Ally McCoist buys more shares in Rangers

Rangers announced that several plc directors had increased their shareholdings - most significantly James Easdale, who purchased 215,606 of the 20p shares.

The Ibrox board had set a minimum target of selling 15million shares and exceeded that by 667,860.

McCoist - who already owned over a million shares, giving him a stake of just under two per cent - said ahead of Tuesday night's League Cup tie with Inverness: "I did invest. Without going into too much detail, I just thought it was the right thing to do."

Asked if he had ploughed a "substantial" sum into the rights issue, he replied: "It depends how you would look on it as substantial. A few quid, yes."

The money raised through the rights issue should allow the cash-strapped Scottish Championship club to pay their September wage bill and therefore avoid a possible points deduction - and also appears to have lessened fears of another administration event.

But the Ibrox directors are still likely to seek new powers to raise even more money from fresh investors when the club's annual general meeting takes place later this year in a bid to solve their cash-flow crisis.

McCoist, though, was just relieved to hear the club would be safe for the time being.

"Obviously I am pleased," he said. "Anything that brings funds into the club when they are required has to be a good thing.

"As a squad, we have tried to distance ourselves from it because we have to focus on things we can alter and that is performances and results.

"We are all aware of the things that go on within the club at higher levels but I must admit that I'm thrilled with the way the boys have shut it all off and concentrated on winning games.

"I have spoken to [chief executive] Graham Wallace on Friday at the game and he was obviously pleased. I spoke to him again on Saturday and I'm very, very comfortable with the fact that if Graham needs to tell me anything, I will be reliably informed."

Rangers prepared for Tuesday night's second-round clash with Caley Thistle by putting on what McCoist felt was his side's best display of the season.

Raith Rovers were beaten 4-0 at Stark's Park on Friday, and the Light Blues' confidence levels were only increased when John Hughes' men were toppled from the Premiership summit after losing 3-1 to Partick on Saturday.

The sides last met two years ago just months after Rangers were forced to start again in the Third Division after being liquidated.

The Highlanders cruised to a 3-0 win in Glasgow that time but McCoist said: "I think we are better team than we were back then.

"I'm not getting carried away, where we want to go we will need to make massive improvements.

"Inverness did beat us comfortably at home that night but the round before we beat Motherwell quite comfortably, so for those two reasons I wouldn't read too much into tomorrow's result about where we currently are.

"In cup competitions, though, anything can happen at any time and there is a real excitement in our dressing room know. I can certainly feel that."

Nicky Clark should feature after McCoist revealed the striker had shaken off a hamstring strain which forced him to limp off against Rovers, but Kenny Miller is still out with a calf strain.

However, the manager has no fears about Kris Boyd's form, despite the former Scotland hitman missing four decent chances to break his league duck in Friday's Fife win.

He said: "Boydy is obviously frustrated that he never scored on Friday night.

"But I can obviously relate to where he was more than anybody, as you are probably aware.

"I would be concerned if the big fella wasn't getting on the end of things or if we weren't creating chances. But we have scored more goals than any team in the country, so it would be unfair for me to start criticising Kris Boyd rather than complementing the rest of the goal scorers.

"Kris fancies himself as one of the best finishers in the country and I would find that pretty difficult to argue with."