Delistings, Debacles And Endgames

By Ninjaman

Here we are, the 3rd of April. The day after Rangers International Football Club lost its right to trade its shares on the London Stock Exchange.

Predicted by yours truly and just about every other member of the RSL.

We’ve had Merlin, From The Blue Room and countless others tell anyone who would listen that this was inevitable.

To start with let’s get straight to our Interim Chairman’s statement released yesyerday. He tells us it’s the lack of corporate governance by the previous board that’s the reason for their failure to stop the delisting of the club.

That is utter garbage. Bullshit. You can dissect and dismantle that argument instantly. The previous board had a nomad. That nomad said they would resign if this lot of requisitioners won the right to run the club. Which they duly did.

Four weeks ago Dave King told us he had a nomad in waiting – a matter of days he said. There was no issue and suspension from the AIM would be rectified . We would have no problems we were told.

A fortnight ago Dave King went back to South Africa and to my knowledge hasn’t returned since. In case it has escaped the new regimes attention, the support is in meltdown today!

Thousands upon thousands of us have had the value of the shares we bought to help our club in its hours of need obliterated. Shares that were bought for seventy pence now trading at three pence. Cheers for that.

But it’s ok, it’s all the previous directors fault we are told. The directors that were working for Mike Ashley. How many of Mike Ashley’s companies have been delisted?

You honestly couldn’t make this shit up. This new board, full of Rangers Me , blame the previous board for their inability to stay on the stock exchange. And we are supposed to believe that, are we?

I’ll suggest something here that Paul Murray hinted at it in his rant. He whispered something about Rangers being the most complained about PLC on the entire market over the last year!

Now here’s a thing to chew on folks…

I knew this. People that work in the City knew this. Merlin told me this himself months ago. He stated to me that the biggest single danger the club faced over the last year was the prospect of being delisted.

That was down solely to the incredible number of complaints to the AIM and FCA. You want to know where those complaints were coming from? Aye, you guessed it, from the people that were backing King Co. Trying to cause as much hindrance as possible to the board.

It worked really well didn’t it? The new regime has caused the AIM so much grief that it thinks we are toxic. That is not down to the previous board – that is solely down to this board and its backers actions  when trying to gain control of the club.

If this had happened under Charles Green or Sandy Easdale there would be red cards waving, Spivs Out banners and demonstrations at the front doors of Ibrox. The double standards and hypocrisy here are quite spellbinding.

Dave King, the man a South African judge called a glib and shameless liar and a mendacious witness has told a big porky. He told the entire nation he had a nomad. What a load of cock! We know on here that he tried approximately ten nomads, kept getting told the same answer so then it became Dougie Park’s turn to attempt in this impossible quest to find this miraculous nomad.

My guess is that they probably got one, after they stopped using Dave King’s name during the process. Still not enough though, for as long as King is associated with Rangers the market won’t touch u ! The AIM was telling any nomad willing to do the job not to touch us with a barge pole cos they wouldn’t be!

For these people to blame others for their mistakes and failings beggars belie . It’s not working, either. Apart from those incredibly devout Kingites, nobody believes a single word of the pap they churned out yesterday .

We are now delisted. We have been in danger of alienating an entire religion because of a buffoon’s tweet.. No sign of King’s thirty million (stop laughing at the back !) and a board that are at each others throats in regard to investment. I’m sure it’s the old boards fault though…

Now here’s the thing I can’t get my head round. Dave says he’s got thirty million, then that went down to ten, with other investors weighing in the rest. Sounds odd right away when you consider the total spend required to sort out out the wreckage that is Rangers.

It’s not enough, not even close. So why did King say thirty million then backtrack to ten million the instant he got control?

Well he did say his preferred option was to delist from the AIM. Will that make it less costly for him? You’d think if he can now buy the shares of the Institutional Investors for buttons then, yes, obviously.

Will they sell to him? My instinct tells me n . Would they be more likely to sell to Sandy Easdale or even Mike Ashley if he was in a position to? I would think so. I know the Institutional Investors don’t like or respect this lot one bit so doing a deal with them will stick in their throats I’d imagine.

So what is Dave King’s endgame here? To gain complete control he has to delist in order to chase away the big gun investors already there. That might prove harder then he first figured. It was highly noticeable that almost immediately Sandy Easdale has hinted at possible legal action in regards to the delisting of the company.

Will others follow suit? Will Mike Ashley do likewise? There are some seriously heavy hitters that are going to be majorly peed off at this turn of events, obviously.

Could that be why so many of them abstained at the general meeting I wonder?. Was the abstinence a decision to not recognise the faux legal process?. Did they know what the Real Rangers Men were trying to do?

It’s now common knowledge that the Financial Conduct Authority have been and are actively investigation the goings on at Rangers. Did the major shareholders know there was something likely to happen in the near future? Time will tell I suppose.

What isn’t really common knowledge though is this: Dave King is in line to receive a small fortune from BDO, the liquidators of the old company that used to own Rangers.

Ticketus have been told by the Court to pursue Craig Whyte, not Rangers or the liquidators. HMRC will get their money they’re due also.

Dave King is a primary creditor; his claim is for the infamous twenty million he was supposed to have given Rangers years ago. So in effect Dave King is the top creditor in regard to oldco  and trying to get into position to be top dawg in the club right now.

I wonder what Douglas Park makes of that. I’d also be intrigued to know if Mike Ashley is aware of this little titbit.

Ashley has security on the Albion car park, Edmiston Club and Auchinhowie training complex.

Dave King (if he wanted to merge or amalgamate oldco and newco) needs those assets.

What is the endgame for Park and King? They need to find a way to rid the club of Ashley for them to get in a position to run things their way without opposition. Not easy and if Ashley doesn’t want to play ball, he won’t..

This is an asset grab by the looks of it. Stage one completed yesterday with the delisting. I got information that proves there have been lies told recently. Big whoppers at that  but can’t get too detailed right now.

Rangers fans need to wake up to what’s going on here. If things don’t improve very quickly we might not have a football team to support for much longer.

And there are a growing number of people who believe that might actually be the sinister end game here…