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    Comment on Resolution 12 & The Broken Bond by easyJambo.

    UEFA's firework charge against Rangers (and Feyenoord) has an odd slant in the Evening Times, unless the  ET has been misinformed.

    https://www.eveningtimes.co.uk/sport/18074670.rangers-wont-face-stadium-closure-dodging-uefa-charge-sectarian-chants/

    Rangers WON’T face a partial stadium closure against Young Boys despite a UEFA charge citing them for sectarian chanting.

    The Ibrox outfit were previously hit by a similar sanction and were forced to close a section of the ground against Legia Warsaw in the Europa League qualifiers.

    However they will not suffer the same fate this time after misbehaviour in a subsequent clash.

    It is believed, however, that Gers will be fined after fans set off fireworks in their game against Feyenoord last week.

    More follows.

    easyJambo Also Commented

    Resolution 12 & The Broken Bond
    John Clark 10th December 2019 at 22:04

    I wonder what evidence the Compliance Officer has for any of these charges?

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    You've lost me there JC. Who is this Compliance Officer? indecision

    I've got vague recollections of a Compliant Officer (not) dealing with issues presented to them but that's about it. 


    Resolution 12 & The Broken Bond
    paddy malarkey 10th December 2019 at 20:04

    Is Rule 31 to do with contracts ? 

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    No, but I could give you odds that it’s betting!


    Resolution 12 & The Broken Bond
    On re-reading the BDO report, I think the settlement figure for Wavetower may only be £962,500.

    It does appear as if there were two payments, one in the last six month period and the other in the previous six month period. However, I think that the date headers on the columns in the report are wrong (or at least they are inconsistent with previous reports), leading to the confusion.

    In previous reports under "Statement of Affairs" there are two columns, one which lists the outgoings over the last six months and the other which gives the cumulative total for the liquidation to date (since 2012).

    The dates on this report are 31/10/2018 to 30/10/2019 (I think it should read 01/05/2019 to 30/10/2019) and the other reads 31/10/2012 to 30/04/2019 (should be 31/10/2012 to 30/10/2019).


    Recent Comments by easyJambo

    Celtic’s Questions to Answer
    The PLC has no longer adds any value. It hasn't really had any value since raising funds the original IPO. There is no listing, no public trading facility.  The PLC itself runs at a loss.  The funds raised by the PLC in loans and share issues can be done equally as well by TRFC itself.

    I'd expect a fairly straightforward issue of shares on a one for one basis from RIFC to TRFC shares.

    What I would be looking at is whether or not RIFC is liquidated with any debt attached to it, or on the other hand any dividend is paid to shareholders who don't want to take up shares in TRFC, e.g. a pay-off for King. I don't think either scenario will apply but its worth keeping an eye on what will be a voluntary liquidation.

    The downside I see for Rangers fans and shareholders is that TRFC, as a limited company, is a private company, therefore their need for disclosures and transparency might take a further hit.        


    Celtic’s Questions to Answer
    Final questions

    Fan wishes Gerrard all the best for the rest of the season. Gerrard jokes ‘I get four tickets and I need 20’ in relation to cup final. Thanks board for their support and pleased with progress of the team. It is ‘game on’ and he can’t wait for upcoming matches.

    Supporter raises concerns of segregation barriers at certain matches and says he’s waiting on a reply from Rangers and Police. SR asks for fan to discuss it personally with him. James Blair draws AGM to a close.

    ————————-

    Just the usual soft and planted questions with nothing on the SDI case or funding shortfall. 


    Celtic’s Questions to Answer
    The King's Speech

    https://rangers.co.uk/news/headlines/agm-2019-dave-king-speech/


    Celtic’s Questions to Answer
    I was a witness to the bank driven sham sale to Craig Whyte and watched on on horror.

    King says ‘crisis is behind us’. This will be his final AGM and he will step down in the New Year.

    King will redirect more time to his private affairs. Rangers doesn’t, he says, need his support anymore. An emotional King received a standing ovation from the floor. Being chairman has been ‘by far the greatest privilege’ of his business life. Will stay on to fight Sports Direct

    AGM open to questions from the floor. Club 1872 thank DK for their dealings and being ‘welcoming’ to fan investment. Thanks for huge personal contributions in time and money that supporters will ‘never forget’

    Question related to HMRC story and King says it is ‘not a club issue’. RIFC would have no claim and ‘real victims’ would be supporters and shareholders.

    Question on ticket allocation policy and fans being treated ‘with contempt’. Fan unhappy are missing out on cup final ticket. Stewart Robertson ‘understands frustration’ and club are looking at a new membership scheme.


    Celtic’s Questions to Answer
    Both the Record and the Herald are providing updates from the RIFC AGM.

    https://www.dailyrecord.co.uk/sport/football/football-news/rangers-agm-2019-live-dave-20961315#

    https://www.heraldscotland.com/sport/18060405.rangers-agm-live-latest-updates-dave-king-rangers-board-meet-shareholders/

    Some snippets so far:

    King: "We continue to be bedevilled by Sports Direct’s influence on retail."

    King on investment: He was willing to do it but can’t do it for too long “without risk of collapse.” Says the club needs to get to get back to financial security.

    Ross Wilson asked to give valuation of the squad and provided two estimates. Present market value and projection if they progress. Uplift of £55m at present and £103m projection. An estimate but educated and shows the value of the investment.

    New share issue in January
    Funding initiative for new shares that will deal with the money needed to this season.
    He sees no need to continue the ad hoc investment and can sit down with an approved financial plan for squad.
    There is no longer a strategic need to incur losses. Funding initiative for new shares that will deal with the money needed this season.

    King plans to dismantle the Rangers holding company and fold the shares into the football club.