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The £500,000 Blazer

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Should the equity collectives accept that their monthly contributions won’t go to increasing their shareholding but will be a significant part of the day to day working capital? Ricki Neill, one of the 23 candidates on offer to the 13,592 contributors to Rangers First CIC, believes that they should. He also believes that RF CIC should provide a £500,000 loan to King’s board without so much as a promissory note. Does Mr Neill hope to be elected to the board of RIFC? Was his question at the AGM, on how he could help the board, prompted by King or Murray?

I posit that Mr Neill should not be re-elected. His wanton disregard for other people’s money should preclude him from an executive position. The underfunded coup d’etat by King’s concert party was predicated on lies.

Micromega, listed as  MMG:SJ on the Johannesburg Stock Exchange, has equity that recently tanked to a 52 week low of 8.2 ZAR. On prevailing exchange rates, the capital market value of this company is just under £41m. King’s holding of 63% of Micromega is held under the guise of his family trust, Friedshelf 1382 Pty. In addition he owns 13m preference shares. which is slightly more than 11.3% of the issued 114.9m capital. This equates to £30.5m. How much of this paper wealth has King traded to invest in Rangers? The answer is nothing whatsoever. He has absolutely no skin in the game.

King has nothing to lose. His shares were bought by a third party. If the entire enterprise collapsed, he would walk away unscathed. This is a real Rangers man who flies in on our dollar and does not even have the courtesy to attend one of our games. This is consistent with his Scottish youth when his father, who policed Ibrox, banned him from attending. He was encouraged to take up golf and earn his own pocket money by caddying and collecting balls ‘lost’ in deep rough for resale. He later became a handicap bandit.

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