Smoke Gets In Your Eyes

They asked me how I knew
My true love was blue
I of course replied, something here inside
Cannot be denied

They said some day you’ll find
All who love are blind
When your heart’s on fire, you must realize
Smoke gets in your eyes

There are times when I sit down to write the script of the Sevco Burlesque when I have to take pause to repair my sides as my laughter is threatening a breach. The jokes are flying as thick as the fumes from the G51 nicotine dispenser of choice. If Donald Findlay has cause to visit the directors’ box at Ibrox – which would most probably occur in the early rounds of the Scottish Cup where the lightweight clubs are lined up to provide a smooth Lite path to the Semi-Finals – he might opine that a new Pope had been elected. Unless otherwise informed Rangers are being liquidated. Is the ethereal entity, The Companies Act anomaly, being vaporised? Is this a King device to obscure the paucity on the park via plumes of smoke? Or is it a feel good squirrel for the Gullibillies to distract their attention from the real action that came down the pike on Good Friday?

Statement O’Clock  produced two doozies, viz unaudited interim accounts and a formal announcement of the steps being taken to make an offer of 20p per share to non concert-party stakeholders. Let’s deal with the interim accounts/board-massaged -figures first. Prior to doing so I should point out that unlike Dave King who lies about his accountancy credentials,  I read both Accountancy and Economics at degree level. I specialised in Quantitative Methods and Computer Science. I have no need to turn to a third-party and interpolate his findings, as is the case with the patron saint of plagiarism.

In the audited accounts to 30 June 2017 the RIFC debt was £15.9m which did not include £500,000 in lease finance.

The key paragraph from the interim accounts is the following:

At the period end (31 December 2017), a total of £17.7m of investor loans have been provided interest-free to the Group. The amortisation of the loans using the effective interest rate method resulted in other non- operating charges amounting to £0.8m. Subsequent to the period end, new short-term external funding has been secured providing the Club with greater financial flexibility.”

Evidently in the six month period from 30 June 2017 to 31 December 2017 £1.8m in additional loan debt was required to keep the lights on. The source of this quantum can be found at Companies House, viz:

 

When one adds the £17.7m to Close Asset Finance quantum of circa £2.8m and the £500,000 lease finance agreement, the grand total of the debt is £21m. One should also add the amortised costs which on zero per cent interest loans are the costs of registration. At £800,000 an element of interest is suspected but as these accounts have not been subject to the scrutiny of an auditor, one has no way of determining this as a fact. However in any document signed off by arch criminal Dave King it pays to expect the worst case scenario. In the currency of UEFA, Rangers Lite have debts of 24,785,292 Euros. Losses to 30 June 2015, 2016, 2017 total just shy of £17m which in 2016 & 2017 exceeded UEFA’s 5,000,000 Euros ceiling.  Who in their right minds would invest in this company?

Which takes one to King’s second statement. The Summary of The Offer is instructive:

Under the Offer, further terms of which are set out in Appendix I of this announcement and which will be set out in full in the Offer Document, RIFC Shareholders will receive 20.0 pence in cash for each RIFC Share.

The Offer will extend to all RIFC Shares, which are not held by members of the Concert Party and any further RIFC shares, which are issued or unconditionally allotted whilst the Offer remains open for acceptance.

RIFC Shares will be acquired fully paid and free from all liens, charges, equitable interests, encumbrances, rights of pre-emption and other third-party rights or interests together with all rights attaching thereto, including without limitation the right to receive all dividends and other distributions (if any) announced, declared, made or paid thereafter.

Laird reserves the right to reduce the Offer consideration by the amount of any dividend (or other distribution) which is paid or becomes payable by RIFC to the holders of RIFC Shares.

The Offer is conditional only upon Laird having received acceptances in respect of shares which, together with shares acquired or agreed to be acquired before or during the Offer, will result in Laird and any person acting in concert with it holding shares carrying more than 50 per cent of the voting rights then normally exercisable at a general meeting of RIFC. 

I have highlighted one paragraph in bold red typeface. Prior to looking at the ramifications of this paragraph a breakdown of share ownership and a notable restriction should be considered:

Shareholder No of Ordinary Shares held % of issued share capital
New Oasis Asset Limited 11,869,505 14.57%
Club 1872 Shares CIC 8,732,254 10.71%
George Alexander Taylor 7,575,000 9.30%
Alexander Easdale 5,256,110 6.45%
Douglas Park 5,000,000 6.14%
Julian Wolhardt 3,632,500 4.45%
River and Mercantile Asset Management LLP 3,523,059 4.32%
George Letham 3,299,515 4.05%

Currently 8,500,000 of the Company’s Ordinary Shares (c. 10.4%) are subject to restrictions affecting the right to vote the affected shares, the right to receive payments or distributions in respect of the affected shares and the right to transfer the affected shares. 

