Tag Archives: Sandy Easdale

The Ups and Downs of the “Rangers Bloggers” – Civil War is Always More Brutal

Historically civil wars and internecine strife have often been more brutal than conflicts between sovereign nations.

Whether we go back to the US Civil War, which cost the lives of more American soldiers than any conflict before or since, or look at the conflicts brought into the open with the crumbling of the former Yugoslavia in the early 1990s, there seems to be more viciousness exchanged between neighbours than across national frontiers.

Cambodia, China, Russia, many African nation-states – the hatred and violence exceeds wars where patriotism for one’s country can unite a country against another.

(That is not to say that war between nations is civilised and genteel. It is clearly not.)

If we look at the present “conflict” for the soul of Rangers, we can see similar signs – of conflict rather than violence of course. Continue reading

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Filed under Blogging, Rangers

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. Continue reading

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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

How companies are structured – a graphic representation

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

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Filed under Companies Act 2006, Rangers

Why Was Charles Green’s Share Sale Not Mentioned in Rangers Prospectus?

On 19th October 2012 Charles Green, at that stage Chief Executive of The Rangers Football Club Ltd, agreed to transfer 714,285 shares owned by him to Laxey Partners Ltd once free to do so.

Under the terms of the lock-in agreement entered into by Mr Green with Rangers International Football Club PLC (RIFC) on 7th December 2012, Mr Green cannot transfer shares before 7th December 2013, without the consent of RIFC’s NOMAD, Cenkos Securities plc, other than in limited circumstances.

Some questions arise from that announcement.

How Can Someone Sell Shares in a Company Which Does Not Exist? Continue reading

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Filed under Charles Green, Rangers

The Easdale Brothers, Rangers Shares, “Fit and Proper” and Charles Green

And so the Rangers saga continues …

I want to look at the revelation earlier in the week that Mr Green, erstwhile CEO, is selling or has agreed to sell his shares in the PLC which owns 100% of the shares in the company which owns that assets and business which constitute Rangers Football Club to James Easdale.

Mr Easdale, along with his brother Sandy, owns McGill’s Coaches, one of the most successful bus and coach businesses in Scotland.

The BBC suggested the sale was to be to James Easdale, whilst the Scotsman suggested it would be to both James and Sandy.

There are a few questions which arise from the story.

1                    How much of Rangers do the Easdale brothers own just now?

2                    Is there likely to be any difficulty if the Easdales acquire the shares or, as suggested in the reports, seek a Board appointment?

3                    How can Mr Green sell his shares – is he not “locked in”?

I will do my best to clarify each matter. Continue reading

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Filed under Charles Green, Rangers