Wednesday, 29 July 2015

Rangers suspend Blue Pitch Holdings



Rangers have today confirmed the suspension of four mystery shareholders, including the especially puzzling Blue Pitch Holdings, from having any vote, say or trade privilege until they cough up information about who they actually are.

Along with Blue Pitch are Putney Holdings Limited, ATP Investments Limited and Norne Anstalt and all four have been deemed invalid in a statement released earlier today.

The statement (edited) read:

"In accordance with S.793 of the Companies Act 2006 (S. 793), RIFC has written to certain parties whom it knows or has reasonable cause to believe are interested in RIFC’s shares requiring information about the nature of those interests.

The undernoted parties have not responded to the requests in respect of the holdings shown after their names in brackets:

  • Blue Pitch Holdings (4,000,000),
  • Putney Holdings Limited (700,000),
  • ATP Investments Limited (2,600,000); and
  • Norne Anstalt (1,200,000).

The total number of shares affected is 8,500,000 (c. 10.4% of RIFC’s total issued share capital).


a. The member shall not be entitled to vote at a general meeting either personally or by proxy or to exercise any other right conferred by membership in relation to meetings of  RIFC in respect of such shares;

b. Except in a liquidation of RIFC , no payment shall be made of any sums due from RIFC for such shares and  RIFC shall not meet any liability to pay interest on any such payment;

c. No other distribution shall be made on such shares; and

d. No transfer of any of the shares held by such member shall be registered unless:


Direction notices have been sent to each of the above parties indicating those parties are in default of their obligations under S. 793 and that the measures noted will be imposed until the Board is satisfied that it has received all of the information required in terms of the S. 793 Notice sent to that party.”

The equally baffling Margarita are not included in this list as they are not technically a registered shareholder, but the four above who are, which qualifies as over a tenth of the entire company, all find themselves frozen, and if they ever intended to profit on their investments, will need to give information about themselves.

Something they do not seem prepared to do.

50 comments:

  1. With this lot suspended, will the fans and board be ablr to depend on enough shares (75% I believe) to get a new share issue up and running? Anyone know?
    I think that this is the way to ensure that the Spivs never get back into any poition of power at Ibrox. It will open the way for people to invest money, directly, into the clubs coffers without the fear of the Spivs being able to weasel their way back in to plunder the coffers again.
    By the way, another question please. Who then are Margarita Holdings? What is their significance?
    I remember that they and Blue Pitch always seemed to be the biggest obstacles in getting the Spivs out. If not shareholders, where then does there power lie? Cheers.
    C'mon the Gers!

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  2. Is Mr. Green still lurking in the background?

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  3. This will upset Mike Ashley & crew ! Oh what a shame . lol

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  4. well done, all holders should be known to to club, in king our trust watp,,

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  5. Wouldn't be surprised if Charles green was involved, its got his name written all over it.

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  6. Sounds as if they're cornered,nicemove king n co lets c them worm there way out of that 1.so when we get up too top league n back in champs league these scumbags will want too sell there shares for a nice pay day and then we will kno who are the rat bags behind these shareholders are!! WATP.

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    Replies
    1. You make no sense

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    2. I make no sense! r u a begger! It's in black in white I'll pt it too u in more simple way jst for you since your so thick, if these shareholders don't show who they r behind the names of blue pitch margarita etc ,now pay attention! They cannot sell or buy more shares which me Is straight forward there shareholding is void therefore they can't have an impact in future votes etc or buy a bigger stake. Is that ok for u (STUPID APPEARANCE ) sitting way your manky mob top on bet you sleep in it anol!!!!!

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  7. Ashley wanted to take us over?
    Make commercial deals so bad no other investor would put money in?
    Green working for Ashley ?
    Try to bankrupt us then come in as "saviour"?
    In spite spend millions on NU to show us what he could have done ?

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  8. ashley is just a fat lump of scum,,in king our trust WATP.

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  9. I'm glad king is looking into this, it needs addressed as everyone is in the dark and it has always been a cloud over the club. Will be even more impressed if he fully investigates the 70 million loses over that 18 month period as he promised to do, but it's a start watp

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  10. If Margarita are not shareholders what are they? Please, no drink jokes.
    Will this move now allow a new share issue?
    Does anyone know?

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  11. Smell a huge rat in all of this, 100% sure down the road the Green and Ashley name will be connected, just hope we can prove it sooner than later.

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  12. In King we trust........ffs how gullible are some of the fans.

    Due to the history of the Chairman, he and the club, are toxic in the City, so there will be no share issue. Whose going to fill this gap........the fans as recently voiced by King?

