Did the MSM learn anything from the Rangers saga?


In the last line I meant to say “share issue” …

Comment on Did the MSM learn anything from the Rangers saga? by nickmcguinness.

In the last line I meant to say “share issue” not “shareholding”.

nickmcguinness Also Commented

Did the MSM learn anything from the Rangers saga?
I asked the other night if anyone had a copy of the presentation Charles Green made to potential investors before the CVA was rejected.
Now it’s turned up on kerrydalestreet.co.uk – and you can log on to it here:


The document shows that Zeus Capital hired Green on 10% commission to raise up to £30m for Sevco 5088.
And investors were told that if they invested in Sevco, they could own up to 85% of RFC PLC’s shares, with the other 15% being owned by 26,000 “fan investors”.
What does this mean?
It means that Green had reached agreement with Duff & Phelps and WHYTE to sell the wee chancer’s shares for him.
And if the CVA failed? There was a contingency plan to cover that too.
Perhaps involving a later share issue?
I keep saying it . . .
Ticketus and Whyte are THE key players in this Sevco farce.

Duff & Phelps, Green and Zeus (and Ticketus and Whyte) are desperate, really desperate, to get this shareholding stitched up and presented as a “fait au complet” before BDO get a chance to unravel this scandal.

Did the MSM learn anything from the Rangers saga?
More international distraction appears just a day after it was revealed that Brian Stockbridge — only a few weeks after being hired by Zeus Capital — was sent to Glasgow and put up in a house in Bearsden in early March.
That was two weeks before even the first deadline for RFC PLC RIP bidders had elapsed.
Stockbridge immediately set up an investment firm in his own name and registered it to the Bearsden address.
Soon afterwards prospective bidders (including the Blue Knights) were engaged by “representatives” from Ticketus in discussions about joint takeover bids.
In early May Ticketus announced they were stepping back from dealing with potential bids.
Days later it emerged that Charles Green (hired by Ahmad and Stockbridge) was not only a bidder, he had secured a takeover no matter what happened.
Ignore the distractions . . . Ticketus is the story.

PS, As for Whyte, the Update from Fudd and Duffer (which admits unsecured creditors will get F*** All) shows the value of Heritable Property was £1.5m.
It states the Newco bought the RFC business, history and “certain assets”.
Later it adds that Murray Park and Ibrox were sold, but is non-specific about who they were sold to.
And as regards Rangers FC Group (formerly Wavetower), the Update reveals that there is “no indebtedness” to RFC Group.
Could it be that the “indebtedness” to RFC Group was satisfied by the sale of Murray Park and Ibrox?

Recent Comments by nickmcguinness

Two wrongs and a right
Dear JC,
Ya mug  (:-0)
It’s a Studio C spoof. Very funny, though.

SFM – The Next Steps
EasyJambo and tykebhoy,

Looks like Paul Murray has signed a form in May confirming that no security or floating charge can be granted over Murray Park without the prior consent of SportScotland . . .
Four months after the company gave Mike Ashley security over Murray Park, Edmiston House and the Albion Car Park.
I can see this getting nasty.
Welching on loans, a lying crook in charge, warnings that any investment is unlikely to make a profit.
Yup, I can just see the institutional investors queueing up to put more dosh into this car crash..
Now is the summer of their discontent (and discount tents).

A Sanity Clause for Xmas?
RE Ashley and Craig Whyte,

Their connection goes back to the founding and funding of the Sevco scam:

View post on imgur.com

Whyte and Jim Park did a deal with him that saw Ashley take almost 9% of the Sevco 5088/Scotland shares.
What kind of hard bargain did Ashley drive for that?
And if there is any type of “contingent liability” on the properties, he is in a very good position to find out exactly what it is . . . if he doesn’t already know.
Ashley was in from the start.
The Easdales represent the Blue Pitch/Margarita clan that were in from the start.
The people controlling the Rangers board have a vested interest in preventing any outsiders from having a look “under the bonnet” at what has happened at Ibrox over the last two and a half years.
All the Three Bears, King and others can do is threaten an EGM and hope they get 51% of the shares to vote them off.
If that looks likely, RIFC will go into administration/liquidation with ALL of its assets compromised.
What a mess!
The atmosphere at Ibrox tomorrow night could be quite nasty.

A Sanity Clause for Xmas?
That statement: ““The business strategy remains for the club to keep Ibrox Stadium and Murray Park free from any kind of security over bank debt” should ring a bell.
RIFC have boasted on many occasions that they don’t have any bank debt . . .
because no bank will give them credit.
So when they say that Ibrox and Murray Park WON’T be used as security over bank debt it does not take a huge leap of presumption to believe that Ibrox and Murray Park CAN’T be used for security.

A Sanity Clause for Xmas?
Also worth bearing in mind that Rangers FC Group Ltd, Craig Whyte’s “holding company” (previously Wavetower) had a Fixed and Floating Charge recorded on March 24, 2012, in favour of Liberty Corporate Ltd (director: Craig’s dad Thomas) “Over The Undertaking and All Property and Assets Present and Future, Including Goodwill, Bookdebts, Uncalled Capital, Buildings, Fixtures, Fixed Plant & Machinery”.
This was recorded before the Sevco deal was done.
Now, what “property and Assets” of RFC PLC RIP could Rangers FC Group lay claim to?

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