buster. 4,808 Posted May 7, 2014 Share Posted May 7, 2014 In an Open Letter referred via a regulatory notice to the markets on the 6th of December 2013, Mr.Somers also informed readers and investors that the 'business review' was already underway looking at every contract at the club (RIFC). This came around two weeks before the 120 day timescale was mentioned and kicked off. So the 127 was really at least 141 days. The timescale was a sham at 120 but they thought they'd get away with a few more 'under the radar'. Trust this lot ?...........aswell buying a second hand car from a gypo. Misleading (deliberate) or dishonest ? Extract from open letter dated 6th of December 2013Let me also say that Graham Wallace and I are beginning a complete review of every contract that is in place. You can imagine that this is going to take weeks and then more time where contracts need to be changed. I have been on board four weeks yesterday and Graham less than that, but we have already begun this critical process. http://www.rangers.co.uk/news/headlines/item/5759-an-open-letter-from-the-chairman'>http://www.rangers.co.uk/news/headlines/item/5759-an-open-letter-from-the-chairman Regulatory notice to marketsThe Chairman of RIFC has issued an open letter to shareholders, which will be published on the website http://www.rangers.co.uk today. The letter addresses certain misleading and defamatory statements which have appeared in the press recently. http://rangers.g3dhosting.com/regulatory_news_article/359 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted May 7, 2014 Share Posted May 7, 2014 probably a spot of insider trading. him knowing hes about to get two shares for every one he currently has. How do you calculate that? Anyway, if it's a rights issue he'll have to pay for them and I don't see how it can be a scrip issue since there are no profits to distribute that way. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted May 7, 2014 Share Posted May 7, 2014 probably a spot of insider trading. him knowing hes about to get two shares for every one he currently has. That's a pretty serious allegation. Any facts to back that up? 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted May 7, 2014 Share Posted May 7, 2014 (edited) I think it's nothing more than an attempt to give an impression of confidence that had an added bonus of boosting the price in a market with thin volume, it wouldn't be a shock to see other directors making similar purchases in the days/weeks ahead. Edited May 7, 2014 by forlanssister Crap grammar! 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted May 8, 2014 Share Posted May 8, 2014 That's a pretty serious allegation. Any facts to back that up? wasn't it you who predicted this? or was it forlan? what price do you think he will pay? 0 Quote Link to post Share on other sites More sharing options...
buster. 4,808 Posted May 8, 2014 Share Posted May 8, 2014 wasn't it you who predicted this? or was it forlan? what price do you think he will pay? If Mr.Somers actually pays out of his own pocket and somehow isn't reimbursed or provided guarantees it would go against the MO of recent times. When you consider timing, the PR campaign (spin) that is in play and that it almost certainly wasn't something that DSomers suddenly thought a good investment after 6 months as chairman then I wonder............... 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,245 Posted May 8, 2014 Share Posted May 8, 2014 So the 127 was really at least 141 days.The timescale was a sham at 120 but they thought they'd get away with a few more 'under the radar'. Actually, who cares? They announced that they'll do a review and said it will take 120 days. As this was more or less a voluntary excercise and timeline given by them - they are and were well within their rights to cut it short or extend it. You can ask why it took them that long or what they did, but this argument would have been the same had they made it 30, 60 or 200 days. As long as the results are useful and lead to change to what happened before, I didn't mind whether they take less or more time for it. 0 Quote Link to post Share on other sites More sharing options...
True_Ger_1872 2 Posted May 8, 2014 Share Posted May 8, 2014 Could this purchase of shares be due to Somers trying to position himself to be a candidate to receive some of the shares pro rata from a new share issues should this come to play? This would perhaps safeguard the club against other getting an opportunity to increase the shareholdings? 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted May 8, 2014 Share Posted May 8, 2014 Alasdair Lamont @BBCAlLamont 20m Having bought 35,000 Rangers shares yesterday, chairman David Somers buys another 12,000 today. Meanwhile share price is creeping back up. 0 Quote Link to post Share on other sites More sharing options...
buster. 4,808 Posted May 8, 2014 Share Posted May 8, 2014 Alasdair Lamont @BBCAlLamont 20mHaving bought 35,000 Rangers shares yesterday, chairman David Somers buys another 12,000 today. Meanwhile share price is creeping back up. Is this a 'delayed rebound' on shareprice ? At court on tuesday........... Alasdair Lamont @BBCAlLamont 2 minAffidavit from Peter Shea of Nomad Daniel Stewart includes the line: "The share price has rebounded quite satisfactorily." Not sure abt that Curious figures to be "satisfactory" GW arrival............... 42p Day of Review.........21p Has "rebounded" to 22p 0 Quote Link to post Share on other sites More sharing options...
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