BEARGER 1,829 Posted September 19, 2018 Share Posted September 19, 2018 POLL: Takeover Panel - Dave King share sale undertaking Members will be aware that the Chairman of Rangers International Football Club PLC (RIFC),Dave King, is being pursued by the Takeover Panel to make an offer for all of the shares in RIFC at a price of 20p, the same price at which the recent RIFC share issue was approved. The Takeover Panel’s action was prompted by a complaint from David Somers, who resigned as Chairman of RIFC’s Board shortly before the March 2015 meeting that installed the current regime at RIFC. The action by the Panel is just one unfortunate consequence of Somers’ time at our Club. We need hardly remind members of other misfortunes that befell the Club during the period he was Chairman. As Members will be aware, the purpose for which Club 1872 was formed was to acquire shares in RIFC, not to sell them. Far less to sell them at the same price we have just acquired them in the share issue and dilute our influence and participation in RIFC. We have been asked whether our CIC will sign an irrevocable undertaking not to sell our shares in RIFC at a price of 20p. This may assist in bringing matters with the Panel to an end by persuading them to reduce the cash confirmation they will require before an offer can be made. Such a decision is clearly one to be taken by our members. We would therefore ask you to vote by clicking the link below and logging in to your account - you will then be automatically redirected to the poll. The poll will close at midnight on Wednesday 26th September: VOTE HERE Club 1872 Issued by Supporters Voice Limited, a Club 1872 company 1 Quote Link to post Share on other sites More sharing options...
rbr 1,247 Posted September 19, 2018 Share Posted September 19, 2018 There is just no end to club1872 embarrassing themselves ,this has nothing to do with club1872 , will in no way affect the TOP decisions or alter anything , who ever thought this was a good idea to ballot members on needs their head examined , and only blows any semblance of impartiality right out the window . Im actually starting to get embarrresed at being a member . 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,245 Posted September 19, 2018 Share Posted September 19, 2018 Why? I mean, I am not exactly clued up about what they intent to do, but would assume that they would not suggest the above after talking it through with people who are clued up? 1 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted September 20, 2018 Share Posted September 20, 2018 4 hours ago, rbr said: There is just no end to club1872 embarrassing themselves ,this has nothing to do with club1872 , will in no way affect the TOP decisions or alter anything , who ever thought this was a good idea to ballot members on needs their head examined , and only blows any semblance of impartiality right out the window . Im actually starting to get embarrresed at being a member . It affects the amount dave king has to deposit before the offer is made. Not sure club 1872 should get any flack for this. They wont sell the shares anyway. Agreeing to do so before hand can only help. Any criticism is for dave king. 0 Quote Link to post Share on other sites More sharing options...
RabiDuck 89 Posted September 20, 2018 Share Posted September 20, 2018 Dave King needs to have secured funds to cover his liability in the event all offers are taken up when he makes his mandated offer required by the TOP. C1872 are suggesting they offer a secured promise not to take up the offer, meaning that King wouldn't need to secure funds for that element of the offer (if the TOP agreed) meaning he'd need to have a lower level of secured funds. Seems a sensible move but unlikely to make too much difference in the long run. It might make the provision of those secured funds easier so the whole situation can be put to rest. That would be a good thing. 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted September 20, 2018 Share Posted September 20, 2018 How many penny shares were given out? Those people will possibly cash in. 0 Quote Link to post Share on other sites More sharing options...
BEARGER 1,829 Posted September 20, 2018 Author Share Posted September 20, 2018 (edited) 13 minutes ago, pete said: How many penny shares were given out? Those people will possibly cash in. McCoist for one, invested £10K in penny shares. Green sold his to S. Easdale. McCoist also bought more in 2nd issue, not sure of share price but think it was 20p. Edited September 20, 2018 by BEARGER 0 Quote Link to post Share on other sites More sharing options...
stewarty 1,876 Posted September 20, 2018 Share Posted September 20, 2018 8 minutes ago, BEARGER said: McCoist for one, invested £10K in penny shares. Green sold his to S. Easdale. McCoist also bought more in 2nd issue, not sure of share price but think it was 20p. Although McCoist has since said that he intends for the shares to remain in his family and something he wants to pass on. And I believe him on that. 0 Quote Link to post Share on other sites More sharing options...
rbr 1,247 Posted September 20, 2018 Share Posted September 20, 2018 5 hours ago, the gunslinger said: It affects the amount dave king has to deposit before the offer is made. Not sure club 1872 should get any flack for this. They wont sell the shares anyway. Agreeing to do so before hand can only help. Any criticism is for dave king. 100% agree they wouldn't sell their shares , sorry our shares , that's why this email is ridiculous , someone at board level , probably our snake oil salesman of a company secratery has come up with this and the useful idiots at club1872 have doffed their cap . 0 Quote Link to post Share on other sites More sharing options...
RabiDuck 89 Posted September 20, 2018 Share Posted September 20, 2018 1 minute ago, rbr said: 100% agree they wouldn't sell their shares , sorry our shares , that's why this email is ridiculous , someone at board level , probably our snake oil salesman of a company secratery has come up with this and the useful idiots at club1872 have doffed their cap . The email relates to C1872 issuing a formal declaration that they won't sell at this time. It seems sensible that the membership be consulted before such a communcation is given, if only to appease the TOP that it's a considered decision and not a unilateral one by the C1872 executive. 2 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.