The latter restriction cannot prohibit the acceptance of King’s offer at 20p per share. Given that these stakeholders have been stripped of their rights to vote and receive dividends, they will bite King’s hand off.

King’s concert party currently holds 27,674,020 ordinary shares. James Blair’s Club 1872 CIC is not constituted to trade in shares and has no provision to sell its holding of 8,732,254 shares.

If one subtracts the combined concert party/CIC holding from the 81,478,201 of the issued share capital, the actual amount of the shares in play are:

45,071,927 which if sold at 20p would cost King £9,014,385.

I anticipate that the response from these stakeholders will be overwhelming. I have exclusively revealed that the Easdale brothers will sell their holding. Twenty pence is a significant return on shares that I valued at 1p-5p. There is also the dilution of share values to consider. Who would not sell their holding? Only those stupid enough to invest in King. The con man has previous in shafting investors. If proof be required one can find the facts and figures in my archive.

As to how the inveterate criminal will finance his offer, he provides the following information:

It is estimated that full acceptance of the Offer by RIFC Shareholders will result in a maximum cash consideration payable by Laird of £10,746,836. The cash consideration payable under the Offer will be funded using the receipt of dividends to be declared on 4 April 2018 totaling Rand 217,904,049. This amount would convert to £13,074,842.90 at the exchange rates prevailing on the date of this announcement. The dividends will be ring fenced for the purposes of the Offer.”

Not quite Mr. King but the truth is a foreign field in a foreign land to the most glib of Limpopo liars. At this juncture the equity of MicroMega Holdings Group Pte Ltd should be considered:

 
Share A 1 114,211,000 (float of 20,489,320) 17.9% – Dave King
Other Shareholders Type B:
Friedshelf 1382 (Pty) Ltd. 72,634,683 63.2% – Tracey Wardle Hamill ( King’s Daughter)
Greg Morris Family Trust 12,000,800 10.4%
Enigma Investment Holdings Ltd. 3,663,841 3.19%
Seratrix (Pty) Ltd. 3,375,200 2.94%
Heerden Leon Christo Van 1,553,682 1.35%
MICROMEGA FINANCIAL SERVICES PTY LTD 704,026 0.61%
Ross Charles Lewin 641,342 0.56%
Droneworx Pty Ltd. 573,169 0.50%
Christiaan Rudolf Oosthuizen 424,081 0.37%
Russell Bryan Dick 343,254 0.30%

Friedshelf has had an interesting history. At one point it drove a horse and coaches through concert party regulations to boost King’s daughter’s holding to 75%. Dave King as always was behind this illegal transaction. When King’s co-defendant on racketeering charges – Greg Morris – was challenged by shareholders on this breach he was at a loss to explain the source and methods of ‘the anonymous benefactor.’

However as he and King were particularly adept at falsifying quarterly returns few shareholders bailed out on them. Even when fined for Insider Trading their shareholders held firm.

King’s preference A shares and his daughter’s B holding are about to receive a dividend windfall on April 4th. Is there a causal link to some stellar performance by the group? If one were to read one of former chairman King’s reports there would be cause for optimism, however the prosaic facts as reported in the Wall Street Journal is that year on year sales are down by 13.67%.

Finally I revert to King’s threat to deduct any dividends from the 20p offer. If this were permitted King could offer a dividend of 10p and make an offer of 10p per share. Corporate investors might baulk at the 10p offer price while grasping the unexpected dividend with both hands. For circa £4.5m (assuming Blair’s CIC toed the party line) King could undermine demand and creep under the 50% threshold.

One should anticipate James Traynor briefing his SMSM lickspittles that at 20p the equity is undervalued. If this does not work will King step up with a RIFC dividend? When it comes to King anything is possible.

I wish all my readers a peaceful and restful Easter. I on the other hand, for scant reward, produced this well-researched article. One can but hope that it’s of some value. There is no smoke in my eyes.

