the gunslinger 3,366 Posted April 14, 2014 Share Posted April 14, 2014 DK won't buy out GreenCo/Easdale. DK only prepared to invest if the board can find no other sources of investment. I'm deeply suspicious that DK won't be the messiah many expect him to be. How much is he worth anyway? Does anyone know? 750 million last time I saw a figure. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,258 Posted April 14, 2014 Share Posted April 14, 2014 750 million last time I saw a figure. I don't think he's worth anywhere near that otherwise he'd have bought Rangers long ago 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted April 14, 2014 Share Posted April 14, 2014 I don't think he's worth anywhere near that otherwise he'd have bought Rangers long ago SARS described him as the richest man in SA. But if you have info otherwise. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,258 Posted April 14, 2014 Share Posted April 14, 2014 SARS described him as the richest man in SA. But if you have info otherwise. Would be really interested to see that written somewhere......... 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted April 14, 2014 Share Posted April 14, 2014 http://www.fin24.com/Business/Dave-King-richest-in-SA-State-20060803 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted April 14, 2014 Share Posted April 14, 2014 Like Edmiston House and the Albion car park being purchased for over £2.4m last year and then put up as security for £1.5m credit/loan facilities a year later? Not at all Zappa. That's about a normal ratio: the loan is 62.5% of the assets pledged. The properties are in the books at £43 million, so let's say £40 million ex the the above (not sure if the Albion would be freehold). Let's concede for a moment that the ST trust money would be a loan to the club, which I do not accept but let's go with that anyway. How much is it likely to be? Even GS doesn't think it will amount to more than a few hundred people; most on here say they will just keep their money in the bank pro tem. So what would be your best guess, a million, two million, that would need about 5,000 people, highly improbable I would suggest; but again let's go with that. So what you are asking is that the Board pledge £40 million of assets for a £2 million loan but most likely a lot less. That's 5% loan to value. A more realistic estimate is say 1,000 people which would mean the "loan" was 1% to value. Would you pledge your house for a 1% loan to value, no you wouldn't and neither will the direcors of RIFC. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted April 14, 2014 Share Posted April 14, 2014 Still no counter statement from the board, or an answer to the four questions? Is it Jack's day off? No need for them to answer, Mr King is not a shareholder. 0 Quote Link to post Share on other sites More sharing options...
TheTinMan99 0 Posted April 14, 2014 Share Posted April 14, 2014 No need for them to answer, Mr King is not a shareholder. Ah, so only shareholders are entitled to ask reasonable questions, and expect answers? I note that since I made that post that the board have indeed released a short statement, informing us that an update about the 120 review will be issued on the final working day before the right to cancellation is due. I look forward to your justifying of this, considering your recent stance about supporters being given the 120 review in plenty of time before their renewal date. It also seems they have decided to use the 'fingers in ears, la la la' method, in regards to the four questions. But hey, he's not a shareholder so it's fine. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted April 14, 2014 Share Posted April 14, 2014 Ah, so only shareholders are entitled to ask reasonable questions, and expect answers? I note that since I made that post that the board have indeed released a short statement, informing us that an update about the 120 review will be issued on the final working day before the right to cancellation is due. I look forward to your justifying of this, considering your recent stance about supporters being given the 120 review in plenty of time before their renewal date. It also seems they have decided to use the 'fingers in ears, la la la' method, in regards to the four questions. But hey, he's not a shareholder so it's fine. They have released a statement in response to ST holders concerns. Contrary to popular opinion I am not here to support or answer for the Board and I agree that the timing is unacceptable. I also agree that the statement made by Mr Wallace at the AGM requires clarification. However , not only is Mr King not a shareholder but he has stated publicly that he does not wish to invest in the Club if others can be found. So you tell me, why should the Board answer his questions? 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted April 14, 2014 Share Posted April 14, 2014 Not at all Zappa. That's about a normal ratio: the loan is 62.5% of the assets pledged. The properties are in the books at £43 million, so let's say £40 million ex the the above (not sure if the Albion would be freehold). Let's concede for a moment that the ST trust money would be a loan to the club, which I do not accept but let's go with that anyway. How much is it likely to be? Even GS doesn't think it will amount to more than a few hundred people; most on here say they will just keep their money in the bank pro tem. So what would be your best guess, a million, two million, that would need about 5,000 people, highly improbable I would suggest; but again let's go with that. So what you are asking is that the Board pledge £40 million of assets for a £2 million loan but most likely a lot less. That's 5% loan to value. A more realistic estimate is say 1,000 people which would mean the "loan" was 1% to value. Would you pledge your house for a 1% loan to value, no you wouldn't and neither will the direcors of RIFC. But ibrox was recently bought for about a million...... 0 Quote Link to post Share on other sites More sharing options...
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