It is perhaps worth belabouring the point raised here yesterday about the effect of the Brian Stockbridge share options that suddenly came to light earlier this month.
If the people running RIFC plc today did not know about undeclared share options issued to Stockbridge, then what else do they not know? This is the question troubling the men who are currently trying to find external funding to keep the lights on in Ibrox.
Is anyone else sitting on a stash of secret options?
If so, how many and for how much?
If Graham Wallace does not know, how can he ask investors like Laxey Partners to put in more money to exercise share options if he cannot assure them of how much of the company they will own?
Similarly, not being able to tell new shareholders how much of the company they will get for their money if there is a secret stash of options hiding under the mattress of any of the other characters who were involved in the early days of Sevco Scotland Ltd and RIFC plc. It is for Graham Wallace to persuade prospective investors that there are no trap-doors or booby-traps left behind by his predecessors.
Fortunately, Charles Green was not the type of chap to play legal tricks on his fellow business partners.
So I don’t think there is much to worry about.
