Rangers Stock Market Announcements – Do the People Who Write Them Actually Read Them?

Sense has prevailed amongst the Rangers shareholders and, as per the announcement on 19th July, the requisition of an Extraordinary General Meeting has been withdrawn. This was the meeting called for the purpose of removing Mr Murray and Mr Cartmell from the Board and replacing them with James Easdale and Chris Morgan.

All of those matters, except the appointment of Mr Morgan, have since come to pass, and thus Rangers International Football Club PLC (the company which owns the company which owns the assets and business which make up Rangers Football Club) is able to save itself the large sums needed to intimate and convene such a meeting where it has so many private individuals as shareholders.

Whilst, as we are all aware from the extensive coverage, RIFC is a cash rich company, there is never any harm in saving the costs of an unnecessary meeting.

But looking at the announcement, a couple of things caught my eye.

The first relates to the perennial question of whether the Club = the Company or not.

Regular readers will know that I have commented on the way in which the Stock Market announcements were, until the departure of Cenkos Securities as Nominated Adviser, all headed as follows:-

Rangers International Football Club plc

(“Rangers”, the “Company” or “Club”)

However, since the recent change to Strand Hanson, the announcements are now titled:-

Rangers International Football Club plc 

(“Rangers” or the “Company”)

Normally this change would be of little or no significance. However, because the relationship between company and club has been such a contentious issue over the last year, it does not need one to have the mindset of the former Kremlinologists, who could detect signs of shifting Soviet policies because the Minister for Munitions was standing one place further away from Brezhnev at the May Day Parade, to see that there an issue signified by the change.

Could it be that someone has raised objections with the Stock Exchange about this?

(I want to make clear (a) that I have not done so; (b) that I will not be doing so; (c) that I would not be suggesting to anyone else that they should do; and (d) that I am sure the Stock Exchange has far more important issues to look into than this one.)

(And as a follow on to part (d) I am NOT suggesting that any of the more important issues which I am sure the Stock Exchange has open to it to investigate relate to RIFC, and no one should read that into the above comments).

(When you are having to put parenthetical comments on parenthetical comments, then perhaps one is getting a trifle convoluted…)

In any event, it will be interesting to see if the announcements, when they come again, restore the identification of RIFC with “the Club” or not.

There is also an interesting piece in the “blurb” at the foot of the announcement. Remember, this was posted on 19th July 2013 as an official announcement and therefore requires to fulfil Stock Exchange rules regarding accuracy.

The “blurb” reads:-

About Rangers Football Club

Rangers Football Club, formed in Scotland in 1872, is one of the world’s most successful clubs, having won 54 League titles, 33 Scottish Cups, 27 League Cups and the European Cup Winners’ Cup in 1972. The Club’s loyal and sizeable supporter base, both in Scotland and around the world, enables the Club to boast one of the highest percentages of season ticket holders in the UK, with over 38,000 having been sold for the current season. Playing at the 51,082 seats Ibrox Stadium and benefitting from the world class 37 acre Murray Park training facility, the Club has been a dominant force in Scottish football for decades. This world class stadium, training infrastructure and a loyal and passionate global fanbase provide an excellent foundation for the Rangers Group.

Currently the Club are Champions of Division 3 of the SFL and will be competing in Division 2 for the 2013/14 season, although it is the intention of the Directors and the manager for the Club to return to top level football as soon as possible. The history, facilities and ambition of the Club are such that the Club remains a desirable destination for foreign and domestic players alike. The first team squad is managed by Ally McCoist, the former Rangers forward, who remains the Club’s all-time leading goal scorer.

The “Ibroxologists” might read the above and note the repetition of “loyal” as an adjective describing the Rangers fans, but surely an English NOMAD would not be trading on the perceived “loyalist” connections of Rangers and its fans?

Of more importance is the apparent information which one would think was market sensitive, namely that, as per the 19th July announcement, over 38,000 season tickets have been sold. Is that the case, or instead has someone re-hashed an announcement from the end of last season, not realising that we are now, effectively, in 2013-2014? We are definitely NOT in 2012-2013.

If 38,000 season tickets have been sold, then that is a great effort, belying those who saw a likely drop in sales (and, to be fair, selling 30,000 in the present circumstances would be a praise-worthy result).

Maybe the season ticket figures can be clarified?

Almost finally, I have commented before about the repeated references in the RIFC Prospectus and in the Stock Exchange announcements to Mr McCoist being “the Club’s all-time leading goalscorer”. Bearing in mind he is the manager, one would have thought that some compliment on his managerial abilities would have been forthcoming, especially as he is now a triumphant trophy winner!

Surely, for the high fees no doubt charged by the writers of these announcements, they could be expected (a) to make sure that what they say is relevant to the time when the statements is published and (b) that they could find something else to say in praise of Mr McCoist!

Posted by Paul McConville

 

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42 Comments

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42 responses to “Rangers Stock Market Announcements – Do the People Who Write Them Actually Read Them?

