the gunslinger 3,366 Posted October 13, 2013 Share Posted October 13, 2013 spew is always trying to incite riots. it never actually happens though. 0 Quote Link to post Share on other sites More sharing options...
rbr 1,256 Posted October 13, 2013 Share Posted October 13, 2013 You have to wonder or laugh or even both at what King is coming back to , in his statement he says and I quote "I wished the discussions to remain confidential until something definite was agreed- one way or another. I have maintained that confidentiality. However, given my awareness of incorrect inferences being drawn in the media I would like to make a limited statement at this time." He must have known it was Rangers that gave the story to the press last week , with JT phoning everyone of the main sports papers editors personally to tell them ,bizarre 0 Quote Link to post Share on other sites More sharing options...
compo 6,930 Posted October 13, 2013 Share Posted October 13, 2013 another share issue with dave king to underwrite it 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted October 13, 2013 Share Posted October 13, 2013 The statement is a bit bizarre. He obviously wants Paul Murray and perhaps some others on the board. He ignores the fact that fund raising is going to start less than 12 months after raising £22m. Why does he use "current" when describing the directors and just "the board". Why is he happy to become Chairman of a board that didn't inform the previous Chairman of the financial position? Perhaps I'm in the minority but I find it all a bit depressing. My own take on a few of your points BD: It IS going to be extremely soon after the IPO, but King will know that the chances of a second round of fundraising being successful are going to be greatly increased if he spearheads another share issue/cash call as the Club's Chairman and as a significant investor himself. By using the terms "current" and "the board" instead of actual names of directors he instantly distances himself from giving any backing or endorsement to specific individuals. I think that shows that he's prudently being non committal about his preferences for the post-AGM make up of the board which puts him in a position of power. He could also be sticking with generic terms such as "the board" because he's smart enough to not risk setting himself up to be attacked for going back on his word if the likes of Mather & Stockbridge end up getting thrown under a bus ahead of (or at) the AGM. Lot's of options and it's easy to start reading too much into these things, but I think King's choice of words are probably very well calculated. He needs to back "the board" in order to be appointed Chairman, but he's wise enough to not back Mather, Stockbridge or any individual personally ahead of the AGM. Shrewd move because he's bound to know that a LOT of the fans want Mather, Stockbridge & co gone yesterday, so I think King is playing a game of gently gently catch the monkey with them. That's my hope anyway. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 13, 2013 Share Posted October 13, 2013 perhaps king want's as much of the share capital issued as possible to go to him 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted October 13, 2013 Share Posted October 13, 2013 perhaps king want's as much of the share capital issued as possible to go to him This is the only thing that's really concerning about the latest developments (to the point of worry) because King's sudden involvement is likely to muddy the waters with regards to AGM resolutions 9 & 10 and I'm concerned that someone's plan might be to use King to push those resolutions through. It's going to be an interesting 10 days ahead of the AGM. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,105 Posted October 13, 2013 Share Posted October 13, 2013 You have to wonder or laugh or even both at what King is coming back to , in his statement he says and I quote "I wished the discussions to remain confidential until something definite was agreed- one way or another. I have maintained that confidentiality. However, given my awareness of incorrect inferences being drawn in the media I would like to make a limited statement at this time." He must have known it was Rangers that gave the story to the press last week , with JT phoning everyone of the main sports papers editors personally to tell them ,bizarre I'd be inclined to substitute Easdales for Rangers and I for T. Calling up Editors claiming that the AIM market would block the return of King smacks of desperation. Shockingly one of them had the wit to call AIM and ask only to be told it's not part of AIM's realm. 0 Quote Link to post Share on other sites More sharing options...
andy steel 0 Posted October 13, 2013 Share Posted October 13, 2013 I'm lost again. Too much smoke & mirrors for me, I'm afraid. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,716 Posted October 13, 2013 Share Posted October 13, 2013 You'd hope that they can clear this mess up before the turn of the year. It may actually take longer than the team winning promotion, I'm afraid. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,720 Posted October 14, 2013 Share Posted October 14, 2013 DAVE KING made the following statement on 12 October 2013: "I confirm that I held talks with Rangers Chief Executive Craig Mather and Finance Director Brian Stockbridge in South Africa. I wished the discussions to remain confidential until something definite was agreed- one way or another. I have maintained that confidentiality. However, given my awareness of incorrect inferences being drawn in the media I would like to make a limited statement at this time. "The discussions were, to my mind, very positive and it was agreed that subject to the normal regulatory approval I would put my name forward to join the Board and to serve as Chairman. "Such an appointment is of course subject to the approval of the existing Board members and ultimately the shareholders of the company. There are also mandatory regulatory requirements that must be complied with and take time. I have already submitted all the necessary documentation. "News of the meeting has found its way into the public domain and this has unsurprisingly resulted in speculation as to the nature and the outcome of the meeting. In reaction to this speculation and to give some clarity to the club's fans I would like to address a couple of points at this time. "First, my willingness to become part of the future of the football club is based simply on my love for the club and my desire to support the club with a combination of my business expertise and my willingness to make a further investment. "In particular I see a present need to utilise the time we have over the next few seasons to be prepared, both financially and on the pitch, to compete with our Glasgow neighbours when we get back to the top League. "My involvement is not linked in any way to any other individual, albeit I have my private thoughts as to certain individuals that might add value to the club going forward. Ultimately it is for the shareholders to make such decisions. The recent settlement of my litigation in South Africa removes any impediment to my appointment to the board. "I want to make it clear that I agreed to join the Board only after intensive and detailed discussions with the existing executives and because I believe I can help them by playing a significant role in driving Rangers forward and finally putting the past behind us. "It is sad that every month of the continued disunity between the fans and other stakeholders is eroding our ability to be ready for the step up to the premier league. We do not have time to waste. "It was also made clear by Mr Mather and Mr Stockbridge that Rangers are not in need of an immediate financial injection but we agreed that now is the time to commence a new round of funding to ensure that it is available in an orderly and cost effective manner when required. I wish to lead that fund raising exercise and being on the Board will greatly assist me in that regard. "I believe that the timing is right for me to take this step and I look forward to the opportunity to work with the current directors albeit I would have preferred to have my appointment confirmed prior to communicating my further thoughts. Unfortunately the rumour mill necessitated this short statement. If matters proceed as I hope over the next few days then I will be present at the AGm." At the insistence of our Nominated Adviser, the Board needs to make it clear, for regulatory reasons, that the Board of directors referred to above is The Rangers Football Club Limited, the wholly owned subsidiary of The Rangers International Football Club PLC. Although we welcome the support of Dave King no decision has been made to appoint him as a Director. There are regulatory matters which would need to be resolved prior to any such appointment. The Directors also expect that in the medium term future, possibly coinciding with the return to top league football in Scotland, it may be in the best interests of the Company to raise further capital. However, there is no requirement for short term funding, and as such neither the Company nor RIFC are actively seeking finance. Nonetheless, we are committed to exploring a future involvement by Mr King in the Club http://rangers.co.uk/news/headlines/item/5274-dave-king-statement 0 Quote Link to post Share on other sites More sharing options...
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