Generic Sevco / Rangers meltdown thread

[Mister P]

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"The soul of Rangers" as if that's something worthwhile, precious even.

that was sold a LONG time ago lol.

[Bishop Hibee]

"although Rangers should have more than £20million in the account following December’s share sale, not even Murray has been given sight of the evidence."

Magic. Are they Jam Tarts in disguise

[ScottB]

Am I the only one that thinks it isn't that strange that Green, still the single largest shareholder, would seek to have someone he wants put into the job?

Suppose that wouldn't shift rags for the Daily Ranger though...

[MrSmith]

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No be many folk knowing what you are on about

Loved that show

Me too!

The man from Atlantis, I think??

[LeighLoyal]

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"although Rangers should have more than £20million in the account following December’s share sale, not even Murray has been given sight of the evidence."

Going by how the Sevco share price goes down 1-2p on the back of every circa £40k stock sale I doubt the £20m exists. As real as Sally's SFL2 £10m warchest.

[CentreLine]

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Where is The Rangers PR guru, Jim Traynor, these days? He is conspicuous by his absence and silence. You'ld have thought that the present state of the 'circus' would have offered a perfect sounding off platform for the great man.

Maybe JT has been involved in an elaborate form of investigative journalism and engineered himself a place at the heart of The Rangers in order to get the inside story while still really being employed by the DR. Naaaa can't see it myself

[NORTHERNHIBBY]

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No be many folk knowing what you are on about

Loved that show

He is bringing the much fabled e-mail from the Dallas Cowboys, that Green was havering about.

[Keith_M]

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He is bringing the much fabled e-mail from the Dallas Cowboys, that Green was havering about.

I think Green's been seriously mis-represented on this.


What he actually said was he'd be dealing with a bunch of cowboys.

[ancient hibee]

I see Donald Findlay is demanding dignity from Rangers.Perhaps he could get the Board together and have a sing song of some of the old favourites.

[Moulin Yarns]

Reporting Scotland about to tell us who Chucky is/has selling his shares to.

[Moulin Yarns]

So. The Rangers get a new coach!!!

Another colourful character gets involved with Newhuns

[s.a.m]

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Reporting Scotland about to tell us who Chucky is/has selling his shares to.

James Doleman‏@jamesdoleman4mDirector profile of James Easdale who BBC are reporting is to buy Charles Green's shares in RFC. http://company-director-check.co.uk/director/905250705

[Onion]

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Reporting Scotland about to tell us who Chucky is/has selling his shares to.

All being done with indecent haste. The fraud squad and creditor lawyers need to jump in now, freeze Chuckies shares otherwise it will become too complex to unravel. This whole thing has stunk worse than a Glesgae midden from the start, and Chuckie has a getaway car waiting round the corner.

[CropleyWasGod]

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All being done with indecent haste. The fraud squad and creditor lawyers need to jump in now, freeze Chuckies shares otherwise it will become too complex to unravel. This whole thing has stunk worse than a Glesgae midden from the start, and Chuckie has a getaway car waiting round the corner.

It's a PLC, so there is a decent paper trail.

[joe breezy]

http://www.bbc.co.uk/sport/0/football/22270973

Rangers: Charles Green to sell shares to James Easdales


By Chris McLaughlin
Senior Football Reporter, BBC Scotland

Former chief executive Charles Green has agreed to sell his shares in Rangers to Greenock bus tycoon James Easdale, BBC Scotland understands.
Easdale and his brother, Sandy, already own around 6% of Rangers, but they want more - and a presence on the board.

However, Sandy Easdale was jailed for VAT fraud in 1997, a matter thought to concern the Ibrox board.
The board met on Tuesday to discuss the possibility of the Easdales increasing their stake.

It is possible the family will look to buy even more shares in Rangers in an attempt to take some form of overall control of the Division Three champions.

The Easdale family owns McGill's Buses, a Greenock-based company that has become the largest independent bus operator in Scotland.
James Easdale is the chairman of the company that now operates more than 350 buses and around 55 routes and employs about 700 members of staff.

Englishman Green, who is Rangers' biggest single shareholder with 8% of the stock, resigned last week following allegations that he colluded with former owner Craig Whyte to buy the Ibrox club's assets.
Whyte, who the Scottish FA ruled was not a fit and proper person to own a football club, had claimed that Green was his frontman to buy the assets of the club the Scottish businessman took into administration last year.

Green denied those accusations, but it prompted Rangers' board to announce it would be launching its own independent investigation.
However, Green subsequently resigned, with the club saying he wished to avoid the publicity around his role impacting negatively on the club.
Nottinghamshire-based businessman Craig Mather is to be confirmed as the new chief executive once Green's departure from the role has been formalised.

[joe breezy]

[Onion]

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It's a PLC, so there is a decent paper trail.

The fact that it's a plc won't matter if the company assets were fraudulently acquired or deliberately undervalued by the Administrators to the detriment of (or in order to defraud) the creditors. It will all still have to be unravelled by the courts.

[DaveF]

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http://www.bbc.co.uk/sport/0/football/22270973

Rangers: Charles Green to sell shares to James Easdales


By Chris McLaughlin
Senior Football Reporter, BBC Scotland

Former chief executive Charles Green has agreed to sell his shares in Rangers to Greenock bus tycoon James Easdale, BBC Scotland understands.
Easdale and his brother, Sandy, already own around 6% of Rangers, but they want more - and a presence on the board.

However, Sandy Easdale was jailed for VAT fraud in 1997, a matter thought to concern the Ibrox board.
The board met on Tuesday to discuss the possibility of the Easdales increasing their stake.

