An expensive lack of coordination?

If this was a military operation then it was very badly executed.

That was the assessment of my Square Mile guy today when I called him about the latest episode in this shambolic farce at Ibrox.

He told me that if the Three Bears and David Cunningham King have moved in concert then they would have got more shares for their money.

The furry chaps bumped the price up from 18p (they offered Laxey 20p and they happily accepted) when they bought 14.33%.

It is worth remembering that Mr George Taylor  already had a small shareholding before this.

Now Mr King’s family has bought shares from Artemis and Milton and now they have 14.57%.

If the King clan  bought the 11,869,505 shares for 23.5 (current market price) then that cost them £2,789,334.

When I told them that one the Bear fellows was a known associate of Mr David Cunningham King then he was even more puzzled.

None of this behaviour made any sense to my Square Mile guy.

With a combined shareholding of 34% Mr King and Bear Trio could  work together to call and EGM.

Of course at time of writing after all of this RIFC does not have extra penny towards the wage bill due on the 22nd of this month, less than three weeks.

He reminded me that now Blue Pitch Holdings and Margarita Holdings can have a major say in what happens next.

It remains to be seen if these shy offshore types will side with the new guys.

What is beyond dispute is that the company desperately needs a fresh tranche of working capital ASAP.

Whoever gives that is in the driving seat.

Today The People are ecstatic they believe they have been delivered from wherever it was they were when they were unhappy.

They’re almost as happy as when they cheered Craig Whyte down Edmiston Drive in May 2011.

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