Generic Sevco / Rangers meltdown thread

[Is It On....]

More related Sevco "housekeeping" as it's being reported that GSL has just resigned from the board of his own company in SA. "The new Board structure provides the increasingly higher level of governance demanded by investors". Wonder how his consideration of the take-over panel decision in the UK is going and whether he will deem it necessary to improve the governance levels at RIFC 🤔

[HoboHarry]

Sincerely hope this is true from Phil Mac

http://philmacgiollabhain.ie/2017/04...xic-take-over/

[Ozyhibby]

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Sincerely hope this is true from Phil Mac

http://philmacgiollabhain.ie/2017/04...xic-take-over/

9 days until the offer must be made.
This week could be very interesting.


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[HoboHarry]

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9 days until the offer must be made.
This week could be very interesting.


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I don't understand what King's problem is. He still has 15M left in the war chest to pay for it right?

Haw haw haw.......

[Is It On....]

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Sincerely hope this is true from Phil Mac

http://philmacgiollabhain.ie/2017/04...xic-take-over/

Given the sums involved it shouldn't really be that difficult to raise the money. The problem probably comes from the security being offered (or not) for the bridging loan facility. Mike Ashley had the car park / offices as security for his loans and I would have thought first charge on these now rests with the Three Bears / GSL after they repaid MA with private loans. I don't doubt (unlike some) that GSL has money in SA but it's incredibly difficult to get money out of the country at present and Jacob Zuma's latest stunts (which including sacking his finance minister) will not have made this any easier. It all adds up to an interesting few days ahead and it wouldn't surprise me if he ended up going cap in hand to Mr Ashley to solve the problem.

[CropleyWasGod]

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Given the sums involved it shouldn't really be that difficult to raise the money. The problem probably comes from the security being offered (or not) for the bridging loan facility. Mike Ashley had the car park / offices as security for his loans and I would have thought first charge on these now rests with the Three Bears / GSL after they repaid MA with private loans. I don't doubt (unlike some) that GSL has money in SA but it's incredibly difficult to get money out of the country at present and Jacob Zuma's latest stunts (which including sacking his finance minister) will not have made this any easier. It all adds up to an interesting few days ahead and it wouldn't surprise me if he ended up going cap in hand to Mr Ashley to solve the problem.

King can't use any of RFC's assets for finance, if that's what you mean.

[Ozyhibby]

https://daviesleftpeg.wordpress.com/...nce=be2e85abac


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[greenginger]

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King can't use any of RFC's assets for finance, if that's what you mean.

I doubt his South African assets will be much use either.


https://www.bloomberg.com/news/artic...-to-junk-chart

[jgl07]

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I doubt his South African assets will be much use either.


https://www.bloomberg.com/news/artic...-to-junk-chart

It matters little what King has in South Africa because the exchange rate is so bad. In 1968 it was 2 rand to the £ Sterling. Now it is something like 23 Rand to the £.

In any event, it is next to impossible to get large sums of money out of South Africa.

Not that King has any intention of putting his own cash on the line.

Like David Murray before him he will attempt to persuade others to 'invest' and keep hold of his own cash.

[CropleyWasGod]

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It matters little what King has in South Africa because the exchange rate is so bad. In 1968 it was 2 rand to the £ Sterling. Now it is something like 23 Rand to the £.

In any event, it is next to impossible to get large sums of money out of South Africa.

Not that King has any intention of putting his own cash on the line.

Like David Murray before him he will attempt to persuade others to 'invest' and keep hold of his own cash.

That's not his immediate problem, though.

He has to make an offer to the other shareholders within the next week or so.... with his own cash.

[Ozyhibby]

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It matters little what King has in South Africa because the exchange rate is so bad. In 1968 it was 2 rand to the £ Sterling. Now it is something like 23 Rand to the £.

In any event, it is next to impossible to get large sums of money out of South Africa.

Not that King has any intention of putting his own cash on the line.

Like David Murray before him he will attempt to persuade others to 'invest' and keep hold of his own cash.

Part of King's settlement with SARS to avoid 82 years in jail was that he repatriate all his assets to SA.


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[grunt]

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King can't use any of RFC's assets for finance, if that's what you mean.

Isn't that what Whyte got into trouble for?

[Bostonhibby]

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Part of King's settlement with SARS to avoid 82 years in jail was that he repatriate all his assets to SA.


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Wow, I was just about to put this years Cash ISA allowance in my Banks miserable fund as usual but now I've seen this it sounds like this is the guy for me - what funds is he associated with?

[CropleyWasGod]

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Isn't that what Whyte got into trouble for?

Nah, he got screwed cos he bet the ST money on the Gers against Malmo.

Or something like that.

[Is It On....]

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King can't use any of RFC's assets for finance, if that's what you mean.

