Panicked Sevco respond to tweet from rebel blogger
The bizarre move came after a late afternoon tweet from Phil MacGiollaBhain which claimed: “Graham Wallace has a statement prepared and is ready to walk. Crisis meetings all day at Stalag Sevco. #Breaking.”
Later on he added: “For the avoidance of doubt: There was meeting today in Glasgow; Graham Wallace,Nash,Somers and an Easdale brother. Another meeting tonight.”
In a statement released to favoured media outlets shortly after 6pm Jack Irvine rubbished the story throwing in the unrelated fact that Wallace was watching an u-20 match tonight with Ally McCoist.
MacGiollaBhain and the now closed Rangers Tax Case blog have been setting the pace on the Ibrox cash crisis over the last few years unveiling a number of facts leading upto the administration and liquidation of the old club.
Despite sending out clear warnings to supporters about the motives of the main characters involved Rangers fans turned their anger on MacGiollaBhain while Dave Murray, Craig Whyte and Duff & Phelps put the club into liquidation.
The finances of Sevco have come under greater scrutiny since the club held their AGM before Christmas with Wallace warning that the club’s running costs couldn’t be justified in the top tier of Scottish football never mind the third.
Since then Financial Director Brian Stockbridge has left the club with Philip Nash hired on a consultancy basis to examine the clubs’ finances.
At the weekend one newspaper claimed that the club could be put in administration within a fortnight with tonight’s denial from Irvine highlighting how concerned the club is by speculation.
Over the last two days the AIM has recorded a number of sales of shares in Sevco with only one purchase with the shares trading at 25p after being launched 14 months ago at 70p.
Many of the original investors in Sevco have sold their shares although it’s believed that Ally McCoist retains around 1,000,000 shares bought for 1p each.