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Rangers AGM Updates


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23 minutes ago, ian1964 said:

I thank Dave King for all he has done, and will continue to do, for Rangers, a true Rangers fan who stepped up to the plate

The very thought of Ashley and Llambias running the show was enough to to make me sick .

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1 hour ago, ian1964 said:

King to dismantle holding company

King plans to dismantle the Rangers holding company and fold the shares into the football club.

https://www.dailyrecord.co.uk/sport/football/football-news/rangers-agm-2019-live-dave-20961315

I don't know how they do this, other than a share issue in the football club going to shareholders in the holding company and a transfer of trade and assets.

 

Not sure as to the reasons. It gets rid of the company called Sevco, and there could be some other legal reason linked to an ongoing case, but you can't get rid of liabilities by just transferring the trade to a subsidiary, or everyone would be doing it, so the other reasons are unclear.

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Dave King.

 

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The fact that the previous board and other parties agitated with the Takeover Panel in an effort to have me excluded from assisting in Rangers recovery created many personal complications for me with the exchange control authorities in South Africa and cost me over a million pounds in wasted litigation costs related to my status to make the offer.

In fact, the South African exchange control involvement in reviewing what was going on at Rangers had a subsequent negative impact on the Club. Since year-end I put in an additional £5 million pounds to assist with the immediate funding of our summer transfer business. The South African authority would not approve a further investment in shares in Rangers and eventually only approved a loan on an interest earning basis. That is one reality I face from living in a country that continues to have capital controls.

 

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53 minutes ago, Bluedell said:

I don't know how they do this, other than a share issue in the football club going to shareholders in the holding company and a transfer of trade and assets.

 

Not sure as to the reasons. It gets rid of the company called Sevco, and there could be some other legal reason linked to an ongoing case, but you can't get rid of liabilities by just transferring the trade to a subsidiary, or everyone would be doing it, so the other reasons are unclear.

i am no expert but it looks to me as it puts an end to effectively having two companies to run the football club? 

 

i can’t see it having anything to do with sports direct, but possibly for a future share issue with non-supporter investors?

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