The Immortality Project

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HirsutePursuit says: September 6, 2013 at 8:43 pm ====================== In short, it …

Comment on The Immortality Project by Tif Finn.

HirsutePursuit says:
September 6, 2013 at 8:43 pm

======================

In short, it changed legal entities.

The business which had been set up as a members club decided to become a limited company. There are several reasons for doing this, it is a perfectly legitimate and normal thing to do. It could be to protect it’s shareholders and “limit” their liability to the extent of their shareholding. It could be to raise funds by selling off part of the business, their “share” and get new money in.

It happens all the time, sole proprietors, partnerships, whatever, become a limited company. The important point though is that it is the same business. Still has the same assets, still has the same contracts, debts etc. In footballing terms the important thing is that it carries on as the same business playing in the league and taking forward anything they have won. The same history if you will.

The private limited company can later float on the stock exchange. However the main thing is it is, again, the same business. Same assets, same debts, same creditors, same history.

There is a direct and clear audit trail for the business which is a football team starting as a members club, becoming a limited company, becoming a PLC. Carrying it’s history throughout. There is no way anyone could claim that continuation without accepting it is the same business. It is just nonsensical.

So when that PLC is liquidated it is that business which is liquidated. The particular type of entity it happened to be at the time is really irrelevant. It could have been a private members club a limited company a PLC an LLP an LLC it really would not have mattered on jot.

Tif Finn Also Commented

The Immortality Project
ecobhoy says:
October 3, 2013 at 8:38 pm

Forgive my ignorance, will they definitely be ordinary shares.


The Immortality Project
Danish Pastry says:
October 3, 2013 at 8:44 pm

To be worthwhile the landlord would have to have a long term tenant in mind. One which was a viable business which could afford to pay a decent rent.

I am told, vociferously and often, that Ibrox Stadium and Murray Park have very limited use which cannot be changed, so it really needs to be some sort of sporting club based in Glasgow as your tenant.

It’s a limited market you have there.


The Immortality Project
http://www.rangersinternationalfootballclub.com/

Rangers International Football Club PLC

This is the website for Rangers International Football Club plc, the holding company of The Rangers Football Club. The Official website for The Rangers Football Club can be accessed at www.rangers.co.uk

The following information set out below is being disclosed for the purposes of Rule 26 of the AIM Rules for Companies:

Rangers International Football Club plc is a football club based in Glasgow, Scotland. Further information on the Company’s operations are detailed under Business Overview.

Brief biographies for the Directors of the Company and details of the Directors’ responsibilities and committees of the Board are detailed under Board & Management.

The Company is incorporated in Scotland with registration number SC 437060 and its main country of operation is Scotland.

The Company’s ordinary shares of 1 pence each are admitted to trading on AIM, a market operated by the London Stock Exchange plc (“AIM”), and are freely transferable. Details of the number of shares in issue, major shareholders and the percentage of shares that are not held in public hands are detailed under Share Information.

The Company’s Annual Report and Accounts and Interim Accounts are available at Reports & Accounts.

The Company’s press releases are detailed under Regulatory Announcements.

A directory of the Company’s key advisers, including the nominated adviser, is detailed under Advisers.

The Company’s prospectus and articles of association are available to be downloaded from Circulars & Admission Document.

—————————————————————————–

“Rangers International Football Club plc is a football club based in Glasgow, Scotland.”

Is it really, it must be a fairly new one then. Neither it or the Ltd Co it was formed from has been about very long.

There was me thinking it was a holding company which owned a new football club. Turns out it actually is the new football club.


Recent Comments by Tif Finn

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