Those buoyed by the second half showing of Rangers Lite on Saturday should not get too carried away. The Illegal Concert Party that took control of RIFC on March 6th 2015 included a contagious career criminal from South Africa. King’s contagion threatens to go viral on the 21st January when he fails to comply with a court order that was issued on the twenty-second of December.
Despite fallacious claims by what passes for sentient life at the Sun, any appeal by King is destined to fail. King is stupid but surely even he is not as stupid as the Lite supporters with keyboards who masquerade as journalists at this title. Charles Green’s basket of assets in now a basket case. King might well take the entire board down with him.
There are only two options that will bale out this listing corporate vessel:
1. A successful shares issue which yields fresh capital.
2. King putting his short hands in his long pockets to deliver £7.2m
The second option may have fooled Campbell Dallas but then King was pushing against an open door to a Masonic lodge. It’s not going to happen. King intended to trade his way out of this significant shortfall and pass the tab to Club 1872 and other Gullibillies who cannot see the woods from the trees.
If King remains as a director of RIFC he will contaminate those with significant control of RIFC. Doing business with Rangers Lite will be as appealing as breaking bread with the denizens of a leper colony.
King should be in quarantine in a medical health facility south of the Limpopo. He should not be fronting a share offer. Those throwing their hands in with this career criminal will lose them.
The Takeover Panel Executive will not allow this jumped-up spiv to thumb his nose at them for much longer. The share issue will be scrutinised like no other. If King and his Illegal Concert Party pull any more strokes they will all be suspended from holding office in any PLC.
King is a festering boil that must be lanced. If he won’t fall on his sword he must be put to the sword. This is no time for prevarication. Cheerleaders like Je Suis Graham and Union Jack should hang their heads in shame for letting this headless chimp run amok at Lite.
How many liquidations does it take at Ibrox to change the failing light bulbs in the boardroom?