BrahimHemdani 1 Posted January 10, 2014 Share Posted January 10, 2014 BH ... so you would assume that King could only step into the place if he passes the "fit & proper stuff" and if that is unlikely, he either won't invest or become some Romanov style character, who acts from behind the fence errected by the SFA? Likewise, what could be the reason that we, not least in the state we are aparently, do not have some deal with a bank / finance institution, some credit facility et al running for 5 to 10 years at a reasonable rate by now? Ain't it business-wise perilous not to have such a fall-back option, whether we use it or not? Yes to both; and on the second point, it is, in my opinion, but it depends on the price you have to pay for the facility. I know another company in exactly the same position who had a big overdraft which they managed to pay off and would like a facility "just in case"; but the fee demanded by the bank (because they have to set aside the money i.e. they can't lend it to anyone else, even if you don't take it up) is prohibitive. Rangers will be in a much stronger position to borrow, if required, once we are back in the SPPL/Europe but wouldn't it be wonderful if we could do that and remain debt free? 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted January 10, 2014 Share Posted January 10, 2014 we have a 2.5 million quid overdraft facility. given the boards previous wonga loans from their pals i shudder to think who it is from and at what rates though. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted January 10, 2014 Share Posted January 10, 2014 http://www.heraldscotland.com/mobile/news/home-news/16m-is-wiped-off-value-of-rangers.23131489 MORE than £16 million has been wiped off Rangers' value on the stock market in the last four months amid a battle for power in the Ibrox boardroom. Fans have seen their shares lose almost half their value since September and the latest figures suggest continuing concerns among investors over the way the Scottish League One club is being run. Rangers International Football Club (RIFC) shares closed at 31p yesterday, after reaching 30.4p at one point. That price was down 44.5% from the 55p reached in September at the height of shareholder disquiet over the administration of the club. The market value of RIFC has dipped from £35.8m to finish yesterday at its lowest in its first year, at £19.9m. The slump has wiped more than 50% off the value of holdings of fans and investors who bought into a share issue in December 2012, when they were on offer for 70p. The Rangers board won their power struggle against a group seeking change, led by former director Paul Murray. Fans believe the only people to gain are past and present executives who managed to get shares for 1p. Former chief executive Charles Green purchased five million shares in Rangers at 1p each as part of an agreement entered into on October 31, 2012. Drew Roberton, of the Rangers Supporters' Association, said the continuing share decline raised continuing concerns about the financial state of the club. "It is worrying," he said. "The devil in me says, well, that tells the investors that you reap what you sow by backing the board. "It's perhaps time for all those people who supposedly care so much about the club to put their hands in their pockets and get control of the club that way. "I would not like to think that, as some people fear, we are heading to another insolvency event." Chief executive Graham Wallace indicated that the club was entering a prolonged period of austerity at December's AGM when he, current chairman David Somers, under-fire finance director Brian Stockbridge and three directors were re-elected. The four so-called requisitioners - former Rangers oldco director Paul Murr-ay, former chairman Malcolm Murray, Alex Wilson and Scott Murdoch - all polled close to 30% of votes to scupper their hopes. But despite a mandate from shareholders, the fall-out from the meeting had Rangers supporters and fans' representatives talking about boycotts and refusing to renew season tickets. Rangers declined to comment. 0 Quote Link to post Share on other sites More sharing options...
craig 5,195 Posted January 10, 2014 Share Posted January 10, 2014 Which is why I cannot understand King waiting and waiting and waiting. He can buy the club's share "on the cheap" now, has probably a low interest in selling them anytime soon and slowly but steadily could get the club - still "on the cheap" - back from those hedge fonds chaps and whatnot. IF he cared fore the club in the way he likes to point out, he should step over his shadow (if only for this one instant in his life) and slowly but steadily out of our current state. That said, he could also buy/lease-back Ibrox or act as financial backer for the club (not the company / board) for the time being. How could King steadily get the shares from the hedge funds "on the cheap" - if they are not prepared to sell then he wont be getting ANY of their shares. And with the amount of shares in issuance, as well as knowing who owns a chunk of those shares, it is unlikely that King would get enough to be able to control Rangers. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted January 10, 2014 Share Posted January 10, 2014 f'sister, I couldn't understand your post till I realised that what you mean, I think, is "there is no great desire by large shareholders to sell/deal at a price that is acceptable to someone like King ". With that alteration, I agree. Edit: see #24 below; he may well see 30p as too big a risk; somewhere in the region of 10p-20p could well be right. You are indeed correct in your assumption. Apologies for the poor spelling and grammar.... 0 Quote Link to post Share on other sites More sharing options...
craig 5,195 Posted January 10, 2014 Share Posted January 10, 2014 BH ... so you would assume that King could only step into the place if he passes the "fit & proper stuff" and if that is unlikely, he either won't invest or become some Romanov style character, who acts from behind the fence errected by the SFA? Likewise, what could be the reason that we, not least in the state we are aparently, do not have some deal with a bank / finance institution, some credit facility et al running for 5 to 10 years at a reasonable rate by now? Ain't it business-wise perilous not to have such a fall-back option, whether we use it or not? If you ran a bank would you loan money or offer a credit facility to an institution which was placed into administration, to be followed by liquidation, then re-incorporated as a new entity, to then make a 14 million pound loss in your first year of trading, whilst operating in the lower reaches of your chosen industry ? I know I wouldnt. Any banker should give serious consideration to the Rangers business as it currently stands. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted January 10, 2014 Share Posted January 10, 2014 It's no coincidence that Green and Ahmad got out early selling off their free shares for millions. They probably knew fine well that the arse would fall out and the share price would tank, so their bumper share bonuses needed cashed in at the earliest opportunity. Funnily enough, both of their exits from the club always appeared to be manufactured and staged. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,239 Posted January 10, 2014 Share Posted January 10, 2014 If you ran a bank would you loan money or offer a credit facility to an institution which was placed into administration, to be followed by liquidation, then re-incorporated as a new entity, to then make a 14 million pound loss in your first year of trading, whilst operating in the lower reaches of your chosen industry ? I know I wouldnt. Any banker should give serious consideration to the Rangers business as it currently stands. Backed against e.g. Auchenhowie, if not Ibrox? That's how they usually work (with private people), don't they? 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted January 10, 2014 Share Posted January 10, 2014 Backed against e.g. Auchenhowie, if not Ibrox? That's how they usually work (with private people), don't they? The first thing any banker would or certainly should look at is your ability to repay, the security required is secondary; banks don't want to be in the business of foreclosing loans. 0 Quote Link to post Share on other sites More sharing options...
Steve1872 4 Posted January 10, 2014 Share Posted January 10, 2014 now @29p http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary.html?fourWayKey=GB00B90T9Z75GBGBXASQ1 0 Quote Link to post Share on other sites More sharing options...
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