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NEWSFLOW

Rangers boss Dave King slammed by Takeover Panel for numerous rule breaches - 4 year cold shoulder imposed

2019-10-11 13:17:51

FCA regulated institutions will still be able to deal with Rangers FC, should they want to associate themselves with the financially toxic soccer club, but as of today they can have no dealings at all with its chairman Dave King. The cold shoulder ruling was imposed by the Takeover Panel today.

ARTICLE

A controversial figure but saviour of ShareProphets: Gary Withey RIP

2019-10-02 09:30:06

55 is too young to die. But sadly it appears that lawyer Gary Withey has passed away suddenly and of natural causes. He was a controversial figure but a friend of mine and a saviour of this website.

ARTICLE

Scandal! Profits! Cats! ShareProphets most read stories of the year

2017-12-31 09:35:40

In the last year, ShareProphets has produced 3733 articles from the scandals of Telit's Oozi Cats to the scandals of African Potash to the scandals of Cloudtag. Here are the 100 articles and 25 Bearcasts that were most read by ShareProphets readers.

ARTICLE NEWSFLOW

Takeover Panel not backing down – Rangers FC Rule breaker Dave King being taken to court

2017-04-14 01:38:16

A month ago, Tom reported the Takeover Panel’s decision that Dave King should make a 20p offer for Rangers International Football Club (RFC) (HERE) and also commented on King’s ridiculous response (HERE). Well, King has point blank refused the request to make a bid but the Panel is not backing down without a fight.

ARTICLE

Rule Breaker Dave King spouts 100% bullshit after being told he must make £14 million Rangers bid

2017-03-13 08:36:46

Earlier today the Takeover Panel slammed the dodgy antics of Dave King on numerous counts and ordered him to launch a 20p per share, £14 million, bid for the 85% of Rangers (RFC) shares he does not own. King has responded with a statement of complete and utter horseshit showing that he holds the law of the UK in contempt. King has issued a statement via Rangers which it is worth dissecting for the half truths and bollocks it contains. The statement follows with my comments in bold.

ARTICLE

Dave King on the hook for £14m - forced to bid 20p for Rangers FC and caned by Takeover Panel

2017-03-13 04:21:54

The Takeover Panel has today slammed Rangers (RFC) supremo David King for breaching the UK Takeover Code as well as being a prize arse in not co-operating, indeed appearing to obstruct, its enquiry. The upshot is that he has now been told that he must launch a 20p per share offer for the 85.43% of Rangers he does not own by April 12. That will cost him up to £14 million if everyone accepts.

ARTICLE NEWSFLOW NEWSFLOW

As Predicted: Rangers FC postpones ISDX stockmarket listing – King et al to bail it out (at a price)

2015-11-02 00:30:03

Rangers FC (RFC) has announced that it will postpone its ISDX stockmarket listing until the criminal cases against Charlie Green, Imran Ahmed, Craig Whyte and others are concluded. Pro tem Dave King and associates will bail the club out with short term loans. This is all to do with who owns Ibrox.

ARTICLE NEWSFLOW NEWSFLOW

EXPLOSIVE EXCLUSIVE: Why the £10 million claim by Worthington on Rangers is bogus and how Doug Ware tried to line his pockets with Rangers cash

2015-10-01 23:46:51

One of the joys of being in London is that folks come to see me from the Square Mile bearing documents of great interest. I shall not name my City Source. But I have obtained documents showing why the £10 million claim by Law Financial against Rangers (RFC) is utterly bogus, that Worthington (WRN) knows it is bogus and how Worthington boss Doug Ware tried to line his own pockets in an obscene fashion at the expense of Worthington going behind the back of poor Aiden Earley and Craig Whyte.

ARTICLE

Tom Winnifrith Rangers FC Special - Is there any chance of a stockmarket flotation?

