andy steel 0 Posted April 25, 2014 Share Posted April 25, 2014 At the current time the Company is not in a position to carry out a significant equity fundraising as the required shareholder authority that was requested at the AGM to enable the Board to allot shares on a non pre-emptive basis was not granted. Although this authority is routine for AIM traded companies, it was understandable at the time that it was not granted given the position of the business and the lack of apparent strategic direction. It does however mean that the Company is currently prevented from issuing small amounts of equity to third parties and new shareholders. The authority given to the Board at the AGM in December 2013 to enable the Company to allot up to 43,400,000 new ordinary shares of 1p each in the capital of the Company on a pre-emptive basis to existing shareholders has not been exercised to date. In the event that season ticket sales over the forthcoming weeks are materially less than anticipated then the Company may seek to use this pre-emptive authority which can offer a cost effective and efficient method of raising capital. This seems to highlight that as long as we have extensive share ownership by hedge funds it will be their interests, and not those of the club, which takes precedence. Continued negative external comment and campaigns have created significant operating difficulties and have been threatening the Club's orderly and progressive recovery. If they can't see that it has been the years of corporate mismanagement which have created operating difficulties then they truly deserve the epithet moron. However, they do know fine well where the problem lies and it is up to them to solve it - in one easy step, sacking both Easdales. They will be issuing redundancies elsewhere, well business is business and their tea's oot. A current example of the difficulty being faced by the Club, and which will regrettably impact upon supporters, is that for next season supporters will now be unable to pay for their season tickets by credit or debit card. The Club's merchant acquirer, which processes credit and debit card transactions, has advised that it would require extensive security, including standard security to be granted over Ibrox Stadium and an insurance policy at considerable cost to the Club, to protect itself against any potential liability arising from passing on monies from season ticket purchases ahead of next season's matches. Hopefully someone conversant in this field can work this out. The finance company only told Rangers what, yesterday? Or was it last week? Or last month? Why on earth is something of this importance included in a review, rather than being communicated ASAP? Why go through the whole process of the last few weeks re.renewals, then lob in this grenade, if they knew? And if they didn't know until let's say last night, what does that say about the view of the finance sector about the present incumbents? They can blame the fans all they like but they are the ones in office. When they talk about external pressures being to blame, they should look at how they've handled this unimportant little morsel of news and maybe look in the mirror. 0 Quote Link to post Share on other sites More sharing options...
pmu 0 Posted April 25, 2014 Share Posted April 25, 2014 Nerlinger probably has the credentials, football and sound business background. Could he change the culture that ally has created or perhaps just maintained, either way its his baby. A culture of slack standards, poor tactics, poor coaching, laundry mannie with perhaps way to much influence around the place.. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted April 25, 2014 Share Posted April 25, 2014 (edited) It's all a bit meh really. The goals are correct but our actions don't stack up with them. Maximise commercial revenue but sign a two year shirt deal with a third year option for just over what we are already getting. Re connect with our fan base but accuse them of disloyalty. Invest in youth meanwhile our manager won't play them and our board are so desperate for cash our whole youth squad is for sale. We will see if anything really changes. Edited April 25, 2014 by the gunslinger 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted April 25, 2014 Share Posted April 25, 2014 Ps 67 million spunked 10 of it on the first team. Holly fook batman 0 Quote Link to post Share on other sites More sharing options...
The Real PapaBear 0 Posted April 25, 2014 Share Posted April 25, 2014 Nerlinger probably has the credentials, football and sound business background. Could he change the culture that ally has created or perhaps just maintained, either way its his baby. A culture of slack standards, poor tactics, poor coaching, laundry mannie with perhaps way to much influence around the place.. I don't know enough about Nerlinger's post playing career, but my gut reaction to this is "moonbeams" 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,114 Posted April 25, 2014 Author Share Posted April 25, 2014 In 2008/9, this website commissioned a fan review into operations at the club and our report is still available for download here: http://www.gersnetonline.co.uk/STS_Full.pdf It's damning that five years later, the same issues are prevalent and the business review lacks the same detail volunteers were able to contribute. 0 Quote Link to post Share on other sites More sharing options...
Waltersgotstyle 297 Posted April 25, 2014 Share Posted April 25, 2014 Does this report really offer anything we don't already know? A vote for a share issue in the autumn - do you we think we can hobble along until then? Meanwhile "improve" the playing squad? 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,114 Posted April 25, 2014 Author Share Posted April 25, 2014 Does this report really offer anything we don't already know? A vote for a share issue in the autumn - do you we think we can hobble along until then? Meanwhile "improve" the playing squad? As it stands the club looks likely to run out of money very soon. That's why credit card companies will not deal with us. 0 Quote Link to post Share on other sites More sharing options...
True_Ger_1872 2 Posted April 25, 2014 Share Posted April 25, 2014 As it stands the club looks likely to run out of money very soon. That's why credit card companies will not deal with us. I dont think that the reason they wont deal with us is about the uncertainty about the fans witholding monies - it will be a reaction to the recent press and actions about the club running out of cash. Ticketus were shafted previously, there is no way another provider will support us with a possible admin event occurring! 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,114 Posted April 25, 2014 Author Share Posted April 25, 2014 Press conference at 1pm should be interesting. I don't think it's fair to hold Wallace responsible for others' mistakes but his review lacks detail and he must know his employers were, at least, partly responsible. The issue of fan trust and renewals will now make or break the club. 0 Quote Link to post Share on other sites More sharing options...
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