Companies House Bombshell

Date: 11 December

Form: PSC01

Description: Notification of Alastair Johnson as a person with significant control on November 15.

Regan: “Look Dave you’re fucked. Let Alastair take over or your club will go down the Swanee. Think of my fat cat bonuses from William Hill and Ladbrokes. Since when was the SFA a parochial concern?”

This Companies House bombshell has gone largely unreported in the SMSM. Colour me surprised. So how did Johnston acquire his significant control? One could make a cogent case for Johnston buying out King as it kills two birds with one stone:

1. The ‘Cold Shoulder’ and any Court of Session edicts fall squarely on King, and as a former shareholder the impact on RIFC plc would be mitigated.

2. The £7.2m, promised by King to satisfy the auditors, which would have been a case of throwing bent money after bad, can remain safely ensconced in The British Virgin Islands.

However if (2) holds true, then Campbell Dallas are compromised. Is this announcement the rationale for the  auditors recently beating a path to Edmiston Drive?

Is this the reason for Stewart Robertson dropping all communication with McInnes?

Is Sir Bribe & Lie behind the Johnston putsch? Will he step up to provide the £7.2m quantum required to keep the lights on? Or is Johnston going it alone with a view to raising this quantum at The Rinse & Dry Share Issue?

Developing story….

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20 thoughts on “Companies House Bombshell”

  1. Have people noticed the intimacy of that photo?

    Regan’s arm is around King’s back and his left hand on King’s left shoulder.

    I find it cringing and toe curlingly horrible. Can anyone imagine Regan being so intimate with Dermot Desmond for instance?

  2. This may just be RIFC doing a bit of Companies House housekeeping. On the same day Johnston became a PSC so did Barry Scott. Also, John Gilligan ceased to be a PSC that day. RIFC may just be adopting a belt and braces approach and naming all directors as PSCs. I think these three are the only board level changes since the introduction of the PSC register.

    1. Yep. Gilligan out, and it looks like he sold his shares to Scott and Johnson.

      To me this looks like Gilligan threw in the towel and wanted to cash out. What would be REALLY interesting is the price Scott and Johnson paid for his shares. If the story about RIFC shopping around invoices for factoring are true, you can bet that it was a lot less than 20p! That would be huge if true with significant ramifications for the pending takeover case appeal.

    2. I think Gilligan may have simply been of no further use to King and Co. He brought no money to the table in the shape of loans and his shareholding wasn’t material.. What he brought were his indisputable credentials as a Real Rangers Man. This was important. King trumpeted his RRMness but there is no record of him ever being an Ibrox regular. Gilligan really was one of the ‘follow follow’ brigade and had been since childhood and most importantly the fans knew (and could corroborate) this. In PR terms his link to the fans was priceless. But two years on the fans would buy and rubbish that King spouted and Gilligan was no longer required. Does anyone know if he still goes to games?

  3. Curiouser and Curiouser. Another exclusive!!
    Lord Bannatyne seems to be taking his time with his judgement, one wonders why.The cold shoulder starts to crystallise perhaps?
    Not sure Gallus in Blunderland has the personal capital to fund a purchase. Not sure SIR B&L would wager his own cash without an earner, control for him, allows him and Jnr to resurrect the lucrative 3rd party contracts and skim the hordes and suppliers as an untouchable middle man as before.
    Gallus is a firm believer in spend spend spend. If he has control it could accelerate the demise. Laptop Loyal must not have known about this. They would have trumpeted this as Gallus investing to get RIFC back to their rightful place!! Watch this space!! 🙂

  4. Guessing that brother b has lifted his apron talked to the nipple and decided dck must comply.further guessing it was always the plan to ride back in once craig had cleansed the tax cases.
    Baldy wee jimmie mccoll,ah met him at a weddin in the cooperative hall.might re surface and restore a football club ad well as shipbuilding to govsn.particularly now that stewpot has the made in bonkle honest uns turned up to full volume. Its just been a roundabout route to get there with a few unfortunate crashes delaying the journey.

  5. Additional donation made for a bottle of whiskey for Christmas 🎄 ❄️😄🍀

    JJ: Very kind buddy. A merry Xmas to you and yours.

  6. Usual 4-weekly donation made for Java ‘n’ Baklava.
    Enjoy.

    JJ: Cheers buddy. So nice to receive a generous contribution and not a gripe on the wrong forum. Should readers want access they should not solicit it here as it will fall on deaf ears.

