Rangers share offer to fans

[ballengeich]

https://www.bbc.co.uk/sport/football/55151773

Get your Rangers shares here - five forra pund.

The former chairman's claim that the shares are currently worth more than 50p if properly valued is worthy of President Trump. They're not on a market because of King's involvement with the club, and no institution interested in dividends or share price growth will go near them. 5p a share would be an over-estimate of a genuine market value.

This also means that for the next year any money the fans contribute goes into King's wallet rather than the club. They still worship him though.

[Smartie]

Am I right in thinking that this introduces no new capital, it only buys out Dave King?

[oldbutdim]

Am I right in thinking that this introduces no new capital, it only buys out Dave King?

You are.

[Bostonhibby]

Could well be Dodgy Dave looking to claw something back?

Can't see there's any real investment value or market here in what should be junk or penny shares but if they do it right sevconians might fancy a bit of paper in the company that replaced the now defunct Glasgow rangers.



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[ballengeich]

Am I right in thinking that this introduces no new capital, it only buys out Dave King?
Aye. The club won't see a penny of the money paid by fans for King's shares. In addition Club1690 could have used the money to take part in any new share issues which would have put money into the business.

[WhileTheChief..]

Don’t see anything wrong with this.

He’s selling a chunk of the club to a fans group at cost price and giving them 3 years to come up with the money. Seems pretty decent and means the fans will own over 20% of their club.

They’ll be more fan owned than Hearts, that’s gotta hurt over Gorgie way !

[Keith_M]

Am I right in thinking that this introduces no new capital, it only buys out Dave King?


Yep, the only incentive for them is to get to the magical 20% +1 shareholding.

They probably were already very close to that level but the many, many, many Loans to Shares conversions means that King now has them by the short and curlies and they'll have to pay whatever he asks.

[Keith_M]

'King announced at the club's AGM back in November that he would stepping down from the helm of the Light Blues board after five years in charge.

That has sparked speculation that the South Africa-based businessman is preparing to dispose of the 25.58 per cent stake held by his family firm, New Oasis Asset Limited.

But the Castlemilk-born tycoon told the PA news agency: "I am not selling any shares".

"As I said at the AGM, we will raise new funds."

"No existing shareholders are selling." '



From The Sun (https://www.thescottishsun.co.uk/sport/football/5395270/rangers-fc-shares-dave-king-investor/) - 17 Mar 2020

[ancient hibee]

Don’t see anything wrong with this.

He’s selling a chunk of the club to a fans group at cost price and giving them 3 years to come up with the money. Seems pretty decent and means the fans will own over 20% of their club.

They’ll be more fan owned than Hearts, that’s gotta hurt over Georgie way !

They won't for long because there are outstanding loans as long as your arm waiting to be transferred into share holdings which will dilute the fans percentage.

[Alan62]

Christopher Jack’s piece in the Herald today is worth a read. Unbelievably biased. https://www.heraldscotland.com/sport/18915576.dave-king-saved-rangers---now-ibrox-fans-must-protect-club-1872-share-deal/?ref=ebls


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[Keith_M]

Christopher Jack’s piece in the Herald today is worth a read. Unbelievably biased. https://www.heraldscotland.com/sport/18915576.dave-king-saved-rangers---now-ibrox-fans-must-protect-club-1872-share-deal/?ref=ebls




His Herald profile gives his title as - Senior Rangers Writer

I think that tells you all you need to know.

[Alan62]

His Herald profile gives his title as - Senior Rangers Writer

I think that tells you all you need to know.

Yes, that's actually incredible. Shows you how far The Herald has stooped as a credible source of objective journalism. Truly embarrassing.

[Stonewall]

His Herald profile gives his title as - Senior Rangers Writer

I think that tells you all you need to know.

known as Chris ‘Union’ Jack.