Rangers Rumours Archive March 30 2011

 

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30 Mar 2011 16:11:38
Reported on BBC and STV websites that Lloyds have agreed terms with Craig Whyte which clears any obstacles for the proposed takeover. Whyte must now make a bid for Murray's shares and if accepted, the deal is all but done. Purchase price will drop by £4 million or more due to Rangers' debt to Lloyds having decreased. Great news at last for WATP!

Believable31 Unbelievable13

30 Mar 2011 11:35:47
EGM vote at Worthington Group PLC at 3.30pm today to change the structure of the company and allow share issues and a lot more freedom for the company to issue shares and new direction.

Craig Whyte owns 8% of this company and his collegues were voted onto the board in the last 6 months and hold the vast majority. Buying of stakes in this company started in Feb 10' when Andrew Ellis first expressed interest in Rangers.

He will use this as a reverse vehicle for Rangers FC being listed on the LSE or funding to help purchase Rangers. Other funding will come from Merchant Corporate PLC, Merchant Turnaround PLC and Merchant Strategic PLC that have around £5million in funds to invest in turnaround situations.

Awaiting a positive vote at Worthington could be the real reason for the hold up here, if the resolutions are passed expect movements in the next few days.

Believable18 Unbelievable11

30 Mar 2011 11:54:50
Lloyds tell both parties involved in the takeover that they are happy for the deal to go through. so would seem the deal is a huge step closer!
source sky sports news

jmac

Believable23 Unbelievable9

30 Mar 2011 12:05:28
LLoyds banking group gives Craig Whyte the approval to proceed with takeover. source Sky sports news. great to be a bear

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