the gunslinger 3,366 Posted June 24, 2014 Share Posted June 24, 2014 This will be a rights issue, RAB, which means that even if he underwrites it, he will only be able to buy shares not taken up by existing shareholders. If all the institutions take up their rights but none of the individual shareholders then that would be about 12%, which would leave him with 6% of the Club. The non take up has been variously estimated at 10%-20, giving him say 5%-10%. That would only cost about £1m - £2m, petty cash to him apparently. But you are correct to say that if he at least came out publicly and said he would buy any shares not taken up (and I believe he may have done that in that past, no doubt GS will confirm) then he would put some pressure on the Board to allow him to underwrite the offer. King won't be allowed near this share issue and it will be designed so king has no choice but to make greenco rich if he wants control. Rangers will be all the poorer after it. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted June 24, 2014 Share Posted June 24, 2014 In your calculations, you're assuming a 1 for 1 rights issue but that may not be the case. Yes that's true BD. I forgot that as I have mentioned before 2 for 3 is more likely given 65.10m in issue and 43.4m unissued. So IF Mr King was willing and able to buy 10% of the rights issue that would represent 4% of the Club. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted June 24, 2014 Share Posted June 24, 2014 Rangers will be all the poorer after it. How do you work that out? 0 Quote Link to post Share on other sites More sharing options...
charltonman 19 Posted June 24, 2014 Share Posted June 24, 2014 Guys , I don't think an individual can underwrite a rights issue or an IPO. Sent from my iPhone using Tapatalk 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted June 24, 2014 Share Posted June 24, 2014 How do you work that out? If greenco get more control. Because I'm not 6 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted June 24, 2014 Share Posted June 24, 2014 Guys , I don't think an individual can underwrite a rights issue or an IPO. Sent from my iPhone using Tapatalk I bow to your expertise; could he do it through one of his many companies, if so presumably it would have to be one registered in the UK? 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted June 24, 2014 Share Posted June 24, 2014 If greenco get more control. Because I'm not 6 How would any existing investor get more control from a rights issue unless they underwrote it and picked up shares that were not taken up. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted June 24, 2014 Share Posted June 24, 2014 Or if they just hand the shares out in some dodgy fashion. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,260 Posted June 24, 2014 Share Posted June 24, 2014 Or if they just hand the shares out in some dodgy fashion. Well let's hear from Mr King. No more grandstanding on the sidelines. Come out publicly(preferably not the BBC or Rhecord) and tell us how much you are prepared to invest in Rangers presumably at the next share issue. No more excuses. You know what you have to do to take control at Rangers. Get on with it or stop this constant circus on the sidelines which I must admit has gone rather quiet lately 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted June 24, 2014 Share Posted June 24, 2014 Or if they just hand the shares out in some dodgy fashion. Can you be specific about what you think they might do that would be "dodgy"? I believe they can be selective though I don't know the rules. 0 Quote Link to post Share on other sites More sharing options...
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