    He seems to have completely forgotten his investment pledges pre EGM..........and no one in the press is asking the hard questions as they are all in the pocket of Level 5!

    Every time King opens his mouth he lies.....he can't help himself.

    The guff about previously out spending Celtic fans was just that guff.

    Look at the turnover figures for the last 15 years.....in only 2 of them was our turnover more than the Tims.

    Again no one questioned the statement.....Level 5 saw to that.

    He's a liability.

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    Replies
    1. IN KING OUR TRUST,,WATP AND ALWAYS WILL BE,,

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  13. They aren't in the drink industry they sell pizzas

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  14. he said he would look at all things to do with the club and im sure he will,its the only way to get the mess fixed out, in king our trust WATP.

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  15. Charles green apparently left gers with around 5% shares and according to stock exchange records these shares were never sold on the market ,so he must at least have these shares if not more.

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  16. Charles green apparently left gers with around 5% shares and according to stock exchange records these shares were never sold on the market ,so he must at least have these shares if not more.

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  17. I think this move would be enough to put off, for now at least, any move, by the Spivs, to get 51% of shares to grab control again. What I don't know is, if they, at some point in the future, declare their names to regain voting rights, are there still enough shares, not under 'safe hands,' that they could scrape together to stage a takeover and raid any monies that are put into the club's coffers?
    Is this the reason that Dave King, the 3 Bears, etc. are only making 'loans' at this time, rather than direct investment? If that's the case, then it would be understandable why they don't want large amounts of cash in the coffers just now. It would be like laying out a big chunk of cheese that would attract the rats to return.
    They only hung around so long because enough people, well intentioned but naively, kept spending money on club merchandise and attending games instead of getting behind the boycott to a man. They were leaving enough crumbs of cheese to keep the rats fed. When the boycott took effect, properly, they departed.
    Could they come back though? Do they have the capability to stage a comeback?
    This move might well be a step to try and stop that, so it is a welcome one. It is a disgrace that people can invest without declaring their names. You'd think that it would be illegal to begin with. If it isn't it bloody well should be. Other, real investors, should know who else is involved in an enterprise where people are putting their money.
    I know that the board would like to tell us all, at this time, but there will be reasons that they can't.
    My hope is, this might force the Spivs to abandon any plans they have. I notice that the board will allow these groups to make a board 'approved sale' of their shares, but not a 'private sale', at this time. It might be worth it to let them keep their names secret in a deal to sell their shares, as long as the shares are sold to the board or other 'safe hands' investors. Just for the sake of getting rid of them for good. Perhaps that is why the board have left this 'board approved' sale avenue open.
    Who knows? The connections behind these groups, threatened with exposure, might lead to people agreeing to renegotiate certain contracts that are crippling the club, at this time.
    The board seem to be doing good work behind the scenes, as well as a sterling job on the football front. We, the supporters, must be ever vigilant and stick right behind the board, the football management team, the players and each other.
    We are Rangers. We are still the greatest football club of them all. They can do their worst. We will not cease to do our best. Onward and upward.
    C'mon the Gers!

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  18. When police Scotland raided sports direct a few months ago they said it was part of a 2 year investigation, not heard anything since, have any fellow bears???

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    Replies
    1. Police Scotland did not RAID sports direct. Dont believe everything the daily record/level5 publish

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    2. It was on all Scottish news tv shows it was even on east anglia sports papers and tv, don't believe the tabloids either my man but it was reported on national tv

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    3. Timothy it was over the national press, you must have missed that ,we're you wind surfing in the Seychelles, had no papers without pictures or were you grounded got caught stealing a sweet of your mum omg WATP

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  19. Negotiations going with SD ...... another BIG step forward. I just hope to god we don't let Allan down as this is NOT the Rangers way somehow we need to protect this young lad he must be going through hell.

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  20. We need to sort this sd contract out no one is winning, surely Ashley must know he is losing sales on all merchandise not just gers tops, I got my boys New football boots online and could have got same ones in sd 34quid less but on principle I can't give Ashley any money. WATP.