 

 

 

 

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Ignore The Nonsense, The Irrelevant & The Noise

 

Everyone in Christendom will be looking forward to a hard-earned rest tomorrow. Those who have retired will be looking forward to spending time with grandchildren. Jesus Christ, who was born a Jew, lived his life as a Jew and died as a Jew; was crucified on what has become known as Good Friday, two days after Good Wednesday, with ‘good’ signifying a day of religious observance. Those of faith believe that this man rose from the dead and joined his father in Heaven. Those of my ilk attest that his cadaver was moved by one of his acolytes.

There are those who contend that Rangers rose from the dead and continue to this day. However this is a myth that has been laughed out of court. Counsel for Charles Green stated that the myth of Rangers only lives on in the hearts and minds of those who need the swaddling of supremacy from which to spout their anti-Catholic invective. Charles Green did not buy Rangers as a going concern. He bought a basket of assets.

I won’t be resting as I will be keeping a close eye on proceedings at Ibrox. There are three items that are going down to the wire, viz:

1. Interim accounts to satisfy the SFA and UEFA that The Sevco Burlesque is a going concern.

2. A statement by Dave King that he is prepared to offer 20p per share for equity held by stakeholders who played no part in his concert party carpetbagging.

3. UEFA Licence Fraud.

Let’s deal with the last item first. I have it on good authority that Tony McGlennan has completed his report. It is the first item in Ian Maxwell’s – Stewart Regan’s heir apparent – in tray. Those expecting a new broom to sweep The Augean Stables clean will be disappointed. Maxwell will toe the party line. If Petrie and Dickson are exposed they will be deemed to have acted in ‘good faith.’ Those anticipating justice from the corrupt organ that was one of the instigators of The Five Way Agreement will soon be disabused of this notion. At this point Peter Lawwell would be compelled to act with The Court of Arbitration for Sport his first port of call. McGlennan cannot throw his employers to the wolves. Should he recommend punishing Rangers they will press the Corrupt Consigliere into action and litigate so vigorously that McRae’s tie will whip up an eddy in his soup. CAS is preferable to COS in the final analysis.

On the topic of the Corrupt Consigliere a source who has exchanged inside information with me for three years insists that Club 1872 is not the only CIC within James Blair’s gift. He is adamant that Blair is the beneficial owner of  Edmiston House and a number of other property assets in the environs of Ibrox Stadium. These assets are limited by his personal guarantee. A cynic might contend that Blair and his employer are buying low, transferring to a CIC for tax efficacy, and awaiting the gentrification of the area when the value of their assets will soar. It should of course come as no surprise as Mr. Blair when not kissing Dave King’s arse (more tongue James. Think French!) is a conveyancing solicitor by profession. Word has it that he has more fingers in pies than Sir Bribe & Lie did in his larcenous pomp. You heard it here first, but rest assured it will be pawned off as his own on another site, with a soupçon of additional detail, usually false, to help the medicine go down. The patron saint of plagiarism rarely disappoints.

As for point two, I have never been convinced that King would throw £8m in his NOAL trust fund after bad. He fought tooth and nail against doing so all the way to the Inner House of The Court of Session. He has all the control he needs. NOAL’s 6.7m loan gives King skin in the game. I will be watching the rolls at The Court of Session for the TPE petition apropos King being in contempt of court. If upheld as expected sparks will fly. The Old Lady of Edmiston Drive will need all the asbestos it can muster when ‘porno for pyros’ Dave is at his inflammatory worst.

As for point one something will surely be cobbled together. It will make grim reading. I doubt that Campbell Dallas will be as amenable to King’s assurances on this occasion. There will be numerous emphases of matters and going concern red flags.

The Anti-Prospectus  will be the prosaic counterpoint to any sugar-coated share issue. John Entwistle’s Led and Zeppelin come to mind.

Of course in the land of the one-eyed Gullibilly, King’s garden is coming up roses:

