The saga of the Rangers International Football Club PLC EGM continues!
At 1pm today Rangers made the following announcement to the Stock Exchange:-
Further to the announcements on 22 and 28 August 2013, the Company confirms that the Board’s discussions have continued with representatives of the group who requisitioned (together the “Requisitioners”) a general meeting to consider the proposed resolutions (“Requisition”) detailed in the announcement on 2 August 2013 (“General Meeting”). Continue reading
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Good morning all!
The Rangers International Football Club PLC share price, having sat at around 54 or 55p per share for months, plunged this week to just over 40p. Does this actually matter? Not directly, as I will explain, but it cannot be ignored by those with an investment (personal or financial) in the company which owns the company which owns the assets and business of the football club.
It does not affect Rangers directly. Mr Green’s proud boast that RIFC was not funded by debt, sorry, “external debt” means that the shares are not mortgaged as security for loans or overdrafts. RIFC already has the cash/proceeds of the share sale. It makes nothing from public trading of issued shares. In that direct regard therefore the drop in price is meaningless.