Sandy Easdale’s Grip on Rangers Tightens – But When Did the PLC Know?

Sandy Easdale (one of the brothers behind the very successful McGill’s bus company) has been very active regarding Rangers over the last few days.

Only last week it was announced, just before Rangers kicked off, that he had been appointed to the Board of the former Sevco Scotland Ltd, now The Rangers Football Club Limited. I wrote about that here.

This week has seen four separate Stock Exchange announcements regarding Mr Easdale.

One related to his acquisition of over 2 million shares, giving him a personal holding of 2,842,957 shares in Rangers Intergalactic Football Club PLC, or 4.37% of the issued share capital.

Advertisement

Rangers Announce “No New Directors” then Appoint a New Director!

It is common for businesses to have subsidiaries nesting inside like Russian dolls. That happens in football as well as in commerce generally. It rarely provokes any interest and even less comment.

However the existential pondering on the nature of Rangers Football Club, and its separate identity from that of the company/companies/people who own it makes this a rather more interesting discussion when it comes to RIFC PLC and The Rangers Football Club Limited.

How companies are structured – a graphic representation

Let’s first of all have a wee look at how quickly times can change.

Rangers Shareholders and a Director Go Missing – Will They “Return”? – by ecojon

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.

Ticking Time Bombs and Overdue Rangers Annual Returns – by Ecojon

Charles Green departed Ibrox not to the triumphal strains of Zadoc the Priest but to the more mournful tolling of the plague bell. Now the doors of the dead are about to be opened in a bid to cleanse and expose the shocking but hitherto hidden and mouldering secrets lurking in an empty warchest.

A key to unlocking many puzzling mysteries and ‘Bringing out the Deid’ into the cold light of day could be publication of the Annual Returns for both Sevco 5088 and Sevco Scotland both of which are well overdue and Companies House are duty bound to employ their sanitation hit squad asap.

https://scotslawthoughts.wordpress.com/2013/09/09/mystery-directors-and-the-rangers-sevco-5088-switcheroo-by-ecojon/

I have dealt in detail with various issues concerning these companies as above but I feel it is worth going back to basics to try and understand the conflicting information distorted by smoke and mirrors. Hopefully others with statutory investigative powers will cut through the fog and set the record straight. In this piece, as previously, I will try to use official documents and recorded sources and keep speculation to a minimum although I have no doubt others will fill in the blanks.

Rangers and the Schrödinger EGM

I’m sure my readers are aware of Schrödinger’s cat.

For those who are not, it is a “thought experiment” by the extraordinarily clever Edwin Schrödinger designed to analyse and explain (!) aspects of quantum mechanics and quantum superposition.

Wikipedia provides a helpful explanation as below.

Schrödinger’s cat: a cat, a flask of poison, and a radioactive source are placed in a sealed box. If an internal monitor detects radioactivity (i.e. a single atom decaying), the flask is shattered, releasing the poison that kills the cat.