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RIFC plc accounts to June 30 released. AGM December 22 at Ibrox


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Thanks Steve,

 

Now - can someone tell me what they mean? The retail figures look far better than we feared s (so I am reading them wrongly, I guess) and yet it says we need new funding. Is the retail figure profit or is that what was sold and we might only get a fraction of it?

 

I'll stop there economics isn't my scene - especially preliminary accounts (how can they be preliminary so close to the deadline?) I'll wait on someone telling me what it means.

Edited by SteveC
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Grant Russell @STVGrant · 3m 3 minutes ago

"Control over... licensing of the brand is exercised through IP Licence agreement Group entered into with Rangers Retail Limited in 2012."

 

Grant Russell @STVGrant · 5m 5 minutes ago

At June 2013, £3,069,000 of cash/bank balance relating to Rangers Retail Limited "not immediately available as working capital to Group."

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Grant Russell @STVGrant · 8m 8 minutes ago

Rangers say they had a £1.9m reduction in salary costs including drop "following manager's decision to take a salary cut."

 

Grant Russell @STVGrant · 9m 9 minutes ago

Rangers accounts say they "have been approached by several parties wanting to offer funds on a secured basis."

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Grant Russell @STVGrant · 9m 9 minutes ago

Rangers need first tranche of £8m in January "to meet day to day working capital requirements."

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Grant Russell @STVGrant · 10m 10 minutes ago

Rangers: "the Group will require up to £8 million by way of debt or equity finance within the next 12 months"

 

Grant Russell @STVGrant · 11m 11 minutes ago

Deloitte, auditors, in Rangers' accounts: "The Group requires additional funding to continue to meet its liabilities as they fall due."

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Working it out, on basic salary Graham Wallace was on circa £341,000 a year at Rangers before bonuses. He received £160,000 bonus last year.

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Grant Russell retweeted

Raman Bhardwaj @STVRaman · 7m 7 minutes ago

Former #Rangers CEO Graham Wallace pocketed nearly £380K in the 7 months between Nov 2013-June 2014

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Grant Russell @STVGrant · 13m 13 minutes ago

"Ex-CEO Craig Mather received £69,150 in fees relating to consultancy services provided to Group prior to his appointment as a director."

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Grant Russell @STVGrant · 17m 17 minutes ago

"Since the year end a further severance payment has been made to Graham Wallace of £100,000."

Grant Russell @STVGrant · 17m 17 minutes ago

Rangers' director emoluments for year ending June 2014 continued: N Crighton: £26,664; B Smart: £14,809; I Hart £13,872; P Cartmell £1,154.

Grant Russell @STVGrant · 18m 18 minutes ago

Rangers' director emoluments for year ending June 2014: G Wallace £377,827; B Stockbridge £217,675; C Mather £84,980; D Somers £50,000.

Grant Russell @STVGrant · 21m 21 minutes ago

Correcting earlier tweet: "At June 2014, £3,069,000 cash relating to Rangers Retail Limited "not immediately available as working capital."

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I can't follow them at all, little makes sesne. Retail is up to 7million + (but then I guess we don't get to touch it - but what does that figure consist of anyway? If £3million plus was locked away at the end of June and the figures don't go far beyond that how is it £7.6million?

 

Also why is Ashley's 3 million recent loan(s) in figures for the first half of the year?

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In what way

 

we've announced losses for the year of 8m and we're now bankrupt

 

they are horrendous as we all thought they would be.

 

 

In these ways:

 

Group Revenue increased by 32% to £25.2m (2013: £19.1m)

Retail revenue increased by 375% to £7.6m (2013: £1.6m)

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this:

" "the Group will require up to £8 million by way of debt or equity finance within the next 12 months""

 

We knew that. I expected worse.

 

In what way

 

we've announced losses for the year of 8m and we're now bankrupt

 

they are horrendous as we all thought they would be.

 

They just look far healthier than i thought they would. Can't believe turnover is over £25m. I predicted about £18m. We knew we were running at a loss, that isn't new info, it's not earth shattering or news, frankly even i thought we were running at a far higher loss. Again i guessed around £500k per month. I dont' see what else i am missing. I can't see the huge director salaries or money that the sp!vs/hedge funds were stealing, where does it show us this?

 

In these ways:

 

Group Revenue increased by 32% to £25.2m (2013: £19.1m)

Retail revenue increased by 375% to £7.6m (2013: £1.6m)

 

Stunned by these figures quite frankly.

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