  1. josephmcgrath112001809

    In praise of Mr. McCoist: he used to appear on “Question of Sport”.
    Er.. that’s it.

    • tykebhoy

      Are you forgetting the comedic value of watching him coach a professional squad in their efforts to beat postmen, plumbers and window cleaners. 😉


  2. Apologies for being off topic, but this song is appropriate for this morning,
    I expect and demand Celtic take action against this toilet roll.

      • @michaelk
        @Cam
        They ran a story online re the “Thugs” and “Yobbos” who torched the bus depot.
        The story was interspersed with pics of Celtic fans celebrating and Neil Lennon laughing his head off.
        Totally unconnected with the story.
        The pics are now removed!
        Eco posted this o n ecobhoy says: July 21, 2013 at 10:50 am

        I think it’s well worth looking at the above email by CF to understand the origins of the Rangers Bus story and why Celtic have been dragged in.

        Gordon Hay of McKerron Hay is the father of the author of the despicable Sun story who happens to be Cameron Hay.

        • TYPO.
          eco. posted this on TSFM.

        • cam

          Getting a bit para there Barca,,,remember you can’t control the mhedia!
          Eco is certifiable.

          • @Cam
            Not really mate.it is blatant and inflammatory!
            The press in Scotland have been running amok in Scotland for years. if somebody is hurt it is just put down to another O** F*** bam., and they escape blame. In fact they get another story to write!

            • cam

              I think that spitting on a Gers scarf and mouthing sectarian obscenities is far more inflammatory.
              The bus depot fire was obviously a pre meditated act causing major damage,possible injury to fire fighters and the public and could result in job losses,,,it seems to be a joke on here as its the Rangers bus,,,double standards once again from the guardians of integrity.
              I’m appalled i tell you!

        • JimBhoy

          @Barca I am sure there are a McGill coach at the ready bedecked in the red whyte and blue.. 🙂 Good to hear no one was hurt or injured…

          • @Jimbhoy
            morning mate. Yeah, I am glad no one was hurt. If it was a Celtic person who did it , he never did it in my, or my clubs name!
            Unffortunately this type of reporting means that there may indeed still be time for somebody to be injured.
            Some folk need very little encouragement,
            .

            • cam

              Barca,if a loonball is inclined to commit acts of violence due to a newspaper story on a bus being burnt then one can hardly blame a newspaper.
              I’m sitting here outraged at the possibility of that beautiful coach with the RFC crest and tartan and WTP licence plate being torched by alleged sectarian nutters,,,but i’m not gonna go select my favourite cudgel and run amok cos i read the Sun.
              Have an early drink and chill.

        • cam

          The Sun was PMacG’s weapon of choice to serialise his pamphlet Barca,,,does this mean that he has no journalistic integrity?

          Hearts and minds barca,,,,Celtic should get one of those Vatican press officers in post,,,they do a great job.

          • Mac Tomas

            What’s the Vatican got to do with Celtic…. the camster?

            • Fra

              @Mac…Absolutely hee haw Mac. Since Cameron returned from his hols in the shankhill, his humour of old has departed him. Methinks he was scared by the carrying on of his people. These folks rioting in the street were his kith n kin. Oh dear!!!!!!!

            • cam

              PR control,media relations,propaganda,the art of spin,mind control,brainwashing,,,,whatever other name you want to call it.
              My image consultant has managed to keep me out of the nuthouse for a good while.

          • @Cam.
            Cmon mate. That’s a loaded question. I only read from here, and TSFM.
            All I have read of Phil’s is the limited amounts posted on these sites.
            Probably as much as you have read. You make your own mind up on that one.

        • cam

          Make Hay while the Sun shines Barca!

    • cam

      What’s up Barca,,i don’t buy the Sun,,,,what did they do?

  3. Paul, really……..jabba can t be expected to write FT (financial times) worthy articles when he barely manages to string a sentence together.

    Re sally what managerial achievments? Loss of 15 pt lead in their last season in the SPL and buying a 3rd ( 4th tier) title in Scotland?

    Re the removal of “the club” easy to understand why……preparation for the winding up of RIFC and the distancing starts now so they can continue to claim unbroken history.

    Sashes to ashes Bus to dust…….RIP Sevco

    Footnote, result for Easdales, now they can supply the team coach instead of one of their competators, coincidence? methinks not!

    • cam

      Michael,,,you’re not insinuating that the Easdale bros, had anything to do with this criminal act are you?,,,i understand that they employ good lawyers to protect their trading name and that scurrilous rumours can damage a companies ability to compete in a cut throat industry.

      • actually cam looks like you have raised that particular issue I was merley pointing out their good fortune of being in the right place at the right time, lawyer well always 2 sides to a story and given past tradingno one can ever be sure. Yiu now all about scurrilous rumours of course……..

  4. A lot of words to say not very much here, Paul (and your over-use of parentheses has been noted). (You certainly wouldn’t catch me doing that). (er…) But, yes, either Sevco season tickets sales this summer have been fabulous or the announcement drafters are unprofessional. And, yes, if you tell the “club is not the company” lie as often as possible, in as many contexts as possible the lie becomes the truth. Or at least that’s the theory.