2015-09-28 01:29:13

Featurng all your favourite players in this mad old tale: Craig Whyte, Charles Green, Aiden Earley, Paul Shackleton, WH Ireland, Dave King, Mike Ashley, Old Mother Worthington (WRN) et al. The big question is whether Rangers FC (RFC) can get a stockmarket flotation away and if so when? It is that which I try to answer in this podcast

ARTICLE NEWSFLOW

Rangers FC Group Limited – frantic filing, Worthington stink grows in this alleged fraud

2015-09-15 05:28:29

Mr Craig Whyte has been a busy boy. When not being arrested over a second set of fraud allegations concerning Rangers FC (RFC), our boy had been frantically filing away at Companies House, a series of returns showing the intimate links between himself and Doug Ware and the chaps at Worthington PLC (WRN)

ARTICLE

Exclusive: Why Rangers was booted off the stockmarket – it was a London Stock Exchange covert killing… a warning for Sefton

2015-09-10 07:12:41

On April 2nd 2015 Rangers Football Club (RFC) was booted off the AIM casino, the junior market of the London Stock Exchange.  A nominated adviser, Nomad, for many AIM companies has now contacted us to explain how this was a direct result of a covert killing by the London Stock Exchange (LSE) itself. Shareholders in Sefton Resources (SER) be warned…you may be next.

ARTICLE NEWSFLOW

A New Bulletin Board Moron of the Week Competition & last week’s winner: The power of Tom

2015-08-16 14:32:13

The Bulletin Board Morons are noted sometimes for their denial (Afren delisted today, is there hope), sometimes for their sheer stupidity (Worthington Golden ticket holders) and sometimes for their ability to come up with conspiracy theories which are just the other side of insane (Quindell) and sometimes for letting bigotry or a blue mist overcome reality (Rangers FC). And that brings us to last week’s winning Bulletin Board Moron of the week.

ARTICLE

Notes from Underground - Follow Follow

2015-08-16 02:55:25

The launch of the ShareProphet's China Filthy Forty is the kind of thing that shows why the financial press fear ShareProphets. Clear and devastating. It sums up ShareProphets as a whole. It also demands an informed readership. Your average ThisIsMoney.co.uk reader isn't going to come across a chart of 40 Chinese companies which IPO'd on AIM, shares in which  are almost all underwater, and understand the relevance. This sometimes puts ShareProphets in a bind, where we seem to be wonks speaking to swotters.

ARTICLE

Rangers International Football Club Stockmarket Re-float –up to £20 million to be raised

2015-08-14 02:57:18

Rangers International Football (RFC) recently announced the appointment of Peterhouse Corporate Finance as its ISDX advisor, and sources close to the deal say that ISDX is desperate for RIFC to join its junior market in London. A few uncertainties remain.

ARTICLE NEWSFLOW

Rangers Coming back to the stockmarket, er sort of it's ISDX – Good News

2015-07-31 06:19:48

We had rather missed the comedy show that was Rangers FC (RFC ) as a listed company since it was booted off the AIM Casino on April 2nd 2015. But the club has now taken a step to regaining a listing on ISDX, the market formerly known as Plus. Good news for comedy fans everywhere. Rangers listed and the trial of Craig Whyte of Rangers and Worthington infamy, an autumn of hilarity awaits.

ARTICLE

Rangers – the seemingly impossible achieved as effectively kicked off AIM, but the wrong target?

2015-04-03 03:15:48

Rangers (RFC) has achieved what has looked impossible – effectively being kicked off AIM as a required nominated adviser (‘Nomad’) apparently has “to be satisfied that there are no reputational and/or historical issues with the profile and nature of the company seeking to appoint which might adversely impact on the Nomad”. Seemingly not a problem for the vast number of ludicrous companies there are on the market, but an issue here…

ARTICLE

Rangers – results report “mismanagement of the club in recent years has been simply staggering”

2015-03-31 04:02:04

Today’s results from Rangers International Football Club plc (RFC) show that a new board has significant challenges ahead and raises further questions of the previous regime…

ARTICLE

Rangers – King whacks Ashley but Big Questions Remain & Heads Must Roll

2015-03-07 08:06:53

I am delighted to see that 85% of shareholders in rangers FC (RFC) voted at the EGM to boot out the Ashley patsies and vote on the Dave King slate as directors. But there remain a series of questions about the club’s future on AIM and also about the behaviour of disgraced advisers WH Ireland and Newgate Communications.

ARTICLE NEWSFLOW NEWSFLOW NEWSFLOW NEWSFLOW NEWSFLOW

Rangers FC – The board of morons and knaves now has no venue for EGM – so why not Ibrox?

