13 Jan 2015 02:08:16
Mornin Bears,

After King and the 3 Bears bought their shares we all thought "This is it" and felt that the long long wait for our redemption was over, it isn't.

We now have a splintered shareholding of MAJOR investors who cannot/will not agree on anything as it will be seen as capitulation to the other party (s) and a weakening of postion, Ashely will not budge when their is a dollar to be made, face facts, the guy did not become a Billionaire by being gregorious and forthcoming in his business deals, it's using the letter of the law to defeat the spirit of the law in all cases, this is a fight to the death!

My question to the more financially minded of my cohorts is:

What will it take for him to walk?

He won't give up his shares for 20p which is more than he paid, what about 25p? 30p? more?

We don't know!

What we do know is he has hijacked the board, has the Easdale brothers in his pocket (love to know the incentives) and will use them to block any offer that does not meet his requirements of capital investment versus return, he also will not want anyone undermining the legitimacy of the retail contract and it's stranglehold over future finance streams - their his, end of story!

After 3 years of questions and a host of people in a position to answer we still do not know the fundamentals:

Who owns the rights to all our assets?

So we move to Mr King and the 3 Bears, what will they do? What CAN they do realistically when they have not publically garnered the support of the other investors to oust the board and stabilise the company by a majority shareholding or a group vote? As they can't get board votes due to the Easdales proxy shareblock and Ashleys men on the board already it's tied up in favour of board influence versus majority shareholding.

Is your head swimming yet? Mine is!

The simple answer is that when I win the Lottery this week I will make a ridiculous offer to buy these people out, ironclad the contracts and give Rangers back to my people to purchase through a season book come first "Buy the club" scheme.

That way our most loyal can have first offer on shares, no more dilution and also have first voting rights on elections for senior figures at the club as well as representation by our fanbae but I would insist on one group as all this division is ruining our chances of having a voice when we have neede it most, seems to have gone alright for Barca and let's look lower, Dortmund, a team worth their salt against anyone and totally fan based with an academy that produces talent by the bucket through great coaches and patience.

If it was my investment I would want to move forward and acheive something, use the fans, use the media, use the courts if you have to and to the Rangers men who are in it now:

We've done all we can, it's your move!


1.) 13 Jan 2015
Charli3, I have to agree.
Easedale and his proxies seem to control everything, but we've no idea what he wants out of it. The club needs money, that is not in doubt, or it will fold again. There is nothing left for them to take (in monetary terms) that cannot be gained by selling the shares. What is the end-game for these guys??

I also agree with lee below and really do believe the Sarver bid was genuine and that he would have been great for us. I don't know if any fans out there (RST/UOF, etc) have any contact with King/3 Bears (or ever Sarver) but can we not get these three round the table (is that not what Sarver wanted) and some up with some strategy.

How can they knock back a takeover bid, in the best interests of the shareholders when there is no immediate prospect of a cash injection?

As usual, more questions than answers.


2.) 13 Jan 2015
Charlie – All of the above is exactly why the Sarver bid was by far the best option for the future of Rangers. He was able and willing to take full control of the club
You ask what King and 3B, s will do, That’s anybody’s guess,
After all this time they buy shares but don’t take it the final mile to take them into a majority
Makes me wonder if they really want control, remember the original king consortium offer was for only 28% through the issue of new shares, why only 28%?
Probably because they stayed under the 30% number that kicks in the requirement to offer to buy out the other shareholders
What can they do is a different question
They can declare a concert party and make the offer to buy all other shareholder out, they only need a small percentage to sell and they will have over 50%, maybe they don’t want total control for some reason as that would mean they would have responsibility to elect the board to run the company
They can call an EGM to remove the board and elect new board members, they only need 40% of all shareholders to vote in favour of their resolutions, they already hold 34% with fan groups and others like Prior it should be odds on,
Aagain maybe they don’t want to be responsible for the board, much easier to stay as it is and blame Ashley Easdale and co
Seen some rumors that they will strike a deal to get one or two places on the board, maybe that will suit them, as again they will not be totally responsible
Lots of maybes above but they haven’t really told us what they are planning so we need to guess
JG


3.) 13 Jan 2015
With ashley it boils down to his ego. he would see rangers destroyed before he lost to any incoming movement. I also agree the easdales are getting incentives of some sorts. I think it comes down to king paying over the odds to buy out other investors. as they have the swinging shares, which could swing this battle, a price worth paying. definetly.


4.) 13 Jan 2015
13 Jan 2015 10:43:42
What I would like to know is what proxies exactly do the Easdales hold now? Laxey was their biggest proxy vote block and those shares were bought by the Three Bears recently. Who is left?

I feel that there will be movement this week on things. An EGM will be called by start of next week (only my opinion). At the moment positioning and choosing of sides will be taking place. Realistically what investor is going to think that the current board are doing a great job and acting in the best interest of even them. What dividend if any would have been paid. Rangers has not been profitable for a long long time now.


5.) 13 Jan 2015
Charli3, Good post, but from day one I have thought that the ownership of Ibrox is the key to this shambles.
If, as the accounts state, Rangers own Ibrox lock, stock and barrel, why is it that it has not been used for a secured loan? Companies do this all the time when needing cash to trade and this is our current problem.
I still feel that something stinks about the murray/whyte sale and the subsequent release of the security on Ibrox.


6.) 13 Jan 2015
Charli3
Great post, however feel Ashley has been behind whole episode from the start- Duffy & phelps! Still can't work out the end game for him, unless he can sweet talk the SFA. However the 3 bears and king have positioned themselves to make this meeting a waste of time.
Fridays game should be 100% boycott, live on TV and would make a huge statement.
It's the only way to drive them out. Can't understand the " I support the team through it all brigade" don't you see you are dragging this out.
Need a mass demo prior to kick off then find a pub to watch it in. Or a mass walk out at halftime. Need to do something. Said it before on this forum - the manky mob would have chased them by now.


7.) 14 Jan 2015
Gers09. Total boycott, if the support walk out at half time, they are defeating the purpose, as they will need to pay in, with exception of book holders.