For the hard of thinking yesterday’s Companies House announcement meant a £1m boost for the club. Like most events in and around Ibrox over the last few decades the reality is a little different.
The fact that the news came from Companies House rather than celebrated on the club website or whispered to one of their messengers is probably the biggest clue about the ‘£1m boost’.
When losses of £23.5m for the year to 30 June 2021 were announced in November the club was already well in to racking up fresh losses with an interest bearing loan repaid to a company linked with Dave King.
The good news stories about bumper fees for Mister Gerrard and his management team plus the Nathan Patterson windfall will be confirmed in the accounts to 30 June 2022. They may not be as high as hyped.
With money in the form of loans coming in from mystery investors the form of repayment appears to be in the form of shares. Shares that are likely to be diluted upto 10 times a year with further issues all at mythical figures such as 25p or 30p.
It seems that there is still a supply of mystery investors but having stopped Celtic win a 10th title and watched Mister Gerrard walk away the supply may be thinning out with the terms and conditions not as generous as previous loans.
2) Of the £7.5m, we know from the TRFC AR that £4.25m was received for Gerrard & staff. Assume the other £3.25m was loans. So, £11.75m total in loans since 30 June.
Today’s allotment means 23.4m shares have been allotted this year, or £5.85m. That excludes the Tifosy issue. pic.twitter.com/4Cv8QSqZiY
— GrandOLTeam (@JBLuvsCeltic) February 22, 2022
4) King had a £5m loan repaid. Bennett had £5.5m in loans repaid. There is a £5.25m, 6%, 7-year loan to 3 investors.
Some of the remaining loans may be repayable and will not be converted to shares. We won’t know until the next RIFC AR.
— GrandOLTeam (@JBLuvsCeltic) February 22, 2022
5) In conclusion, I expect more conversions of outstanding loans. There may also be some repayable loans.
Today’s allotment doesn’t signal impending doom for Rangers. Nor will further allotments in the near term. They’re just converting months-old loans. /END
— GrandOLTeam (@JBLuvsCeltic) February 22, 2022
Rangers have updated their shareholding following today’s 4m share allotment.
There was no change in any of the 3%+ holders listed there. So the 4m shares went to <3% holder(s).
It could be any of these guys, or someone new. We won’t know until the 2022 AR in October. pic.twitter.com/FMnRALYr6y
— GrandOLTeam (@JBLuvsCeltic) February 22, 2022
Come on now, you know why these are mystery investors. If they were demystified then it would be absolutely clear where the money is coming from and they definitely do not want the sources to be identified. This might compromise them.
Never seen or heard of so many staunch brothers with deep pockets not wanting adulation from fans “GASL” but want to keep in the shadows, mmmmmm why??