2015-02-10 00:55:51

The almost universally detested board of AIM Casino listed Rangers FC (RFC) had a cunning plan to deny shareholders democracy at the forthcoming EGM: hold it in London. While 2,000 might have attended the last bun fight in Glasgow, the tossers who advice the Mike Ashley Minion led board reckoned a venue holding 500 down South would do. Oh no.  As we predicted at the weekend: Problemo.

ARTICLE NEWSFLOW

Rangers Football Club urinates on its shareholders and fans with EGM notice

2015-02-07 11:38:54

Rangers (RFC) has announced plans to hold an EGM to vote on a wholesale change of board. The plans are a disgrace, for the EGM is to be held in London at a venue that can hold only 500. Most Rangers shareholders live in Glasgow. This appears a deliberate attempt by Rangers and its shamed financial adviser Mr Paul Shackleton of WH Ireland to disenfranchise fans.

ARTICLE

Did Rangers break AIM Rules again – the tale of the disappearing press release.

2015-02-05 08:48:55

Companies on AIM are meant to post price sensitive information via the Stock Exchange and under Rule 22 they also have a duty to ensure that it is accurate. But Rangers FC (RFC) is advised by China fraud specialist Mr Paul Shackleton of WH Ireland and so yesterday it posted such (mis) information on its own website only. It then withdrew even that release but luckily I have a screen grab for you below.

ARTICLE

Rangers: Dave King reckons the Ashley Minions will soon be out & then the forensic investigations can start

2015-02-04 05:58:49

Rangers FC (RFC) has still not shown a shred of evidence to demonstrate that in accepting loan proposals from Mike Ashley and rejecting other refinancings it acted in the best interests of ALL shareholders. The Ashley minions who run the Rangers board are clearly loathed by the vast majority of Rangers supporters (rightly so in view of the refusal to provide evidence) and businessman Dave King has stated today that their days are numbered.

ARTICLE

Rangers FC - I ask AIM Regulation to launch formal probe

2015-02-01 04:53:21

Earlier this week I asked if the Board of AIM listed Rangers FC could justify why it had rejected two refinancings in favour of a third proposal put forward by a major shareholder in the club Mr. Michael Ashley. The Board of Rangers FC (RFC) is dominated by business associates of Mr. Ashley. Can Rangers show paperwork to justify its decisions and therefore show that it did not breach Section 994 of the 2006 Companies Act? Rangers has not responded. And so today I have written to AIM Regulation Team asking it to investigate

ARTICLE

Rangers FC – An Open Letter to the Scottish FA, Demanding Formal Enquiry

2015-01-30 06:40:09

Earlier this week I asked if the Board of AIM listed Rangers FC could justify why it had rejected two refinancings in favour of a third proposal put forward by a major shareholder in the club Mr. Michael Ashley. The Board of Rangers RF (RFC) is dominated by business associates of Mr. Ashley. Can Rangers show paperwork to justify its decisions and therefore show that it did not breach Section 994 of the 2006 Companies Act? Rangers has not responded. And so today I have written to the Scottish FA asking it to formally investigate.

ARTICLE

Rangers International Football Club plc - Is it breaching the Companies Act? Is its Nomad a cretin or worse?

2015-01-28 04:35:37

Rangers (RFC) has announced agreements with SportsDirect for the provision of a £5 million credit facility, with a further £5 million available “subject to due diligence by SportsDirect prior to drawn down”. However, with the company having admitted to “a number of options”, the deal now announced has been criticised as not being in the company’s best interests… We really question whether it breaches section 994 of the 2006 Companies Act. We shall be contacting AIM Regulation asking for a formal investigation. Since they are chocolate teapots, we will also be contacting the Scottish FA asking it to launch a formal probe as it appears a watchdog with some teeth.

ARTICLE NEWSFLOW NEWSFLOW

Rangers Football Club plc – possible offer approach explained, rejected & now raised

2015-01-08 03:50:01

Having earlier this week announced a possible offer approach from American financier and basketball teams owner Robert Sarver and that a further announcement was “expected shortly”, both Rangers (RFC) and Sarver have made further announcements – the former rejecting the initial approach and the latter explaining his interest and now making a revised proposal…

ARTICLE NEWSFLOW NEWSFLOW NEWSFLOW

Rangers International Football Club plc – possible offer & new credit facility as the extraordinary travails continue

2015-01-05 05:25:19

I previously concluded early last month on Rangers International Football Club (RFC) that the foundations looked to remain not those of a solid investment proposition. The following updates after announcements today of a possible offer and up to £0.5 million credit facility.

