Rangers are busy with Stock Exchange announcements. Today comes the following:
22 April 2013
Rangers International Football Club plc
(“Rangers” or the “Company”)
In accordance with AIM Rule 17 and further to the Company’s admission document dated 7 December 2012, the Company confirms that in addition to the directorships disclosed in the admission document, Charles Green and Brian Stockbridge held directorships in the following companies, each of which is a subsidiary of the Company, at the time of publication of the document:
Rangers Retail Limited
SEVCO 5088 Limited Continue reading
The ever assiduous BillyBhoy68 has sent me on a couple of documents which could have a bearing on the kerfuffle about Sevco 5088 Ltd, Sevco Scotland Ltd and who bought Rangers. It might also give some circumstantial evidence about the involvement of Mr Whyte.
Finally it answers some questions about the creation of the 22 million Rangers shares, and suggests that keeping paperwork in order is a major problem, even for such experienced and successful businessman as Mr Whyte Green.
One of the documents will be familiar to keen-eyed readers of the blog who have long memories!
Back in July 2012 I wrote about the Sevco 5088 Dis-Application of Pre-Emption Rights.
Part of what I wrote at the time appears below:- Continue reading
Craig Whyte’s declaration he was the catalyst behind the Rangers sale to Charles Green shook Ibrox to its foundation and fired my memory into gear. However before dissecting my lonely grey cells let me jog your memory as there are a few twists and turns along the road to liquidation.
Rangers entered administration on 14 February 2012 and after various bidders dropped by the wayside American tycoon Bill Miller was declared ‘preferred bidder’ for the failed club on 3 May by Rangers administrators Duff & Phelps who were reportedly left ‘stunned’ just five days later when Miller walked away from Ibrox.
Commenting on the withdrawal at the time, administrator David Whitehouse said: ‘Given the fact that Mr Miller did not enter into an exclusivity agreement, we informed all other known potential bidders at the time the door was not closed.
‘As a consequence of Mr Miller’s bid being accepted, three other bidders have come forward to express their interest in buying the club and these offers are being evaluated with the utmost urgency’. I am unclear whether the Sevco offer is included in the trio but the Sevco bid was accepted by the administrator on 14 May. Continue reading