The Sun? Can you not copy & paste?
Thank youon you go
Yes, no, not sureIt wasn’t an EGM was it?
No. It would previously be called that but I believe the term is now just GM.It wasn’t an EGM was it?
Someone said before the term EGM isn't in use now, just referred to as GM. Still essentially the meeting was the same regardless so it's all semantics.
After this how much “debt” is there?
It’s 5 o’clock somewhere.It’s not even 10am but I’m pouring that glass of wine . Great result . Been waiting for it .
Yes bud, I think finally we are starting to get back to our rightful place. We have been through so much and had to put up with so many that should never have been anywhere near Ibrox, on and off the pitch.At least that’s one saga now over.
Delighted with this finally being resolved and the so called “debt” that never was “debt” issue finally being put to bed.
It really feels at last that we have proper bears at the helm again and us fans also having a huge and important stake in the club.
I am massively optimistic for the future again.
It’s 5 o’clock somewhere.
Yes bud, I think finally we are starting to get back to our rightful place. We have been through so much and had to put up with so many that should never have been anywhere near Ibrox, on and off the pitch.
If we can get the retail deal sorted it will be all
systems go.
DAVE KING and his Three Bears group have now got a controlling interest in Rangers after a successful bid to convert over £14m of club loans into shares.
At yesterday's general meeting, the Ibrox board asked shareholders to agree to a 'waiver' that would mean King would not have to make another megabucks shares offer.
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King and Co now have controlling stake at GersCredit: PAress Association
The proposal was given the go-ahead, with 81.9 per cent in favour of the resolution.
It sees just over £14.1m in loans converted to 70,601,941 shares at 20p each.
Light Blues chief King thanked shareholders for their continued backing of the club and the board.
King said: "This is an important marker in the recapitalisation of the company and significantly improves its balance sheet, enabling the conversion of over £14m of debt into shares."
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King's waiver was passed at yesterday's general meetingCredit: Keith Campbell - The Sun Glasgow
The result gives King's group the power to decide whether resolutions pass or fail, and block special resolutions at future general meetings.
This includes the election of directors and chief executive, approving executive pay and passing financial accounts.
£0 supposedly
At least that’s one saga now over.
Delighted with this finally being resolved and the so called “debt” that never was “debt” issue finally being put to bed.
It really feels at last that we have proper bears at the helm again and us fans also having a huge and important stake in the club.
I am massively optimistic for the future again.
So we're finally cleansed now? Aside from the retail?
It makes no difference what the business term is though. Does it?No. It would previously be called that but I believe the term is now just GM.
Can someone explain to me how this is good news? Thanks. Does it mean we're debt free after converting the soft loans into equity?
It wasn’t an EGM was it?
Can someone explain to me how this is good news? Thanks. Does it mean we're debt free after converting the soft loans into equity?