BEARGER 1,829 Posted February 21, 2014 Share Posted February 21, 2014 Update on poll result Is this email not displaying correctly? View it in your browser. Rangers Supporters Association, Assembly & Trust Statement The Rangers Supporters Association, Assembly and Trust have contacted the CEO Graham Wallace to ask for clarification on the proposed loan by directors and/or selected shareholders. It is of great concern that at the club's AGM in December 2013 Graham advised there was sufficient cash in the business for the club to be able to continue to trade in the short to medium term yet two months later we require a loan for working capital. We would also like assurances that the club have explored all options for attracting fresh investment and this is the best deal available to the club. On the day that the club launched a survey on listening to fans they have ignored shareholding fans overwhelming opposition to resolutions 9 & 10 at the club AGM. Resolution 9 seems to be being used to increase the influence of certain shareholders without affording the same option to others, which is an affront to shareholder democracy and rights. Friend on Facebook Follow on Twitter Forward to a Friend follow on Twitter | friend on Facebook | forward to a friend Copyright © 2014 The Rangers Supporters Trust, All rights reserved. You are receiving this email because you opted in at our website and you are currently a Rangers Supporters Trust Member or Follower Our mailing address is: The Rangers Supporters Trust RST / BuyRangers Administration Clydebank Glasgow, Scotland g80 United Kingdom Add us to your address book unsubscribe from this list | update subscription preferences 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,252 Posted February 21, 2014 Share Posted February 21, 2014 Is it not a fact all businesses need to borrow at some point ? Why would Rangers be so different? In days gone by we borrowed from Ticketus unless I'm mistaken. My only comment is that £1.5m seems a relatively small amount does it not? 0 Quote Link to post Share on other sites More sharing options...
Hildy 0 Posted February 21, 2014 Share Posted February 21, 2014 Is it not a fact all businesses need to borrow at some point ? Why would Rangers be so different?In days gone by we borrowed from Ticketus unless I'm mistaken. My only comment is that £1.5m seems a relatively small amount does it not? Not two months after saying this: "In the short-to-medium term there is sufficient cash within the club in order for it to continue trading on a normal basis." 0 Quote Link to post Share on other sites More sharing options...
Ser Barristan Selmy 222 Posted February 21, 2014 Share Posted February 21, 2014 Is it not a fact all businesses need to borrow at some point ? Why would Rangers be so different?In days gone by we borrowed from Ticketus unless I'm mistaken. My only comment is that £1.5m seems a relatively small amount does it not? We're borrowing money just to keep afloat. I'm not sure how many times we have to financially collapse before the penny drops. 0 Quote Link to post Share on other sites More sharing options...
TheTinMan99 0 Posted February 21, 2014 Share Posted February 21, 2014 Is it not a fact all businesses need to borrow at some point ? Why would Rangers be so different?In days gone by we borrowed from Ticketus unless I'm mistaken. My only comment is that £1.5m seems a relatively small amount does it not? Most legit businesses also search for the best possible deal on any loans if working capital is required. I think it's safe to assume that this wasn't the best deal for the benefit of the club. I think that's why many are annoyed at it. That's before you even start on the reasons that we actually need this 'loan'. It's a good statement from the RST. Would be nice to see more like it. 0 Quote Link to post Share on other sites More sharing options...
Ser Barristan Selmy 222 Posted February 21, 2014 Share Posted February 21, 2014 Most legit businesses also search for the best possible deal on any loans if working capital is required. I think it's safe to assume that this wasn't the best deal for the benefit of the club. I think that's why many are annoyed at it. That's before you even start on the reasons that we actually need this 'loan'. It's a good statement from the RST. Would be nice to see more like it. Money for future shares sounds very fishy as well, and it probably doesn't tell half the story. 0 Quote Link to post Share on other sites More sharing options...
Hildy 0 Posted February 21, 2014 Share Posted February 21, 2014 Money for future shares sounds very fishy as well It does indeed. A full explanation is required. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted February 21, 2014 Share Posted February 21, 2014 Is it not a fact all businesses need to borrow at some point ? Why would Rangers be so different?In days gone by we borrowed from Ticketus unless I'm mistaken. In days gone by we had a hell of a lot more money coming into almost every aspect of the business from tickets right through to merchandising and sponsorship, so borrowing wasn't as big an issue as it is at the moment. My only comment is that £1.5m seems a relatively small amount does it not? We don't yet know how much that £1.5m could end up costing the Club in total. We also don't know if the previously arranged £2.5m loan facility has been (or will be) used or not. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,252 Posted February 21, 2014 Share Posted February 21, 2014 Not two months after saying this: "In the short-to-medium term there is sufficient cash within the club in order for it to continue trading on a normal basis." Fully agree. I got concerned when the players got asked to consider a wage cut. My point is though that virtually all businesses do borrow. I don't think we should be getting over concerned at this stage. Let's see where we are after the '120 day business review'. I'll wait til then before I make a full judgement on our CEO 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted February 21, 2014 Share Posted February 21, 2014 Good statement. 0 Quote Link to post Share on other sites More sharing options...
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