1661 days ago
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.
2603 days ago
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.
3101 days ago
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.
3125 days ago
Hat tip to a reader for flagging up this gem from Companies House, an Annual Return submitted for The Rangers FC Group Limited, part of the Worthington Group (WRN) which thinks it can extract £10 million from creditors of Old Rangers. This is sheer genius mickey-mouse stuff thanks to clown Richard Spurway.
3135 days ago
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.
3148 days ago
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)
3149 days ago
Followers of worthless Old Mother Worthington (WRN) have been intrigued by a filing at Companies House on Friday “S1096 Court Order to Rectify” - oh dear perhaps we should not mention the word “court” to Worthington shadow director and ex Rangers FC (RFC) boss Craig Whyte. What is going on?
3153 days ago
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.
As a reminder, disgraced WH Ireland (WHI) resigned as Nomad to Rangers on March 4. Under AIM Rules if no new Nomad is found within a month a company loses its AIM listing. And that is indeed what happened on April 2.
Rangers explained its humiliating ejection thus:
3160 days ago
A day of drama in the soap opera Rangers FC (RFC) – a nest of vipers, saw Charles Green arrested and Craig Whyte re-arrested, the latter now held in custody. This surely makes the Law Financial/ Worthington (WRN) claim utterly worthless.
3163 days ago
Oh what a tangled nest of vipers is Rangers FC (RFC). I refer not to the club in its current incarnation but to scandals past. It is scandals in the plural and at the heart of them is Craig Whyte, business partner of Aiden Earley – the driving forces behind Worthington (WRN).
3194 days ago
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.
3335 days ago
The lunchtime diners were quiet as I recorded - not quite what you expect on a quiet Wednesday. But I won! Thanks to the supporters and supportive members of the press who turned up to root for me at the High Court. The gagging order, the injunction is lifted and Aiden Earley of the fraud Worthngton (WRN) and Rangers FC pays my costs. This is Round 1.
Round 2 is in a couple of weeks so that money will be hepful.
But for now I am getting hammered wth pizza hardman Darren Atwater as we bask in the glory of fighting for a free press and in the sweet joy that is victory. Bring on the coke & hookers!
3335 days ago
I am not sure if I feel confident. The British legal system is daunting but I know that what I have done in revealing the acts of Aiden Earley is the right thing to do. It is in the public interest, most notably for Jerome pensioners and shareholders in Worthington as well as stakeholders in Rangers FC, that the truth comes out.
3335 days ago
With no reference to any particular court proceedings which may or may not be about to unfold we have an Early Monday caption contest. The deadline for entries is Wednesday when I have an important, er...meeting. Don't hold back, there's no prize just the joy of wide rangersing free speech.
One suspects that stakeholders in Worthington and Rangers FC might be able to supply alternative captions to the one already included in the picture below
3339 days ago
My first meeting with my barrister as I seek to have the Aiden Earley injunction lifted is on Monday afternoon and will cost £1000 +VAT. My lawyers’ fees are already in excess of that. The hearing at the High Court on Wednesday will cost several thousand pounds and so I ask for your URGENT help in getting this injunction lifted so we can expose more stock market crime.
We still have a couple of thousand on the kitty from the Sefton/AIM Cesspit campaign but that will be gone once we pay the first lawyers bill. And the costs here will rack up but it is important that we win.
As a result of our work full dossiers are now with the SFO, UKLA/FCA, HMRC and others.
If you value this work to clean up the stockmarket I ask you
3339 days ago
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.
King himself has not taken a seat on the board but instead Douglas Park has joined along with the other new boys Paul Murray and John Gilligan. The old board indicated that AIM might have issues with King given his colourful past and I guess he has side stepped that and so there is now np reason AIM can object to Rangers staying on the Casino.
All that it needs to do is to find a Nominated Advisor (Nomad) to replace WH Ireland – the employer of disgraced China fraud specialist Paul Shackleton – which quit two days before the EGM. That should not be an issue.
