Frankie 8,150 Posted June 24, 2014 Share Posted June 24, 2014 Thought it worth expanding upon this on the main site as well as creating its own thread. http://www.gersnet.co.uk/index.php/latest-news/251-dave-king-disposes-of-15million-shares-in-micromega Amidst the usual club ownership speculation in the Scottish media, Gersnet notes that one point of possible relevancy that has been missed is that Dave King 'disposed' of over 15million shares in his MIRCOmega company last week (17th June). While it's important to highlight the company release mentioned the disposal was the 'off-market disposal of shares for no consideration', the amount of shares traded accounts for around £8.5million - a not insignificant sum in relation to Rangers Football Club and its possible forthcoming share issue. In the same week that MICROmega released 'excellent' provisional financial results for the year ending March 2014, it's certainly worthy of debate by all Rangers fans that Mr King has decided to make available a large portion of his shareholding to fellow directors. For what reason and why, feel free to follow the discussion on our forum. Lots of speculation about the relevance of this from it being unimportant to of utmost interest. Certainly seems worthy of discussion in any case. 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 8.5 million would certainly buy out greenco but he has said he won't do that. probably a tax dodge knowing king 0 Quote Link to post Share on other sites More sharing options...
compo 6,129 Posted June 24, 2014 Share Posted June 24, 2014 getting ready to buy something maybe 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,150 Posted June 24, 2014 Author Share Posted June 24, 2014 Whilst I was looking through MICROmega's most recent offerings, I did find the Nosa Global deal of earlier this year very interesting. Not only in noting King sold the company to MM to pay his SARS debts but the stuff about the 'specific requirement of this settlement was that Mr King’s family repatriate business assets that have been held overseas into South Africa'. I do wonder how that affects any investment into Rangers and/or how he'd go about raising capital therein. http://www.iol.co.za/business/companies/micromega-ticks-off-all-conditions-of-nosa-deal-1.1637807 0 Quote Link to post Share on other sites More sharing options...
compo 6,129 Posted June 24, 2014 Share Posted June 24, 2014 we would need a first class stock market man to explain this in plain simple English 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 Whilst I was looking through MICROmega's most recent offerings, I did find the Nosa Global deal of earlier this year very interesting. Not only in noting King sold the company to MM to pay his SARS debts but the stuff about the 'specific requirement of this settlement was that Mr King’s family repatriate business assets that have been held overseas into South Africa'. I do wonder how that affects any investment into Rangers and/or how he'd go about raising capital therein. http://www.iol.co.za/business/companies/micromega-ticks-off-all-conditions-of-nosa-deal-1.1637807 i would imagine it's all about stopping him hiding assets overseas. to repatriate it would have to have been south african at one point. so it doesn't affect rangers. but what it does to him raising capital is indeed unclear. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,150 Posted June 24, 2014 Author Share Posted June 24, 2014 i would imagine it's all about stopping him hiding assets overseas. to repatriate it would have to have been south african at one point. so it doesn't affect rangers. but what it does to him raising capital is indeed unclear. I don't fancy reading the ruling to find out how it affects the next year or two or if it's just historic deals/business. Would/Could Micromega just look to invest in RFC in that case? Sure they don't have much interest in football clubs but they're now providing services for SA rugby clubs and MIH/MIM hardly had a huge sporting background in the late 80s... 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 I don't fancy reading the ruling to find out how it affects the next year or two or if it's just historic deals/business. Would/Could Micromega just look to invest in RFC in that case? Sure they don't have much interest in football clubs but they're now providing services for SA rugby clubs and MIH/MIM hardly had a huge sporting background in the late 80s... depends how much of it dave king owns i expect but in theory yes i expect so. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,150 Posted June 24, 2014 Author Share Posted June 24, 2014 depends how much of it dave king owns i expect but in theory yes i expect so. Well, a few links suggest 21% but not sure if that's been updated since the dealings.... 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 Well, a few links suggest 21% but not sure if that's been updated since the dealings.... at 21% i don't see how he could use micromega to buy us. we would in essence be owned by all sorts of people. 0 Quote Link to post Share on other sites More sharing options...
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