Monday AGM

[BEARGER 1,829]

From club website.

 

AS previously announced, the Company's Annual General Meeting will be held at 10:30am on Monday 22 December 2014 at Ibrox Stadium, 150 Edmiston Drive, Glasgow G51 2XD.

 

Access will be through Exit 30 of the Broomloan Stand which is adjacent to turnstile 64. Shareholders will have access to the Albion car park with access to the Stadium footprint for disabled Blue Badge holders to park near the entrance.

Shareholders are asked to arrive in good time from 9am in order to clear the registration process.

Shareholders should bring the attendance card which was included with the Notice of AGM, posted to registered addresses on 28 November 2014.

In the event that the attendance card is lost, Shareholders should bring some other form of ID (a credit/debit card will suffice). Shareholders whose shares are held in a nominee account with their stockbroker will need a Corporate Representative's letter (issued by the custodian of their shares) in order to be admitted. Non-shareholders including guests of shareholders, will not be admitted.

The meeting will consider the 9 Resolutions set out in the Notice of AGM, each of which will be subject to a vote by Poll, which will be verified by Capita Registrars Limited. The result of these Resolutions will be released to the London Stock Exchange by no later than 7am on 23 December 2014.

[BEARGER 1,829]

From RST website

 

AGM Resolutions 8 and 9

 

Looking at the resolutions put forward at the AGM, those relating to the election of board members seem fairly straightforward. You either fancy them or you don’t. Given their abject failure in every aspect of running the club surely only their masters will vote for them? What isn't quite as clear, certainly not to anyone unfamiliar with the Companies Act and a degree in legal double speak are resolutions 8 & 9.

So having a friend more fluent in these things helps and here is how it was explained.

On the face of it, with a few minor exceptions, they are very similar to the resolutions proposed last year. Resolution 8 is for existing shareholders and Resolution 9 allows non existing shareholders to purchase shares. Though not entirely clear it would seem that the resolution allowing non existing shareholders to buy shares kicks in only if existing shareholders have been given the opportunity to buy shares too.

There are 2 different figures in resolution 8. The first part allows an issue of up to 50% of the current shares in an open offer and the second to issue up to 66.66% of current shares in a rights issue. Though as seems the norm from those in charge at our club these days, they seem to have slightly miscalculated the 50% figure.

So what does it mean this time round? If these resolutions are not passed it will mean the club could only be funded by more loans. What would the loans be guaranteed against, how will they be repaid and what will the interest rate be? If these resolutions are passed the club should get some desperately needed equity investment. The issue is who will provide that equity and what will they get in return? Once the door is open to non existing shareholders who will rush in? Will it be Dave King, Brian Kennedy or more friends of Charles Green and Mike Ashley ?

The club needs cash desperately and the best way is through equity investment and not more loans. Opening that door to new shareholders has a downside depending who comes along, however no equity means loans and the baggage that comes with them. It is hard to imagine new shareholders being any worse than those who currently call the shots at Ibrox so I intend voting for resolutions 8 and 9.

- See more at: http://www.therst.co.uk/news/agm-resolutions-8-and-9/#sthash.u57hHsMw.dpuf

[Zappa 0]

I'm really surprised that there hasn't been more discussion about this AGM, although in fairness it's almost certain to be a let-down with more unanswered questions than actual answers.

[jhunter 0]

I'm really surprised that there hasn't been more discussion about this AGM, although in fairness it's almost certain to be a let-down with more unanswered questions than actual answers.

 

its a waste of time from the fan's perspective as last year's was.

 

a box ticking exercise to comply with the "rules"

[the gunslinger 3,366]

Only good outcome that's actually a realistic possibility is an out and out riot and that's unlikely at best.

Edited December 20, 2014 by the gunslinger

[SteveC 150]

I'm really surprised that there hasn't been more discussion about this AGM, although in fairness it's almost certain to be a let-down with more unanswered questions than actual answers.

 

It goes back to your comment on another thread re "widespread apathy" and "downright defeatism", Zappa. We're like animals in a science lab test - we've been prodded, probed, tortured, disorientated, conned by or so called carers, filled with toxins and every time we think there is an escape, further brutality has awaited instead. We're losing the will to live.

[Tannochsidebear 2,306]

I thought it was at the Armadillo?

[trublusince1982 243]

Sommers must be asked to explain his comments saying the merchandise deal makes quite a lot of money for Rangers. How does this statement stand against historical returns? When and how much did we receive that constitutes quite a lot? How does this return justify giving away of an £18m contract for zilch?(i know that wasn't him but he justifies the deal) How does that compute as a good partnership? Why lie to the public/fans? How can trust be garnered when he makes such nonsense statements? Then he should be taken to task on such a nonsense public statement misinforming shareholders and fans alike then asked to resign since he knows nothing of what he speaks or what is good for the club. For a chairman to be so far off the mark is unforgivable.

Edited December 20, 2014 by trublusince1982

[rbr 1,247]

any one fancy meeting up before hand

[BEARGER 1,829]

I thought it was at the Armadillo?

 

You thought wrong. Probably cannot afford the Armadillo.