It’s fair to say the last few results have dented the run of positivity surrounding Rangers. From January Rangers had managed to string together a decent run of results and a real head of steam was being created as we approached the old firm game.
However the players failed to reach the heights they had previously set and we fell short, albeit not by the margins in games before that one.
It’s fair to say it was a better performance than previously and arguably we should have taken at least a point. However individual mistakes, on the pitch and off it, are the margins and the gap which we must close.
In January Rangers managed to recruit well and put a recruitment structure in place benefiting our club for the future. Young, hungry players were brought in and contracts renewed to set a solid footing for the club to build on. In that one window we managed to close the gap considerably, but that window must be the first footing for more to come.
As we have discussed on this blog before, Mark Allen has the keys to this club now both structurally and in recruitment. He has the task to get the right men both on the pitch and in the dug out. He had previously said he presented the board with a list of managerial targets almost immediately after the departure of Pedro, something which the board failed to act upon.
It has not been given such short shrift this time, as the rumours begin that we have began to cast our net managerially.
It has been said for a while that Dave King wants a man of ‘stature’ to lead us forward. Rumours of discussions with the Clarke’s, Martinez and De Boer’s of this world remain just that, but they are sure to intensify as the coming weeks progress.
Rangers have a massive decision to make and it’s fair to say the fanbase do have a level of trepidation about it, after all, this will be the boards fifth appointment in the dugout. The problem they have is there isn’t an obvious choice and outstanding candidate out there. There isn’t wiggle room, we don’t have more seasons to waste.
But the foundation is there for any new manager, the squad has a base to build on and whilst recruitment will once again be high in turnover, it has been bolstered by a positive January. We don’t require ten signings, it has to be quality over quantity, with a budget similar to last season we can be more confident Allen will ensure it is spent better than before.
The stadium is having serious money spent on it as previously discussed on this blog. The club have begun the initial stages of the share issue where previous loans to directors will be cleared and fresh working capital raised going forward.
The club are talking to potential new investors and those rumours continue to circulate, this is where the board will come into it’s own because we need that fresh boost of investment new faces could bring, so it will be up to them to make sure that happens. Resolutions passed at the AGM mean they can carefully choose this process.
Rangers aren’t the toxic brand they once were, London is taking the Club seriously again and despite the nonsense spouted, the club are on fantastic terms with the financial sector in the lands capital. Recent laughable rumours surrounding the club are exactly that, laughable.
With the club working hard and soon to be in a position to announce a new multimillion pound manufacturing deal for our strips, the club will be free of toxic deals negotiated before them. No longer will we be tied to the scandalous contracts handed out to Sports Direct and a supplier, which benefits Rangers, will be found.
Thus again making the club more attractive to anyone looking to come in.
But it all remains up to our board, this appointment must be right as the ground work for the club has now been done and it’s up to them to secure the right external funding going forward.
It’s interesting times ahead for Rangers and the club must get back to winning ways on the pitch immediately, whilst the board must grab this opportunity off it
For many it might just be their last chance
Ignore the Nonsense, the Irrelevant and the noise.”

I was tempted to drive a horse and coaches through this comment’s grammar and spelling but in the end I settled for adding bold typeface to the most risible of his claims.

The arrestment order was sent to all UK banks and financial institutions. No NOMAD is prepared to work with the rogue board and their listing on AIM has long been at an end. The munificence of the three bears is also at an end. The beleaguered board is £4.5m shy of the working capital required to finance the next eighteen months. As soon as the family silver was pawned to Close Asset Finance in Manchester (not the merchant bank in the City) anyone engaging in due diligence would run a mile from this most toxic of clubs. Your rumours of investors beating a path to your door are being circulated by Chris Graham and James Traynor.

Here’s an exclusive for you. Traynor leaked the Islamaphobic musings of Graham to the press. Traynor moved quickly to stop Graham eating his lunch.

Prior to the shit hitting the fan I prescribe John James to be taken once per day after meals.

Dave King is to the City what Harold Shipman would be to Saga Holidays. Rumours of goodwill in The Square Mile are built on sand.

 

The SFA’s Achilles Heel

My readers are now alive to the artifice of PR companies. To all intents and purposes only three have any influence in the cesspool that is Scottish professional football. The biggest and by far the best is Media House International. They are a multi-million dollar international operation with a presence in London, New York and Dubai. Their clients include James and Sandy Easdale. Despite giving so much to the Sevco Burlesque, and taking nothing out (not even their petrol expenses) the Easdale brothers were derided by the pond scum which infests the bottom of the RRM barrel. They even received death threats. Their crime? Sandy was sent down in 1989 for the reset of stolen goods. The reset of stolen goods is common currency in the scrap metal business.

Compare and contrast Dave King’s forty-one criminal convictions, each of which carried a tariff of two years imprisonment, and how this was spun by Level 5 as a favourable result. Only in Planet PR can one drop £45m and change to avoid 82 years imprisonment and have it deemed a positive outcome.

At one time King, the apartheid opportunist, was facing 323 indictments. Fraud, money-laundering, share manipulation, exchange violations, bribery, corruption and racketeering. Type ‘career criminal‘ and ‘South Africa’ in your Google browser and note the links to King. Many of these links  were written by your humble correspondent. I saw right through this East End wide-boy from the get-go.

