hibs.net Messageboard

View Poll Results: What is your attitude to a new "Rangers" entering at Div1?

Voters
960. You may not vote on this poll
  • Opposed - and will walk away from Scottish professional football

    527 54.90%
  • Opposed - but will continue to support the game.

    414 43.13%
  • In favour.

    19 1.98%
Page 1318 of 1318 FirstFirst ... 318818121812681308131613171318
Results 39,511 to 39,534 of 39534
  1. #39511
    @hibs.net private member Bostonhibby's Avatar
    Join Date
    Apr 2004
    Location
    lincolnshire
    Age
    57
    Posts
    12,462
    Quote Originally Posted by MrSmith View Post
    This quote is hidden because you are ignoring this member. Show Quote
    always baffled me, if its such a great business with great prospects, running itself compliantly and legally. no skeletons in the closet why wouldn't dodgy Dave want to hoover up all these shares? they're bound to rise in value.

    Come on open the warchest, it's spare change surely.

    "I did not need any persuasion to play for such a great club, the Hibs result is still one of the first I look for"

    Sir Matt Busby


  2. Log in to remove the advert

  3. #39512
    https://www.google.co.uk/amp/s/videocelts.com/2017/10/blogs/latest-news/king-is-skint/amp/

    Last edited by Brunswickbill; 12-10-2017 at 04:43 PM.

  4. #39513
    Quote Originally Posted by Brunswickbill View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Sorry but all I'm getting is 'Server not found' ??

  5. #39514
    Quote Originally Posted by Deansy View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Sorry but all I'm getting is 'Server not found' ??
    Try this

    https://videocelts.com/2017/10/blogs...king-is-skint/

  6. #39515
    @hibs.net private member silverhibee's Avatar
    Join Date
    Feb 2006
    Location
    Edinburgh
    Age
    51
    Posts
    20,288
    COUGH UP DAVE Judge urged to force Rangers chair Dave King to make £11million offer for remaining club shares in unprecedented order
    Advocate James McNeill QC told Lord Bannatyne that the Panel On Takeovers and Mergers believes the Ibrox boss hasn’t complied with the law - and should offer to buy the remaining shares.

    A JUDGE has been urged to pass an unprecedented order which would force Rangers chairman Dave King to make an £11million offer for the remaining shares in the club.

    Advocate James McNeill QC told Lord Bannatyne that the Panel On Takeovers and Mergers believes the Ibrox boss hasn’t complied with the law.

    The lawyer told the judge how the 2006 Companies Act dictates that entrepreneurs who hold a 30 per cent stake in businesses are compelled to make and offer to buy remaining shares.

    He said that financial investigators believe they have established that Mr King acted “in concert” with three wealthy fans who are nicknamed the “Three Bears”.

    The silk said that Mr King teamed up with George Letham, George Taylor and Douglas Park to acquire more than 30 per cent of voting rights in Rangers in late 2014.

    Mr McNeill told the Court of Session how financial investigators concluded that Mr King was in control of the shares and should be liable to make an offer for the remaining shares

    However, the Court of Session heard how Mr King told the investigators that he didn’t act with the three other businessmen.

    He told the financial investigators that 14 per cent of the shares were controlled a company called New Oasis Asset Management Limited which was registered in the British Virgin Islands.

    Mr King allegedly told investigators that these shares were purchased using money from his family trust.

    The businessman said the company was independent from him.

    However, the court heard that financial investigators had obtained emails showing that Mr Letham had been in touch with him over the share purchase.

    The investigators also concluded that Mr King controlled New Oasis Asset Management Limited shares and was therefore liable to follow company law and make an offer at 20 pence per share.

    Urging Lord Bannatyne to pass the order, Mr McNeil said: “Mr King is in fact in control of the voting rights.

    “The court should be satisfied that it can make an order seeking compliance under the legislation.”

    Mr McNeill was speaking on the first day of a two day debate at the Court of Session.

    The panel, which regulates deals in the UK, has stated that it had started proceedings in Edinburgh after Mr King ignored an order to make an offer for the remaining shares – this is despite the fact that the club is no longer listed.

    Under UK rules, any group of shareholders that builds up a 30 per cent stake in a public company has to make a cash offer to buy the rest of the shares at the highest price they have paid over the past 12 months.

    In Mr King’s case, this is 20 pence a share.

    It is the first time since the panel was granted enforcement powers more than a decade ago that it has sought a court order.

    On Thursday, Mr McNeil told Lord Bannatyne that on December 31 2014, the ‘three bears’ purchased 16.23 per cent of shares in Rangers.

