BrahimHemdani 1 Posted July 19, 2014 Share Posted July 19, 2014 What exactly does he need to do to earn this bonus I.e. What performance targets need to be met? Does anyone know? Apparently not stated in his contract other than 50/50 split between personal and company perfromance. Criteria, if any, set by remuneration committee. I would think they would be wise to publish the criteria but it appears that it is not a legal requirement for AIM companies. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted July 19, 2014 Share Posted July 19, 2014 Yes the Notes form part of the accounts. There was an error inthe Notes that has now been corrected. The figures were correct or at least have not been challenged. So incorrect accounts and lies from the chairman at the AGM all to allow Stockbridge to get rich. Hmmmm 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,061 Posted July 19, 2014 Share Posted July 19, 2014 I want to see operating costs down, footballing costs down, salaries down. No one off payments, no pay offs, no bonuses etc. That will be progress. You may well see one of the six at best. The accounts were not inaccurate, there was an error in the Notes; that does not make the Accounts themselves inaccurate. They most certainly were inaccurate, they stated there was a £2.5m unsecured credit facility without that it's doubtful they would have achieved going concern status. The director who signed off the accounts did not give the auditors the full information regarding the share options from which he surprise, surprise personally benefited from. The auditors failed to notice the inclusion of share options in the IPO prospectus and the contracts of Stockbridge,Mather, Green and perhaps even others. Even the RNS issued regarding Stockbridge's options was false as Green and Mather have contractual rights to share options and Wallace can receive his 100% bonus in shares if he so wishes, once again the price is undisclosed, a penny a pop would be a pretty accurate estimate I guess. If my understanding is correct they are not all in receipt of salaries as directors, perhaps FS could clarify exactly who gets what in terms of salary and bonuses. Certainly the Wallace bonus situation will be a big test, for sure he will get A+ for effort and we have to wait on the company performance. I suspect that some part of whatever is awarded will be deferred due to current finances. I doubt that it will be used as an excuse not to pay any aprt of whatever is awarded. However if he gets the full 100% he would be well advised to defer some and forego some more. If he is awarded and takes 100% there will be hell to pay and rightly so. Somers will receive what he calls and I quote "paltry" £70k plus all reasonable expenses per annum for his contracted 1-2 days per month, falling to £60k per annum after his first year by virtue of the fact his two months were at £10k per month falling to £5k per month from January. Crighton is on £40k per annum plus all reasonable expenses for doing the bidding of Laxey. James Easdale allegedly receives nothing, however his contract states £50k per annum plus all reasonable expenses. He was in fact drawing a salary from day one but apparently decided better of it and a rather peculiar addendum to his contract states his attention to repay it. Gary Ralston wrote that he repaid circa £12.6k but Rangers did not supply me with proof of repayment. Sandy Easdale allegedly receives nothing too but like his brother his contract states £50k plus all reasonable expenses, again there is a rather bizarre addendum to his contract which basically says, 'we haven't got Sandy's bank details for payment but it's ok he doesn't want anything anyway.' I assume everybody knows the details of Wallace's contract which will probably cost the club the fatter part of £1m per year if not more. I don't have the details of Philip Nash's contract but am led to believe it like the rest is lucrative. If i was CEO i would do everything in my power to change or cancel any onerous contracts, if i was unable i would make the fans aware of this. i wouldn't allow myself to be a scapegoat for others failings but i would make sure fans knew legally i done everything in my power to change things. Communication is key, fans must know we are trying. If he was serious he'd start with his own extremely onerous contract. For me the most ridiculous costs were on the playing side, i want to see a big change in that. Allys budget should have been cut by some margin. We will see if that has happened. We know his salary cut has for the meantime saved us a fortune, has his coaches who offer nothing also cut their wages in line with our current financial situation? We should know. Deferral rather than cut I'm led to believe. I believe we should still see some difference in the accounts mate, surely they are trying, we can't continue to live outwith our means. It's just impossible. We may well see a difference but don't believe the one offs and pay offs will vanish they'll simply be replaced by others of the same ilk. Agreed living beyond our means has to stop but I see no signs of or serious attempts at doing so. 0 Quote Link to post Share on other sites More sharing options...
Super Cooper 0 Posted July 19, 2014 Share Posted July 19, 2014 Thanks FS, much appreciated mate. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,061 Posted July 19, 2014 Share Posted July 19, 2014 A snippet from Sandy Easdale's contract, you've just got to laugh....... 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted July 19, 2014 Share Posted July 19, 2014 A snippet from Sandy Easdale's contract, you've just got to laugh....... Presumably it's implicit that any such fraud or dishonesty would have to be post 11 September 2013. Whilst "been guilty of" could mean anytime, I doubt that would be a reasonable interpretation, otherwise he could not have been appointed. Loose wording nonethless. 0 Quote Link to post Share on other sites More sharing options...
Hildy 0 Posted July 19, 2014 Share Posted July 19, 2014 We will be back in the SPL next season or we will have a new manager; it might actually be preferable not to get promoted if it means Ally gets his P45. We should be back in Europe in 2016/17 or the season after depending on the above and the accounts. It could possibly be next season if we were to win the SC and get the dispensation. Things are pretty bad when Rangers fans are talking about it being preferable to miss out on promotion if it helps to get rid of Ally. We desperately need a change of management, but missing out on promotion would be catastrophic and the last straw for a support that is fed up following a club that has a poor manager, a poor captain and a poor board. The suspicion that Rangers is damaged goods, and maybe even a spent force, will bed in and grow if promotion doesn't happen. Most perceptive observers know that Rangers is dysfunctional from top to bottom, but being stuck in a lower division would confirm it to all but the daftest. 0 Quote Link to post Share on other sites More sharing options...
gisabeer 409 Posted July 19, 2014 Share Posted July 19, 2014 any pics of today? how many attended? 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,461 Posted July 19, 2014 Share Posted July 19, 2014 Seemingly 2-3000 turned out 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,461 Posted July 19, 2014 Share Posted July 19, 2014 0 Quote Link to post Share on other sites More sharing options...
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