Most Nomads will represent anyone for a fee. After all Paul Shackleton was happy to represent Naibu (NBU) even though its CEO was languishing in gaol although he did not feel the need to inform investors. Shackleton was well aware that the Naibu CEO had a criminal record but again was happy to take Naibu’s money. Quite why Mr Shackleton regards Dave King as worse than Houyan Lin of Naibu escapes me but then perhaps the fact that Naibu had paid his employer £750,000 in two years swayed his opinion. But I guess Shackleton would not be of interest to Rangers.
But
3353 days ago
The results for the six months to March 31 2014 for the fraud Worthington (WRN) were finally released on 29th August 2014. A child of three should have been able to see through them but on the Bulletin Boards the enthusiasm was almost overwhelming – the investing public fell for it hook, line and sinker.
If one looks at the bullet points then head honcho Aiden Earley (oops, sorry I meant to say Doug Ware) and his team had done a great job. The company reported a pre-tax profit of £8.7 million versus a loss of £5.3 million and net assets went from minus £3.5 million to plus £5.9 million. Wow! Pat on the back Aiden, oops I meant Doug.
But hang on Henry, how was this achieved given that the operating cash outflow was £129,000. In fact the whole P&L looks crackers from top to bottom.
3353 days ago
The contents of this article have had to be withdrawn – on a temporary basis because of an interim injunction granted to Mr Aiden Earley. We are appealing this matter as we believe that the activities of this convicted crook and disqualified director, and shadow director at Worthington, merit a wider audience. If you can make a small contribution to our rapidly growing legal bill to ensure that Earley is exposed please do so. Details of why we need assistance and how to help are HERE
3355 days ago
I cannot resist making a joke I made earlier about getting past passport control. That and a favour asked of all Bearcast listeners starts today's podcast, delayed because the internet connection from Kalamata is painfully slow. When we get there I shall discuss Naibu, Camkids, China Chaintek, Northern Petroleum (a genuine request to its lamentable board made in the spirit of friendship becuase I am such a nice guy), Alecto, Afren, Frontier Mining, Motive TV and Nighthawk.
I shoud have mentioned Rangers but forgot. It has had to abandon a second London hotel location for its EGM which will now be held at Ibrox in Glasgow which is big enough and is where all the shareholders live. The EGM should always have been held at Ibrox, any other location was a clear attempt to disenfranchise fans who hate the board. They now have another reason to hate the board and will, I hope, vote en masse to oust them.
3366 days ago
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 Ashley Minion led board reckoned a venue holding 500 down South would do. Oh no. As we predicted at the weekend: Problemo.
A statement out tonight on the Rangers website states:
3368 days ago
I shall turn to the matter of the forthcoming Rangers FC (RFC) EGM later but the high-handed statement signed off by its adviser Mr Paul Shackleton of WH Ireland yesterday should be viewed in light of a shock revelation I serve up today about his own actions (or inactions) regarding AIM listed China fraud Naibu (NBU).
In the Rangers statement Shackleton throws mud at rebel shareholder Dave King, suggesting that his criminal record might make him unsuitable to be director of an AIM casino stock. There is no doubt that in his efforts to evade tax in South Africa, Mr King broke the law and was no angel. So Shackleton would not act for a fellow with a dodgy past (or present)? Really?
I spent a lot of time in 2014 accusing AIM casino listed Naibu of being a fraud.
3370 days ago
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.
3371 days ago
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.
King is a colourful character having had a spit of bother with the South African tax authorities and having lost £20 million when Rangers last went bust. But he is a die-hard blue nose, unlike Ashley, and he reckons that he has the support of the 51% of shareholders needed to oust the board. And today he reckoned that the board would agree to hold an EGM this Friday, for later this month.
Interestingly King also said today that current Nomad, WH Ireland and its China fraud specialist Mr Paul Shackleton, was not “fit and proper”. Since we have seen absolutely no evidence
3374 days ago
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
I have already written to the Scottish FA asking it to investigate – see HERE.
Dear Sirs.
3376 days ago
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.
The letter has been emailed to the newly appointed Compliance Officer at the Scottish FA Mr. Vincent Lunny.
Dear Mr. Lunny.
3378 days ago
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.
