Did the Rangers Share Prospectus Project a Loss for This Year? A Prize if You Can Find It!*

This week Mr Green revealed that “Rangers” will make a loss this year. Sadly, from what I read, he did not indicate if this was “Rangers” the football club; Rangers Football Club Ltd (formerly Sevco Scotland Ltd); or Rangers International Football Club PLC.

However his comments, quoted on the official Rangers website, raised a couple of queries regarding (a) the correctness of the information given on the website and (b) the obligations of the Chief Executive of a quoted public limited company when telling people about potential profits and losses. I will address the second in a later post.

As extracts from the article state:-

CHARLES GREEN has detailed how he plans to turn Rangers from a loss-making company into a profitable one over the next year.

As per projections in the prospectus made available to potential investors late last year, the 2012/13 campaign is seeing money being lost by the Light Blues.

A Bad Day For Rangers, Old and New – And The Spin Keeps Coming

After the decision today by Lord Hodge to end the administration of RFC 2012 PLC (oldco Rangers) and to appoint liquidators, tonight at Ibrox saw the home side (newco Rangers) defeated 3-0 by Inverness Caledonian Thistle. The clinical performance of the away team belied concern that, as an ex-Rangers hero, Terry Butcher’s team could be as ineffectual as that of another former Rangers great, Stuart McCall, in the last round.

Apart from the fact that the players are professionals who, I expect, would be even more determined to win if their boss told them to lose, the managers are too, and it is simply a statistical quirk arising from a small sample size which makes Motherwell’s recent record so poor. For the avoidance of doubt, I am not suggesting that Mr McCall sends out his Motherwell teams to lose to Rangers.

Rangers.co.uk Ltd Operates “Rangers” Website Under Director Donald McIntyre. Could It Be Sued by Liquidator?

In which I wonder about the operator of the “Rangers” website, and am rather surprised to see who the only Director is. I also look at the possibility that the liquidator of Rangers Football Club PLC could end up taking court action for payment against Rangers.co.uk Ltd, now owned, presumably, by one variant of Sevco.  I am also happy to see that Mr Green is quicker with his forms than Mr Whyte was. Finally I consider whether there is the slightest possibility that the administrators could have missed the chance of raising additional sums for creditors.

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The website Rangers.co.uk is the official website of Rangers Football Club. The terms and conditions of the site state:-

“This website is operated by Rangers.co.uk Limited (“Rangers.co.uk”), a joint venture between Rangers Football Club and Perform.”

“Perform” is still listed at the bottom of each page of the site as “powering” the site.

As Rangers.co.uk Ltd is a separate company, I thought I would have a wee look to see how it has got on, and what its present status is.