Dave King is hoping to agree a deal at the Court of Session in order to escape his Contempt charge.
Amazingly the South African based criminal has claimed that the Easdale brothers didn’t wish to take up the offer of 20p on largely worthless shares likely to be further diluted.
A South African judge once described the 63-year-old as a glib and shameless liar.
King was in the dock today to answer questions on almost four years of defying the law of the land by not making an offer to shareholders outwith his concert party.
Towards new year 2015 the Sevco chief was completing his plan to buy up shares in the troubled club in tandem with the so-called three bears.
Had King kept their shareholding below 30% he could still have taken control of Ibrox but despite warnings he went through that threshold.
Covering today’s events for Scottish Football Monitor easyjambo reported:
Lady Wolffe is receptive to King purging his contempt by making an offer. King has accepted that he will proceed with an offer on his return to SA.
He has agreed that he will make an new exchange control application and seek to appoint a cash confirmed. He thinks it will still take six weeks or so.
King is still in the witness box being questioned by Mitchell.
Coffee break time.
He added
King is hopeful of negotiating a reduced cash sum with TOP because of the irrevocable undertakings not to sell.
Sandy Easdale and Glenmuir have indicated to King that they probably won’t sell but won’t give an undertaking on that basis.
There remains some uncertainty on the position of the restricted shares (BPH etc.) and those held by Beaufort Nominees (in administration) because of potential criminality and money laundering concerns.
The hearing continues this afternoon.
