BrahimHemdani 1 Posted April 1, 2015 Share Posted April 1, 2015 (edited) A Listed Company is one whose shares are traded on the principal stock exchange of the country concerned, in the UK that is the London Stock Exchange (LSE). An Unlisted Company is a bit of a misnomer because it just means it is not listed on the principal stock exchange; but as with Rangers its shares may be listed/traded on another market e.g. the Alternative Investment Market (AIM). The AIM market has less stringent rules than the LSE but the corollary is that the companies whose shares are traded there are likely to be riskier e.g. small companies, start ups, or again, as with Rangers - turn around, or perceived turn around or so called special situations. Examples might be new management (sic) or new products. Anyone can buy or sell listed or unlisted shares. This should not be confused with a private company whose shares are generally held by a small group of individuals or family and usually not traded on any recognised stock exchange. It has been suggested that KingCo + T3B may wish to take the company private to restrict future share purchases and indeed sales to those who they consider worthy of such facilities. When I bought my Rangers shares in 1983 I believe I am correct in saying it was a private limited company and the only way to acquire shares was in a matched bargain with a willing seller. My stockbroker knew that I wanted Rangers shares, which were quite prized and difficult to acquire at the time. He phoned me one day to say he had someone willing to sell 100 at a certain price and they were mine if I was willing to pay that price, which of course included his "turn" and commission. Edited April 1, 2015 by BrahimHemdani 0 Quote Link to post Share on other sites More sharing options...
Hildy 0 Posted April 1, 2015 Share Posted April 1, 2015 If a new nomad is not going to be appointed, I expect the board to explain why not, but while there will be some negative headlines about this, I don't think it is necessarily such a bad thing. It may well be seen as a move in the right direction. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted April 2, 2015 Share Posted April 2, 2015 (edited) If a new nomad is not going to be appointed, I expect the board to explain why not, but while there will be some negative headlines about this, I don't think it is necessarily such a bad thing. It may well be seen as a move in the right direction. It would be a severe blow to King's credibility since he rubbished the previous Nomad's concerns about his ability to qualify as a director under AIM rules and suggested he would have no difficulty appointing a new Nomad should he take control at the club. http://www.dailyrecord.co.uk/sport/football/football-news/rangers-egm-go-ahead-planned-5273207 Edited April 2, 2015 by BrahimHemdani 0 Quote Link to post Share on other sites More sharing options...
BlueSolace 0 Posted April 2, 2015 Share Posted April 2, 2015 (edited) Staying away from bankers, hedge funds, dodgy financiers and those associated with AIM would seem a rather prudent thing to do. These people are held in high esteem for some strange reason. I bet even a fair few of these people have been knighted, MBE/OBE and are peers of the realm .... How much has SDM cost the tax payer ? Edited April 2, 2015 by BlueSolace 0 Quote Link to post Share on other sites More sharing options...