Indeed (and sorry for the confusion). He has to find the money from his own pocket as the prev loans were for RIFC purposes to repay Mile Ashley.

[CropleyWasGod]

JJ's latest piece.

He has nailed a few of his colours to the mast with this one, both politically and morally. I stopped reading at the homophobic *****, but if anyone has read the full thing, does he say anything sensible?

https://johnjamessite.com/2017/04/06...h-for-rangers/

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[AndyM_1875]

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JJ's latest piece.

He has nailed a few of his colours to the mast with this one, both politically and morally. I stopped reading at the homophobic *****, but if anyone has read the full thing, does he say anything sensible?

https://johnjamessite.com/2017/04/06...h-for-rangers/

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I read that though and its the ranting of a raving bigot. This guy is disgusting.

[Ozyhibby]

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I read that though and its the ranting of a raving bigot. This guy is disgusting.

Stopped reading him a while back. Loser.


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[CropleyWasGod]

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Stopped reading him a while back. Loser.


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He's getting slated on Twitter for it.

It's symptomatic of bloggers that they seem to have this need to go further than what they're "good" at. By all means, he should tell us what he knows, but (and I've said this before) when he branches out into areas he knows ****-all about, he loses any credibility. And this latest ***** has just blown him out of the water for me.

[Stonewall]

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He's getting slated on Twitter for it.

It's symptomatic of bloggers that they seem to have this need to go further than what they're "good" at. By all means, he should tell us what he knows, but (and I've said this before) when he branches out into areas he knows ****-all about, he loses any credibility. And this latest ***** has just blown him out of the water for me.

I couldn't agree with you more CWG. JJ certainly seems to be a very strange character: thin skinned, self righteous, angry, insecure, paranoid, homophobic, in need of an editor and prone to gilding the Lilly.

Will keep reading his Rangers based stuff but I question it all, which is probably a healthy thing.

[O'Rourke3]

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I couldn't agree with you more CWG. JJ certainly seems to be a very strange character: thin skinned, self righteous, angry, insecure, paranoid, homophobic, in need of an editor and prone to gilding the Lilly.

Will keep reading his Rangers based stuff but I question it all, which is probably a healthy thing.

And folk questioned his credentials as a Rangers supporter....

[HoboHarry]

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JJ's latest piece.

He has nailed a few of his colours to the mast with this one, both politically and morally. I stopped reading at the homophobic *****, but if anyone has read the full thing, does he say anything sensible?

https://johnjamessite.com/2017/04/06...h-for-rangers/

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Which parts are you taking issue with CWG? For the most part he is simply repeating what other people have stated? Unless I am ending up at the wrong article....

[CropleyWasGod]

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Which parts are you taking issue with CWG? For the most part he is simply repeating what other people have stated? Unless I am ending up at the wrong article....

He's changed it.

There were a few paragraphs which laid bare his own political leanings, which is fair enough. He then went on to talk about the sexuality of some of our political leaders, in disparaging and offensive terms.

A few people on his site seem to have pulled him up on it, and that's probably made him remove the offending parts. That, and perhaps the threat of legal action.

Still doesn't excuse him, though.

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[HoboHarry]

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He's changed it.

There were a few paragraphs which laid bare his own political leanings, which is fair enough. He then went on to talk about the sexuality of some of our political leaders, in disparaging and offensive terms.

A few people on his site seem to have pulled him up on it, and that's probably made him remove the offending parts. That, and perhaps the threat of legal action.

Still doesn't excuse him, though.

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Ok fair enough. I was surprised by your post as you rarely use that type of vocabulary.

[CropleyWasGod]

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Ok fair enough. I was surprised by your post as you rarely use that type of vocabulary.

You should read the first drafts of some of my posts 😂

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[Is It On....]

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Ok fair enough. I was surprised by your post as you rarely use that type of vocabulary.

Take issue with CWG? As a (relatively) new boy on here, I know better and have been (politely) corrected / been encouraged to clarify "once or twice" 😉

[HoboHarry]

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Take issue with CWG? As a (relatively) new boy on here, I know better and have been (politely) corrected / been encouraged to clarify "once or twice" 😉

Ah don't be fooled by CWG's fierce demeanor. He's just a big teddy bear 😀

[Is It On....]

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Ah don't be fooled by CWG's fierce demeanor. He's just a big teddy bear 😀

I have had easier investment pitches at work 🙄. And I am not sure about calling him a big "teddy bear" 🤔

[MrSmith]

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Ah don't be fooled by CWG's fierce demeanor. He's just a big teddy bear 😀

And for all this time, I thought CWG was a lady :O

[CropleyWasGod]

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I have had easier investment pitches at work 🙄. And I am not sure about calling him a big "teddy bear" 🤔

I'll have you know I'm a ****ing pussy cat. And don't you ****ing forget it

😆😆😆

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