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Robertson puts his trust in King

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Stewart Robertson has claimed that Dave King’s investment plan won’t be effected by the Takeover Appeal Board ruling that he must offer 20p for every share in the company.

Two years after his backdoor takeover of the company the Takeover Panel ruled that the South African based criminal was acting with a concert party and must offer 20p for every share after effectively purchasing more than 30% of the company.

King has fallen short on a number of promises such as having a share issue and finding a NOMAD to trade shares through but the biggest mystery is his investment plan.

Before taking power the son of a policeman from Castlemilk claimed that he would invest sums varying between £30m and £50m but so far not a penny has been put into the company.

Soft loans of £17m are due to be repaid in December, the last accounts had a going concern warning with the company also facing legal action on numerous fronts.

Keeping the lights on looks a tall order but despite the trail of broken promises Robertson believes that King will deliver the funds needed to challenge Celtic next season.

Speaking to Grant Russell of STV about the threat from the Takeover ruling Robbo said: “That situation is really something for Dave personally. Dave’s commitment is there in terms of investment in the club going forward, in terms of signings in the summer so there’s absolute clarity there that it’s still as it was before.”

For absolute clarity King requires to raise £7m to underwrite the offer and find a NOMAD prepared to risk their reputation with a man whose honesty was blown apart by the Takeover Board.

Unless the club part company with King the consequences will be much greater than a reduced war-chest for Brother Pedro.

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