the gunslinger 3,366 Posted February 13, 2014 Share Posted February 13, 2014 what about resolutions 9 and 10 was it at the agm? the power to issue new shares. 0 Quote Link to post Share on other sites More sharing options...
ThatsWhyWeirChamps 0 Posted February 13, 2014 Share Posted February 13, 2014 what about resolutions 9 and 10 was it at the agm? the power to issue new shares. Only one of them passed. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted February 13, 2014 Share Posted February 13, 2014 yeah i remember that but what did it mean? frankly i wouldn't be surprised if the board were lying about the unissued shares to the rst. the less fans with shares the better as far as that lot are concerned. 0 Quote Link to post Share on other sites More sharing options...
ThatsWhyWeirChamps 0 Posted February 13, 2014 Share Posted February 13, 2014 yeah i remember that but what did it mean? frankly i wouldn't be surprised if the board were lying about the unissued shares to the rst. the less fans with shares the better as far as that lot are concerned. It means they have the right to have a share issue, but not the right to have it closed off to only one or two individuals. Which means they can't just sell shares to Sandy Easdale at 1p/pop and they can't just offer shares to Dave King either. The entire shareholding base has to be given the right to an quitable increase in their existing holding before anyone like King can be offered shares. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted February 13, 2014 Share Posted February 13, 2014 seems fair enough. king can just underwrite it and then he gets anything that isn't bought by existing shareholders and rangers get refinanced. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,348 Posted February 13, 2014 Share Posted February 13, 2014 The unsubsubcribed shares were scrapped. At no point was RIFC plc carrying unissued shares post-IPO. An RST board member has already previously tried to go down that route post-IPO. So you are saying that the authorised share capital of the company was changed after the IPO? Would that not require an ordinary resolution at an AGM and Companies House to be notificed? Or are you saying that the shares available at the time of the IPO are no longer available but are still included in the authorised share capital of the company? 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,348 Posted February 13, 2014 Share Posted February 13, 2014 yeah i remember that but what did it mean? frankly i wouldn't be surprised if the board were lying about the unissued shares to the rst. the less fans with shares the better as far as that lot are concerned. IIRC the oldco shares that the RST got were available to them because of a specific resolution passed at the time of the share issue, which allowed the club to allocate them subsequently. If the resolution was not passed at the time of the IPO then it probably wouldn't matter whether there were unissued shares or not. The board would not have the ability to issue them to the RST anyway. 0 Quote Link to post Share on other sites More sharing options...
ThatsWhyWeirChamps 0 Posted February 13, 2014 Share Posted February 13, 2014 So you are saying that the authorised share capital of the company was changed after the IPO? Would that not require an ordinary resolution at an AGM and Companies House to be notificed? Or are you saying that the shares available at the time of the IPO are no longer available but are still included in the authorised share capital of the company? The available shares, which were unsubscribed, were scrapped. At no point post-IPO (when the shares became reality) did the shares exist. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,348 Posted February 13, 2014 Share Posted February 13, 2014 The available shares, which were unsubscribed, were scrapped. At no point post-IPO (when the shares became reality) did the shares exist. That doesn't actually answer any of the questions that I asked in the post that you quoted. Unissued shares don't, by definition, exist. Are they still included in the authorised share capital of the company? 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted February 13, 2014 Share Posted February 13, 2014 (edited) Just to go back to the OP for a moment, I do think it's commendable that the RST have been able to buy another 200,000 shares and I also think that it's instructive that according to plgsarmy aka the current and past Treasurer of the RST, they went against advice from DK in that respect. Whilst I am not offering an opinion on the scheme, for what it's worth I think it was a sound move to buy at the current price, since I agree that regardless of 3%, 5% etc the more shares you own the more influence you have. To that extent it is quite illuminating that the RST seem to put that ahead of considering where the money is going; whereas DK seems to take the opposite view. Some might be surprised to learn that I tend to agree with the RST on that. That said I am not convinced that ANY scheme offered by the RST will attract enough support to make a REAL difference because of it's well rehearsed baggage and internal divisions. To put it in perspective I think I am correct in saying that the RST now own almost exactly the same percentage of newco under BuyRangers (0.86%) as they did of oldco under Gersave (0.83%?) and there was around 6 figures in the Gersave account which I believe has been returned to the contributors. It would be very helpful if plgsarmy or anyone else who has the information could explain if the £52,000 was a balance from the IPO purchase or all from DD's or a mixture of both (as it appears) and how much they are raising per month by DD. Also if there is a new share issue, do the RST plan another campaign? I will be very interested to hear what is on offer tomorrow and the arguments for and against both schemes. Edited February 13, 2014 by BrahimHemdani 0 Quote Link to post Share on other sites More sharing options...
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