Last but not least is Frame. Darryl Broadfoot, the former SFA Communications Director, asserted to John Clark that in the context of a meeting hosted by tie-in-soup McRae that he was the SFA. Broadfoot would not let the catatonic imbecile talk. A Glasgow Scale Coma would be a step up for McRae.

Broadfoot now plies his trade with Frame and acts as the account manager to the SFA.

A cynic would raise his hat to Broadfoot and his Resolution 12 rebuttal that the DOS/VSS debt of £2.8m had not crystallised.

Sandy Bryson may have mouthed ‘imperfectly registered but eligible’ but I contend that this phrase was concocted by Broadfoot.

What will Broadfoot come up with to sugar-coat Tony McGlennan’s Compliance Report? Will it be released at 9pm on Thursday evening when only a skeleton crew will be manning the desks of the broadcasters and print copy vendors? When Manchester United won the title on Easter Sunday some years ago no-one from the BBC was present to cover it. The TV/Radio hacks were on holiday with their kids. One would not have to colour me surprised if it’s slipped out under the cover of the night.

I have many sources. C Level sources on both sides of the Glasgow divide. The pond scum may wish to assassinate but I’m trusted for my accuracy, honesty and source anonymity by the movers and shakers who do not kick with their left feet.I’m also trusted by those who prefer their team to wear green hoops as they occasionally cast one eye upon an Emerald Isle. One of the latter is either close to or more likely an active participant in Resolution 12. He impressed upon me to focus on this issue. He insisted that it was the SFA’s Achilles Heel.

Broadfoot is renowned for having a predilection for bench pressing his ‘squeezes‘ but casting him as Achilles might be a stretch. One would like to think that Achilles had more luck with with the Greek ladies than jumper-fit Darryl whose only connection with Greece is his ubiquitous bottle of Grecian 2000. He never leaves home without it. Darryl’s knockbacks, dizzies and rubber ears are the stuff of legend but he’s not one to Mone about it.

The fact that it’s now the best part of seven months since SFA counsel gave the Rangers’ UEFA licence investigation a green light to proceed has elicited some suspicion.

To my mind it’s a binary issue, viz:

1. Did Rangers’ executives lie about the £2.8m overdue payable in their UEFA Licence submission.

2. Did the SFA collude in their fraudulent application.

If the former charge is upheld, King’s heir apparent Alastair Johnston is in the dock. Andrew Dickson will also be thrown to the wolves. This to me is a slam dunk.

When I turn my thoughts to point two the fact that Dickson was quite incredibly on the licence committee stinks to high heaven:

” Should Rangers get a licence Andy?”

” Absolutely Rod. What’s not to like?”

What is known about this process is that Petrie chaired three licence committee meetings. If charge one is upheld he is guilty of incompetence. By allowing Dickson to adjudicate his employer’s application I contend that he is also guilty of charge two.

The fundamentals of any enquiry are the 5 W’s:

When? Where? Who? What? Why?”

The When timeline is clear cut. Evidence given under oath at the Whyte trial instructs that the overdue payable had ‘crystallised‘ prior to the 31st March initial cut-off date. Johnston, covering his arse, briefed the Daily Record on 1st April that he had no idea when it would be paid. It most certainly was not paid by Whyte as he had a penchant for not disbursing the PAYE, NI and VAT due to HMRC. When Messengers At Arms turned up at Ibrox in August any idea that Whyte was negotiating with HMRC was quickly kicked into touch.

The SFA submitted the RFC application on April 16, 2011.

The Where is simple. 150 Edmiston Drive and Hampden Park Glasgow.

The What is also straightforward. Licence fraud.

The Why is more challenging but not impenetrable. Who gained most from this licence fraud? The prevailing narrative is that the member club had more to gain than any other party, but this is not the case.

Sir Bribe & Lie had the sale of the toxic club, £18m and change, and a half share in MIM riding on it. Whyte was planning to engage in UEFA roulette to keep the club afloat long enough to punt it in an IPO. No licence no sale.

Would it be beyond someone prepared to pay a $1m cash bribe to have a word in Campbell Ogilvie’s ear and remind him that his £95,000 EBT would not play well in the court of public opinion? Did Murray impress upon Ogilvie that pressure must be brought to bear on Petrie ‘to do the right thing.

