Club1872 share purchase

[BEARGER 1,829]

Club 1872 Share Purchase

Dear Contributor,

Club 1872 can today announce the purchase of 1,250,000 shares from a private seller at the price of 20p per share for a total of £250,000. This represents a 20% discount on the price that shares are currently being issued by the RIFC Board and takes Club 1872 back above 5% shareholding in RIFC. 

Although RIFC has held three small share issues already in this calendar year, and although we remain in the process of trying to organise a meeting with the RIFC Board, Club 1872 has not been asked to participate. We were also not aware of the existence of these share issues prior to the detail being posted on Companies House. We cannot therefore provide any information to Contributors or the wider support at this time on the purpose of this fund raising.

In the absence of shares being on offer from RIFC, the Club 1872 Board has been working hard to find avenues to continue to grow our shareholding and fulfil the core purpose of Club 1872 Shares CIC. We would like to thank the private seller for their support of Club 1872 and their wish to see their shares remain in the hands of supporters. 

The Board would also like to once again thank our Contributors for their dedication to Club 1872, which allows us to remain a major shareholder in RIFC. We would encourage all Rangers supporters to join Club 1872 in order to retain a crucial, major shareholder voice in the club we all love.

Club 1872

[BEARGER 1,829]

Who apart from Dave King would have 1,250,000 shares to sell to Club1872? 

[Bill 13,717]

I just can't see the point of purchasing these shares. What is it that Club1872 can do today that it couldn't do when that £250,000 was still in the bank. Even with these additional shares, Club1872 has no practical authority to do anything and long ago became separated from any ability to fulfil its stated objectives. The entire organisation seems to have degenerated into a pissing contest with the Rangers board and there can be only one winner there.

[CammyF 6,897]

It appears that with the recent share issue(s) by the club had diluted Club1872s share % and left them under the required number of shares required to have voting rights. This purchase (of DK 20p shares?) means Club1872 have sufficient shares to have voting rights.

Edited April 24, 2023 by CammyF

[Bill 13,717]

45 minutes ago, CammyF said:

It appears that with the recent share issue(s) by the club had diluted Club1872s share % and left them under the required number of shares required to have voting rights. This purchase (of DK 20p shares?) means Club1872 have sufficient shares to have voting rights.

Voting rights to achieve what?

 

Whatever they think of themselves, Club1872 is a tiny irrelevance with no influence whatsoever on the principal shareholders they seem determined to go to war with. A classic example of personal egos getting in the way of reality. That money could have been put to so many better uses for the benefit of club and fans alike.

[Bluedell 5,356]

2 hours ago, BEARGER said:

Although RIFC has held three small share issues already in this calendar year, and although we remain in the process of trying to organise a meeting with the RIFC Board, Club 1872 has not been asked to participate. We were also not aware of the existence of these share issues prior to the detail being posted on Companies House. We cannot therefore provide any information to Contributors or the wider support at this time on the purpose of this fund raising.

In the absence of shares being on offer from RIFC, the Club 1872 Board has been working hard to find avenues to continue to grow our shareholding and fulfil the core purpose of Club 1872 Shares CIC. We would like to thank the private seller for their support of Club 1872 and their wish to see their shares remain in the hands of supporters. 

 

Maybe they could have said to the board that they had cash to invest? They don't need to wait for a meeting. They could have sent off an email. 

[forlanssister 3,060]

4 hours ago, BEARGER said:

Who apart from Dave King would have 1,250,000 shares to sell to Club1872? 

Easdales among others.

 

I'm certain if they wanted to hand Rangers £250k in exchange for shares it would have been accepted.

[CammyF 6,897]

2 hours ago, Bill said:

Voting rights to achieve what?

 

Whatever they think of themselves, Club1872 is a tiny irrelevance with no influence whatsoever on the principal shareholders they seem determined to go to war with. A classic example of personal egos getting in the way of reality. That money could have been put to so many better uses for the benefit of club and fans alike.

But the current board won't sell shares to Club1872 so I can't see what other option they have. 

 

The club diluted every shareholders shares with the latest issue, so Club1872 have purchased more (we can only assume it was from DK) - I really can't see what people are getting so worked up about. 

 

For a group who are a "tiny irrelevance",  people have a lot to say about them, especially those who aren't members.

 

For the record I am no longer a member of Club1872 but have no issue with them purchasing shares (as that is what they were set up to do).

 

[forlanssister 3,060]

Just now, CammyF said:

But the current board won't sell shares to Club1872 so I can't see what other option they have. 

 

The club diluted every shareholders shares with the latest issue, so Club1872 have purchased more (we can only assume it was from DK) - I really can't see what people are getting so worked up about. 

 

For a group who are a "tiny irrelevance",  people have a lot to say about them, especially those who aren't members.

 

For the record I am no longer a member of Club1872 but have no issue with them purchasing shares (as that is what they were set up to do).

 

That is simply untrue 

[CammyF 6,897]

4 minutes ago, forlanssister said:

That is simply untrue 

It isn't... 

 

The club refused to sell Club1872 shares at 25p a share, so they bought shares from someone at 20p per share.

 

The club diluted shareholding and pushed Club1872 holding under 5% - Club1872 purchased more shares and are now above the 5% threshold.

 

I await the club issuing more shares to push Club1872 under the 5% then Club1872 purchasing more shares for 20p and the cycle will continue

 

Edited April 24, 2023 by CammyF