As regular readers here will be aware, Mr David Cunningham King is a great believer in the restorative powers of Other People’s Money (OPM).
I think it is fair to say that his last trip to Fair Caledonia was a stressful one for the South African entrepreneur.
Firstly several members of the Sevco High Command were in a state of alternative bliss over the unaudited interim accounts.
My information is that the RIFC chairman played a major role in their creation.
They were greeted with the usual high-Level analysis by the Fitba Fourth Estate.
Unsurprisingly, the stenographers appear to have missed the significance of the “unaudited” part.
One immaculately coiffed chap was particularly distraught at the import of these interims and wanted people close to him to know that he wasn’t involved.
Bless…
The main purpose of Mr King’s sojourn in the land of his birth was to sit down with his Blue Room colleagues to address the Takeover Panel ruling.
Once more, OPM was Dave’s default setting.
The convicted criminal thought it perfectly in order for his fellow directors in the Holding Company Vehicle to front up the money for him!
Alternatively, they could buy him out, and he could Do Walking Away.
My information is that they turned down this generous offer.
I understand that Mr King then pointed out the significant consequences for the company if the monies could not be accessed in time.
The “Cold Shouldering” sanction could be an existential threat to Rangers International Football Club.
Despite being highly educated and equipped with forensic intelligence the import of the Takeover Panel ruling does seem to have eluded the chaps on the sports desks.
Of course, Mr David Cunningham King could simply ignore the order of the Takeover Panel and watch the unfolding chaos from the vantage point of Johannesburg.
However, his UK-based colleagues might find it more uncomfortable.
This might well come down to who folds first.
I think it is fair to say that Mr King and his boardroom colleagues are now looking at each other watching for the slightest tremor of an eyelid.
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When are the lies going to stop coming out of crumble down? They seem to think that every one does believe all the crap each of them talk!. Amazing how billable their fans are. But fear not Kingshill boy will not walk away with out his pockets bulging, but you can be sure of one think, he will putt no money in!! He says 18 million has already been spent by him! Wrong it was the ticket money he has spent, not a penny of his own. WAKEY WAKEY, how many Muppets believe this guy? He is a very ,very dishonest person!!. Ask the judges in South Africa!!! PLEASE let him stay!!
I don’t get why only king has to make an offer, does the offer not have to come from him and the 3 bears? They were all acting in concert
Why doesn’t Mr King make an offer, buy the shares, and sell them in a few years for a HUGE profit?! This is a nailed-on strategy for success. Because I read in the papers that everything is going to be fine [if I may…] https://theclumpany.wordpress.com/2017/03/25/sevcos-confirmed-plan-to-dominate-scottish-football/
King really couldn’t care less what the outcome is, he got what he wanted, a wee shot at being the main man at the top of the staircase. He’s an egotistitical nut job who will simply blame everyone else around him. Personally I hope this guy is around for a while to come and hits the bottom to rest beside the old club from the stadium John Brown played for.
King will walk away but return to the pile of phoo left behind claiming that he put 30 million into number 2 and 20 million into number 1, and the gullibles will just turn out once more and the circus will go round and round until number 4 is required.
Meanwhile The Famous Glasgow Celtic will go onto bigger and better things for years
and years, and all their sons will be Celtic fans. HH
King must stay, and the sooner the better.
I’m confused. If a loan can be represented in unaudited accounts as income (ergo taxable) then surely loans in any other shape or form, irrespective of their name, are also taxable. Or am I missing something here?
Just a comment on the new site. Not sure if by design or not, but in the comment box section it shows me the name / email address of the last person to post a comment
If you run with dogs then fleas are never far away.
Phil
The option of the board buying the shares can not be an option. The three bears are already classified as a concert party so buying the Glibsters shares would mean they essentially would take his position in having to make a full share offer.
Great site. Keep up the good work
King makes the three Bears look like Ursidae that shit in the trees. His msm snapshots make him look like a forlorn unemployed fan.
No interview live on tv as usual. Jabba forbids it. Why? Because King is a proven lying bar steward who cannot control himself and his lies on camera.
The real news is that he tried to sell up and bail out.
Our interims also feature the word ‘unaudited’ at the top. It’s not really that important in this context.
oh,That’s really interesting to know and should be more widely repeated
As the car crash develops into a motorway pile up, Mr King will walk away as a mildly bruised driver of the vehicle which causes the accident.
For all his faults, and there are many, he is a smart guy. Others at the crash scene will not be so lucky. Fatalities are to be expected.
King will be off with his tail between his legs
By the end of this season, admin 2 is now
Almost certain, bye bye sevco.