It is possible the family will look to buy even more shares in Rangers in an attempt to take some form of overall control of the Division Three champions.

The Easdale family owns McGill's Buses, a Greenock-based company that has become the largest independent bus operator in Scotland.
James Easdale is the chairman of the company that now operates more than 350 buses and around 55 routes and employs about 700 members of staff.

Englishman Green, who is Rangers' biggest single shareholder with 8% of the stock, resigned last week following allegations that he colluded with former owner Craig Whyte to buy the Ibrox club's assets.
Whyte, who the Scottish FA ruled was not a fit and proper person to own a football club, had claimed that Green was his frontman to buy the assets of the club the Scottish businessman took into administration last year.

Green denied those accusations, but it prompted Rangers' board to announce it would be launching its own independent investigation.
However, Green subsequently resigned, with the club saying he wished to avoid the publicity around his role impacting negatively on the club.
Nottinghamshire-based businessman Craig Mather is to be confirmed as the new chief executive once Green's departure from the role has been formalised.

Aye, I'll bet the board are really concerned!

[CropleyWasGod]

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The fact that it's a plc won't matter if the company assets were fraudulently acquired or deliberately undervalued by the Administrators to the detriment of (or in order to defraud) the creditors. It will all still have to be unravelled by the courts.

I am talking from the perspective of proving anything. What is done is done, and the freezing of CG's shares would not affect that. It's what has gone before that is important.

[LeighLoyal]

Spiv in spiv out. What a shambles T'Sevco are

[hibee_nation]

Hun or nae hun i will still have to use Mcgills to get from Dunoon to Glasgow.

[blaikie]

This is fantastic!

Got family down in Greenock were this guy operates with his brother Sandy they are into everything and anything, so we've had porn stars conmen and now heavy gangsters!

Now where's my popcorn!

[LeighLoyal]

On Sevco Media it's rumoured Sandy "Fingers" Easdale is going to control 29% of Sevco issued capital. Hope it's true as will be another coffin nail! Rumour also that SFL3 teams are going to mount a complaint that Sevco were only licensed on the basis of no Whyte links. Patently not that case as we all know now. Sevco: the joke that keeps giving!

[Pat 0-7]

New Sevco board members??

[Seveno]

It has been announced that, to make it easier for Directors to attend Board meeting, the Boardroom has been moved from Ibrox to a more convenient location.

[Onion]

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Aye, I'll bet the board are really concerned!

"Experience in tax evasion" was top of his CV and a positive advantage for any applicant for CEO of Rangers.

[Keith_M]

Isn't there some kind of provision in the shares recently issued that specifies they can't be sold within a minimum period (possibly before December this year)?

If so, can Green actually sell his shares already?

[JeMeSouviens]

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Isn't there some kind of provision in the shares recently issued that specifies they can't be sold within a minimum period (possibly before December this year)?

If so, can Green actually sell his shares already?

No, he can't. Seemingly (according to BBC sportsound anyway) it's a pre-agreement to sell in December.

[bighairyfaeleith]

what if the club was taken off the stock market and de-listed?

I reckon they will be under the control of one name by the weekend

[LeighLoyal]

Green, Ahmad and T'Sevco International, take note:



Worthington Group Plc

24th April 2013

FOR IMMEDIATE RELEASE

Worthington Group Plc (the "Company") - Conditional Fee Agreement


Conditional Fee Agreement

The Company is pleased to announce that Law Financial Ltd ("Law Financial"), its 26% owned associate, has now entered into a Conditional Fee Agreement in relation to claims that Law Financial, through its subsidiary Sevco 5088 Ltd and separately, has to all of the business and assets of The Rangers Football Club ("Rangers") which were purchased from the Administrators of RFC 2012 Plc by Sevco 5088 Limited, or Sevco Scotland Ltd, in June of 2012.

The principle terms of the Conditional Fee Agreement are as follows:

Solicitors and Leading Counsel acting for Law Financial will share 7.5% of the recently issued and to be issued unsecured convertible loan stock and up to 18.5% of any successful claim in relation to the business and assets of Rangers.

The Company notes the announcement made on 22 April 2013 by Rangers International Football Club Plc ("RIFC") in which, contrary to other recent public announcements and statements by Mr Green and RIFC, RIFC now, five months after the publication of the Admission Document published for its flotation, claim to own Sevco 5088 Ltd.

We also note today's announcement by RIFC, and would like to confirm that solicitors, acting for the Company and Law Financial, are in a position to provide compelling evidence that Messrs Green and Ahmad received a letter before claim in December 2012, having received previous correspondence, and chose to ignore it.

In the light of recent public admissions by Mr Green, including his admission that he and Mr Ahmad deceived Mr Whyte, a fresh letter before claim is being prepared against, inter alios, The Rangers Football Club Ltd and Messrs Green and Ahmad. This letter will include additional or alternative causes of action to those already particularised in the December 2012 letter.

The shares in RIFC purportedly owned by Messrs Green and Ahmad will also be the subject of this claim.

During the course of the Company's due diligence process, relating to its purchase of a stake in Law Financial, information has been discovered relating to the conduct of Mr Charles Green and Mr Imran Ahmad, this has today been reported to the Serious Fraud Office.
Enquiries:

Douglas Ware, CEO Worthington Group Plc: [email protected]

Anne Alesbury, PD Cosec Limited,

Company Secretary, Worthington Group Plc on 0208 940 0963


This information is provided by RNS
The company news service from the London Stock Exchange