Welcome Guest [Log In] [Register]
Welcome to Kerrydale Street. We hope you enjoy your visit.

You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are some features you can't use.

If you decide to register, please be aware that we don't accept email addresses from free web accounts like gmail, Hotmail, live.co.uk etc. Sorry, but almost all of the abuse and spam that we get is from free web accounts. The software on the forum will automatically block any requests using a free email account.

Upon Registration, you will be given access to all our varied Forums, and you will be expected to comply with our fairly stringent Rules and Regulations. Meantime, enjoy your visit

If you're already a member please log in to your account to access all of our features:

Username:   Password:
Add Reply
The All New Sevco Back in Yer Bin Thread; Taking out the trash
Topic Started: 29 Apr 2018, 04:24 PM (2,086,627 Views)
Oscar Strummer
Member Avatar
The Artist Formerly Known As lubomir25
[ *  *  *  *  *  *  *  *  *  * ]
Gothamcelt
9 Jun 2018, 08:47 AM
“I won’t be surprised if he makes the England squad because he is that good. You don’t buy players for £3m unless they can play".
All because he "will be playing" for The rangers?

Connor Goldson has same qualities as John Stones and will be a star for Rangers
Rangers are on the brink of signing the Brighton defender and Mellon believes he will be a big player for the club.
Spoiler: click to toggle


This is all just crazy talk.


Online Profile Quote Post Goto Top
 
Chalmers
Member Avatar
Considering retirement
[ *  *  *  *  *  *  *  *  *  *  * ]
Sunny Jim Young
9 Jun 2018, 11:55 AM
jim62
9 Jun 2018, 11:41 AM
Sunny Jim Young
9 Jun 2018, 11:11 AM
Isn’t the whole point of a rights issue that you have a right to buy new shares in proportion to the shares that you already own? So in a rights issue your proportion of ownership can only be diluted if you choose not to exercise your right.

And if you choose not to exercise your right then you can sell it, provided the rights issue price is below the market value

The problem for RIFC is that there is no market in these shares. They maintain that the 20p per share that the GASL has been ordered to pay is below their true value. If this issue goes ahead we will find out. I doubt if anyone bar their delusional fans will be buying at anything like 20p per share
The share issue they are proposing is not a rights issue...I.e. every shareholder having the right to buy new shares in proportion to their current holding...their AGM approved the board being able to issue a certain number of new shares to anyone

To give one example... They could issue new shares to the directors as “ repayment” of their loans....would remove the debt but not add a penny to their capital
Thanks Jim, thought I had read somewhere it was a rights issue. On reflection it’s likely to be impossible to have a rights issue in their current position

Will be interesting to see the share price.
King referred ti itas a rights issue in a press interview last month, so you did read about it. But this isn’t a rights issue, so another lie by him.
Offline Profile Quote Post Goto Top
 
johnbhoy1958
Member Avatar
Knackered with a Capital F!!!!
[ *  *  *  *  *  *  * ]
15not25
9 Jun 2018, 12:30 PM
Ess
9 Jun 2018, 11:58 AM
So 1872 could end up throwing a million pounds in and end up with a lower percentage ?
This is my reading of it, although I’m usually wrong.

This vision of 25% shareholding can’t happem coz they will dilute their shareholding with every new share bought. The only way they can achieve 25% would be to buy existing shares from other shareholders. Which doesn’t put money into the clumpany, only into the pocket of the seller.

:lolhuns: (I think)
These things are usually quite simple if you want them to be.Club IQ72 only have to ask 1 question.
"Who are the other investors & how much are they investing".
If GLIB & the other directors are not on the list,walk away.Take no excuses.If they don't think it's worth the risk,neither should you.
Offline Profile Quote Post Goto Top
 
nakasboots
Member Avatar
Off treasure hunting in Holland
[ *  *  *  *  *  *  *  *  *  *  *  * ]
Don Vito
9 Jun 2018, 12:14 PM
A Rachel Riley and Carol Vorderman double act would be hard pushed to sort out sevco finances...

Behave....
Hard to behave with that thought stuck in my head. :ph43r:
Offline Profile Quote Post Goto Top
 
Ned Rise
Member Avatar
These boots were made for hunbustin'
[ *  *  *  *  *  *  *  *  *  *  *  * ]
Oscar Strummer
9 Jun 2018, 12:41 PM
Gothamcelt
9 Jun 2018, 08:47 AM
“I won’t be surprised if he makes the England squad because he is that good. You don’t buy players for £3m unless they can play".
All because he "will be playing" for The rangers?

