Sevco Thread

[fine-n-dandy]

[Henry]

Rangers have agreed an out of court settlement with former commercial director Imran Ahmad, who was suing the club for breach of contract.

Ahmad last week won the right to arrest £620,000 from the club's bank account pending the court case in light of their ongoing financial difficulties.

Rangers were given leave to appeal that Court of Session decision with their case due to be heard in two months, but they announced an imminent end to the case in a statement to the London Stock Exchange on Friday morning.

Ahmad had claimed he was owed £500,000 in unpaid bonuses from Rangers.

The statement read: "Rangers have agreed formal terms of settlement with former commercial director Imran Ahmad regarding his current court action.

"The sum agreed is significantly less than the total amount which Mr Ahmad had been granted permission to arrest.

"As part of the settlement terms Mr Ahmad has agreed to refrain from arresting funds in Rangers' bank account or in the hands of others pending the formal removal of the case from court.

"No such arrestment will now take place. The case will be formally taken out of court in the next few days."

[Pudgie]

Win win.

 

It was either a large enough amount for Imran to accept, couldn't be that far from £500k in that case, or he was never going to get it in the first place and they've paid out dough unnecessarily.

[Clydeside_Sheep]

Win win.

 

It was either a large enough amount for Imran to accept, couldn't be that far from £500k in that case, or he was never going to get it in the first place and they've paid out dough unnecessarily.

 

Aye its probably the whole bonus amount, but the plastic-huns are escaping needing to pay legal fees, for both themselves and Imran.

[Dynamo]

Seems strange settling out of court for something they weren't due money for

[The Boofon]

Their hero Ian Paisley is deid.

 

Good riddance.

[StandFree1982]

Their hero Ian Paisley is deid.

 

Good riddance.

Just another ploy from the BT camp to gain more votes.

[StandFree1982]

Fucking snakes. A dangerous and, i'd imagine, not a very pleasurable practise.

[Clydeside_Sheep]

Well, thats the share issue closed as of 11am. A dismal failure I expect

 

Mike Ashley didnt take part

 

http://www.heraldscotland.com/sport/football/mike-ashley-i-am-not-buying-rangers.1410514962

[dervish]

http://www.bbc.co.uk/sport/0/football/29180677

 

 

Rangers raise more than £3m from share issue

Rangers International Football Club plc have revealed they have raised £3.13m from a share issue.

The Ibrox outfit were hoping to raise £4m after almost 20 million new shares were made available to existing shareholders at the end of August.

But, having sold 15,667,860 shares, Rangers surpassed the minimum amount of sales required.

The share issue was intended to provide short-term working capital as well as part repayment for loans.

Last month, Rangers said that if the minimum level of £3m was raised from the share issue, which closed on Friday, they would then have to raise additional working capital by the end of the calendar year.

The board intends to seek permission from shareholders at this year's annual meeting to allow them to raise further funds from a wider share issue.

 

Black Friday. I fully suspect at least £2 million of it is actually handing over shares instead of paying of the £1.5m debts.

[RUL]

Seems fairly positive no?

[dervish]

http://www.philmacgiollabhain.ie/nuisance-value/#more-5072

 

£3.13m - £350k (to Mr Ahmed) - £1.7m loan = £1.1m = 1 months pay.

[newcastlered]

Ashley has his hands tied until he sells Newcastle. But since he's had Newcastle on sale since whenever they got relegated so bye bye Rangers.

[RTYD]

£3M + raised, but it's to pay current debts and commitments.

[StandFree1982]

I still can't get my head around how a Football club can "lose" £20+million playing against part time clubs who's players have full time jobs as bakers, or policemen etc. If they were a "normal" business, they would have gone down the pan a very long time ago. It's because of their supporters that they have managed to raise all this cash.

[Dandyesque]

Fingers crossed Sneck can do them tonight.

 

Take another half a million or so off their income for the season...

[lukas989]

Currently at Ibrox in the caley end...Mon you invernessian cunts!!

[Tord31]

attendance?

[fine-n-dandy]

attendance?

Yes he is there. He said so

[reekie_dock]

Judging by pics on bbc sport it looks as there may be a few empty seats in Snake Mountain...................

[tutankamun]

[NorthernLights24]

 

 

[lukas989]

A smattering at most. Wait till you see the moshni fuck up... Deary fucking me...

[Tord31]

15,000 crowd

[Bebo]

1-0 tribute act

[lukas989]

Still think caley can pinch this

[strachanmcgheegoal]

Typical Hughes and people oh his ilk. Let's go to Ibrox and see if we can undeservedly knick something against the odds.

[Tommy]

His talk of the huns being favourites got through

to his team's heads.

[lukas989]

They were negative as fuck. Dummies.

[tup]

The highland huns bow down to their southern brethren.