ARTICLE NEWSFLOW NEWSFLOW NEWSFLOW NEWSFLOW NEWSFLOW NEWSFLOW

Rangers International Football Club plc – Results said to show “important progress”; Really?

2014-12-02 05:59:05

At 6:34pm on Thursday of last week Rangers International Football Club (RFC) announced financial results that its Chairman David Somers reckoned “reflect important progress in re-establishing a strong and self-sustaining Rangers Football Club”. Why then release them at ‘no one watching o’clock’? The following reviews.

ARTICLE

Rangers International Football Club plc – the boardroom merry-go-round continues as ‘The MASHley’ strikes

2014-10-28 08:36:29

Having earlier this month received a notice from Mike Ashley (the Sports Direct founder and a shareholder in the company) requiring it to call a General Meeting with resolutions for the removal of CEO Graham Wallace and fellow director Philip Nash, Rangers International Football Club plc (RFC) announced on Friday that Nash had resigned and has now announced that it has agreed a £2 million credit facility with Ashley and that Wallace has also resigned. The following updates on these further additions to the extraordinary goings on since the company’s 2012 AIM admission.

ARTICLE

Rangers International Football Club plc – ‘The MASHley’ seeks to strike

2014-10-09 07:10:17

Rangers International Football Club plc (RFC) has announced that it has received a notice from Mike Ashley (the Sports Direct founder and a shareholder in the company) requiring it to call a General Meeting with resolutions for the removal of CEO Graham Wallace and fellow director Philip Nash. The following updates on a further addition to the extraordinary goings on since the company’s 2012 AIM admission.

ARTICLE

Rangers International Football Club plc – fundraising announcement reveals dire current financial situation

2014-08-29 13:27:59

Rangers International Football Club (RFC) has announced an open offer of up to 19,864,918 new shares at 20p each to raise up to £3.97 million before expenses (an estimated £3.6 million net) to purportedly “allow the company to start implementing the strategy to re-build and re-establish Rangers as a stable, sustainable and successful business to deliver both shareholder value and footballing success”. However, further reading reveals a continued dire financial position from a company which has already delivered an extraordinary litany of woe since its December 2012 AIM admission.

ARTICLE

Rangers International Football Club plc – financial woes continuing?

2014-08-08 18:35:36

Rangers International Football Club (RFC) has announced that it “is considering a possible equity issue in which all existing shareholders would be eligible to participate. Support is being sought from institutional investors to underwrite the possible equity issue”. However, is this the whole story from a company which has delivered an extraordinary litany of woe since its December 2012 AIM admission?

ARTICLE

Rangers International Football Club plc – the extraordinary travails continue

2014-07-10 10:30:35

Having considered in April whether the tale of woe at Rangers International Football Club (RFC) was set to continue, the company has this week announced that “Note 30 to the accounts for the 13 month period ended 30 June 2013 was incorrect to the extent that the options to which the share announcement on 1 July 2014 relate were not included”. The following updates on the latest developments of what has been an extraordinary litany of woe here.

ARTICLE

Rangers International Football Club plc – is the extraordinary tale of woe set to continue?

2014-04-29 09:05:44

Having been placed into administration and a CVA proposal having been voted down, the business and assets of the previous holding company of Scottish football club Rangers were acquired and on 19th December 2012 the new holding company, Rangers International Football Club (RFC), was brought to AIM at 70p per share. With the shares currently at 22p, this second piece (for the first, detailing an extraordinary litany of woe from the December 2012 AIM admission to this point, click HERE) reviews the current position following an announcement on Friday of a summary of the findings of a business review which has left a union of Rangers fan groups “absolutely appalled”.

ARTICLE

Rangers International Football Club plc – an extraordinary tale of woe since 2012 AIM admission

2014-04-28 12:20:52

Having been placed into administration and a CVA proposal having been voted down, the business and assets of the previous holding company of Scottish football club Rangers were acquired and on 19th December 2012 the new holding company, Rangers International Football Club (RFC), was brought to AIM at 70p per share. With the shares currently at 22p, this first piece details the extraordinary litany of woe from the December 2012 AIM admission to this point and a second reviews the current position following an announcement on Friday of a summary of the findings of a business review which has left a union of Rangers fan groups “absolutely appalled”.

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