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    1. Ashley knows that he will never make money from the Rangers retail, certainly, as things stand 'contract wise'. In fact, he would, in probability, have known that, at some point, a boycott would come, when the details began to emerge. Hence the guaranteed payment from Rangers to SD, even if sales are zero.
      The mistake SD made, it seems, was not putting a repayment date on his 5 million loan. Any investment interest, on this 5 million loan, might be covering that annual payment, at this time. Meaning, Ashley might be getting his payment from the interest made on his own money.
      Rangers were not making any much if any money, from retail, before the boycott. They, obviously, aren't making anything substantial, at all, now that the boycott is in operation. At least now, neither is SD.
      My concern has been that it appears, to me at least, SD are not, and have never seemed to be, concerned about maximising the profits for Rangers and themselves, from Rangers retail. Why would that be the case, as it seems to be, to me. Is it, as some might think, just a way of stopping Rangers from acquiring much needed funding to strengthen it's position? If so, then why?
      If there has been a, possible, deliberate tactic of preventing legitimate investment to strengthen the club, coupled by a, possible, deliberate tactic to stifle the club's income streams, could that signal that moves were/are afoot to end the club, permanently, and sell off all of the assets for profit?
      I wonder what the board would say about any such moves. If, indeed, any such plans have existed or, indeed, do still exist.
      Could that be a reason for the steps taken, by the board, to flush out the secret shareholders? If it is, what might lie in store, if or when the secret shareholders might reveal themselves to regain voting rights?
      Let us hope that these people will relinquish their shares into 'safe hands' in a 'board approved' transfer of their shares. We should wish the board well in their efforts to secure our club. We should be vigilant and back each other to the hilt, board, management, players and supporters, alike.
      The board will do what they have to do, while we get right behind the team on the park. We are Rangers. We are still the greatest football club of all. Others will do their worst. We will continue to do our best. Onward and upward.
      C'mon the Gers!

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    2. Why didn't you buy them at sports direct and donate the 34 pounds you saved to rangers, like a true fan? You are ruining the club, hope you are ashamed.

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    3. I smell Timmy

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  21. According to an article, by Simon Moore, on the 'fieldfisher' wesite, this tactic, used by the board, can be a harbinger of an ill wind heading in our direction.
    Moore states, "From a practical point of view, a Board will not normally send out anything other than a "normal" s 793 Notice unless it thinks the recipients are up to something subversive, but secret. The most probable timing for such a Notice will be when some controversial resolutions are pending. In that likely scenario, it is also very likely that the Board would not only like the recipients to be disenfranchised, but will have that as its predominant motive."

    And,"It is usually used by companies who wish to track unusual movements in their register, typically in the context of a possible stake building exercise or takeover,"

    And, "The Act also contains extensive provisions about agreements or arrangements between different people relating to stake building so that a company is not ambushed by several, apparently unconnected, shareholders building up a secret stake "in concert" with each other, typically through nominees. A failure to respond to a s793 request enables the company to "block" the shares in question, preventing the shareholder from voting or transferring its shares, until the answers are provided."

    I'd post a link, but not sure if they are allowed on this website. If you google this,
    'fieldfisher, blocking a company's shares, how to respond' and select the top link from the menu, you should find the full article.
    C'mon the Gers!

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  22. That man earlier was spot on, in king I want to trust but he has lied so many times to us, he said he would invest millions whether or not he got chairman Job , we seen interview after and he said everything hung on whether he got sfa approval, he is obviously an intelligent man to make the money he has but can't understand why he thinks rangers fans/football fans are so gullible, if you're going to lie don't do it on camera, small lies too, king hasn't seen game in 2 years as he lives in south Africa, 2 satellite channels show gers games there, don't trust king one bit but best we've got at the moment watp

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  23. There's something fishy going on here.

    Going back a bit the club had to provide information to the SFA as to who the beneficial owners of these shareholdings were.........the SFA were keen, bless, to make sure that Whyte, Green and the Interpol fugitive were not involved.

    Rangers provided the information and the SFA were happy with what information had been provided to them.

    So why the need to go down the same road again........is the club saying that they don't actually know who these people are despite already having supplied the SFA with the info?

    This could rebound on King big time......Bear in mind the interim football licence was only granted to the club on the basis that Whyte, King and Rizvi were not hiding behind any of these shareholdings.

    Looks like another attempt by King to divert attention from his lack of previously promised investment.........yes Dave, remember your pre EGM promises, we certainly do!


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  24. There are no merchandising negotiations ongoing with SD otherwise King via Level 5 would be telling the world.

    Negotiations about securing further investment from Ashley are definitely on the table, anything so that the Lying King doesn't have to spend any of his money....or is it his wife's or daughters money?

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  25. Ashley isn't daft, he's borderline crooked, all high street sports shops have shut down apart from jd and apparently Ashley has 15% interest in them which makes sense as this seasons shirt was 8 pounds more, wanna buy new away shirt but won't give the man a penny, reckon gers have pissed him off for approaching him over the sd deal that the money doesn't matter anymore.,he just wants to flex his muscles and prove a insignificant point. PS Ashley take 10% and you will make loads and I can stop trying to explain to my 5 and 8 year olds why I won't buy them new tops WATP

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  26. Yeah feel the pain too my man my boy was wanting a Nike football for birthday he seen it in sports direct window and couldn't understand why I didn't get him it for birthday but I got it off kitbag 2days late delivery 4quid more but watp he is only 10 so hard to explain to a kid but I'm bringing him up on principle, hate the manky mob but have loads of Celtic friends but still hate them, way it is, need to sort sd out soon, still 7 year rolling.