    The lawyer then said that Mr King contacted financial services firm Cantor Fitzgerald and instructed that 14.73 per cent of the shares in Rangers be purchased.

    The court heard that the money used to buy the shares came from Mr King’s family trust. The shares were held by NOAML.

    Mr McNeill said the four men acted “in concert” with each other. He said that evidence of this came from an email that had been sent from Mr Letham to Mr King.

    The court heard that financial watchdogs had obtained a copy of this email. Mr McNeill said that in the email, Mr Letham reminded Mr King to “stay under” 30 per cent.

    Mr McNeill added: “It was a concert party and this can be shown in the email which was sent to Mr King. It shows that the people were aware of the mandatory offer provision when the 30 per cent barrier was met.”

    Mr McNeill said that Mr King told financial investigators that NOAML acted independently of him.

    The lawyer also said that Mr Letham told financial investigators that he and his other bears didn’t act with Mr King.

    Financial investigators then showed Mr Letham an email which showed contact between him and Mr King.

    Mr McNeill said: “When shown this email, Mr Letham said ‘that’s really surprising me.’”

    The court heard that financial investigators concluded that Mr King was in charge of the NOAML shares when he was able to remove members of the Rangers board in January 2015.

    Mr McNeill also said that financial investigators established that Mr King was in charge of the NOAML shares at an extraordinary general meeting of the club in March 2015.

    The lawyer said that NOAML hand’t responded to requests from financial investigators to explain the nature of the club and that Mr King also hadn’t provided information about the firm.

    Mr McNeill added: “He didn’t provide any evidence that NOAML exercised any action independent of him.”

    Mr McNeill said this entitled the panel to conclude that Mr King was in control of the 30 per cent shareholding stake and should make an offer to buy the remaining shares.

    The court also heard that Rangers shares are currently worth around 27 pence and Mr King would be expected to make an offer at 20 pence.

    The hearing, before Lord Bannatyne, continues.

  7. #39516
    “When shown this email, Mr Letham said ‘that’s really surprising me.’”


  8. #39517
    Quote Originally Posted by lapsedhibee View Post
    This quote is hidden because you are ignoring this member. Show Quote
    “When shown this email, Mr Letham said ‘that’s really surprising me.’”

    He was surprised - that one of his goat molesting cabal had let it be out there.....

  9. #39518
    Quote Originally Posted by HoboHarry View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Cheers Mate !

    King skint ?? Don't think he's ever had the famous 'Warchest' but neither do I believe he's skint - just another line to yet another court as he knows it would take ages to determine his actual financial position !



    Still, he passed the 'Fit & Proper' test so we can just move on .........................

  10. #39519
    Quote Originally Posted by Deansy View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Cheers Mate !

    King skint ?? Don't think he's ever had the famous 'Warchest' but neither do I believe he's skint - just another line to yet another court as he knows it would take ages to determine his actual financial position !



    Still, he passed the 'Fit & Proper' test so we can just move on .........................
    Oh I'm quite certain that SARS know precisely what he is worth and they will be watching him like a hawk. I doubt he is skint either but I also doubt he as is rich as the Sevco zombies think he is.....

  11. #39520
    @hibs.net private member Hibs Class's Avatar
    Join Date
    Apr 2007
    Posts
    5,092
    Quote Originally Posted by Deansy View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Cheers Mate !

    King skint ?? Don't think he's ever had the famous 'Warchest' but neither do I believe he's skint - just another line to yet another court as he knows it would take ages to determine his actual financial position !



    Still, he passed the 'Fit & Proper' test so we can just move on .........................
    Not skint, but morally bankrupt.
    ​#PERSEVERED


  12. #39521
    @hibs.net private member greenginger's Avatar
    Join Date
    Dec 2008
    Location
    LEITH NO MORE
    Posts
    5,270
    https://twitter.com/BBCAlLamont/stat...68728451551234

    The BBC don't seem to want to cover this story.

  13. #39522
    @hibs.net private member Keekaboo's Avatar
    Join Date
    Nov 2002
    Location
    Heading home...
    Posts
    17,922
    Quote Originally Posted by greenginger View Post
    This quote is hidden because you are ignoring this member. Show Quote
    https://twitter.com/BBCAlLamont/stat...68728451551234

    The BBC don't seem to want to cover this story.

    I expect they've been dictated to about what they can and cannot report from within Ibrox.

  14. #39523
    First Team Breakthrough lgnsh70's Avatar
    Join Date
    Aug 2017
    Posts
    277
    Quote Originally Posted by greenginger View Post
    This quote is hidden because you are ignoring this member. Show Quote
    https://twitter.com/BBCAlLamont/stat...68728451551234

    The BBC don't seem to want to cover this story.
    Lamont seems to have disappeared! What have Sevco-Level 5-Traynor mafia done with him? Hope he's not been harmed.


