Dave kings share offer fails

Glad this issue is out of the way.

It actually got alot closer to the 50% than I was expecting.
Would the offer have been accepted if it wasn't for the extra shares issued last year or were they not included in this.
 
This was always going to be the outcome. Any rational thinking person who actually looked at the facts knew this would be the outcome.

For months we had the tim media obsessing over this, absolutely praying that it was going to cost King many millions and ultimately effect the club. It hasn't quite gone the way the Kerryfail financial experts and the poet media were hoping.
 
kidkoala1872 said:
So they paid £3,679,277 for their shares I find that hard to believe.
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They bought at the full price at the initial share issue. I think that was around 2m shares though happy to be corrected. Thereafter they substantially increased their shareholding at various prices. 100k shares in 2013 at a reported 44p and then over 1.25m shares in 2014 at the same 20p as Kings offer.

https://www.express.co.uk/sport/football/514873/Sandy-Easdale-share-Rangers-Ibrox

Followed by another 1m or so in early 2015 but no price quoted, you’d guess it would again be around the 20p-30p mark.

https://www.theguardian.com/football/2015/jan/20/rangers-sandy-easdale-buys-1m-shares

I think they ended up with about 6.5m shares between them.
 
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Taking a step back do we know who pays for what we all knew was a waste of time by the take over panel?

The tax payer like you and I?

If so questions need to be asked?
 
The takeover panel were just as corrupt as the legal system here. They knew it would fail yet played the game to drain us of resources.
 
Valley Bluenose said:
They bought at the full price at the initial share issue. I think that was around 2m shares though happy to be corrected. Thereafter they substantially increased their shareholding at various prices. 100k shares in 2013 at a reported 44p and then over 1.25m shares in 2014 at the same 20p as Kings offer.

https://www.express.co.uk/sport/football/514873/Sandy-Easdale-share-Rangers-Ibrox

Followed by another 1m or so in early 2015 but no price quoted, you’d guess it would again be around the 20p-30p mark.

https://www.theguardian.com/football/2015/jan/20/rangers-sandy-easdale-buys-1m-shares

I think they ended up with about 6.5m shares between them.
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Am I right in thinking that a shareholding of this size automatically bars them from becoming involved in another club (ie Morton)? That’s probably as good a reason as any for leaving them with the shares and diluting their influence over time.
 
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FAILED TAKEOVER
Rangers chairman Dave King’s £8million club shares offer FAILS after knock-back from Ally McCoist and fan group Club 1872

The Ibrox chief finally lodged an offer to buy the shares last month, but he did not clinch the 50 per cent minimum stake by today's deadline.....

It’s amazing that this failure, is in fact a monumental success and was always going to be the outcome. I genuinely didn’t think it possible to warp this story into yet another negative story relating to The Famous. Anyone outwith the West of Scotland goldfish bowl would read this and automatically think the Gers supporter have somehow rallied against the Chairman when that is far from the truth. ‘Riddle me this, riddle me that’ the strangle hold on the MSM is without doubt riddled with an anti Rangers agenda.
 
John McMahon said:
If they paid 70p a share then we shouldn't be too harsh on them ( I was surprised they paid the full whack btw)...they chose the wrong side obviously........but maybe we shouldn't vilify them so much
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Apart from suing fans and laughing while our club was being run into the ground? Seriously ffs!
 
Bordersbear said:
The Hearts forum Jambos Kickback will have all the answers you need. If you think the mhanks are obsessed you want to have a look at these feckers. Here is a wee snippet from one of their posters.

I attended the contempt hearing in which King was called as a witness. After the hearing ended I spoke to two of the TOP witnesses and asked them about the gerrymandering that King had achieved with the timing of the share placement. They accepted what I said but said that they had no powers (or desire) within the code to either prevent the share placement, or the CP participation (as long as their percentage didn't go up). I believed that they were sympathetic to the shareholders who might not be able to sell and the probability of their holdings being further diluted in the future, but there was nothing that they could do within the terms of the code.

The only avenue for further reparation that I can see is if someone like Sandy Easdale goes to court and demonstrates that he has been disadvantaged by King's prevarication over making the offer. I have no idea if such an action has any chance of success.
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I'm convinced celtic have people in their marketing/social media departments infiltrating and posting on neutral fan forums to talk shite about us. There's so many it's absurd.
 
Valley Bluenose said:
They bought at the full price at the initial share issue. I think that was around 2m shares though happy to be corrected. Thereafter they substantially increased their shareholding at various prices. 100k shares in 2013 at a reported 44p and then over 1.25m shares in 2014 at the same 20p as Kings offer.

https://www.express.co.uk/sport/football/514873/Sandy-Easdale-share-Rangers-Ibrox

Followed by another 1m or so in early 2015 but no price quoted, you’d guess it would again be around the 20p-30p mark.

https://www.theguardian.com/football/2015/jan/20/rangers-sandy-easdale-buys-1m-shares

I think they ended up with about 6.5m shares between them.
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From memory they paid on average c 35p per share.
Although they didn’t take money directly out of the club their association with Ashley and his cohorts has been enormously damaging to our recovery.
DK offered them the chance to side with the good guys but they refused and blocked regime change.
So f**k them.
 
What a waste of time and money. Now, dilute the Kray twins and the other spivs shares until they have to pay us to give them back.
 
TPP said:
No that’s the last thing they should do. They should wait for further share offers so the money goes to the club and let the fat cunts watch their ‘investment’ dilute over the years
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To you m8 and everyone that replied to my post in the negative. It was only an idea, and I certainly wasn’t advocating padding the pockets of the people who almost ruined our club. I saw the statement they wanted out and were ready to sell their shares and club 1872 have the goal of increasing their shareholding. I wasn’t aware of any imminent share issue and stand corrected on that point.

