Dave King has told a select group of reporters that he doesn’t have a UK bank account and explained why he hasn’t complied with the Court of Session or Takeover Appeal Panel over a 20p offer to shareholders.
The South African based criminal has made a career out of avoiding the truth and playing by the same rules as every other individual.
King has avoided making an offer to shareholders out with his concert party for three years and has now reverted to the most basic of delaying tactics.
Explaining his contempt for UK regulations to his hand picked reporters wouldn’t be too difficult but having heard his excuses for three years the Takeover Appeal Panel won’t show any mercy on the South African based criminal.
King told the Daily Record: “About four weeks ago now, it got to a point where I agreed with the takeover panel that while I wouldn’t make a formal offer, one of my trust companies would make a formal offer.
“The takeover panel would accept the company offer as being from me personally, as they know that I would never make an offer.
“They accepted that, they asked for proof of funds which we gave them.
“They then asked for the funds to be ring fenced in a separate account, to make sure the funds could only be used for the purpose of the shares. We agreed to that.
“Then about two weeks ago, the takeover panel approached me again to say they were unhappy with the funds being in South Africa and would like them relocated to the UK to be held in sterling.
“I was happy to do that, but would have to open a bank account in the UK which I agreed to do.
“That, though, requires an extension of the period as I can’t get through the various processes in time to meet the deadline.
“They didn’t grant the extension.
“They have proof of funds in South Africa, but they wanted it relocated to the UK and that takes time, hence delay.
“It is important to stress that this is nothing to do with the football club, it makes no difference to the football club.
“This is an issue between myself and the shareholders of the holding company.
“It has nothing to do with the team and with funding.”
King knew from day one that South African funding wasn’t acceptable to the UK authorities.
As he scrambles for time the net is closing in on the glib and shameless liar with even his staunchest supporter, Paul Murray giving up on the Sevco savior.