  15. #39524
    Quote Originally Posted by lgnsh_070362 View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Lamont seems to have disappeared! What have Sevco-Level 5-Traynor mafia done with him? Hope he's not been harmed.

    Been silenced by his boss and as a result is now considering his position

  16. #39525
    First Team Breakthrough lgnsh70's Avatar
    Join Date
    Aug 2017
    Posts
    277
    Quote Originally Posted by lapsedhibee View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Been silenced by his boss and as a result is now considering his position
    Kissing Traynor's ring appears to be his current position.

    GGTTH

  17. #39526
    @hibs.net private member CropleyWasGod's Avatar
    Join Date
    Apr 2002
    Posts
    19,423
    Today's events.

    https://stv.tv/amp/1399868-dave-king...rs-shares-bid/

    Sent from my SM-A510F using Tapatalk

  18. #39527
    Quote Originally Posted by CropleyWasGod View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Today's events.

    https://stv.tv/amp/1399868-dave-king...rs-shares-bid/

    Sent from my SM-A510F using Tapatalk
    What's your take the proceedings mate?

  19. #39528
    @hibs.net private member CropleyWasGod's Avatar
    Join Date
    Apr 2002
    Posts
    19,423
    Quote Originally Posted by HoboHarry View Post
    This quote is hidden because you are ignoring this member. Show Quote
    What's your take the proceedings mate?
    As with all reporting of Court events, it's difficult to know the context and nuance of what's been said.

    At face value, I don't see why the Court won't rule that the offer has to be made.

    If DK doesn't have the ready cash, it's within the power of the Court to sequestrate him. He'd therefore have to sell some of his assets to pay for the shares.

    Sent from my SM-A510F using Tapatalk

  20. #39529
    Quote Originally Posted by CropleyWasGod View Post
    This quote is hidden because you are ignoring this member. Show Quote
    As with all reporting of Court events, it's difficult to know the context and nuance of what's been said.

    At face value, I don't see why the Court won't rule that the offer has to be made.

    If DK doesn't have the ready cash, it's within the power of the Court to sequestrate him. He'd therefore have to sell some of his assets to pay for the shares.

    Sent from my SM-A510F using Tapatalk
    Pretty much my take on it too. If they find in favor of King they may as well dismantle the take over panel. That said, I would like to know what assets he has in Scotland......

  21. #39530
    Out of interest - where is Ozyhibby in all of this? Not like him to be quiet on matters Sevco.....

  22. #39531
    Coaching Staff Smartie's Avatar
    Join Date
    Aug 2002
    Age
    39
    Posts
    5,399
    Quote Originally Posted by HoboHarry View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Out of interest - where is Ozyhibby in all of this? Not like him to be quiet on matters Sevco.....
    I'm pretty sure he spontaneously combusted the day we released the "moving on" statement.

  23. #39532
    Quote Originally Posted by Smartie View Post
    This quote is hidden because you are ignoring this member. Show Quote
    I'm pretty sure he spontaneously combusted the day we released the "moving on" statement.
    So both Stokesy and Ozy are on fire?


  24. #39533
    First Team Breakthrough lgnsh70's Avatar
    Join Date
    Aug 2017
    Posts
    277
    Quote Originally Posted by HoboHarry View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Pretty much my take on it too. If they find in favor of King they may as well dismantle the take over panel. That said, I would like to know what assets he has in Scotland......
    Perhaps he owns a blindfold and a pair of brogues allied with tailored slacks specially for rolling up his trouser legs, among other things?



    Aside from the above attempts at jest. I think the COS ruling will be to comply with the Takeover Panel's order to make good the share offer. I can't see any other outcome.

    GGTTH
    Last edited by lgnsh70; 13-10-2017 at 06:39 PM.

  25. #39534
    @hibs.net private member CropleyWasGod's Avatar
    Join Date
    Apr 2002
    Posts
    19,423
    Quote Originally Posted by HoboHarry View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Pretty much my take on it too. If they find in favor of King they may as well dismantle the take over panel. That said, I would like to know what assets he has in Scotland......
    The TP are UK based.

    In any event, I'm pretty sure that a Trustee who was appointed to sequestrate him would have the power to gather in foreign assets.

    There's also the complication of him owning shares in RFC.....what would happen to them?

    Sent from my SM-A510F using Tapatalk

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
hibs.net ©2012 All Rights Reserved