The Real Battle Begins?

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Twopanda says: Saturday, December 15, 2012 at 09:52 Cheers,Twopanda, Did as suggested …

Comment on The Real Battle Begins? by torrejohnbhoy.

twopanda says:
Saturday, December 15, 2012 at 09:52

Cheers,Twopanda,
Did as suggested and there it was.
19th Dec for trading.
Mind you,it also says expected sum raised £27m!

torrejohnbhoy Also Commented

The Real Battle Begins?
Carfins Finest. (@edunne58) says:
Monday, December 17, 2012 at 14:51

From Twitter@ Took me a second or two……worth a read.

http://swivel-eyeddavieleggat.blogspot.co.uk/2012/12/montrose-john-francis-xavier-paton-and.html?m=1
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Not a lot you can say about this piece of dross.
Typical Leggat.


The Real Battle Begins?
Just heard Charlie on the news,justifying the timing of the IPO.
“I promised the fans the issue before Christmas and I’m honouring that promise,my “FINAL” promise to the Rangers fans”

Wonder what he means?.


The Real Battle Begins?
easyJambo says:
Saturday, December 15, 2012 at 11:05

torrejohnbhoy says: Saturday, December 15, 2012 at 09:39

Morning all.
Just wondering if anyone knows how share issues normally work.
Do most applications come in during the first few days or is there normally a rush at the end?.
If the former,can we assume that the reported figure of £1.25m raised up to now is not good?.
Add the £90k pledged through the RST and there’s probably not even enough to pay the costs of the issue.
Would there normally be a rush before closing date?.
When does trading start?.
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There is a current example with Hearts although the situation and the appeal for funds is a bit different. Hearts share offer opened on 27th Oct and will end on 19th Dec, a period of 7.5 weeks.

Hearst reported that they had raised £500K in the first three weeks. The last report was that the total had reached £800K after 7 weeks, so there is a clear drop off after the initial surge.

I said that the circumstances are a bit different. By that I meant that there have been a number of fund raising events which took a week or two to organise, thus there was a substantial amount raised between two and three weeks into the offer.

Will a straight share offer like RIFC, I’d expect the take-up to fall off more rapidly, with maybe a little peak in the last couple of days. As a rule of thumb, I’d adopt the 80/20 rule. i.e. they will receive 80% of the funds in the first 20% of the offer period.
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So if the figures reported are correct,then there’s around another £300k only.
That’s a total somewhere around £1.75m.That’s not enough to cover the costs of the issue(£2.5m I think).
how does this impact on Chuckles “Stadium Upgrade” and “Working Capital” projections?.


Recent Comments by torrejohnbhoy

THAT Debate, and the Beauty of Hindsight
easyJamboMay 3, 2017 at 10:11 
torrejohnbhoy(@johnbhoy1958) May 3, 2017 at 10:00  Good morning all. not been as active on the site lately as I would like.Grandparent duties seem to be more time consuming than I thought . Trying to keep up to date though. Thought it may be of interest to some that it appears someone has successfully petitioned the court to have MIH(IL) re-instated at Companies House,9 months after being put into liquidation. ============================== I have an hour or two off grandparenting duties just now before a nursery pickup, so I’m catching up too.
That is an odd one re MIH.  There is no indication on the document of who has requested that the company be reactivated, or why.  Perhaps it’s been in Bill Miller’s incubator for the last few months, and is ready to emerge as a healthy new company having been cleansed of its tarnished past, not to mention £700m of debt.
===================================
Sorry for taking a while to get back,EJ.If I’ve mastered this link pasting thing you may find some more info here:

https://t.co/ZZUECmsdur


THAT Debate, and the Beauty of Hindsight
Good morning all.
not been as active on the site lately as I would like.Grandparent duties seem to be more time consuming than I thought19.
Trying to keep up to date though.
Thought it may be of interest to some that it appears someone has successfully petitioned the court to have MIH(IL) re-instated at Companies House,9 months after being put into liquidation.


Small Price to Pay?
SmugasFebruary 7, 2017 at 16:35       Rate This 
Cant do linkey things but BBC reporting BDO are going after D&P.
Interesting development. 
————————–
Here you go:
The liquidators of Rangers Football Club plc have launched a multi-million pound legal action against the company’s former administrators.
The claim has been lodged by BDO against Paul Clark and David Whitehouse of accountancy firm Duff & Phelps at Edinburgh’s Court of Session.
BDO are seeking up to £28.9m following Clark and Whitehouse’s handling of the administration process.
Rangers entered administration in February 2012.
Four months later, the company’s business and assets were sold to a consortium led by Charles Green for £5.5m.
BDO were then appointed as liquidators, and have since conducted a review of the events leading up to administration through to the sale of the assets.
‘No other option’In November 2014, BDO agreed a settlement for £24m in a claim against Collyer Bristow, the legal firm that acted for Craig Whyte in his purchase of Rangers Football Club plc from Sir David Murray in May 2011.
Those funds were added to the creditors’ pot, as will any monies raised from the legal action against Clark and Whitehouse.
In a statement, BDO said: “The joint liquidators, following extensive deliberations with their professional advisors and the liquidation committee, have taken the decision to issue a claim against the former Rangers’ administrators Paul Clark and David Whitehouse, of Duff & Phelps.
“During the course of the liquidation, questions have arisen regarding the strategy previously adopted by the former administrators, which have not, to date, been adequately answered.
“In seeking clarity, the joint liquidators have been left with no other option but to pursue the matter via the Scottish Court. The joint liquidators look forward to the resolution of this matter.”
Criminal charges against Clark and Whitehouse relating to their involvement with Rangers Football Club plc were dropped in June 2016.
Duff & Phelps have been approached for comment.

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-38896812?utm_source=dlvr.it&utm_medium=twitter


Peace – Not War
Afternoon all.
It seems this mornings RIFC AGM can be summed up as follows:
1. It’s Ashleys Fault.
2.We’re skint.
3.We’ll need to borrow more for the forseeable future.
No word on Res 11 with result of the vote to be announced next week.I’d have thought by now the RIFC board would have an idea of how things stand.They did say that the Ashley/Easdale alliance would not be supporting the resolution.Same old stuff about “getting back where we belong”,challenging CFC & competing in Europe.No one explained how admitting that borrowing will need to continue for seasons to come sits with UEFA & their FFP regulations.I’m sure the SFA are on this as we speak.
No real sign of drum beating,though.FWIW.the directors looked broken when boarding the bus when leaving the Armadillo.They couldn’t look anyone in the eye.No statements,smiles etc.Mark Warburton even had a “minder” when being interviewed.
Normally,reading between the lines I’d have said they’ve lost Res 11 but with most things RIFC/TRFC,you just don’t know.


Peace – Not War
Evening all.
Interesting wee twitter debate earlier wrt a hypothetical insolvency event at TRFC and what the penalty would be.
If a new club,then 15 points but if the same club then 25.
The problem for the SFA(maybe why Regan’s a target) is that if they don’t administer a 25 point penalty then how do they explain 15 without admitting TRFC are new,something they have refused to do for over 4 years.If they did go for 25,they would then face the wrath of the TRFC fans who believe that,although they’re the same club,it should be 15 points because the club wasn’t liquidated last time,just the company!
Their refusal to apply the rules last time and then be a willing accomplice in a plot to lie to every football fan in Scotland has left them between a rock & a hard place.There’s no way out.


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