Dave King may have to offer you 20p for your shares

[boabie 230]

would that not only be the case if they DIDN'T offer the other other shareholders???

 

I read something earlier which to me seemed to be saying that the 3 bears would have to get rid of some of their shares if 50% of holders did not accept 20p a share.

[geoger64 0]

The suggestion made earlier about offloading some shares to C1872 to reduce the shareholding sounds like it would work in the short term. The problem will come when they try to turn the loans into equity I would think.

[alexl 0]

This could if handle correctly, ultimately benefit club1872?

 

My thoughts too ..........

[boabie 230]

Never one to fail to pass on information from imaginary "friends" within his own head, the tarred one comes out with this cracker -

 

There are 81 million shares in Rangers. King owns 15%. He'll need to offer 20p a share which equals £14 million.

RIFC shares are worth 0.04p each. To place a sale costs 4-5p a share. Therefore the shares are effectively worthless.

 

He failed to answer the question why there would be absolutely NO take-up at 20p for shares that are worthless.

[Bluedell 5,329]

The suggestion made earlier about offloading some shares to C1872 to reduce the shareholding sounds like it would work in the short term. The problem will come when they try to turn the loans into equity I would think.

I think that they may be able to get an exemption if they have a share issue.

 

I remember someone, FS I think, saying Desmond did that with Celtic. I remember FS also speculating that King and the 3B would keep their holding to below 30% before that to prevent this. Obviously they didn't listen to him!

[SteveC 150]

I think that they may be able to get an exemption if they have a share issue.

 

I remember someone, FS I think, saying Desmond did that with Celtic. I remember FS also speculating that King and the 3B would keep their holding to below 30% before that to prevent this. Obviously they didn't listen to him!

 

Disgraceful behaviour! FS should always be listened to, imo.

[compo 6,122]

You would have thought that king and his fellow directors would have been business savvy in this matter I think a similar thing happened when Irving Scholar took control of Spurs he knew the value of the shares and offered a bit on top he got the club quite easily so if our Dave offers the investors 20 pence and the fat man 30 pence its a no brainer .

[forlanssister 3,050]

I think that they may be able to get an exemption if they have a share issue.

 

I remember someone, FS I think, saying Desmond did that with Celtic.

 

The Board announces that the Company proposes to raise up to £15 million, before

expenses, by way of an Open Offer and Offer for Subscription ('the Share

Offers'). The Company proposes to raise up to approximately £9.9 million under

the Open Offer and up to approximately £5.1 million under the Offer for

Subscription. Up to £10 million to be raised under the Share Offers has been

underwritten.

 

Mr Dermot Desmond has agreed to underwrite up to £10 million of the Share

Offers. Mr Desmond has indicated that he does not wish to obtain control of

Celtic by reason of his underwriting of the Open Offer. Accordingly,

irrespective of the take up under the Share Offers, Mr Desmond will not hold

more than 49.9 per cent of the voting rights of the Company following completion

of the Share Offers.

 

If Mr Desmond is required to subscribe for New Ordinary Shares in the Share

Offers in excess of his pro rata entitlements, it is possible that Mr Desmond

will increase the proportion of his shareholding with voting rights to more than

30 per cent of the voting share capital. This would mean that, unless further

action is taken, Mr Desmond will, in accordance with Rule 9 of the Takeover

Code, be required to make an offer for the entire issued share capital of the

Company not then held by him.

 

The Independent Directors of the Company are therefore seeking approval from the

Independent Shareholders for a waiver granted by the Panel from the obligations

that would otherwise apply to Mr Desmond under Rule 9 of the Takeover Code on

his subscription for New Ordinary Shares under the Share Offers.

 

https://www.trustnet.com/Investments/Article.aspx?id=200510281729003508T

 

 

 

 

I remember FS also speculating that King and the 3B would keep their holding to below 30% before that to prevent this. Obviously they didn't listen to him!

 

An elementary mistake, I don't think anyone thought it to be anything other than a concert party that they left that so easy to prove is surprising and disappointing though. In the grand scheme of things this is something we could well be done without but it's more than an irritant than anything else.

Edited March 13, 2017 by forlanssister

[der Berliner 3,239]

Now, how else then would they have made it a "non-concerted" effort to get the unwanted out then? We have four people/companies buying enough shares to oust the board at the time. Should they have whipped up some more secretive companies and made a hush-hush attempt to steal power? Just asking. In this day and age, someone somewhere would sure have this leaked and it would probably backfire even more on the current board et al. So ... how should they have done it "better"?

[forlanssister 3,050]

Now, how else then would they have made it a "non-concerted" effort to get the unwanted out then? We have four people/companies buying enough shares to oust the board at the time. Should they have whipped up some more secretive companies and made a hush-hush attempt to steal power? Just asking. In this day and age, someone somewhere would sure have this leaked and it would probably backfire even more on the current board et al. So ... how should they have done it "better"?

 

It could been avoided. you can either accept that or not, doesn't put me up or down any.

 

It happens practically every day, anyway as I said it's an irritant not a catastrophe.