Davie P 4 Posted April 2, 2015 Share Posted April 2, 2015 King has stated that he sees little benefit in remaining as a listed entity. I think at the time of his NOMAD replacement statement, it may have been lip service to those few remaining investment companies prior to the EGM, to go through the motions of pretending to remain listed to keep them on board. Obviously it is possible that Kingco did genuinely intend to have the AIM suspension lifted by appointing a replacement NOMAD, but the resignation of the auditors and the failure to replace them, may have made this intention impossible and they have a ready made excuse for not seeing this through. Either way, I believe that this suits King. He will get slated by the press and vilified by all and sundry, but he can use the 'get out of jail free card' handed to him by the actions of the previous board. The reality is that to remain listed would come at a cost. This is money that we can scarce afford and could be used for a myriad of other purposes. Any future share offering will only be supported by Rangers supporters in any event, so to remain listed in the hope that investment managers may consider us as an alternative opportunity is at best futile and at worst delusional. Best we get on with ensuring the future security of Rangers, because no-one, outside of the supporters, will do so. (For the avoidance of doubt, I include King, Murray, T3B and the like as supporters). 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,552 Posted April 2, 2015 Share Posted April 2, 2015 King himself said a NOMAD was lined up and the club wouldn't be delisted. While that may have been presumptuous given the club's problems, it's a promise he should be keeping. As it stands it doesn't look good but I guess there are more important issues. That's fine but some detailed progress on them would be nice as well. The clock is ticking to renewals... 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,607 Posted April 2, 2015 Share Posted April 2, 2015 It would be a severe blow to King's credibility since he rubbished the previous Nomad's concerns about his ability to qualify as a director under AIM rules and suggested he would have no difficulty appointing a new Nomad should he take control at the club. We don't know the reasons for the lack of a Nomad, and I wouldn't be surprised if it had nothing to do with King's suitability per se. However I'd agree that it is a blow to King's and the current board's credibility. We have had enough of false statements over the past number of years and do not need them from those currently in control. Most new directors etc start from a position of trust with me but it's becoming quicker and quicker for that trust to disappear and therefore King cannot have any other instances of this or else that trust will erode very quickly. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted April 2, 2015 Share Posted April 2, 2015 King has stated that he sees little benefit in remaining as a listed entity. I think at the time of his NOMAD replacement statement, it may have been lip service to those few remaining investment companies prior to the EGM, to go through the motions of pretending to remain listed to keep them on board. Obviously it is possible that Kingco did genuinely intend to have the AIM suspension lifted by appointing a replacement NOMAD, but the resignation of the auditors and the failure to replace them, may have made this intention impossible and they have a ready made excuse for not seeing this through. Either way, I believe that this suits King. He will get slated by the press and vilified by all and sundry, but he can use the 'get out of jail free card' handed to him by the actions of the previous board. The reality is that to remain listed would come at a cost. This is money that we can scarce afford and could be used for a myriad of other purposes. Any future share offering will only be supported by Rangers supporters in any event, so to remain listed in the hope that investment managers may consider us as an alternative opportunity is at best futile and at worst delusional. Best we get on with ensuring the future security of Rangers, because no-one, outside of the supporters, will do so. (For the avoidance of doubt, I include King, Murray, T3B and the like as supporters). If KingCo +T3B are willing and able to provide all the finance that Rangers require to meet the new 7 Year Plan which is several times the £10m or so that will be raised in the rights issue, then it would indeed be to his advantage to delist but it is this suggestion that is at best futile and at worst delusional. In this regard, King is guilty of either a severe error of judgement or blatant deception in regard to the appointment of a NOMAD and the de-listing of the company if that should come to pass. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted April 2, 2015 Share Posted April 2, 2015 We don't know the reasons for the lack of a Nomad, and I wouldn't be surprised if it had nothing to do with King's suitability per se. However I'd agree that it is a blow to King's and the current board's credibility. We have had enough of false statements over the past number of years and do not need them from those currently in control. Most new directors etc start from a position of trust with me but it's becoming quicker and quicker for that trust to disappear and therefore King cannot have any other instances of this or else that trust will erode very quickly. Whilst we may not know the full reasons for the inability to find a new NOMAD it is reasonable to suggest that King's past record is at the very least a contributory factor. He was free in his criticism of WH Ireland's actions; by his apparent inability to find a replacement when he suggested one was already lined up, he leaves himself and the new Board open to similar charges. Any attempt to spin this as something positive for the Company rather than King himself is misplaced to say the least. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,607 Posted April 2, 2015 Share Posted April 2, 2015 (edited) Any attempt to spin this as something positive for the Company rather than King himself is misplaced to say the least. I don't see not being listed on AIM as particularly bad, particularly following the yesterday's news which again doesn't reflect well on AIM. http://www.thetimes.co.uk/tto/business/industries/technology/article4399723.ece However I'd agree at this point they need to go back in to establish credibility and then make the decision to delist of appropriate. Edited April 2, 2015 by Bluedell 0 Quote Link to post Share on other sites More sharing options...
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