BEARGER 1,830 Posted August 14, 2018 Share Posted August 14, 2018 From BBC. Rangers have called a general meeting of shareholders to approve the issuing of more than £12m worth of new shares. If granted approval at the 31 August meeting, the issue will raise fresh finance, but also convert some existing shareholder loans to equity. By the end of 2017, Rangers had received £17.7m in loans from shareholders and other investors. The 63,147,137 new shares will be issued at 20p to 13 different individuals shareholders. The group includes current directors Douglas Park, and John Bennett, along with New Oasis Asset Limited, chairman Dave King's family trust. Former Rangers director Barry Scott will also receive some of the new shares, along with George Letham, George Taylor, Andrew Ross, Club 1872 - the Rangers fans group - Borita Investments Limited, New Trace Limited, Andrew Hawkyard, Neil Hosie, and Paul Redbourn. The share issue has is not connected to King having been told to comply with a Takeover Panel order to make an offer to buy out the rest of the club's shareholders. The Rangers chairman has until Thursday, 16 August to make an offer of 20p per share, amounting to £10.75m, or potentially face contempt of court proceedings. 0 Quote Link to post Share on other sites More sharing options...
Gonzo79 15,152 Posted August 15, 2018 Share Posted August 15, 2018 2 minutes ago, magic hat said: What will this money be used for? Bowler hats and Lambeg drums. 3 Quote Link to post Share on other sites More sharing options...
cooponthewing 1,139 Posted August 15, 2018 Share Posted August 15, 2018 10 minutes ago, magic hat said: What will this money be used for? 1000 prime Iranian camels! 2 Quote Link to post Share on other sites More sharing options...
Devil's advocaat 1,517 Posted August 15, 2018 Share Posted August 15, 2018 27 minutes ago, magic hat said: What will this money be used for? Coke and hookers. 1 Quote Link to post Share on other sites More sharing options...
Gaffer 1,665 Posted August 15, 2018 Share Posted August 15, 2018 (edited) 39 minutes ago, magic hat said: What will this money be used for? We could use it to buy a second hand (albeit good as new) set of disco lights. I think we should also set some aside for ADMIN 4, 5, 6, etc since according to our deluded cousins, these events are coming up in a few weeks. Edited August 15, 2018 by Gaffer 0 Quote Link to post Share on other sites More sharing options...
cooponthewing 1,139 Posted August 15, 2018 Share Posted August 15, 2018 30 minutes ago, Devil's advocaat said: Coke and hookers. Recurring rumours the last lot tried that? What about 600 Azerbaijani Caucasian leopards? We could build a wildlife park where the pitches are! 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,529 Posted August 15, 2018 Share Posted August 15, 2018 1 hour ago, magic hat said: What will this money be used for? It will primarily be converted to shares for those who have provided equity via loans in lieu of such. 0 Quote Link to post Share on other sites More sharing options...
compo 6,930 Posted August 15, 2018 Share Posted August 15, 2018 5 minutes ago, Frankie said: It will primarily be converted to shares for those who have provided equity via loans in lieu of such. Therefore securing their hold on the club no complaint about that from me , but with more shares will this dilute the holdings of others . 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted August 15, 2018 Share Posted August 15, 2018 11 minutes ago, compo said: Therefore securing their hold on the club no complaint about that from me , but with more shares will this dilute the holdings of others . Apparently, only being offered to specific existing shareholders.....therefore the percentage of those not included will be diluted. 1 Quote Link to post Share on other sites More sharing options...
Frankie 8,529 Posted August 15, 2018 Share Posted August 15, 2018 12 minutes ago, compo said: Therefore securing their hold on the club no complaint about that from me , but with more shares will this dilute the holdings of others . Some will be diluted but the club needs money and as long as those investing are agreeable to the supporters then it may be a necessary evil. 2 Quote Link to post Share on other sites More sharing options...
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