Would Petrie’s ascent up the SFA’s greasy pole gone as seamlessly without the help of Ogilvie? And at What price?

The Who in this imbroglio is the most interesting.

McGlennan is a solicitor. If a fraud has occurred he will be alive to the possibility of criminal charges. One could also argue that every application for a licence during the EBT regimen – where incriminating side letters were purposefully excluded from SFA submissions – were also fraudulent.

It’s my firm conviction that Petrie and Dickson sat down to work out how best to subvert the rules for the benefit of Rangers and Sir Bribe & Lie.

If McGlennan’s  report points to fraud and blackmail by SDM, UEFA will take a dim view. They might suspend the member clubs of the SFA from competing in Europe.

Celtic who lost out in the initial fraud might well lose out again.

My source was correct. The SFA does have an Achilles Heel. The Resolution 12 Requisitioners flighted their arrows with deadly precision.

 

 

 

 

 

 

A Good Friday For King?

The City’s Watchdog has never encountered an apartheid opportunist like David Cunningham King. The clue is in his name. King has led them in a dashing white criminal all the way to the Inner House of The Court of Session. It’s time to pay the piper.

The next statement o’clock – I drew 9 p.m. on Friday evening in my local’s sweepstake – will be definitive. The feathers will fly at The Sevco Burlesque.

If King does not make an offer he will be in contempt of court. On the balance of probability he would receive a punitive fine and a three months prison sentence. The latter would be suspended for two to three years. Should he continue to ignore the TPE edict he would be subject to a custodial sentence.

The ornithologists in our midst might suggest that the King genus is a flighty bird which will indubitably migrate to south of The Limpopo. I would proffer that King is a bird who has been happily paddling with a gaggle of Scottish Lickspittles while blissfully unaware that The Exxon Valdez is heading towards him and despite what the mendacious Stewart Robertson would have you believe the effects of the spill will be devastating.

 

If King is sentenced in absentia his inability to sup from The Loving Cup and attend the supremacist bigotfest that is Forces Day will be the least of his worries. I exclusively revealed that one or more creditors is engaged in arrestment procedures. Shoud the Cold Shoulder kick in while King is still chairman of the holding group, The Sevco Project will come to a shuddering halt. RIFC/TRFC will be up to their knees in sweet light crude, if you will.

King has prepared himself for the worst by stepping down from the board at MicroMega. Is this the action of a man who intends to conform with the TPE/COS edicts?

The smart play would be to step down. Yuanker should pen a valedictory. King could contend that it was always his intention to give the club back to the fans and that his positive talks with Club 1872 will inexorably lead to a club of The People run by The People.

However the fly in his crude oil ointment is his NOAL loan for £6.7m which deems that King has a significant interest in the unraveling Sevco Burlesque.

I have it on good authority that the Easdales would bite King’s hands off if he offered 20p per share. Each and every corporate player would join the queue. Ally McCoist would put his one million penny shares on the table. The response would be overwhelming.

James Blair’s CIC – he exclusively owns the equity and provides the limited guarantee – is set up to buy, not sell, and will demur. The Gullibillies will continue to store their shares under the sink with their kitchen roll and marigolds.

However up to 40m shares will be in play. King could be facing an £8m bath. On the balance of probability he will leave Rangers in the detritus of his man-made disaster.

HMS Sevco will be cast adrift on an oil slick.

 

 

King’s Hamster Wheel

Prior to the main thrust of this article, I take pause to reflect on another one million hits milestone being breached. The Sitonfence Speakeasy has been accessed on 19,004,000 occasions. The comments on this site are the best bar none. The SFM comments on a particularly weak guest blog range from maudlin from someone with alcohol dependency and mental health issues, to those who cut to the chase such as Easyjambo. I would not trade any of them for The Mensch, whom the maudlin one thinks is my alter ego. When they engaged with Steerpike under his German philosopher alias Ernest Becker, they had evidently lost the plot. In fairness it was preferable to the maudlin one’s predilection for brass bands. How can anyone take them seriously when they pander to the alcohol-soaked whimsies of a maudlin malcontent?

