forlanssister 3,050 Posted March 13, 2017 Share Posted March 13, 2017 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,346 Posted March 13, 2017 Share Posted March 13, 2017 The takeover panel say "Mr King cannot avoid the obligation to make an offer by reliance on an argument that a mandatory offer would not be in the best interests of the other shareholders or of Rangers." 0 Quote Link to post Share on other sites More sharing options...
SteveC 150 Posted March 13, 2017 Share Posted March 13, 2017 The takeover panel say "Mr King cannot avoid the obligation to make an offer by reliance on an argument that a mandatory offer would not be in the best interests of the other shareholders or of Rangers." That seems to fly in the face of common sense to me. Then again common sense is only every used against us, never for............ 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,346 Posted March 13, 2017 Share Posted March 13, 2017 Kings words are fair enough but he campaigned on a corporate governance footing so this result is an embarrassment for him. Ultimately it could cost him a few million but his over shareholding may improve ahead of any possible share issue(s). He's trying to claim he has no influence over the shares that he bought. I doubt there's a single person on here that believes that. King does not come across well in the TP's report. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,346 Posted March 13, 2017 Share Posted March 13, 2017 That seems to fly in the face of common sense to me. Then again common sense is only every used against us, never for............ The Law's the law. Whether the 30% rule does make common sense (I also don't see the logic in it) it has to be adhered to. 0 Quote Link to post Share on other sites More sharing options...
Davie P 4 Posted March 13, 2017 Share Posted March 13, 2017 What we have seen is that King included the cost of his share purchase as part of his investment into the club (5m of the 18m already invested, from memory?) If he now has to make an offer of circa 11m to acquire the balance, I would imagine that would basically be the full wad of 30m that was envisaged. So perhaps he would have to revert to the original 50m stated in order to support the manager with player acquisitions. (Is he a manager or Head Coach?) Having said all of that, I am sure there is an appeals process, which King will go through. Don't think anything is likely to happen in the near future. 0 Quote Link to post Share on other sites More sharing options...
SteveC 150 Posted March 13, 2017 Share Posted March 13, 2017 The Law's the law. Whether the 30% rule does make common sense (I also don't see the logic in it) it has to be adhered to. But that's my point really. Common sense was put above the law being adhered to in our case last year. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,346 Posted March 13, 2017 Share Posted March 13, 2017 But that's my point really. Common sense was put above the law being adhered to in our case last year. Are you sure? I'm not sure that it was. I haven't read through the findings myself but have read people say that although one of the judges did make a comment about common sense, the actual finding was based in law. However, saying that, I wouldn't be surprised if they decide what they want and then find law to suit it. 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted March 13, 2017 Share Posted March 13, 2017 What happens if DK puts out an offer of 20p per share, and no-one sells??? Does that keep the authorities happy?? 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,346 Posted March 13, 2017 Share Posted March 13, 2017 What happens if DK puts out an offer of 20p per share, and no-one sells??? Does that keep the authorities happy?? I think Frankie's post (post 9) suggests that they may to get rid of some of their shares. 0 Quote Link to post Share on other sites More sharing options...
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