forlanssister 3,050 Posted April 3, 2015 Share Posted April 3, 2015 From Shareprophets: Rangers – the seemingly impossible achieved as effectively kicked off AIM, but the wrong target? By Steve Moore | Friday 3 April 2015 Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article. Rangers (RFC) has achieved what has looked impossible – effectively being kicked off AIM as a required nominated adviser (‘Nomad’) apparently has “to be satisfied that there are no reputational and/or historical issues with the profile and nature of the company seeking to appoint which might adversely impact on the Nomad”. Seemingly not a problem for the vast number of ludicrous companies there are on the market, but an issue here… The above requirement is apparently in addition to having “to be satisfied with the ‘fit and proper’ status of the board of directors of the company seeking to make the appointment” (past experience again suggesting this is news to a number of Nomad’s). Rangers reports a prospective Nomad was satisfied with this but following “assessment of the company's profile over the last several years and the issues which had been encountered… was unable to take up appointment”. It added that “we also understand that any alternative Nomad is liable to encounter similar difficulties”. The company is now “in discussions designed to secure an alternative trading facility for the company's shareholders… and anticipates reaching a decision and commencing arrangements for a listing over the next few weeks” (one option being ISDX, the successor to PLUS). In the meantime, arrangements have been put in place to allow shareholders access to a matched bargain trading facility with JP Jenkins (http://www.jpjenkins.ltd.uk) and “the board will update shareholders regularly in the press and on the Company's website at http://www.rangersinternationalfootballclub.com on arrangements for the transition to a new Exchange”. It adds that it considers that “the company's future capital requirements can be met by shareholders who are not concerned about the absence of an AIM listing”. Tom Winnifrith has previously noted that a move to a cheaper platform is probably best for Rangers anyway (see HERE) and there is a sign of the regulators at last showing some teeth here – Rangers understanding that the Nomad’s process “involved discussions with the Exchange” and “AIM receiving more complaints about the company than any other company on its Exchange over the last year”. However, with the new board passed fit and proper, I can’t help but think Rangers is the wrong target here – this website having identified various companies where the in situ directors have clearly shown themselves to not be ‘fit and proper’ but the shares continuing to trade on AIM. I’ve consistently warned on these shares – last updating that the task here looks a big one – with a results statement reporting that “a massive rebuild is required at every level and in every department”. I’ll update again when it is announced what the latest move in the extraordinary travails here is. http://www.shareprophets.com/views/11429/rangers-the-seemingly-impossible-achieved-as-effectively-kicked-off-aim-but-the-wrong-target 0 Quote Link to post Share on other sites More sharing options...
BlueSolace 0 Posted April 3, 2015 Share Posted April 3, 2015 I have been told from an impeccable source in the city that there is a lot of false speculation in this thread. 0 Quote Link to post Share on other sites More sharing options...
compo 6,133 Posted April 3, 2015 Author Share Posted April 3, 2015 I wish rangers fans would stop bickering , lets give the board a time to settle in and sort things out and turn things round it no use having a dig at each other after all we all support the same club . 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted April 3, 2015 Share Posted April 3, 2015 Was there not something about you turning up at an RST meeting with a Celtic supporter or was that not related to the McColl deal? A friend of mine offered some assistance and his presence was approved by the then Chair, Stephen Smith; but Mr Dingwall objected and he took no further part. And I didn't turn up at said meeting, I hosted it in my offices. 0 Quote Link to post Share on other sites More sharing options...
aweebluesoandso 290 Posted April 3, 2015 Share Posted April 3, 2015 I wish rangers fans would stop bickering , lets give the board a time to settle in and sort things out and turn things round it no use having a dig at each other after all we all support the same club . There's some Rangers haters out there atm compo, sad thing is they're in the support. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted April 3, 2015 Share Posted April 3, 2015 A friend of mine offered some assistance and his presence was approved by the then Chair, Stephen Smith; but Mr Dingwall objected and he took no further part. And I didn't turn up at said meeting, I hosted it in my offices. Was it David Low? 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted April 4, 2015 Share Posted April 4, 2015 Speculation that a few here are ever so happy to buy into and promulgate. There is also a blatant arrogance displayed by some that is extremely distasteful. But hey, let's all go out to dinner! Yeah? Take it you won't be going for the BH's gersnet dinner then mate 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted April 4, 2015 Share Posted April 4, 2015 Take it you won't be going for the BH's gersnet dinner then mate It would be pretty weak if he did not go to the dinner because of one person he disagreed with. That says more about him than the person he disagrees with. 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted April 4, 2015 Share Posted April 4, 2015 It would be pretty weak if he did not go to the dinner because of one person he disagreed with. That says more about him than the person he disagrees with.I'd agree with that 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted April 4, 2015 Share Posted April 4, 2015 The dinners are always very convivial 0 Quote Link to post Share on other sites More sharing options...
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