I have just been informed by excellent Square Mile sources that Dave’s cunning plan has not been accepted.
The folks at the Takeover Panel met in conclave this week and they have decided that they want action and not stated intentions.
Moreover, I’m told that they need to see proof of funds in a UK based escrow account now.
I understand that they also require the appropriate paperwork for the share offer compiled to their satisfaction.
Over to you Dave.
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could gasl declare,say a 20p a share dividend. dividend then to be subtracted from offer price per
share(effective price per share zero) then when no-one takes the offer rescind the dividend?
If not now…. what then…. !!!
O, what a tangled web we weave when first we practise to deceive!
Will anyone ever just press the button on this Shyster?
The longer the farce plays out the less chance those who ponied up the soft loans will ever see their ‘investment’ returned, either in cash or debt for equity swop.
His board/concert party mates must be wondering what’s next from their leader.
So basically the Takeover Panel are full of shit, he’s missed the deadline that they set out within their time frame, yet they still haven’t activated any” Cold Shoulder”..King has played them for fools and it’s easy to see why, just another spineless organisation…..
This is exactly want he wants. He has got them once again doing nothing. they gave him a timescale and he didn’t meet it. now he will push this along the line for months and months as they seem unable/unwilling to act. you say they met as not happy – but they do nothing and will never do anything and king knows this
I’m sure Dave can appeal and come to an amicable arrangement.
?
Rabigyin, Phill , I have to say the blue conclave have shown the patience of the saints! Opps am I allowed to say that?.
All joking aside , seriously it’s a measurement of how desperate things actually are if they weren’t the lad would have been kicked out to the fabled carpark yonks ago. Keep it going laddie
Have they put a time limit on this Phil? Seems to me that the takeover panel are reluctant to move on this.
Perhaps they don’t have the cajones for the fight or even worse, know they have very limited reach and ability to impose sanctions in this modern world.
I hope that your sources are reliably true.
We’re so used in Scotland to anyone connected with Rangers being given leeway, being indulged and having rules re-written to accommodate their latest dodgy scheme.
We’ve had the DOS years,the EBT years & now the Sevco years.
Without intervention from beyond Scotland (City of London Police & Lloyds TSB) the corrupt edifice of Oldco & Murray would likely still be with us.
King truly is a Trumpian character or is it vice versa.
I firmly believe King has never had any intention of complying with the TOP, not unless someone else was funding it. He fought them and appealed their judgements for over a year, and when the highest court in Scotland made their final ruling he ignored the deadline, instead announcing an intention to make the offer a few days later.
On the promised date he then claimed the offer would be made in a few weeks, just as his fellow club directors confirmed no funds had been made available. He then – bizarrely – released a detailed document publicising his intention to move money from SA to make the offer. The TOP don’t really care how he makes the offer as long as he does it as ordered, and legally. Even for a legitimate businessman such a publication is highly unusual; who was it meant for?
One of the three oldest lies are “It’s in the mail.”
The other two are not appropriate for a family blog.
Mmyes.
Casting back to 2015, I do recall that “playboy” businessperson Mr. Raymond Nevitt believed his extradition from South Africa to the UK would be unconstitutional.
The South African courts, however, were inclined to disagree. After all, he had been convicted of business fraud in his absence, at Manchester Crown Court in the United Kingdom.
Interesting thing was, Mr Nevitt himself changed his tune, after experiencing the process of *awaiting* the extradition decision. As his lawyer expressed it, “For the past nine months he’s been living in a hell hole in Pollsmoor jail, with 70 inmates in one room, 40 mattresses, one shower and one lavatory, neither of which worked properly. For many reasons he’s extremely relieved to be back on home soil.”
Just thought I’d mention that.
Brilliant as ever Phil? God help us. Tonight’s story almost as good as you having a source monitoring Walter and Ethel’s phone. Utter embarrassing bullshit
Games up DCK. Thanks Phil.
Gotta love the ‘lazy’ churnalism by Chris McLaughlin on the BBC website that quotes verbatim from the SEVCO website…..
“…..I have defended this ruling on the basis that any offer should not come from me, but should be made by one of my trust companies.
The takeover panel has relented to my request for which I am grateful…….”
Don’t think that was ever mentioned in court and will only succeed in putting the TPE’s noses out of joint.
Double helpings of jelly and ice-cream on me fholks.
I’m sure Dave can turn on the charm and everything will be fine.
Lets hope the takeover panel make this public, so we can laugh at club 1690’s take on it.
Roll up roll up and help a brother out , help him shaft us.
Really enjoy reading your articles and you’re usually bang on the money but how long has this been dragging on for now, do the takeover panel have any powers ? They seem absolutely toothless or just not prepared to take any action.
I can’t understand it but they seem not to trust that global business man Mr David Cunningham King! Heavens to Betsy, whatever next? HH
Hope he’s fked.
Couldn’t decide whether to crack open a Magners or not, but that swings it. It’s high time that slippery ba*tard got his comeuppance. I hope the TOP step out from the red corner swinging.
Cheers Phil!
Let’s face it he’s fucked. I hope he stays on at the Pit of Misery so that the misery continues.
Looking forward to a summer of Ben & Jerrys ( not a great fan of jelly )
Jelly & ice cream in the fridge.
Let the games commence.
Hi Phil; great reporting as always. However, forgive me for thinking this may be more bluster from the TOP. After all, King has managed to string them out for over a year now. My initial, cynical, reaction was – OR WHAT?
I would be interested to know how much time has be been given to provide proof of funds and file appropriate paperwork. Because frankly, if deadline is not by end of day say Monday or Tuesday then these are just more words…..
Only when TOP has issued this infamous cold shoulder or when court finds GASL in contempt will I really believe that they’re done playing around.
So,the neds are the pharyngeal emphatic voice?
sevco bearing the stress FC.
Isn’t GASL rather busy this week in Augusta polishing Gary’s Mashie Niblicks and Rhinoskin Golf Shoes ?
How did the Felon get into USA anyway with his criminal record ?
Big Dave ain’t giving a fuck he’s downing cheap wine and eating Mcdonalds on his shoestring budget over in the USA am sure every time you see dave in picture over there on the golf course am sure the hacks will make it look as though he’s a caddy. And back home the deluded cunts are thinking he’s bringing home a oil rich texan in order to save there obscure pub team from sunny Govan. Keep up the good work Phil yer a star my friend. HH COYBIG YNWA#StripTheTitles
The injustice of the whole thing, imagine actually being held accountable, with a given time frame ,and not just being able to not comply nor bend the rules just a teeny weeny bit. Its a Fenian conspiracy.
Lets hope he manages to come up with it , hes better for us than a goal of a start.
Brilliant as ever Phil ,with thanks. be lucky.
Leaving aside the original takeover date of three years ago…..
Dodgy Dave has been spinning it out for 13 months… He will be hoping for one more to get the gullible loyal to pony up for STs. Not that that will help Dave much. Won’t make any difference to the TOP/COS situation but might allow blue pounds to flow in sufficiently to keep limping on beyond seasons end and keep up the big club myth and the WATP ‘no surrender’ bravado just that bit longer.
Interesting few weeks ahead.
Silence, timmy. Don’t you know that Dave stepped up to save the mighty Rangers from the spivs, and 55 is coming? Watp, 1690, etc etc.
In other news I actually can’t wait to see his next move, the Govan comedy caravan is some laugh!