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Rangers First own 2.46% of Rangers (plus 0.7% voting rights)


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Following this announcement, it does appear that the good guys are edging ever closer to obtaining the 50% + 1 magical figure. Should this be the case and they prevail at the EGM, what is the next step? Lambias and Leach were appointed as Directors on behalf of MASH and SD, in return for loans from Ashley and presumably can be voted off upon payment of the outstanding loans. (I am ignoring the employee issue at this time).

 

My assumptions

 

1. Dave King wins the EGM.

2. DK repays the loans from short term loans that he will provide, to be converted into equity at the next share offering. IIRC he offered 16m for the entire share capital previously and advised that this is still available (presumably less the amount for the shares that he had to purchase on the open market.)

3. Lambias and Leach are dismissed from the board and placed on gardening leave or dismissed, following investigation into the onerous contracts and conflict of interest. (We live in hope!)

4. New share offering to existing shareholders. This has already been approved by the current board at the AGM, so will go ahead.

5. The EGM is unlikely to result in a 75% in favour of DK, so share offering would be restricted to existing shareholders.

6. Easdale block and Ashley would be compelled to buy into the share offering to maintain their current level of shareholding. Unlikely to occur as Ashley bought his shares on the open market to prevent money coming into the club so as to ensure the acceptance of his loans and conditions.

7. RF and RST continue to buy shareholding and increase their influence at board level.

 

Does anyone see it playing out any other way?

 

One thing we should all have learned through this debacle is to assume nothing.

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RF announces a further rise in their holding - now 2.25% with another 0.7% of voting rights for EGM. :cool:

 

All they need to do now is update their website. Not for the shareholding change, because it is not there, but all the rest of it. Currently, it gives a very bad impression.

 

I know it is not a priority and the volunteers will be very busy, but, imo, the front page sends out the wrong vibes:

 

EGM UPDATE

Latest News

 

Rangers First – latest update:

The keenly awaited EGM is to be held in a hotel in London on the 4th of March.

 

Rangers First spokesman said this afternoon, " The board of Rangers FC and the NOMAD WH Ireland appear to have set this up to make voting as awkward as possible especially for the small share holders, many of who are Rangers Fans. Rangers First are pleased to announce that we will have a number of drop in centres available for people who need help in completing voting forms or if they would like to proxy their shares to Rangers First. We will be delighted to help any shareholders be they Rangers First members or not as it is important that as many votes are cast in this process as possible, you can also email shares@rangersfirst.com for info”

 

Drop in centres will be available in Glasgow, Edinburgh, Stirlingshire & North West England with other venues to be announced. If any member is struggling to attend then we will do our best to arrange a home visit.

 

This is a critical vote for the future of our club and we encourage everyone to find a way to exercise their vote.”

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Everyone in work talking about these schemes and that is people not in the online community.

 

good to hear - and this is a major shift.

 

It's taken an absolute age - but finally, the Rangers support (particulalry in the last few months) has got off its arse and risen to the challenge.

Edited by MoodyBlue
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All they need to do now is update their website. Not for the shareholding change, because it is not there, but all the rest of it. Currently, it gives a very bad impression.

 

I know it is not a priority and the volunteers will be very busy, but, imo, the front page sends out the wrong vibes:

 

EGM UPDATE

Latest News

 

Rangers First – latest update:

The keenly awaited EGM is to be held in a hotel in London on the 4th of March.

 

Rangers First spokesman said this afternoon, " The board of Rangers FC and the NOMAD WH Ireland appear to have set this up to make voting as awkward as possible especially for the small share holders, many of who are Rangers Fans. Rangers First are pleased to announce that we will have a number of drop in centres available for people who need help in completing voting forms or if they would like to proxy their shares to Rangers First. We will be delighted to help any shareholders be they Rangers First members or not as it is important that as many votes are cast in this process as possible, you can also email shares@rangersfirst.com for info”

 

Drop in centres will be available in Glasgow, Edinburgh, Stirlingshire & North West England with other venues to be announced. If any member is struggling to attend then we will do our best to arrange a home visit.

 

This is a critical vote for the future of our club and we encourage everyone to find a way to exercise their vote.”

I agree, that is very poor.

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