Latest LSE release: EGM confirmed for 6th March at Ibrox

[craig 5,199]

They are making statements hoping for a reaction which will aid their case.

Trying to goad people into making rash comments or actions in anger.

Were not falling for it.

 

Absolutely.

 

They are trying to do nothing more than scare-monger the other shareholders. The "threat" of being de-listed from AIM is being put out there to put fear into the current shareholders that the Club may be de-listed and that their investment would be worthless. Which actually ISNT the case. They would still own the shares and in the event King/T3B want full control they would still need to make an offer to the shareholders for their shares.

 

I disagree with those saying King shouldn't make a statement, at least with regards to the above question they asked. I think that a statement explaining what his "Plan B" would be in the event AIM don't accept him as a Board member would be fitting as it would allay the fears of some shareholders. Though, at this stage, it is hard to imagine that shareholders haven't already made up their mind one way or the other.

 

With regards to financial planning of the Club there are a number of issues with this request. One being that he hasn't seen the books and records and therefore has no idea just how bad the clubs contracts, revenue streams, expense loads are. Cant possibly make a statement in that regard. Secondly, and this is probably even more important - at this point King is looking to be elected to the Board - the financial management of the Club still resides with the current Board, not King. That statement screams to me that they are saying "If you win, you will be responsible for the financial future of the club". Whilst we know this will be the case in practice, it shouldn't be something the Board put out there as a "them and us" situation.

 

On top of all that it is highly amusing that they request King to give them his financial funding plans of the Club. This is the same Board who a) have no idea how they will find the Club unless it is with Ashley loans and b) given said loans they have absolutely no power or City credibility to raise funds themselves. King's funding plans would still be better than theirs even if all he said was "I'm having a whip round at the stadium on game days".