The Rangers Saga and Fallout Thread

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4.20 The Offer Letter is confidential between Sevco and the Company, but the principal terms are as follows:
4.20.1 In addition to the £200,000 referred to in Paragraph 4.19, Sevco agrees to advance to the Company the sum of £8,300,000;
4.20.2 £8,300,000 will be available for draw down by the Company no later than 31 July 2012, but only once certain conditions (the ―Conditions‖) are satisfied;
4.20.3 The Company will repay the Loan together with interest on it on or before 31
December 2020

4.22 The relevant Conditions of the Offer Letter for the purposes of this document include the following:
4.22.1 Approval of this Proposal;

You misunderstand. There is an offer of the loan which will go ahead IF the CVA is accepted by creditors.

If they dont accept the CVA, Sevco are obliged to PURCHASE the business and assets for 5.5m.

Its all down in black in white in the CVA, I cant really see what there is to argue about.

From your article

"Many in the mainstream media have jumped on it and incorrectly tried to declare that Green isn't really making an investment at all, just lending us money until we can pay it back some way down the line - one tabloid even went as far to say that the loan had to repaid in full by 2020."

From the CVA

4.20.3 The Company will repay the Loan together with interest on it on or before 31
December 2020.

Hey, maybe one guy on Rangers media is right and Duff and Phelps have cocked up yet again.
 
If the creditors accept the CVA, Green will have the shares and the club... He is looking to build the club so that when he sells it... it will be worth more than the 8.4m + £2 he paid for it...

That is where he will make his profit from...


Then he could buy St Mirren.... it will still be for sale in 4 years time... shut it down... flatten the ground and build some houses on it.. simples
 
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Gav said:
If the creditors accept the CVA, Green will have the shares and the club... He is looking to build the club so that when he sells it... it will be worth more than the 8.4m + £2 he paid for it...

That is where he will make his profit from...


Then he could by St Mirren.... it will still be for sale in 4 years time... shut it down... flatten the ground and build some houses on it.. simples
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He will make his profit from the loan.

St Mirren will be sold this summer, fortunately we are in a far better financial situation than Rangers have ever been in ;)
 
Alasdair Lamont ‏@BBCAlLamont
..we have to assume HMRC are on board. It would be awful for them to turn it down on the day. If that's their decision tell us now."

Yeah Green, it would be awful :P
 
To me it sounds like King wants his mate Paul Murray in charge. Perhaps he should have given Murray some cash to make his CVA proposals acceptable. He also has his shares his shares are nowhere near worth 20 million. If the cva is accepted he would still have his share holding.

Mans a **** why wait till week before cva date is due IMO Dave King is only interested in Dave King these days.
 
McMav said:
To me it sounds like King wants his mate Paul Murray in charge. Perhaps he should have given Murray some cash to make his CVA proposals acceptable. He also has his shares his shares are nowhere near worth 20 million. If the cva is accepted he would still have his share holding.

Mans a **** why wait till week before cva date is due IMO Dave King is only interested in Dave King these days.
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Dave King has only ever been interested in himself.....

Rangers would be a better place without him..
 
It's like I said before. All these money men only care about themselves. Murray, Whyte, King, Green etc. they are all the same.
That Sun article don't make good reading. Mind you, if it's in the sun, it must be true...
 
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Gav said:
If the creditors accept the CVA, Green will have the shares and the club... He is looking to build the club so that when he sells it... it will be worth more than the 8.4m + £2 he paid for it...

That is where he will make his profit from...


Then he could buy St Mirren.... it will still be for sale in 4 years time... shut it down... flatten the ground and build some houses on it.. simples
Click to expand...

Or a tesco some wasteland outside paisley must be worth millions.... ;)

Sorry Mark joking aside anyone wanna bet as to which scottish pundit will write a book first?
 
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jas72 said:
Or a tesco some wasteland outside paisley must be worth millions.... ;)

Sorry Mark joking aside anyone wanna bet as to which scottish pundit will write a book first?
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I think you give the pundits too much credit Jas, Spiers is the only one that is literate and even then he comes out with utter nonsense.
 
Pretty much, it looks like it's all going to completely unravel in the next couple of weeks. Sounds like Green's investors are deserting him and he's even had to ask the Blue Knights if they will invest.
 
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