Generic Sevco / Rangers meltdown thread

[Jack Hackett]

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Well that's a real disappointment. Really hoped Sevco were going to get rodgered......

Might well be that Ashley's just playing them like fish. They should have money from the group stages of the EL for him to milk by January.

[Ronniekirk]

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Means they are skint, need to raise money

And they won’t have any problem raising it ,which is why ,with them now getting into group stages of European competition , potentially Cup Final and pushing Celtic in the League , any thought of them going into Administration is just that It’s not going to happen now imo
But agree they have spend ,overspent borrowed soft loaned etc and still no Trophy to show
Best we can hope for is they win nothing this Season again



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[CloudSquall]

https://twitter.com/WingsScotland/st...99675834339328

Just your average "staunch" wedding do setting a lovely example for the kids in attendance.

Warning: Cringe level 10

[bringbackbenny]

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https://twitter.com/WingsScotland/st...99675834339328

Just your average "staunch" wedding do setting a lovely example for the kids in attendance.



Warning: Cringe level 10

No my cringe level goes to 11 :)

On a more serious note some of the guests aren't participating and look decidedly uncomfortable.

[The 90+2]

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No my cringe level goes to 11 :)

On a more serious note some of the guests aren't participating and look decidedly uncomfortable.

Imagine taking your children to a wedding like that 😂😂😂

[Skol]

That is unbelievable. You have to assume that someone there was of the other type. And with the kids there.

Just loveable rogues really

[Ozyhibby]

https://www.fca.org.uk/publications/...unningham-king
Dave King cold shouldered. No idea what effect this will have.

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[grunt]

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https://www.fca.org.uk/publications/...unningham-king
Dave King cold shouldered. No idea what effect this will have.

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Here's the FCA article and the Takeover Panel statement http://www.thetakeoverpanel.org.uk/w...nt-2019.16.pdf

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'Cold-shouldering' effectively means that no FCA-regulated entity can act for this individual on any transaction subject to The City Code on Takeovers and Mergers (the Code).

On 16 September 2019, the Takeover Panel Hearings Committee (the Committee) considered disciplinary proceedings brought by the Executive of the Takeover Panel (the Executive) regarding a breach by Mr King of the obligation to announce a mandatory offer under Rule 9 of the Code and other related contraventions of the Code.

The Committee declared, in accordance with section 11(b)(v) of the Introduction to the Takeover Code, that Mr King is a person who in its opinion is not likely to comply with the Code and should be cold-shouldered. This sanction and subsequent ‘cold-shouldering’ will apply for 4 years from the date of the ruling (2 October 2019).

Following this ruling, we draw your attention to the provisions of MAR 4.3 (Support of the Takeover Panel’s functions), which relate to ‘cold–shouldering’. In particular, MAR 4.3.1R states that a firm must not act, or continue to act, for any person in connection with a transaction to which the Code applies if the firm has reasonable grounds for believing that the person in question, or his principal, is not complying or is not likely to comply with the Code. Under MAR4.3.2G, if a person is named in a ruling of the Committee, we expect a firm to comply with MAR4.3.1R by not acting or continuing to act for that person. See MAR 4.3 for further information.

We remind all regulated firms that they should not deal with the individual mentioned above, or his principals, on any transactions to which the Takeover Code applies. We also expect regulated firms to inform all approved persons at their firms that they should not deal with this individual on such transactions.

Regulated firms need to be aware that we take all regulatory breaches very seriously and a breach of MAR 4.3 may leave a firm and any individuals involved open to enforcement action.

[Ozyhibby]

https://rangers.co.uk/news/headlines...y-dave-king-2/


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[grunt]

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… the Takeover Panel statement http://www.thetakeoverpanel.org.uk/w...nt-2019.16.pdf

This contains some interesting comments:

78. The Committee’s conclusion from this pattern of conduct is that Mr King complies with the Code only when enforcement by the courts leaves him with no other choice, an impression which, in respects explained above, was strengthened by his conduct during the contempt proceedings.

80. The Committee is, therefore, of the opinion that the pattern of conduct summarised above shows in its opinion that Mr King is someone who is unlikely to comply with the Code.

81. We would also add that Mr King’s prolonged refusal to procure a Rule 9 offer, along with his conduct in dealing with the Executive during its initial investigation into a possible concert party, were offences of the utmost seriousness for which a statement of public censure would not be a sufficient sanction.

86. … In short, the contravention of Rule 9 was an offence of the utmost gravity in which Mr King persisted until he was constrained by court order to comply.

[HoboHarry]

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https://rangers.co.uk/news/headlines...y-dave-king-2/


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Realistically speaking, where does that leave Rangers/Sevco in terms of having King as it's chairman?

[Deansy]

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https://twitter.com/WingsScotland/st...99675834339328

Just your average "staunch" wedding do setting a lovely example for the kids in attendance.

Warning: Cringe level 10

A wedding with wall-to-wall 'Senga's & Shuggie's' - the soul trembles !. Uuuuugh!