The thought of those two owning shares in our club still really bothers me and if I had the money I might make an offer for their shares myself. Distasteful as it is giving them money,my post was motivated by removing all traces of the wigs from our club once and for all

I acknowledge however perhaps my thinking was flawed
 
Bordersbear said:
The Hearts forum Jambos Kickback will have all the answers you need. If you think the mhanks are obsessed you want to have a look at these feckers. Here is a wee snippet from one of their posters.

I attended the contempt hearing in which King was called as a witness. After the hearing ended I spoke to two of the TOP witnesses and asked them about the gerrymandering that King had achieved with the timing of the share placement. They accepted what I said but said that they had no powers (or desire) within the code to either prevent the share placement, or the CP participation (as long as their percentage didn't go up). I believed that they were sympathetic to the shareholders who might not be able to sell and the probability of their holdings being further diluted in the future, but there was nothing that they could do within the terms of the code.

The only avenue for further reparation that I can see is if someone like Sandy Easdale goes to court and demonstrates that he has been disadvantaged by King's prevarication over making the offer. I have no idea if such an action has any chance of success.
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That’s a reeking poet if I ever smelt one.
 
Coisty09 said:
I am as certain as I can be that Steven Gerrard would never have come to Rangers if he did not believe that he would get the resources soon that he needs to be the huge success he will turn out to be.
He is a realistic man and understands that it will take a little bit of time but he is learning his trade as he goes.
Can you imagine in 18 months to two years time him being able to buy players worth £30m.
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Imagining it is all we’ll be doing. :D
 
True blue too said:
FAILED TAKEOVER
Rangers chairman Dave King’s £8million club shares offer FAILS after knock-back from Ally McCoist and fan group Club 1872

The Ibrox chief finally lodged an offer to buy the shares last month, but he did not clinch the 50 per cent minimum stake by today's deadline.....

It’s amazing that this failure, is in fact a monumental success and was always going to be the outcome. I genuinely didn’t think it possible to warp this story into yet another negative story relating to The Famous. Anyone outwith the West of Scotland goldfish bowl would read this and automatically think the Gers supporter have somehow rallied against the Chairman when that is far from the truth. ‘Riddle me this, riddle me that’ the strangle hold on the MSM is without doubt riddled with an anti Rangers agenda.
Click to expand...



I failed to get my hole last night - I won't be failing to get the train up to Ibrox in 3 hours however.

Shame La-La and Po have been done up like kippers.
 
AnglianBear said:
The takeover panel were just as corrupt as the legal system here. They knew it would fail yet played the game to drain us of resources.
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They didn't block our last share issue. Without the resolution 11 share issue going ahead DK's offer would almost certainly have reached the threshold for acceptance.
 
jdm1873 said:
The easdales will be fitted as they wanted out and they know that they have no power anymore.

Club 1872 should offer them half what king offered.
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offer them nothing and let them watch what they had become worthless with the next share issue and as the years go past they will know how we fealt when they tried to destroy us.
 
If easedales were going to accept 20p and the shares are worth more,
Would that be a good investment for an institution to purchase them?
 
There will be people in our support who have no idea what's going on who'll read those headlines and think this is some sort of defeat for King.
 
That fat slug Somers should never be forgotten regarding the damage he has caused our club. A sleazebag of the highest order.
 
Barca Bear said:
If easedales were going to accept 20p and the shares are worth more,
Would that be a good investment for an institution to purchase them?
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No institution will buy their shares. Institutional buyers tend to buy listed shares.
 
Pep_x said:
Glad this issue is out of the way.

It actually got alot closer to the 50% than I was expecting.
Would the offer have been accepted if it wasn't for the extra shares issued last year or were they not included in this.
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Was this not because it excluded the shares owned by the so called '' concert party ''
 
YorkshireBlue said:
Strange title by the Herald. "Dave King Fails".

In that case, I failed to get knocked down by a bus when crossing the road earlier.
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Yes and I failed to loss £50 in the bookies earlier and had to leave with £176 what I shut failure if a day I'm having, now if Rangers fail to lose it draw today .
 
Leave them with the shares and let them dilute and dilute. If it had been about getting shares into the right hands I wouldnt have an issue with C1872 buying them. Not now, C1872's money should go to the club in a share issue.
 
Manfred said:
The while thing please.
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Yes it is pretty complicated but I’ll try and keep it simple. When Dave King and T3Bs bought shares to oust the Easdales etc they inadvertently breached a takeover rule about people working together owning more than 30% of the shares in a company. This is what is called a “concert party”. Because together they had 34% of Rangers the Takeover Panel (which governs takeovers in the UK) told King, as the leader of the group that he had to bid for all of the shares other than his and the rest of the concert party. According to company law the ToP was correct even though it was inadvertent. King appealed several times but lost. In the meantime holders of 38% of the remaining shares said they wouldn’t sell.

It is part of the same rules that King only had to actually buy shares if enough people said they would sell so that he and the concert party would end up with over 50%. King and the concert party had 34% and holders of 38% said before the bid that they would not sell. So the bid in practice only applied to 28% of the shares. To get to the 50%, King needed 16% of the 28% to accept. Only 13% did so the bid failed and King didn’t have to buy any shares at all. Phew hope that helps! :))
 
nybear said:
offer them nothing and let them watch what they had become worthless with the next share issue and as the years go past they will know how we fealt when they tried to destroy us.
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The value of their share will increase along with everyone else's.

Yes if they are diluted they will own a smaller proportion of the PLC but that won't mean they will lose money. As the business increases in value so will the shares, including theirs.
 
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