Someone who takes this site seriously is one of the men pursuing justice for Hollie Greig. Having accessed their website my interest was initially piqued. Was Hollie raped by her father. Indubitably. Her uncle walked in on one of her father’s rape sessions. Was she targeted by a paedophile ring in Aberdeen? Investigative journalist Mark Daly and his colleague at Panorama had a good look at the allegations. They did not stand up. Too many inconsistencies and no evidence. A shot was fired at the home Hollie and her mother shared in a Shropshire village, but the likelihood is that it was someone from the self-styled Hollie’s Army trying to solicit more police interest. Two police investigations did little to satisfy them. I won’t be running with this. When Mark Daly dropped his interest he was abused online. If my decision sparks a backlash then they can join the queue of haters who circle this site like planes in a holding pattern at Heathrow Airport. However unlike Heathrow the haters are not allowed to land and are diverted to Spam International. On a final note if one is alleging that a local sheriff raped Hollie in his sister’s house it would pay to check whether he had a sister. Despite the prosaic fact that the sheriff does not have a sister these campaigner’s came up with a name for her.

I digress. When one looks at the career of James Blair prior to the point when he started riding shotgun with the South African outlaw Dave King, the overriding impression was that the conveyancing solicitor was going nowhere fast. However since the King Coup D’etat of March 6 in 2015 he has never looked back. He now finds himself as a partner in Anderson Strathern’s retail division. Was his promotion to partner due recompense for Blair’s rain-making activities apropos the inveterate career criminal? One could make a cogent case for a causal link.

When King was threatened with imprisonment in regard to being in contempt of court, the corrupt consigliere was by his side. Did Blair draft King’s mendacious affidavit? If nothing else he stood behind it at the Royal Courts of Justice.

When King was playing NOAL and mouse with the  city watchdog for takeovers and mergers, he despatched Blair to his appeal hearing. King’s appeal was summarily dismissed. King was instructed to offer 20p to the shareholder outwith the concert party. King, who would steal a blind man’s cane and sue him for jay-walking, then appealed Lord Bannatyne’s opinion that the city watchdog should have a legal redress bite and not just a ‘King is a pariah‘ bark. His appeal lasted just over four hours before it was kicked into touch.

James Blair is both the secretary of RIFC Plc and the sole shareholder of Club 1872 CIC. He owns the latter lock, stock and smoking barrel. The latter’s board was formerly the preserve of King activists such as Halloween Houston. It’s a closed shop of King lickspittles who in a ‘Turkeys for Xmas’ decision voted for the dilution of their 10% holding.

King, whom they fallaciously described as the chairman of Rangers when he is merely the self-appointed chairman of the holding company, has apprised his lickspittles that he wants them to continue running on a hamster wheel and to pay handsomely for the privilege.

 

If all goes to plan Club 1872 CIC will forever be playing catch-up as they throw good money after bad at every opportunity. Their 7,800 contributors who pony up £40,000 per month have been told to recruit family members as King’s wheel of fortune needs more hamsters. In the dark Hades of the Rangers social media sites one notes that there is no absence of hamsters.

As to the price per share, with no AIM listing or NOMAD and no recourse if these proposed Over-The-Counter transactions go south, a price of in the region of 1p to 5p would be apposite.

However James Blair demurred. Hot from the TAB appeal hearing where 20p had been set, he instructed his CIC board to buy at 27p per share.

Blair knows full well of the corporate carnage wreaked by the rogue board so how can he possibly justify a 50% uplift on the 18p buy-in that was available in March 2015?

This was a blatant act of share price manipulation by Blair. He was acting in the best interests of RIFC Plc to the detriment of those who pony up their hard-earned by monthly direct debit.

Blair is party to this long con. His fingerprints are all over it.

King lied to the auditors. He did not pony up £7.2m. He pawned the family silver and went cap in hand to his right hand man’s CIC. King was pushing against Blair’s open door.

Will this con succeed? Anyone stupid enough to wear bread wrapping on their head in a show of solidarity with a former manager’s surname can step right up. Those who dressed up as rats will be entertained in King’s laboratory as long as they check their frontal lobes at reception.

The Club 1872 Con

“Club 1872 Meeting with Dave King
23 March, 2018

Club 1872 directors recently held a very positive meeting with Rangers Chairman, Dave King to discuss the possibility of Club 1872 taking up a position on the RIFC board. This was a preliminary discussion and various practical considerations were raised and examined.

The Club 1872 board wishes to draw members’ attention to two main points arising from the meeting:

1) The current one year term for Club 1872 board members is an issue that has been raised by a number of members over the past year. It is also something that was discussed in the meeting with the Chairman in connection with an RIFC board place. The current one year term creates challenges in progressing long term plans, and the annual election process causes a period of upheaval each year which disrupts crucial work in taking the organisation forward. It also impacts the aim of securing a place on the RIFC board as this position would not be available if it potentially had to be changed annually.