  7. The Company’s House records also show that Mr Barry James Scott, a British citizen living in Hong Kong, was also registered on 11 December as a’person of significant control’ of RIFC. Can you explain the significance of this?

    1. Wildly susceptible that this will be Kings man on the board as he’s ready to kiss Bigoted Auld Alba a Bonny farewell. Even Lord Bannatyne is giving them all the space and time to sort the issues out, that won’t infringe on the job in concluding the £5,000,000 received in haste from Hong Kong to pay Mr Ashley, that was never scrutinised by the SFA or the SPFL. Is FOOTBALL in this country morally bankrupt, as much as the people who run it. A sport of prosaic beauty has been denigrated and soiled on by our “games administers. How so many ‘low brow incompetent ‘Guardians ‘ within the SFA/SPFL have received their well accommodated salary by deciding themselves on what their true wealths worth. Shock-Fuckin-Rooney. “Hang them all” as they are only part of the problem and have no insights in and of a successful future, too busy fighting fires everyday by their own making. SACK THEM ALL, EVEN THEM SITTING IN THE HAMPDEN OFFICES THAT KNOW WHAT’S WRONG, BUT SIT BACK AND SAY NOTHING, iT’S TIME TO GO, IN EVERY JOB,IT NEEDS TO BE A CREAR SWEEP OF THE BROOM. NO COMPASSION SHOWN. This battle aint over.

  8. King ‘LIED’ about putting up the £7,000,000, we all new it was a, LIE end of. There needs to be some agreement that what the ‘Crooks IN Suits’, would standover Dallas/ Campbell whom I doubt to have the ‘cojones’ to do their job RIGHT and inspect and audit all fiscal requirements in the books of TRFC/RIFC and not declaring them ‘Insolvent’ and which would bring them requiring 24 Hrs Police Protection. The CLUB is running while insolvency looks the only course of action. 🙂 Could you imagine the stramash when the Bhuns find out they’re heading for another insolvency event, once the proper allotted 1p shares are given to the directors and allocated, which leaves THEM quids in and not then not having invested any money in the club whatsoever, which leaves them with pure profit. This Board has acted worse than of all the crackpots who walked the marble staircase. Financial Fair Play is being buried in ‘Bony Auld Alba’ because ONE CLUB is the antithesis of such a set of rules designed and set for everyone. Their day will comes if they haven’t already exploded their load.

  9. Looks like a massive fraudulent scam by all of the directors to try and get out of this cold shoulder and trying to stick two fingers up to the Takeover Panel. For this to happen all of the directors are involved – as they have been from the start of course. Don’t see how they could get away with this when they knew that King was being forced to offer to buy the shares from everyone so by doing this Johnston has undermined everyone getting the opportunity to sell their shares to King for more than they are actually worth – what has Johnston paid for these shares? What are the Takeover Panel going to be doing about this?

  10. Regular amount plus a wee Christmas top-up donated JJ. Ref ends in 5911. Best wishes to you and yours. Wouldn’t mind a read of the premium stuff, if not too late.

  11. Usual monthly donation sen (please delete amount).
    I really don’t know how you do it, but your work keeps getting better and better.
    I wish you and your family a merry Christmas and prosperous new year.

    JJ: thanks FB. All the festive best to you and yours

  12. I think of more interest is a small but significant addendum to the accounts now filed as Companies House compared to the accounts published in October. On the very last page under Post Balance Events is an additional para headed Management Team. It states “On October 2017 PC and his management team left the club with associated payroll costs included within the cash flow projections being accelerated for a certain period on termination of these contracts. As the manager’s duties are currently being performed by Graeme Murty on an interim basis, no additional costs are payable until any such time that a new manager may be appointed.
    Does this mean poor old Murts is still being paid his original salary as Head Coach for the Development Squad?
    It is also of note that this additional para is only contained in the TRFC Accounts and not those of RIFC.

  13. JJ long overdue recurring donation ending 7054M set up. Your site is essential reading for all and you put mainstream media to shame. Whilst my main reason for reading your blog is to do with the corruption at the top of Scottish Football I find your non football articles to be both interesting and thought provoking and well deserving of a recurring donation from me. I also tried to comment on PayPal as requested but the option to do so disappeared when I selected the recurring donation option. Hope others do the same is I have as the truth is out there and needs to be told.

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