When it comes to matters Ibrox follow follow the money.
Always.
Consequently, Mr David Cunningham will be delighted to offload some of his shares in RIFC to the fine fellows at Club 1872.
The latter has issued this dignified statement:
Club 1872 is pleased to announce the purchase of a further 2,250,000 shares in RIFC Plc, taking our total shareholding to 22,202,838. This represents 5.13% of the total issued share capital of RIFC Plc and returns Club 1872 to the position of 6th largest shareholder.
The shares were purchased for 20p per share at a total cost of £450,000 from New Oasis Asset Limited (Dave King’s family trust). This price represents a 20% discount on the most recent share issue of RIFC Plc.
The year from December 2020 to December 2021 saw Club 1872 take in the largest level of donated funds for a single year in the organisation’s history – a remarkable achievement in such trying times. This is testament to the incredible dedication our Contributors have for fan representation at Rangers and we thank them for their continued support.
For the avoidance of doubt, this money is not going into keeping the Sevco show on the road.
Failure to get to the Champions League next season means more austerity, more free transfers and more loan deals for the ten-year-old club next summer.
I just think that someone should be breaking that news to the fans.
Dave is playing a blinder.
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It now costs more to drop your handbag in any public toilet than to buy a share in that shitehouse of a kkklub
I cannot believe that ANYONE with one iota of intelligence would pay 20p for a Sevco share, the shares would only be worth it, if they knock the sh!thole down & sell the space to someone (anyone-smirk) & that ain`t gonna happen unfortunately,
still, they keep giving and we keep laughing!
I don’t think they’re in a position to knock it down as I don’t believe they own the stadium.
The last thing showing on Companies House website is from Feb. 22nd this year and the quoted price was 25p per share. I’m sure it was mentioned (though not sure where) that the current board had issued shares (in March?) at 10p each, much to King’s chagrin. It all gets very confusing but with THAT klub/klumpany it always is. Anyway, if it’s true about the 10p share issue then Klub1872 is fleecing its follow, followers and enriching King at their cost. Is it even legal what they do with shares? A perennially loss-making company, issuing shares like ‘confetti’, going from around 80 million initially to over 400 million now. They must have some form of financial regulation (probably the FCA) so what the hell are THEY doing as this evil entity just does as it pleases?
Yes, £450K in his sky rocket might – might – put a smile on King’s coupon.
And I’ve got a cheap bridge to sell to Club2012 too! 😉
Going for 5.5% share holding
Didn’t they start with 10%
If Club 1872’s 22 million shares are 5% of total and shares are supposedly 25p each, someone in that board room has Sevco valued at over £100 million. Wonder how much they’d be worth in a proper shares market? Someone is heading for a big fall.😂
Joe
You’re forgetting the £100m+ squad they have. It was in The Sun so it must be true.
https://www.thescottishsun.co.uk/sport/football/4997583/rangers-fc-news-agm-ross-wilson/
So really, Club1872 are on to a winner.
Bear in mind though that the land and stadium are holding company assets. So are Club1872 buying into the ethereal football part or the real holding company part? That’s what really matters when things go t!ts up.
What additions have been added to the squad value since the Sun “report” and how much has been amortised due to the player’s contract running down? Connor Goldson must have reduced his value from whatever figure (of fun) he was valued at to a big fat zero since he will be walking away this summer. How much is a 40+ goalkeeper worth? I think they have been indulging in Trumpian asset valuations.
Celtic on the other hand have sold players since that report and realised value then have replaced those players with ones that look equally valuable.
Also, as Phil says, not one thin dime of Club2012, oops Club1872’s money goes into rangers. It all goes to dodgy glib and shameless Dave.
JS.