Connor Goldson has same qualities as John Stones and will be a star for Rangers
Rangers are on the brink of signing the Brighton defender and Mellon believes he will be a big player for the club.
Spoiler: click to toggle


This is all just crazy talk.


When signing lemons, get Mellon aid.


(Mellon's career has passed me by I have to admit)
Offline Profile Quote Post Goto Top
 
DhenBhoy
Everyone's Fantasy Football first pick
[ *  *  *  *  *  *  * ]
johnbhoy1958
9 Jun 2018, 12:51 PM
15not25
9 Jun 2018, 12:30 PM
Ess
9 Jun 2018, 11:58 AM
So 1872 could end up throwing a million pounds in and end up with a lower percentage ?
This is my reading of it, although I’m usually wrong.

This vision of 25% shareholding can’t happem coz they will dilute their shareholding with every new share bought. The only way they can achieve 25% would be to buy existing shares from other shareholders. Which doesn’t put money into the clumpany, only into the pocket of the seller.

:lolhuns: (I think)
These things are usually quite simple if you want them to be.Club IQ72 only have to ask 1 question.
"Who are the other investors & how much are they investing".
If GLIB & the other directors are not on the list,walk away.Take no excuses.If they don't think it's worth the risk,neither should you.
GLIB and the concert party are prevented (iirc) from participating by the TOP.
Offline Profile Quote Post Goto Top
 
Bryce Curdy
First team training
[ *  *  * ]
Bryce Curdy
9 Jun 2018, 12:19 PM
Auldyin
8 Jun 2018, 01:25 AM
DICEMAN
6 Jun 2018, 07:04 PM

Quoting limited to 3 levels deephttps://johnjamessite.com/
What seems to have been missed is that compelling as the JJ narrative is, TRFC in their statement issued on same day they were charged claimed that non compliance charges relating to the end of March had been withdrawn and described them as groundless.

In the later Hughes statement they described the charges as ridiculous.

Quite how anything relating to the end of March can be withdrawn is questionable but if true an explanation needs to be provided.

Events at end March took place under SDM and from 6th May Craig Whyte.

If charges relating to end of March, the very time frame that caused an investigation after testimony in court have been withdrawn it looks like an attempt to protect SDM/A Johnson/Dave King and even Dickson although he remained after CW took over and make CW the Fall guy (again).

Its almost as if a deal has been done to avoid revealing how the justification for granting the licence differed from the true explanation and with it charges that the justifications at end of March ie "potential" and 'discussions happening' were fraudulent.

Pretty much my thoughts. It's LNS all over again - a pre-determined outcome with only how to get there to be worked out.
To expand further we all know that the license should not have been granted at the end of March 2011 but moving the issue to the monitoring period will first and foremost be about protecting SFA officials involved in the decision. I suspect we will then see Rangers found guilty of some minor misdemeanour (not understanding the regulations, administrative to give examples) and given a token punishment that Glib will then make a ridiculous statement about. I don't think even the SFA have the brass neck to claim Rangers fully followed procedure correctly but you never know.
Offline Profile Quote Post Goto Top
 
tomtom
First name on the team-sheet
[ *  *  *  *  *  * ]
DhenBhoy
9 Jun 2018, 01:17 PM
johnbhoy1958
9 Jun 2018, 12:51 PM
15not25
9 Jun 2018, 12:30 PM

Quoting limited to 3 levels deep
These things are usually quite simple if you want them to be.Club IQ72 only have to ask 1 question.
"Who are the other investors & how much are they investing".
If GLIB & the other directors are not on the list,walk away.Take no excuses.If they don't think it's worth the risk,neither should you.
GLIB and the concert party are prevented (iirc) from participating by the TOP.
So how do they convert their loans into shares? Serious question.
Offline Profile Quote Post Goto Top
 
johnbhoy1958
Member Avatar
Knackered with a Capital F!!!!
[ *  *  *  *  *  *  * ]
DhenBhoy
9 Jun 2018, 01:17 PM
johnbhoy1958
9 Jun 2018, 12:51 PM
15not25
9 Jun 2018, 12:30 PM

