Category Archives: Rangers Share Offer

Some Thoughts Post the Rangers Share Offer – by Den

The spin will be that the issue was a success. I would say that green and co will be very disappointed, £5m shortfall is very significant.

The fans for all their clamour, for all the club PR hype and the slightly heavy legal threats to, off message, commentators have only taken half of their allocation.

I guess it is understandable given that the fans have paid out for STs.  Mr  Green and his board weren’t to know that were they ?

These are tough economic times, typical that recessions happen just 4 years before your share issue. Such bad luck !

The Prospectus didn’t arrive on time to a lot of potential Investors. Who could have foreseen postal delays just before Christmas, who could have allowed a bit more time? Continue reading



Filed under Charles Green, Guest Posts, Rangers Share Offer

Rangers Shares Open at 75p per Share – Nearly 200,000 traded in first 2 hours

You can follow (follow) the Rangers Share price here.

As at 9.56 183,949 shares traded in the first session of trading, having opened at 75 p per share, and climbed to 76.5 p.

So, if all the share sales were by the same subscriber, they would have made a profit of around £10,000, based on a purchase price of 70 p per share.

Any fans hoping to buy shares at a lower price today will be disappointed after the successful flotation yesterday, although now there is no requirement for a minimum spend of £500.

So there is still time for fans to get their hands on a share or two as presents to go in the stockings of their Rangers supporting loved ones!

Posted by Warren Buffett


Filed under Rangers, Rangers Share Offer

Charles Green’s Last Hurrah for the Rangers Share Issue

There is some interesting phraseology here. (I have put on my “Ibroxologist” hat here). My comments are in bold.

From the official Rangers website:-

CHARLES GREEN, chief executive of Rangers, last night released the following statement.

He said: “I am delighted we have been able to fulfil our promise to give fans the opportunity to once again hold shares in the club as that has been our stated aim from the beginning.

Two things – he has fulfilled his promise to give fans the “opportunity” to hold shares. I am sure he is not being negative about share take up, as all the comments from official and unofficial Ibrox mouthpieces has emphasised the fantastic numbers of shares in which interest has been expressed. But the sentence almost has the unspoken addition of “we gave them the chance but they did not take it”. I am sure that is incorrect on my part.

Secondly, the shares are not shares IN THE CLUB. They are shares in the holding company which will own 100% of the company which owns the assets which make up the club. This is a perfectly normal and legitimate structure for a football team. However, if we are looking for precision of language, what is being sold is NOT a share in the club. Continue reading


Filed under Charles Green, Rangers, Rangers Share Offer

Why Rangers Share Issue Might Be Useful For an Alienation Rainy Day

In between lots of real life stuff, there has been little chance to look at the Rangers Prospectus in some detail. I did look to see whether the issue of “gratuitous alienation” might be raised as a risk factor. It does appear to be covered, although obliquely.

I have seen frequent comments asking on what Rangers are going to spend the money which will be raised in the undoubtedly successful share issue, and why they are looking for the money now. To be fair all these are laid out in detail within the Prospectus, and that is where the answers are to be found. However, looking at contingencies, it is always possible that the funds, even though earmarked for one purpose, can be used for another where circumstances justify it. I am NOT suggesting that the Prospectus in any way misrepresents what the cash raised is for. However, if you have some money put away as a deposit for a holiday, but your car breaks down and needs expensive repairs done, it is entirely legitimate to use the reserve for that, and to replenish the funds later.

Against that back cloth I can see how it might be very advantageous to Rangers to have the share issue taking place now, and as successfully as appears to be the case. Continue reading


Filed under Charles Green, Insolvency Act 1986, Rangers, Rangers Share Offer

Charles Green’s Irish Business Connection + Orange Strips? – by Ecojon

When Charlie Green visited Ulster in September this year and sat at a table bedecked with the Ulster Banner many apologists explained he was ignorant of the nuances involved. Fair enough, why would a Yorkshireman know of these matters even though he had been CEO of Rangers and involved in trying to buy the club since at least February of this year.

But I wasn’t so sure because Chico ain’t no dummy and is the second-best snake oil salesman I have ever encountered. My suspicion increased when he was asked at the ‘Rangers Northern Ireland Till I Die’ meeting:

‘Would Rangers consider bringing out an Orange Top?’ and Charlie answered: “Yes, they have a number of designs and are coming near agreement with Adidas”.

Bringing out any football top in a club like Rangers, with a 500 million worldwide support, is an extremely important financial decision & commitment especially when partnered with Mike Ashley’s Sports Direct to flog Rangers gear in its shops. Continue reading


Filed under Charles Green, Guest Posts, Rangers, Rangers Share Offer