Dozens of Rangers investors have been airbrushed from the club’s history which we all know is vitally important to the Ibrox fans. These were the doting parents that gave birth to the new Rangers last year and their dosh became the life-blood flowing through the infant’s previously blue body as it blinked for the first time in the light of day. Little did anyone think back then that Vampires would soon be perched on the dodgy stand roofs.
To deny the existence of the missing investors – a lot of whom prefer to be faceless right enough – is akin to the Rangers club telling the Bears that the Gallant Pioneers had never existed and had never formed The Rangers and like the records of their rowing club had disappeared without trace. So why are the Bears not revolting? A good question IMO.
And it’s not just shareholders that have been consigned to the dustbin of history but even club directors have begun to disappear into the ever increasing ‘black hole’ surrounding Ibrox as the inmates attempt to dig an escape tunnel as they aren’t as fleet of foot as Chuckles and want to slip away under cover of darkness.
I recently posted on the failed attempts by Rangers International Football Club Plc to play their part in the abortive attempt to ‘disappear’ Craig Whyte and Aidan Earley as directors of their subsidiary company Sevco 5088 Ltd. But the latest former Rangers director to be electronically terminated at Companies House is Imran Ahmad, a director of The Rangers Football Club Ltd, who has been prematurely buried I’m afraid. I fully accept that many at Ibrox would rather forget the important part that these 3 men played in the formation of the new Rangers but the history tells its own story.
However Imran, Fear Not! I have been able to resurrect you – OK just for a day but every day is important even as a Zombie – and especially so in the dysfunctional Ibrox Board Room where financial and other reports are ignored and remain undiscussed so as not to get in the way of the bloodletting.
So what am I on about? Quite simply the very late filing of the Annual Return for TRFCL which covered the period from its Incorporation date on 29 May 2012 up until 29 May 2013 technically known as the made-up date and I don’t want any sniggers in the cheap seats BTW. The TRFCL Annual Return couldn’t be any simpler as all it listed was that RIFC Plc on the made-up dates was the sole shareholder of 33,415,200 TRFCL shares and listed the live directors on that date.
OK let’s deal with Ahmad first as we can’t have Zombies bumping around the Blue Room – as it’s already full of others with balance problems or so it would appear according to video expert Stockbridge and his fascinating and intimate exposure of the wild side of boardroom life. Come to think of it perhaps Ahmad would be better cast as a Mummy although I wouldn’t bank on it.
Ahmad isn’t listed as a TRFCL director in the Annual Return which provides a snapshot of a private limited company such as TRFCL on its made-up date viz 29 May 2013. A first AR, as this is, should also provide the shareholding history of the company since Incorporation but more on this later.
OK clever Bears you’ve spotted that Ahmad resigned as a director of TRFCL on 29 May 2013 and your little hearts soared believing that all was well and the highly-paid Ibrox lawyers had done another sterling job for the team in blue by not listing him as one of their directors.
Well the bell might have been tolling for Ahmad on 29 May 2013 but he didn’t actually get placed in the crypt until midnight that day so he should have remained ‘alive’ and be listed on the AR as a TRFCL director. My understanding of the position is: ‘The effective time and date from which the resignation takes place is midnight on the date entered on the Form TM01. Thus a sole director can essentially resign themself because at the time of signing they were still the director.’
Possibly I’m wrong – won’t be the first time and won’t be the last but, dare I say it. Perhaps the lawyers buried a live director a tad prematurely but like doctors they tend to bury their mistakes. In any case Ahmad your day out is over so get back to the warchest in the crypt you know the sun is bad for you and shows up all the cracks which even the bandages and other factors can’t hide for much longer. In any case they want to give Ally your directorship so he’ll want his warchest back although he might be better with Brian’s safe although the way Ibrox leaks I expect the combination to be tweeted any moment. Won’t matter anyway as there isn’t any money left just the old TRFC shareholder register to try and tap the punters up for more dosh.
Ah but there’s never been any shareholders according to the TRFCL AR. That’s that plan ootra windae – let me assist you and list the shareholders that I know about from Rangers records – yes I agree that the records go back to 2012 when Sevco 5088 was formed and purchased the sole and exclusive right to purchase the business and assets of Rangers from D&P. However much more to come on that subject and I note the AR for Sevco 5088 is still to be filed.
The minutes of the TRFCL Board Meeting on 31 October provides a large number of the company’s shareholders so let me, in the public interest following the submission of an incomplete AR by TRFCL, list them so that the incomplete AR submitted to Companies House can be corrected and this time FFS make sure you include every shareholder as I might hold a few back as a quality and transparency test. There are various other documented sources to this information should anyone not trust the TRFCL official minutes – Heaven forbid.
Shareholders and shares held missing from the TRFC AR:
Well where better to start than the Great Man himself Mr Green: He was the founder shareholder in TRFCL with 2 x £1 shares which became 200 x 1p shares after sub-division. He also paid £21,999 and was allotted 2,199,900 shares in Sevco Scotland which became TRFCL and although not issued IMO the transaction should still be shown on the AR. The 29 May 2012 Sevco Scotland Board Meeting agreed Green could immediately exercise the option to subscribe for 5 million x 1p shares.
And let’s not forget Ahmad and his Mum’s piggy bank and the 200k loan that guaranteed Sevco 5088 its exclusive right to buy Rangers. As part of his repayment he got 2.2 million shares at 1p each. And there was also the slight problem with the missing deed of novation – I’m afraid Imran is fated to always be in deid trouble.
And another main man Richard Hughes of Zeus Capital also got 2.2 million shares at 1p each for providing a £2 million undertaking to D&P on 13 June 2012 which is an auspicious date as well as a £590k loan the previous day. This is an area worthy of research but it seems the agreement was done orally but not documented. Oh well what can one say? My word is my Bond and all that Old Chap!
OTHER SHAREHOLDERS WHO ARE MISSING FROM AR
Margarita Trust ( 2.6 million later transferred to ATP Investments Ltd); Norne Anstalt (1.2million); Putney Holdings Ltd (700K); Elias Kaisar (100k); Jean T Haddad (250k); Blue Pitch Holdings (4 million); Glenmuir Ltd (1 million); Ian Hart (290k).
Ally McCoist (1 million); Asia Credit Corporation (400k); Patrick Oddie (200k); Craig Mather (1.8 million); Andie Hosie (800k); Malcolm Murray (200k); Angus Kinnear (100k); Stephen Adams (50k); Ian Cormack (25k); John Graham (25k); John McClure (200k); John Goold (100k); Colin Howell (200k); Graham Herring (400k); David Gowans (1 million); Ian Hart (additional 200K).
Gorbon Ltd (1.55 million); Allan McKenzie (500k); Scott McKenzie (25k); Richard Bernstein (400k); Eurovestech Plc (600k); Laxey & Partners (1 million); Mike Ashley (3 million).
Posted by ecojon