Quoting limited to 3 levels deep
These things are usually quite simple if you want them to be.Club IQ72 only have to ask 1 question.
"Who are the other investors & how much are they investing".
If GLIB & the other directors are not on the list,walk away.Take no excuses.If they don't think it's worth the risk,neither should you.
GLIB and the concert party are prevented (iirc) from participating by the TOP.
Of course they are.I should've remembered that.The basic point applies,though,Find out who else is investing,how much are they investing & what is RIFC going to use this money for.
If your gut instinct tells you not to invest,don't do it.
Offline Profile Quote Post Goto Top
 
remy mcswain
Member Avatar
Big in Canada
[ *  *  *  *  *  *  *  *  *  *  *  * ]
Torquemada
9 Jun 2018, 10:53 AM
I don't want to get all spiky golf shoes with this post -- reading the moronic Gub's offering in 2000 is still one of life's occasional guilty pleasures :lol: -- but you have to think King is finally all in. The appointment of a "name" without a minute's experience as manager, the cutting back of Celtic fans' allocation to make room for more season ticket sales up-front, the desperate plea to Club 2012 to raise a million to buy shares for an offering that might never happen, and now a parking season ticket of £240 are all acts of a drowning man clutching at straws.

Or, even more worrisome for the unwashed, the final flourish of a con man who has extracted all he is ever going to from the stupidest fanbase in football. :) The fact that nothing has been written about the resignations of Paul Murray and Cillit Bang man is astonishing even for the forelock tuggers of the SMSM. What do the directors know that the rest of us (bar Phil, I suppose ;) ) don't?

If they've sold 45,000 STs at, say, £500 a pop, that's £22.5m, with reduced match day walk-up revenue to come. They'll have to sell a lot of Humming tat and get through a couple of Europa rounds even to reach a turnover of £40m. With around £3.5m to repay to Close Brothers, Hector ensuring that taxes are paid on time, and some directors apparently asking for their loans to be repaid, StevieG better get off to a flyer before King has to! :lol:

£22.5m before the VAT deduction which stupid arse will now have to pay in the next quarter’s payment.
Online Profile Quote Post Goto Top
 
Darth Balls
Member Avatar
Occasional Substitute
[ *  *  *  * ]
DhenBhoy
9 Jun 2018, 01:17 PM
johnbhoy1958
9 Jun 2018, 12:51 PM
15not25
9 Jun 2018, 12:30 PM

Quoting limited to 3 levels deep
These things are usually quite simple if you want them to be.Club IQ72 only have to ask 1 question.
"Who are the other investors & how much are they investing".
If GLIB & the other directors are not on the list,walk away.Take no excuses.If they don't think it's worth the risk,neither should you.
GLIB and the concert party are prevented (iirc) from participating by the TOP.
so they are unable to convert their loans to equity then
Offline Profile Quote Post Goto Top
 
Jim Tim
Member Avatar
First name on the team-sheet
[ *  *  *  *  *  * ]
jim62
9 Jun 2018, 11:41 AM

To give one example... They could issue new shares to the directors as “ repayment” of their loans....would remove the debt but not add a penny to their capital
My question is why would a director willingly take shares rather than repayment? or an extension of the note? The business is fundamentally struggling and there is no long term prospect of it increasing in value, so surely better to either recoup the cash or maintain a position as a creditor rather than potentially lose it all if they go to the wall again?
Offline Profile Quote Post Goto Top
 
tomtom
First name on the team-sheet
[ *  *  *  *  *  * ]
Jim Tim
9 Jun 2018, 02:23 PM
jim62
9 Jun 2018, 11:41 AM

To give one example... They could issue new shares to the directors as “ repayment” of their loans....would remove the debt but not add a penny to their capital
My question is why would a director willingly take shares rather than repayment? or an extension of the note? The business is fundamentally struggling and there is no long term prospect of it increasing in value, so surely better to either recoup the cash or maintain a position as a creditor rather than potentially lose it all if they go to the wall again?
It gets the loans off the balance sheet so they appear more solvent than they actually are. Might also have a bearing on the FFP issue.
Offline Profile Quote Post Goto Top
 
Tenenbaum
Member Avatar
Anybody interested in grabbing a couple of burgers and hittin' the cemetery?
[ *  *  *  *  * ]
nakasboots
9 Jun 2018, 01:06 PM
Don Vito
9 Jun 2018, 12:14 PM
A Rachel Riley and Carol Vorderman double act would be hard pushed to sort out sevco finances...

