Tag Archives: Share Issue

Why Did Professional Investors Buy Into Rangers Share Issue? – Guest Post by Allybhoy

After reading Goldstein’s blog on this site, I thought the article focused far too much on the Whyte angle. Is Whyte pulling the strings or not? In my opinion what and why things are happening matters more than who is pulling the strings.

Firstly, I was amazed at the success of the Rangers share issue. The club claimed to have raised £22.2m. That is a hell of a lot of money for several reasons – the main one being it was a terrible investment. I can understand supporters being willing to make a financial investment to match their emotional investment … and it’s always nice to have a framed share certificate to display at home. Professional investors are another matter. In the article linked above, Rangers manager Ally McCoist says “The fact that it’s in the region of £22m, and for the fans to chip in with roughly £5m, I think is absolutely staggering”. From that quote we can see that institutional investors were responsible for around £17m raised in the issue. Continue reading

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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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Bill McMurdo Passes on Great News about the Rangers Share Issue!

Bill McMurdo, son of the most famous football agent in Scotland, and a distinguished, popular and prolific blogger on matters Rangers related, is full of positive news today for his favourite team.

According to Bill, who is generally on the button when it comes to all things Ibrox-related:-

“It is my understanding that institutional investor interest for the Rangers IPO has far exceeded club expectations. In fact, Rangers are anticipating that the share issue will be over-subscribed, a positive thing in today’s gloomy economy.”

Fantastic stuff! That must mean that even more than the twenty fund managers who were clamouring to meet Mr Green and to invest their clients’ funds in Rangers shares are beating down the door of the Ibrox Chairman. As Mr McMurdo points out, to do this in the run-up to Christmas, in the midst of dire economic circumstances generally, marks out Mr Green and his talented team of financial wizards as people who might usefully be asked to tell John Swinney or George Osborne how to kick-start business in Scotland and the UK! Continue reading

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