Stimpy 0 Posted August 29, 2014 Share Posted August 29, 2014 Time for the ****s to chase themselves and sell their holdings to King for a reasonable price as opposed to ridiculous offers. Although I can't help think they'd be happy to explore further financing needs. Y'know, like Ibrox being renamed or being sold and leased back. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted August 29, 2014 Share Posted August 29, 2014 Yes, of course but that doesn't mean it's a given. If the club can't raise/underwrite £3.97m they won't be able to raise £30m. Will they sell a major holding to secure the club? Or will they remain and keep our future under threat? If the issue fails then "emergency financing" could mean anything but almost certainly would require some form of collateral security and obviously Murray park would be high on the list. If the issue succeeds then the "additional working capital........ lines of credit, other forms of short term finance or as a component of a further equity raise," are unlikely to require anything more onerous than the currently pledged assets would be required and of course nothing if a new share issue were to be successful. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted August 29, 2014 Share Posted August 29, 2014 Yes, this level will be. How keen will these people be to fund the club further given the details in the release? That's the £3 million question and we will soon know the answer. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted August 29, 2014 Share Posted August 29, 2014 Time for the ****s to chase themselves and sell their holdings to King for a reasonable price as opposed to ridiculous offers. Although I can't help think they'd be happy to explore further financing needs. Y'know, like Ibrox being renamed or being sold and leased back. KIng has been clear he is not buying from the existing shareholders, has he not (regardless of price)? 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted August 29, 2014 Share Posted August 29, 2014 It should be noted that this level of subscription would be very small potatoes for the major shareholders, e.g. Laxey - 2,503,229 shares - £500,645 Artemis - 1,653,836 shares - £330,767 River & Mercantile - 1,447,521 shares - £289,504 etc etc Mike Ashley - 905,550 shares - £181,110 Perhaps it is small potatoes, but as they are not going to have their heart strings tugged by any love for the club, they will not throw good money after bad, no matter how low the numbers are. It's a bloody shambles. 0 Quote Link to post Share on other sites More sharing options...
buster. 4,808 Posted August 29, 2014 Share Posted August 29, 2014 I guess the 5M at the press of a button goes down on the long list under, 'fob them off bullshit'. Misleading public statement from Wallace ? ----------------------------------------------------------------------------------- Remember this is to keep the lights on and wouldn't be enough to get through the season. As for the 20-30M needed for acting on the 'business review'........where is this coming from ? And if it isn't then what are the revised projections regards the football operation ?...Or perhaps for other events. Remember the football club (TRFC) already has a large debt, will RIFC swap it for Ibrox ? 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,146 Posted August 29, 2014 Author Share Posted August 29, 2014 If the issue fails then "emergency financing" could mean anything but almost certainly would require some form of collateral security and obviously Murray park would be high on the list. If the issue succeeds then the "additional working capital........ lines of credit, other forms of short term finance or as a component of a further equity raise," are unlikely to require anything more onerous than the currently pledged assets would be required and of course nothing if a new share issue were to be successful. Sorry, I'm struggling to interpret that (it's still early!). Everyone from Dave King to the current board concede the club can't live hand to mouth like it has done since the IPO money was wasted with no alternative funding available. £30m is required. I doubt there will be many people willing to provide anywhere near that in early 2015. Will board go cap in hand to the person who has said he will? Or will they risk further problems by placing our assets under risk? I don't know what will happen but what I do know is the club is in very real danger. I also know that this position has been inevitable for months. The next move will be interesting but we may not see that for a few months yet. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted August 29, 2014 Share Posted August 29, 2014 Sorry, I'm struggling to interpret that (it's still early!). Everyone from Dave King to the current board concede the club can't live hand to mouth like it has done since the IPO money was wasted with no alternative funding available. £30m is required. I doubt there will be many people willing to provide anywhere near that in early 2015. Will board go cap in hand to the person who has said he will? Or will they risk further problems by placing our assets under risk? I don't know what will happen but what I do know is the club is in very real danger. I also know that this position has been inevitable for months. The next move will be interesting but we may not see that for a few months yet. Circumstances have dictated that the Club IS living hand to mouth; one and I stress one reason being the translation of approx a third of normal ST advance certain income into bi-weekly ticket sales uncertain income. I was referring only to the possible funding required in the evnt that this issue does or does not succeed as set out in your quotations. The much larger funding required for a scouting network, return to the SPL/Europe etc is quite another matter as you rightly point out. What price an early statement from South Africa berating the Board once again or even a personal appearance? 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,146 Posted August 29, 2014 Author Share Posted August 29, 2014 Circumstances have dictated that the Club IS living hand to mouth; one and I stress one reason being the translation of approx a third of normal ST advance certain income into bi-weekly ticket sales uncertain income. I was referring only to the possible funding required in the evnt that this issue does or does not succeed as set out in your quotations. The much larger funding required for a scouting network, return to the SPL/Europe etc is quite another matter as you rightly point out. What price an early statement from South Africa berating the Board once again or even a personal appearance? King doesn't need to say anything at this stage. He can't buy in anyway. Whatever the UoF say will be his words in any case. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted August 29, 2014 Share Posted August 29, 2014 One serious concern about such a small share issue is that the expenses are bound to be a very significant proportion of the amount raised. Others on here are more knowledgeable on that aspect but I'd venture a guess that it's bound to be several hundred thousand pounds. 0 Quote Link to post Share on other sites More sharing options...
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