  5. JimBhoy

    Aye but Sally could write what he knows about coaching/managing on the back of a small postage stamp with a crayon in capitals with his left hand standing on one leg blindfolded with a parrot on his shoulder whilst whistling the billy boys and doing the bouncy bouncy and eating a greggs pie…

    Ok off to the sun have fun..!!

  6. cam

    Paul,obviously you are suffering from a combination of the heat and your misadventures in the loft.
    I’ve attached a link to a video to combat your suffering.

    It was quite funny watching you carefully pick your way through the legal minefield of commenting on Rangers dealings with the Stock Exchange,,,wouldn’t want another late night letter from Rangers’ lawyers!

  7. JimBhoy

    http://www.dailyrecord.co.uk/sport/football/football-news/rangers-boss-ally-mccoist-spl-2071394

    Read my earlier post the man’s a numpty…Long may he continue as rangers manager..

  8. They never seem to mention that Ally as a player has never ever scored a goal for this proud noble new club and is ipso facto the lowest goal scoring manager. He is by far their least successful manager, as well. Let’s hope no one notices. It is all getting very Zen down Govan way. Who would have thought Jabba would have had such trouble making up good news? Seemed no problem for him when he worked for the DR.

    • tykebhoy

      Ah but that was in the days when Jack was being paid, not just doing it as “a labour of love” as he does now. The Sun story has his paw prints all over it and as Cam kindly pointed out maybe the Sun should have been interspersing the story with current RIFC board members.

  9. cam

    Did anyone else see Leggo’s invite to Paul to join forces and write something on the Gers fiasco?
    Could this be the reason for Leggo’s absence and Paul’s fire rate lessening?
    If they serialise it in the Sun will the bhoys buy it?

  10. Monti

    54 & DEEEED! :D……GUTTED ABOUT THAT! 🙂

  11. Raymilland

    Had anyone witnessed that WATP bus actually move?

    Did it have an engine?
    ===========================================================
    Anyway off topic again

    English football clubs must be in real financial trouble.

    http://www.philmacgiollabhain.ie/a-far-off-league-of-which-they-know-little/#more-3822

    Is your club at death’s door?

    Does the pesky rulebook get in your way?

    Who you gonna call?

  12. tykebhoy

    Maybe Scottish Football could get lucky and the Football League offer the job to Regan and Doncaster job share although between them there’s not much integrity.

    I see elbows has been at it again and Scribd now has CF2 uploading documents proving no official at ayebroke in the run up to admin was a fit or proper person

  13. Raymilland

    English football may not be short of a sponsor or two. However, any football club that spends excessively is potentially one step away from liquidation.

    Any candidate chief executive with knowledge of the occult will have a head start on rival candidates (especially voodoo application of the laws of the sport).

    Being a professional deviant takes years of practice; and is a preferred attribute in the business world.

    Neil & Stewart are off to a flier.

    resurrectionist

    n.
    1. One who steals bodies from graves in order to sell them for dissection; a body snatcher.
    2. One who brings something back into use or notice again.

    See Burke & Hare (aka Doncaster & Regan)

  14. Raymilland

    More from Charlotte:

    Charlotte Fakeovers ‏@CharlotteFakes44m
    Thick Keevins.

    http://www.dailyrecord.co.uk/sport/football/football-news/hugh-keevins-rangers-pre-season-training-2071692

    Hint: Here’s a clue as to how the old club managed way beyond their means.

    http://www.scribd.com/doc/155100674/Rangers-Travel

  15. William Fraser

    Easdales should be happy now. They’ve burnt out the Rangers’ coaches and will no doubt have a couple in reserve. “Gypsies, tramps and thieves”; would anyone believe that an American singer would know so much about the Ibroke board?

    • cam

      Thats an allegation of criminality William,,,are you prepared to back that statement up with evidence?
      The police take a dim view of unsubstantiated allegations of arson.
      I suggest you retract that comment.

      • Budweiser

        ‘ Thats an allegation of criminality William,,,are you prepared to back that statement up with evidence?
        The police take a dim view of unsubstantiated allegations of arson’

        cam.

        Quite right cam! You may find this hard to believe but , some posters on here
        believe they have evidence of murder and have gaily carried on as though blindfolded ! It seems that a wee brickie called Harry Mc Biff was murdered by a couple of his apprentices, and get this– they are all keeping shtum!! Nae use going tae the cops or judges tho mate– they’re aw innit as well.
        What do you think ma son?

  16. lordmac

    i see MCR gets a mention strange that, as that is the company that Duff and Phelps bough over, when the 3 men where directors of MCR that company then and another before that one, they where all directors once again Geir , Clark forget the other GUYS name making up the trio

  17. Stevie

    Best be careful bud The all seeing eyeball will locate your whereabouts and before you know it you’ll be set up and squared.off. Them old fellows don’t take kind tae folk giving away their unmentionables. How far dae ye think you’d get in a pair of concrete speedo’s?

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