Takeover Panel granted court order against Dave King

[alskoosher 14]

Interesting development. 

https://Rangers.co.uk/news/headlines/paul-murray-and-barry-scott

Rangers International Football Club PLC (RIFC) notify the resignation of two directors, Mr Paul Murray and Mr Barry Scott. 

Paul has been a director since March 2015 and played an important role at that time in helping oust the previous Board and restore the Club to the hands of those who have its best interests at heart.

Paul has served with distinction as a director since that time and all at Rangers are very grateful for his efforts. We look forward to welcoming him again as a supporter.

Barry joined the Board more recently and his enthusiasm and drive were welcome. The Board knows it will continue to enjoy his support and appreciates the commitment he has shown to the Club.

[Bill 13,717]

2 minutes ago, alskoosher said:

Interesting development. 

https://Rangers.co.uk/news/headlines/paul-murray-and-barry-scott

Rangers International Football Club PLC (RIFC) notify the resignation of two directors, Mr Paul Murray and Mr Barry Scott. 

Paul has been a director since March 2015 and played an important role at that time in helping oust the previous Board and restore the Club to the hands of those who have its best interests at heart.

Paul has served with distinction as a director since that time and all at Rangers are very grateful for his efforts. We look forward to welcoming him again as a supporter.

Barry joined the Board more recently and his enthusiasm and drive were welcome. The Board knows it will continue to enjoy his support and appreciates the commitment he has shown to the Club.

It's becoming clear the changes afoot go well beyond the appointment of Steven Gerrard. Begin to doubt Dave King will be in the chairman's role for long.

[Uilleam 5,440]

Fundamental shifts. We do live in interesting times. 

[Gaffer 1,665]

22 minutes ago, alskoosher said:

You can change the thread title all you like interdict was sought and granted.

 

PETITION DEPARTMENT
UNSTARRED MOTIONS
P418/18 Pet: The Panel on takeovers and mergers for interdict – Dentons

I really don't understand.  What is the interdict element you're referring to?  What are they prohibiting?  Isn't this just reinforcement of the ToP's view?  I'd do the same if I was in that organisation but I'm struggling to see why this court order is so material.  Am I missing something?

[Walterbear 557]

It’s stopping him making an offer without cleared funds hence interdict. It’s not fundamentally changed anything. If he doesn’t do it he still gets punished. If Alkoosher gave us details about Kings clearing account lacking funds that would be more interesting. 

[boabie 230]

39 minutes ago, Gaffer said:

I really don't understand.  What is the interdict element you're referring to?  What are they prohibiting?  Isn't this just reinforcement of the ToP's view?  I'd do the same if I was in that organisation but I'm struggling to see why this court order is so material.  Am I missing something?

Those in the know, Paedodome cheerleaders every one, are quoting each other on an arrest warrant being sought for King. Ffs, some of them are talking extradition from S.A.       

They are also on about the City cold shoulder preventing us from transferring players in or out.

King knows there will be little take up from his share offer and couldn't be ersed losing interest on whatever money he was having to place into an account to let it go ahead. The action the other day was to force him to show a third party he did indeed have the funds for the offer.

The manks imo are making another story out of nothing.

[alskoosher 14]

42 minutes ago, Gaffer said:

I really don't understand.  What is the interdict element you're referring to?  What are they prohibiting?  Isn't this just reinforcement of the ToP's view?  I'd do the same if I was in that organisation but I'm struggling to see why this court order is so material.  Am I missing something?

They are prohibiting Laird from making any offer, king has to make it as he was ordered to by the court and he must produce evidence of cleared funds from a 3rd party.

[buster. 4,808]

2 minutes ago, alskoosher said:

They are prohibiting Laird from making any offer, king has to make it as he was ordered to by the court and he must produce evidence of cleared funds from a 3rd party.

Not according to the report you provided a link to this morning.

 

It has emerged that the Takeover Panel has been granted a court order which also forbids any attempt by Mr King's South African-based Laird Investments (Proprietary) Limited from making the mandatory offer to thousands of shareholders without a third party confirming that the funds to support it are there.

[Gaffer 1,665]

6 minutes ago, buster. said:

Not according to the report you provided a link to this morning.

 

It has emerged that the Takeover Panel has been granted a court order which also forbids any attempt by Mr King's South African-based Laird Investments (Proprietary) Limited from making the mandatory offer to thousands of shareholders without a third party confirming that the funds to support it are there.

Thanks Buster.  I hadn't read that and got confused.  That was the entire point from the last court case wasn't it?  King said that he didn't have the money because it was in a trust.  His request was to allow the trust to make the offer rather than him and that request was granted.  So, this latest point is to ensure that the trust has the money before it makes the offer?  That seems sensible and I don't get why there's so much interest in this from anyone.  It's just procedure isn't it?  Equally, I'd expect King to drag his heels on it to do it at a time that she convenient for him.  This just gives him a gentle reminder doesn't it!?!

 

What is this strange obsession by fans of other teams around this?  I'm interested in reading stuff about Rangers that's either interesting or material.  This is neither.

Edited May 2, 2018 by Gaffer

[buster. 4,808]

1 minute ago, Gaffer said:

Thanks Buster.  I hadn't read that and got confused.  That was the entire point from the last court case wasn't it?  King said that he didn't have the money because it was in a trust.  His request was to allow the trust to make the offer rather than him and that request was granted.  So, this latest point is to ensure that the trust has the money before it makes the offer?  That seems sensible and I don't get why there's so much interest in this from anyone.  It's just procedure isn't it?  Equally, I'd expect King to drag his heels on it to do it at a time that she convenient for him.  This just gives him a gentle reminder doesn't it!?!

I don't know enough about this to be able to say anything with any authority whatsoever but my uneducated understanding was along the same lines. How close to the wind DK is sailing, I'm not sure but it is DK, not Rangers.