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Worthington, Rangers, the £20 million loan notes and the landlord of the Red Lion

By Tom Winnifrith, The Sheriff of AIM | Tuesday 19 April 2016


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Brace yourselves: this is sheer comedy involving the fraud Worthington (WRN) and the Rangers pantomime brought to you from the bar of the Red Lion in Whiteleaf, Princes Risborough, Bucks where your host is landlord Tim Hibbert.

A document just lodged at Companies House HERE show sthat Law Financial - a worthless company sold by Craig Whyte to Worthington has issued £20 million of loan notes to Sevco 5088, the owner of Craig's claims against Rangers. Of course it has not a cent of cash has changed hands since neither party has a cent to its name. But were Sevco to go under, Law would have first dibs on its worthless assets.

Craig Whyte is currently unavailable to take calls to explain what is going on but the paperwork was masterminded by Worthington's clownish CEO Doug Ware who tells us all he is going to create a global conglomerate by reversing near bankrupt Worthington into bankrupt Nuna Minerals. But taking time off from the world of international finance Doug completed the latest transaction in the Red Lion public house which I assume is his local.

As you can see on page 31 not only has Worthington changed its fax number to 0xx xxxx xxxx (does that make it ex-directory?) but the witness to this document is the Red Lion's landlord Mr Hibbert.

"Hmmm, Good to see you Tim can I have a pint of lager and a packet of crisps, have a pint yourself and can you sign off on these £20 million loan notes please."

This new hotspot of global capitalism can be seen below.


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Comments

1 comments


  1. Stuart Kaplan

    To be fair to the landlord, if he gets a few hundred thousand warrants for his trouble he will have done a lot more for them than Johan Bruyneel, Lance Armstrong’s peddler [sic].


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