Armageddon? What Armageddon?

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what’s the chances of this leading anywhere

Jun 16, 2014 16:49
By Gary Ralston
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MARK DINGWALL, a former chairman of the Rangers Supporters Trust, claims Easdale is a shadow director of the club’s parent company and has reported him to the Stock Exchange.

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Rangers shareholder Sandy Easdale

A LEADING Rangers fan has reported Ibrox investor Sandy Easdale to the financial authorities over alleged insider dealing.

Mark Dingwall, former chairman of the Rangers Supporters Trust, claims Easdale made a paper profit from buying shares on the back of knowledge in a statement to the BBC to which he should not have been privy.

Dingwall, moderator of the followfollow fan website, has written to the Stock Exchange, Financial Conduct Authority and Rangers NOMAD Daniel Stewart asking them to investigate.

In his correspondence, which has been seen by Record Sport. Dingwall also claims Easdale, who has a conviction for a £1.5million VAT fraud, is effectively acting as a shadow director of Rangers International FC plc, the parent company of the football club.

His brother James Easdale is a director of Rangers International, but Sandy is chairman only of the Rangers football board.

Dingwall was prompted to act after Sandy described the club’s finances in a BBC interview on April 24 as “fragile” ahead of the release of the club’s eagerly-awaited 120 day business review.

Dingwall has written: “I wish you to investigate the possibility that Mr Alexander James Easdale is acting as a shadow director of Rangers International Football Club Plc and has used knowledge derived from such a position to enrich himself via the buying of shares in the company.

“Mr Easdale is a director of the wholly-owned subsidiary company, The Rangers Football Club Ltd, but with apparent access to RIFC Plc financial information.

“He made a public statement on April 24 this year – prior to the 120-day business review issued the next day by RIFC – stating the financial position of the club was ‘fragile’.

“Mr Easdale appears to have attended an RIFC Board meeting (and his brother is a member of the RIFC Plc Board) that day and certainly appears to have knowledge of the content of the commercially sensitive 120 Day Review prepared by the company.

“On April 24 the share price was 26p. That day after he made his statement it fell to 22p.

“Mr Easdale bought 57,043 shares at 23p on May 1. By May the 8 the price had recovered to 27p.

“It is also noteworthy that Mr Easdale holds the voting rights to, but does not own, shares representing a further 22.10 per cent of RIFC Plc.

“I believe that, if he does have privileged financial information, those shareholders he holds proxies for may also have access to it or otherwise benefit from that knowledge.”

At 23p, Easdale’s share purchase cost him £13,119.89 – £1700 less than it would have on April 24. Had he chosen to sell the shares on May 1, when the price reached 27p, he would have made a profit of almost £2,300.

Rangers and Sandy Easdale declined to comment.”

the taxman cometh Also Commented

Armageddon? What Armageddon?
Para Handy says:
June 12, 2014 at 4:40 pm

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How much would they get for MP? I suppose the loss of £1.5m in monthly outgoings is as important, however, they need to cut deeper than that.

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well green got both iPox and MP for 1.5M 2 years ago


Armageddon? What Armageddon?
Paulmac2 says:
June 12, 2014 at 12:35 am
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SouthernExile says:
June 11, 2014 at 11:55 am
…………………………………
So we agree it was a purchase of assets….the question then follows did that purchase of assets prevent the employees from continuing to work/play football for their current employer?…

It matters not that CG purchased assets to start a football club to play football…his purchase did not prevent the players from continuing to play football for their current employer…in that scenario a spiv does not have to accept TUPE as a factor of purchase…it would be for D&D to detail how the purchase of assets prevented the players from playing football and include TUPE in the asset sale…with both football clubs existing at the same time and the old club the only one with a licence to play association football at the time of asset sale… thus the only one in a position to guarantee employment…

I have never heard of anyone agreeing to a TUPE to unemployment?…which is what was on offer at that time.

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All the players TUPE across?

Why then did Sevco Scotland have to get permission from RFC to use their players in the Ramsden’s cup tie of 29/07/12?


Armageddon? What Armageddon?
Charlotte2Weeks ‏@Charlotte2Weeks 10m
1: Daniel Stewart OK’d new share issue. Agreed with Laxey, Margarita and BP.

2: Alexander Easdale to be CEO.

3: Share issue is final.


Recent Comments by the taxman cometh

.. and they wonder why nobody buys papers
given UEFA stance on sevco being a new club I think whoever has access to said letter should contact uefa to explain this http://www.uefa.com/teamsandplayers/teams/club=50121/domestic/


The Offline Game
Tlm
any closer to offering an explanation of how rifc plc own rfc how do they prove ownership and where does trfc ltd fit into all this have you been able to find rfc’s list of members or constitution yet if not why


The Offline Game
ah 

so rfc IS the club

how does rifc own it?

how does it prove ownership?

how can a team hold membership of the sfa?


The Offline Game
TLM
lol

So rfc isn’t the club?

please explain how rifc own rfc

please explain how a team can be a member of the sfa


The Offline Game
TLM
Please explain what a club is?
Who owns RFC
How can they prove ownership?
Please supply a link to the RFC’s constitution and list of members


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