[HoboHarry]

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A wedding with wall-to-wall 'Senga's & Shuggie's' - the soul trembles !. Uuuuugh!

Gawd almighty, that's horrendous.

[Bostonhibby]

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Realistically speaking, where does that leave Rangers/Sevco in terms of having King as it's chairman?

He was a multiple convicted tax fraudster before he met the SFA fit and proper person test, and he still is now, was cold shouldered early on as well, so I guess he's still good to go for the Scottish authorities.

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[Chorley Hibee]

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He was a multiple convicted tax fraudster before he met the SFA fit and proper person test, and he still is now, was cold shouldered early on as well, so I guess he's still good to go for the Scottish authorities.

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Realistically it means nothing.

Rangers will continue to overspend, and then stick two fingers up to the governing bodies, the law, and the rest of Scottish football, and none of the aforementioned will do anything about it.

Sadly I'm back at the stage where the games a bogey in Scotland.

[HoboHarry]

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He was a multiple convicted tax fraudster before he met the SFA fit and proper person test, and he still is now, was cold shouldered early on as well, so I guess he's still good to go for the Scottish authorities.

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You sure about that? The report states that he hadn't previously been in breach of the code unless I'm misunderstanding something....

[HoboHarry]

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Realistically it means nothing.

Rangers will continue to overspend, and then stick two fingers up to the governing bodies, the law, and the rest of Scottish football, and none of the aforementioned will do anything about it.

Sadly I'm back at the stage where the games a bogey in Scotland.

That's not the question I am asking - I understand all of that but can Rangers continue to have King as it's chairman or will they risk sanctions as well?

[Bostonhibby]

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You sure about that? The report states that he hadn't previously been in breach of the code unless I'm misunderstanding something....

Somewhere way back in this thread it was mentioned that he'd been, I'm sure. I took it to mean no one who was regulated could, or wanted to act for him for whatever sevco were up to at that time.

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[Ozyhibby]

Sevco have taken the statement down already.


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[HoboHarry]

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Sevco have taken the statement down already.


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If the one from King is down already then things aren't going well behind the scenes at Sevco.

[DaveSo]

Could their bank (Metro I think it is) be forced to withdraw their banking facilities ?
Lets hope so - back to brown paper payslips with cash for players and staff !

[Hibernia&Alba]

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https://twitter.com/WingsScotland/st...99675834339328

Just your average "staunch" wedding do setting a lovely example for the kids in attendance.

Warning: Cringe level 10

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No my cringe level goes to 11 :)

On a more serious note some of the guests aren't participating and look decidedly uncomfortable.

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Imagine taking your children to a wedding like that 😂😂😂

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That is unbelievable. You have to assume that someone there was of the other type. And with the kids there.

Just loveable rogues really

The worst thing is it isn't even a surprise or a shock. All of us have seen this in Scotland; all of us who were baptised as Roman Catholic have been subjected to it at some point; even told we shouldn't be here, as Scotland is a Protestant country. Tell people in England and they are stunned, but this garbage persists here. These idiots are a national embarrassment, even taking their filth into a wedding.

[HoboHarry]

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Could their bank (Metro I think it is) be forced to withdraw their banking facilities ?
Lets hope so - back to brown paper payslips with cash for players and staff !

Times like this I miss the input from CWG. If that was a possibility then Sevco would have to act to jettison King I would imagine but he won't walk away from whatever money he put into the club so it could get messy. Oh I do hope that's what happens ....

[Hibernia&Alba]

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Times like this I miss the input from CWG. If that was a possibility then Sevco would have to act to jettison King I would imagine but he won't walk away from whatever money he put into the club so it could get messy. Oh I do hope that's what happens ....

Much missed, I hope he returns. Why did he leave?

[greenginger]

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Could their bank (Metro I think it is) be forced to withdraw their banking facilities ?
Lets hope so - back to brown paper payslips with cash for players and staff !

Para 87 of the Take Over Panel statement says the cold shouldering will apply to King and not The Rangers .

[HoboHarry]

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Much missed, I hope he returns. Why did he leave?

I saw a post recently where someone on here claimed he was involved in some way in the Hibs takeover. No idea how much truth is in that, just what I read.....

[HoboHarry]

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Para 87 of the Take Over Panel statement says the cold shouldering will apply to King and not The Rangers .

Right but King is chairman of The Rangers/Sevco is he not? How does that impact things?

[Hibernia&Alba]

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I saw a post recently where someone on here claimed he was involved in some way in the Hibs takeover. No idea how much truth is in that, just what I read.....

Okay, but why would that make him leave? He was a top guy on here.

[HoboHarry]

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Okay, but why would that make him leave? He was a top guy on here.

No disagreement from me, I miss his posts a great deal - maybe as simple as taking up a huge amount of his time?

[Hibernia&Alba]

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No disagreement from me, I miss his posts a great deal - maybe as simple as taking up a huge amount of his time?

Possibly, yes. I hope he returns.