posted August 3, 2013 Share Posted August 3, 2013 He should just take his name of the blog and let Imran put his own on it. 0 Quote Link to post Share on other sites More sharing options...
amms 0 Posted August 3, 2013 Share Posted August 3, 2013 by billmcmurdo Newspaper reports today have revealed that Jim McColl is behind the plan. This will rightly horrify many Rangers fans as McColl is pro-independence, something that is totally against the Unionist ethos of the club. http://billmcmurdo.wordpress.com/2013/08/03/the-desperate-power-play-for-control-of-rangers/ Quite right Bill, tell McColl to get lost and whilst he's at it get him to take Andy Steel, Real Papabear and 54 and Counting with him. Can't have these people near 'our' club, people thinking for themselves is the devil's work, no place for that at Ibrox. 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted August 3, 2013 Share Posted August 3, 2013 Who made Bill the fans spokesperson ? And now we also should reject a potential owner simply because they are pro-independence ? Talk about a circus. I used to like reading Bill's stuff but more and more his blog reads as not being his own but what he is being fed by one particular faction. Wonder if we will do the Leggo U-turn if the current shareholders remain and we end up penniless again ? 0 Quote Link to post Share on other sites More sharing options...
andy steel 0 Posted August 3, 2013 Share Posted August 3, 2013 (edited) My understanding is that the Blin-Murray group have around 28% of shares and this is without Kieran Prior’s holding, which would tip them over. Prior is rumoured to be cosy with the group so his involvement may be deemed to be part of it. This sounds like pish, technically speaking. You're either part of or not part of a group. To the best of my limited knowledge 'cosy with' doesn't appear on many company/corporate law documents. This will rightly horrify many Rangers fans as McColl is pro-independence, something that is totally against the Unionist ethos of the club. For fuck's sake. YOUR (OR MY) POLITICAL STANCE IS OF NO IMPORTANCE COMPARED TO THE SURVIVAL OF RANGERS. Edited August 3, 2013 by andy steel 0 Quote Link to post Share on other sites More sharing options...
crucible 0 Posted August 3, 2013 Share Posted August 3, 2013 The real clever power players have their funding in place before making a power play, seems to have been missed again by the same power player under a different cloak. 0 Quote Link to post Share on other sites More sharing options...
Calgacus 8 Posted August 3, 2013 Share Posted August 3, 2013 I don't care about the politics of who owns Rangers as long as they make a good job of it. The fact that this has been brought up may suggest a certain desperation on the part of Ahmed's camp. Who would you prefer involved with Rangers - a respected businessman who supports independence or an alleged gangster? 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted August 3, 2013 Share Posted August 3, 2013 The real clever power players have their funding in place before making a power play, seems to have been missed again by the same power player under a different cloak. like control of 30% of the shares 0 Quote Link to post Share on other sites More sharing options...
crucible 0 Posted August 3, 2013 Share Posted August 3, 2013 like control of 30% of the shares Really, you have confirmation of this the rhebel apart ? I don't remember Malcolm's name being mentioned. 0 Quote Link to post Share on other sites More sharing options...
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