Behave....
Hard to behave with that thought stuck in my head. :ph43r:
Better throw in Susie Dent... just in case any difficult words like 'concomitant' rear their ugly heads :ph43r:
Offline Profile Quote Post Goto Top
 
AmericanHistoryBhoy
Everyone's Fantasy Football first pick
[ *  *  *  *  *  *  * ]
Jim Tim
9 Jun 2018, 02:23 PM
jim62
9 Jun 2018, 11:41 AM

To give one example... They could issue new shares to the directors as “ repayment” of their loans....would remove the debt but not add a penny to their capital
My question is why would a director willingly take shares rather than repayment? or an extension of the note? The business is fundamentally struggling and there is no long term prospect of it increasing in value, so surely better to either recoup the cash or maintain a position as a creditor rather than potentially lose it all if they go to the wall again?
Because if a director demands repayment thsr forces sevco to enter administration then the money would simply go towards the regular installation of new windows.
Offline Profile Quote Post Goto Top
 
john67
Member Avatar
Everyone's Fantasy Football first pick
[ *  *  *  *  *  *  * ]
The non partisan BBC have a panel today of binbag Miller, monster munch Boyd and wee chick talking about all the good in Scottish football.
Offline Profile Quote Post Goto Top
 
weebaldy
Member Avatar
We Won the Big One-They Never Will!
[ *  *  *  *  *  *  * ]
john67
9 Jun 2018, 02:51 PM
The non partisan BBC have a panel today of binbag Miller, monster munch Boyd and wee chick talking about all the good in Scottish football.
I for one won't be listening after the last mauling I took re the impartiality of BBC :lol:
Edited by weebaldy, 9 Jun 2018, 03:04 PM.
Offline Profile Quote Post Goto Top
 
suzieghirl10
Member Avatar
Everyone's Fantasy Football first pick
[ *  *  *  *  *  *  * ]
Oscar Strummer
9 Jun 2018, 12:41 PM
Gothamcelt
9 Jun 2018, 08:47 AM
“I won’t be surprised if he makes the England squad because he is that good. You don’t buy players for £3m unless they can play".
All because he "will be playing" for The rangers?

Connor Goldson has same qualities as John Stones and will be a star for Rangers
Rangers are on the brink of signing the Brighton defender and Mellon believes he will be a big player for the club.
Spoiler: click to toggle


This is all just crazy talk.


Desperation at its best. I used to get annoyed at this type of this but now I laugh.
Offline Profile Quote Post Goto Top
 
Sunny Jim Young
Member Avatar
Turning the town red
[ *  *  *  *  *  *  *  *  *  *  * ]
Chalmers
9 Jun 2018, 12:47 PM
Sunny Jim Young
9 Jun 2018, 11:55 AM
jim62
9 Jun 2018, 11:41 AM

Quoting limited to 3 levels deep
Thanks Jim, thought I had read somewhere it was a rights issue. On reflection it’s likely to be impossible to have a rights issue in their current position

Will be interesting to see the share price.
King referred ti itas a rights issue in a press interview last month, so you did read about it. But this isn’t a rights issue, so another lie by him.
Serves me right for listening to a glib and shameless liar :lol:

An invitation only share issue by a board which is led by a convicted criminal who is flat out refusing to comply with a ruling from the Takeover Panel even when ordered to do so by the Court of Session.

They really are in a pitiful state :clap:
Offline Profile Quote Post Goto Top
 
Darth Balls
Member Avatar
Occasional Substitute
[ *  *  *  * ]
from twitter
"I have been told the shambolic org club1872 directors have agreed in principle to take a loan out to buy shares in our club and they did this 4 months ago and haven't had the decency to keep the members informed. Has anyone else heard this ?"

Offline Profile Quote Post Goto Top
 
62 users reading this topic (37 Guests and 0 Anonymous)
DealsFor.me - The best sales, coupons, and discounts for you
Go to Next Page
« Previous Topic · Celtic Football Club Discussion Forum · Next Topic »
Add Reply