BrahimHemdani 1 Posted June 25, 2014 Share Posted June 25, 2014 (edited) I'm not convinced the beneficiaries of the 19 odd million penny shares will want to pay 20 odd times their initial price simply to maintain their present percentage holdings, though it makes sense for those foolish enough to have forked out 70p or in some cases more. It also makes sense for Laxey to underwrite it and go for 29.9% and I doubt that could be the worst outcome. Anyway if they issue the 43m shares that just buys them a few months breathing space and they'll need to go to the open market sooner or later, I don't believe BPH will invest so much as a penny in the imminent rights issue, they're merelt taking their turn at trying to talk up the share price and flush out a buyer. It's so much more satisfying to engage with a reasoned and knowledgeable argument. Laxey underwriting it is a fair shout. I think you are suggesting they might not issue all 43m shares, perhaps 32.5m to go for a 1 for 2? Though I don't see the point of holding back 10m or so with the expenses of issuing them later. They need all the money they can get asap. As to a new issue, again perhaps, you may well be right. But I believe the ST renewals will be up to 20,000 -25,000 by the start of the season and then if say 10,000 - 15,000 come along game to game that would be an income of around £500,000/month so it would all depend on commercial income etc. If various parties have been talking up the share price then it's working because it is now back to 30p. Every penny extra that they can get for the rights issue is £430,000 to the coffers. Edited June 25, 2014 by BrahimHemdani 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,186 Posted June 25, 2014 Author Share Posted June 25, 2014 I don't doubt FS' appraisal of the current situation. Problem for King (and any other buyer) is that if the club ownership can muddle though to next summer (and the Premiership) then everything changes again - most importantly the price. King doesn't mind playing the long game (see Gary Player and SARS) but I'd expect him to make some sort of move soon(ish). To be honest, it wouldn't surprise me if he's already reached some sort of agreement with Laxey. But that may depend on other interest... 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted June 25, 2014 Share Posted June 25, 2014 It's so much more satisfying to engage with a reasonsed and knowledgeable argument. . than arguing semantics, pretending not to understand words and demanding proof of everything? 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted June 25, 2014 Share Posted June 25, 2014 than arguing semantics, pretending not to understand words and demanding proof of everything? I'll certainly keep challenging your blind faith in Mr King and his £30/50m. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted June 25, 2014 Share Posted June 25, 2014 Frankie;496198]Problem for King (and any other buyer) is that if the club ownership can muddle though to next summer (and the Premiership) then everything changes again - most importantly the price. I was tempted top add a line like that to #161. I expect the Board to do everything they possibly can to get through this season without a new share issue because then, as you suggest, it will be a new ball game. King must know that if he doesn't act before then his chances of ownership will have dropped dramatically, Ibrox 1972 Ltd will be history, I would expect ST renewals at or above previous levels and much increased corporate sales for our return to the SPL, the path to Europe and the first old firm games for 4 years. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,060 Posted June 25, 2014 Share Posted June 25, 2014 It's so much more satisfying to engage with a reasonsed and knowledgeable argument. Laxey underwriting it is a fair shout. I think you are suggesting they might not issue all 43m shares, perhaps 32.5m to go for a 1 for 2? Though I don't see the point of holding back 10m or so with the expenses of issuing them later. They need all the money they can get asap. As to a new issue, again perhaps, you may well be right. But I believe the ST renewals will be up to 20,000 -25,000 by the start of the season and then if say 10,000 - 15,000 come along game to game that would be an income of around £500,000/month so it would all depend on commercial income etc. If various parties have been talking up the share price then it's working because it is now back to 30p. Every penny extra that they can get for the rights issue is £430,000 to the coffers. I'm not suggesting they won't issue the 43m shares I'm suggesting they won't all be picked up in proportion as the interests of the shareholders as currently set up are not in alignment. I don't doubt season ticket sales will pick up before a bit kick off but will still be substantially down as for those going match to match I very much doubt it will reach the heady heights of 10-15k that often ( just look at the amount of season ticket holders that weren't turning up last season) allied to the fact the cost base has still to be confronted in a meaningful form which will leave us back where we're at when the rights issue monies have been churned through. As you'll be aware it's quite easy to manipulate the share price of stocks with very little liquidity but that works in both directions. 0 Quote Link to post Share on other sites More sharing options...
Anchorman 0 Posted June 25, 2014 Share Posted June 25, 2014 I'll certainly keep challenging your blind faith in Mr King and his £30/50m. EDITED: Let's keep it friendly please - Frankie 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted June 25, 2014 Share Posted June 25, 2014 I'm not suggesting they won't issue the 43m shares I'm suggesting they won't all be picked up in proportion as the interests of the shareholders as currently set up are not in alignment. I don't doubt season ticket sales will pick up before a bit kick off but will still be substantially down as for those going match to match I very much doubt it will reach the heady heights of 10-15k that often ( just look at the amount of season ticket holders that weren't turning up last season) allied to the fact the cost base has still to be confronted in a meaningful form which will leave us back where we're at when the rights issue monies have been churned through. As you'll be aware it's quite easy to manipulate the share price of stocks with very little liquidity but that works in both directions. Wouldn't taken great issue with any of that. However a more competitive league and especially games v Hearts and Hibs will, I believe, bring out more spectators than watching the likes of Arbroath second time around. Equally there will be some games that will not draw much more than 25/30,000. However, if we are in a top of the table clash with either of the Edinburgh teams, would you bet against a full or near full house? I don't expect us to run away with this division, certainly not before Christmas, and the closer it is the higher the attendances will be. 0 Quote Link to post Share on other sites More sharing options...
Calgacus 8 Posted June 25, 2014 Share Posted June 25, 2014 I was tempted top add a line like that to #161. I expect the Board to do everything they possibly can to get through this season without a new share issue because then, as you suggest, it will be a new ball game. King must know that if he doesn't act before then his chances of ownership will have dropped dramatically, Ibrox 1972 Ltd will be history, I would expect ST renewals at or above previous levels and much increased corporate sales for our return to the SPL, the path to Europe and the first old firm games for 4 years. and then they'll plummet after Celtic win all 4 old firm games and we finish 20 points behind them. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,060 Posted June 25, 2014 Share Posted June 25, 2014 Wouldn't taken great issue with any of that. However a more competitive league and especially games v Hearts and Hibs will, I believe, bring out more spectators than watching the likes of Arbroath second time around. Equally there will be some games that will not draw much more than 25/30,000. However, if we are in a top of the table clash with either of the Edinburgh teams, would you bet against a full or near full house? I don't expect us to run away with this division, certainly not before Christmas, and the closer it is the higher the attendances will be. I imagine the quality of fayre will have a lot to do with that as those going match to match are the ones who'll needed to be 'persuaded' to attend and I have my doubts that McCoist can or will play the kind of football that will entice non season ticket holders to attend. Defeat at home against Hearts at home in the opener would have a knock on effect attendance wise. TV can and most probably will have an effect attendance wise for non season ticket holders as it'll certainly muck us around switching kick off times and days, Sunday 12.30 against Hearts won't harvest what a Saturday 3pm will. Personally I don't think Hibs will be much of a threat and I don't expect them to be in the top three. 0 Quote Link to post Share on other sites More sharing options...
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