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  27. Going away from the immediate thoughts on the last question , 4000 were at the Easter road game and almost all were singing sectarian songs, 3 arrests?? We are gonna lose all identity the way it's going, I was singing and dancing all day glad I didn't get arrested ,got a few Celtic mates and they feel the same, it's banter keep it at 90 minutes and forget, don't wanna go to games with people shouting come on the blues or greens and shaking 60s rattles , keep singing true blues. Ps. Davie Cooper rip. Watp

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    Replies
    1. I agree 100% our traditions are being taken away from us.
      P.C gone mad ?

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  28. Hey fife45 loving your comments, not seen your comments on forum before, but you have good principles and in all this madness people forget it's just a game, felt sick seeing the cTwitters sent to the young lad and his family, welcome to this forum, nearly left twice, remember mo Johnston signing, get wee bit angry ok but leave it at that, sorry to Scott Allan but all football fans will have your back now, even football haters, in football fans we trust. PS. Fife45 walp

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  29. The truth is, only the fans can be trusted to look after our club. I would never trust any business man before the guy who goes to work to pay to support his team.
    We need fan ownership, after all any business needs LOYAL customers. We the fans should be in control as it's us who buy the merchandise and accomadate the match day catering and hospitality.

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  30. CELTIC 1 CARRIERBAG 0
    They would be better just singing danny boy at the Eurovision, probably get more points.

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  31. Fellow bears, can you tell me if it's still possible to buy a sb, my parents live in paisley. and need to or will be moving back home in the next 3 week's Ps cheers boys, will still try to get in at the gate. Watp

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  32. Puma have deal with sd and gers it's 400,000 shirt sales then we and sports direct get their share of profits we sold a lot less apparently gers and Ashley lost 40 grand each, not a huge loss but we used to sell half million shirts , so 4million lost again, at the least

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  33. Adidas,Nike,puma,mitre hope gola don't sponsor gers soon watp

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  34. Watp hate no one not even Maurice Johnsone

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  35. Don't want do dis rail the mighty, fan connection is 99% of the gers but where is kings war chest? We played some nice stuff in last hour against hibs but we will be found out next season but will do ok, 6th or 7th feel king has spent nowt and is on a freeroll and let off again, gers fans watp keep keeping on

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  36. Some logical comments made by normal football loving people, my grandad took me to Patrick thistle games in the late 70s and I was 7 then and my dad who said the firm where no good took me to st mirren matches but we all are where we are,hope Scott comes to gers and fully expect some dick to give me abuse if so cool Gtf watp

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  37. Some logical comments made by normal football loving people, my grandad took me to Patrick thistle games in the late 70s and I was 7 then and my dad who said the firm where no good took me to st mirren matches but we all are where we are,hope Scott comes to gers and fully expect some dick to give me abuse if so cool Gtf watp

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  38. To the anon fan with no brains yeah would have gave 34 quid to gers but not sure where the money would have ended up, bet you haven't even bought a shirt in your life, drink frosty Jack cider, come on here by accident thinking it was pof or I'm uglier than a zf5brick.com, this is a footie site PS hope you sleep in for the Jeremy kyle show. Watp

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  39. Anon 23.46
    Hey bhoy if I were you , thankfully I am not, I would be worrying about your own teams capabilities of beating (no idea who) in Europe, than concerning yourself over Rangers FC concerns!

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  40. King following delisting was delighted at the prospect and the additional freedom that the new board could operate under without intervention from Aim..........though it did fly in the face of his honesty and transparency claims.

    Now it's an attempt to relist on ISDX.............a complete turnaround from his recent position.

    Nothing to do with the fact that he's skint, completely forgotten his pre EGM and post EGM investment promises and needs a share issue to avoid another administration.

    Transparency, aye Dave, so transparent that many fans can now see right through your blatant lies and bluster.

    As for the red herring over the beneficial shareholders...............the club provided full details to the SFA a couple of years ago and Pinsent Mason did due diligence on behalf of the ruling body.

    What's changed...........have Green, Whyte, Rizvi, SDM, Ashley miraculously appeared as the beneficial owners, bearing in mind that the SFA could have revoked the football licence if some of these characters had been involved from the get go?

    Oh and the ISDX advisor company is 25% owned by a Lebanese company.............join the dots and see where they lead.
    Aim

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