chilledbear 16 Posted November 12, 2014 Share Posted November 12, 2014 The person we owe the money too will be underwriting the share issue, how does that work? 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,247 Posted November 12, 2014 Share Posted November 12, 2014 The person we owe the money too will be underwriting the share issue, how does that work? Not much different than Letham's or Easdale's, who are shareholders and lent us money. Given that Ashley set this up, you would assume he has already talked to or is about to talk to the SFA about his percentage and plans. Else his statement about underwriting the issue would be somewhat strange. 0 Quote Link to post Share on other sites More sharing options...
Hildy 0 Posted November 12, 2014 Share Posted November 12, 2014 This should be a reminder for those who need reminding that Ashley is lending money to Rangers - not gifting it. This idea that Ashley has £50m in loose change to donate to the club is far-fetched. It's a loan, five minutes after the other loan. Rangers could be on the way to becoming so loaded with debt that it eventually becomes an unmanageable burden. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted November 12, 2014 Share Posted November 12, 2014 (edited) For me the most important thing in that statement is given the timing and the fact that it's being made available before the end of the month, it looks like this extra £1m loan is going to at least partly be used to help pay November's bills because not enough is left of the recent £2m loan from Ashley to cover this month's bills. That assumption is arguably backed up by them also saying: "The Directors have begun a cost cutting exercise, but further working capital in addition to the Facility will be needed before the end of the year" Edited November 12, 2014 by Zappa 0 Quote Link to post Share on other sites More sharing options...
Davie P 4 Posted November 12, 2014 Share Posted November 12, 2014 Is the timing of the further £1m loan coincidental, following the letter from the RST to the Stock Exchange, or was this done to match the terms offered by Brian Kennedy? I generally don't believe in coincidence and I am not about to start now! 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted November 12, 2014 Share Posted November 12, 2014 No doubt we will be given full details of this new commercial deal. If not it will be highly suspicious. Then we can judge it. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted November 12, 2014 Share Posted November 12, 2014 Not much different than Letham's or Easdale's, who are shareholders and lent us money. Given that Ashley set this up, you would assume he has already talked to or is about to talk to the SFA about his percentage and plans. Else his statement about underwriting the issue would be somewhat strange. Did I miss a statement about a share issue? 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted November 12, 2014 Share Posted November 12, 2014 Stating the obvious here, but when they wrote: "The Directors have begun a cost cutting exercise, but further working capital in addition to the Facility will be needed before the end of the year" They're talking about end of December. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted November 12, 2014 Share Posted November 12, 2014 Is the timing of the further £1m loan coincidental, following the letter from the RST to the Stock Exchange, or was this done to match the terms offered by Brian Kennedy? I generally don't believe in coincidence and I am not about to start now! Could be that they realised they may have breached their fiduciary duties and have taken remedial action, if that is what's happened then why opt for the poorest option in the first place? 0 Quote Link to post Share on other sites More sharing options...
charltonman 19 Posted November 12, 2014 Share Posted November 12, 2014 Has MIke Ashley written back to the SFA re his plans ? I suspected that he'd tell them to go take a running jump. 0 Quote Link to post Share on other sites More sharing options...
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