BEARGER 1,829 Posted April 12, 2023 Share Posted April 12, 2023 From the Sun!! Ex-Rangers chairman Dave King reveals he rejected bumper £25m offer for stake in Ibrox club DAVE KING says he’s rejected a whopping £25.3million offer for his stake in Rangers. The former Ibrox chairman, who owns just over 63million shares in the club, revealed he was approached by an unnamed bidder last month. King had previously met with American businesswoman Kyle Fox — but the offer DIDN’T come from the States. The tycoon said talks with a consortium took place less than two weeks after Gers issued 7.7m new shares at 25p each. King said: “I recently turned down an unconditional cash offer of 40p from a group other than Kyle Fox’s, so 40p is presently a fair price. “But 25p undervalues the price of the shares by almost 40 per cent. “I wonder how the board would react if supporters asked for a 40 per cent discount on next season’s ticket prices?” King is furious that new shares were issued just days before his successor Douglas Park announced he was standing down as chairman. Gers will raise almost £2m if those shares are sold for cash. But it’s unclear whether they are converting loans into equity, as they have done in the past. 0 Quote Link to post Share on other sites More sharing options...
gaspard 562 Posted April 12, 2023 Share Posted April 12, 2023 Maybe his dad, Geppetto, will buy his shares from him 4 Quote Link to post Share on other sites More sharing options...
Gonzo79 13,597 Posted April 12, 2023 Share Posted April 12, 2023 Post. As. Plain. Text. Please. Thank. You. Also, f*ck The Sun newspaper. 3 Quote Link to post Share on other sites More sharing options...
stewarty 1,876 Posted April 12, 2023 Share Posted April 12, 2023 So King thinks the shares are undervalued, yet knocks back an offer which he himself considers to be a fair value. Filed under the burgeoning folder titled "Dave King Bullshit" 3 Quote Link to post Share on other sites More sharing options...
Popular Post Bluedell 5,329 Posted April 12, 2023 Popular Post Share Posted April 12, 2023 So King was happy to sell his shares to C1872 a few months ago at 25p but turned down 40p? This party has £25m to buy shares from King for 14.2% of the club. The board are willing to issue shares at 25p, so if they had got new shares from the club they could have owned 18.5% of the club, which would be £25m better off, but this party would prefer to buy shares from King? 40p a share values the club at £177m. It's inherently loss making and has net assets of £41m so is the valuation of 40p realistic? King, of course, wishes to make this story public after an OF defeat. 7 Quote Link to post Share on other sites More sharing options...
Bill 13,717 Posted April 12, 2023 Share Posted April 12, 2023 1 hour ago, Bluedell said: So King was happy to sell his shares to C1872 a few months ago at 25p but turned down 40p? This party has £25m to buy shares from King for 14.2% of the club. The board are willing to issue shares at 25p, so if they had got new shares from the club they could have owned 18.5% of the club, which would be £25m better off, but this party would prefer to buy shares from King? 40p a share values the club at £177m. It's inherently loss making and has net assets of £41m so is the valuation of 40p realistic? King, of course, wishes to make this story public after an OF defeat. Waiting patiently for Rangers to ridicule King's latest nonsense. 0 Quote Link to post Share on other sites More sharing options...
Malangsob 1,203 Posted April 12, 2023 Share Posted April 12, 2023 A bit off topic. Are Rangers shares publicly traded? Exchange? I would love to throw a couple bucks into the team. I wish they still issued stock certificates...that would be worth the purchase price alone. Get Super Ally's sig on one. Frame that up...sheeeeeit son! 0 Quote Link to post Share on other sites More sharing options...
ranger_syntax 3,765 Posted April 12, 2023 Share Posted April 12, 2023 I'm off to raise money to buy a bunch of shares, at 25p, from the club. I'll sell them to Dave's mates for 40p each. 3 Quote Link to post Share on other sites More sharing options...
ranger_syntax 3,765 Posted April 12, 2023 Share Posted April 12, 2023 3 minutes ago, Malangsob said: A bit off topic. Are Rangers shares publicly traded? Exchange? I would love to throw a couple bucks into the team. I wish they still issued stock certificates...that would be worth the purchase price alone. Get Super Ally's sig on one. Frame that up...sheeeeeit son! DM me for the chance to get in at 40p per share. 2 Quote Link to post Share on other sites More sharing options...
gaspard 562 Posted April 12, 2023 Share Posted April 12, 2023 3 minutes ago, Malangsob said: A bit off topic. Are Rangers shares publicly traded? Exchange? I would love to throw a couple bucks into the team. I wish they still issued stock certificates...that would be worth the purchase price alone. Get Super Ally's sig on one. Frame that up...sheeeeeit son! McCoists signature is worth as much as Dave Kings word. 1 Quote Link to post Share on other sites More sharing options...
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