CLUB 1872 have completed a £250,000 share purchase to move through the five per cent Rangers shares threshold once again.
The supporter organisation saw their potentially defining agreement with Dave King fall through earlier this year after the former Ibrox chairman cited a lack of interest in the deal and pulled the plug.
But more than one million shares in RIFC plc have now been purchased from a private investor as Club 1872 - the ninth largest shareholders in Rangers - increased their stake in recent days.
A statement read: "Club 1872 can today announce the purchase of 1,250,000 shares from a private seller at the price of 20p per share for a total of £250,000. This represents a 20% discount on the price that shares are currently being issued by the RIFC Board and takes Club 1872 back above 5% shareholding in RIFC.
READ MORE: Rangers in Aberdeen and Police talks after Dons chants and bus damage
"Although RIFC has held three small share issues already in this calendar year, and although we remain in the process of trying to organise a meeting with the RIFC Board, Club 1872 has not been asked to participate.
"We were also not aware of the existence of these share issues prior to the detail being posted on Companies House. We cannot therefore provide any information to Contributors or the wider support at this time on the purpose of this fund raising.
"In the absence of shares being on offer from RIFC, the Club 1872 Board has been working hard to find avenues to continue to grow our shareholding and fulfil the core purpose of Club 1872 Shares CIC.
"We would like to thank the private seller for their support of Club 1872 and their wish to see their shares remain in the hands of supporters.
"The Board would also like to once again thank our Contributors for their dedication to Club 1872, which allows us to remain a major shareholder in RIFC.
"We would encourage all Rangers supporters to join Club 1872 in order to retain a crucial, major shareholder voice in the club we all love."
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereLast Updated:
Report this comment Cancel