The Club 1872 board will shortly put a proposal to members to extend the term for Club 1872 board members and introduce staggered elections. The board believes this proposed change would help maintain stability and ensure the organisation continues to function properly through the election process. It would also solve one of the practical difficulties of securing an RIFC board place.

2) Despite being the second largest shareholder currently, members will be aware that a number of individuals have large loans in place with RIFC. These loans will shortly be converted to equity through share issues. This will mean that in order to maintain our position, Club 1872 will need to invest significant funds into Rangers over a number of share issues – most likely running into millions of pounds. Although we are very pleased with the reaction to our share issue campaign, at the current level of membership and contributions we are unlikely to be able to maintain that shareholding in the medium term.

If Club 1872 is to maintain its position we need thousands more Rangers supporters to join the organisation and invest in Rangers. If our shareholding position is not maintained then it becomes less likely that we will secure a place on the RIFC board. The organisation has to show that it can invest in the club on the same basis as the other major shareholders.

Club 1872 does not have an automatic right to an RIFC board place. However, following positive discussions we believe that we can secure one on behalf of our members if the organisation continues to grow and develop. We have added over 400 new members in 8 weeks. We have also raised over half a million pounds for the upcoming share issue. However, given the size of our support and the millions of pounds of investment being provided by other investors, the organisation needs to continue to develop if we are to meet our objectives. We would ask for every one of our members to help us in this regard by recruiting friends and family.

The opportunity in front of us has never existed for Rangers supporters. We have an RIFC board that is willing to work with us and the opportunity for supporters to become one of the major investors and voices in our club. That opportunity may not come again as the club continues to rebuild and gain strength. We would encourage all Rangers supporters to join us and ensure that collectively we are in a position to take advantage of this and ensure the support retains a big enough shareholding to protect the club for generations to come.

We will update our members on our discussions with RIFC as they continue and will shortly put a poll out to members on the subject of the Club 1872 board term.

We thank current members for their ongoing support.”

 

I have long accused Rangers Lite supporters of being stupid, but the level of stupidity being solicited by King and his lickspittles on the Club 1872 board takes the club orange biscuit. Much has been made of the  Corrupt Consigliere relinquishing his position on the board of the lickspittle satellite but little has been published to inform the Gullibillies that he owns the £2 of issued share capital and is listed as their Guarantor at Companies House.

Club 1872 is owned, bought and paid for by the RIFC Secretary. Do these individuals think that we all came down in the last shower?

I added red typeface to highlight a number of takeaways, viz:

Club 1872 does not have an automatic right to an RIFC board place : How fucking disingenuous can one be? Dave King became chairman by calling an EGM and appointing himself. There is nothing to stop Club 1872 doing the same and proposing as many members as they wish on the board. If they have as claimed an RIFC board that is willing to work with us it follows that they would have no objection to the second largest stakeholder having representation on the board.

Alternatively if an EGM did not solicit the required backing, they could take a leaf out of King’s book and threaten to buy shares from non concert party stakeholder unless a board position was forthcoming. Have they forgotten how King planned to impose himself on the board by using supporters’ season ticket money?

If Club 1872 had cojones that were their own, a big if, they could drive a board bargain with the £500,000 that they have in their bank account.

Given that Club 1872 voted to allow the board to print shares and money they knew full well that they would have to spend more to stand still. From the back of a fag packet if the rogue board issue another 100 million shares, bringing the total in circulation to north of 181 million, Club 1872 will require another 10 million shares to maintain their current 10%. At 27p that’s £2.7m.

So step right up Gullibillies and give us £2.7m so that we can cover King’s lies to the auditors.

This is a confidence trick. A so-called CIC votes to allow a board that owns them to dilute their shares and solicit £2.7m. If the Economic Crime Unit were not in such a shambles facing perjury accusations they should be all over this.

The career criminal who is no stranger to ripping off orphanages is now going after kids pocket money:

We would ask for every one of our members to help us in this regard by recruiting friends and family.

There are some who suggest that the Gullibillies deserve King. Some of the former dressed up as ‘Rhats‘ to denigrate the former board. I warned them from the very beginning that he was a career criminal who would stop at nothing to pick their pockets

I was called ‘An Obsessed Taig.’ I am not obsessed. I am an atheist. I don’t  need 20/20 vision to see this confidence trick as it’s staring everyone in the face.