Laxey Partners have sold their 16.32% to the Park, Taylor & Letham consortium

[Steve1872 4]

A group proposing to invest in Rangers have become the club's biggest shareholders.Members of the "Three Bears" consortium have bought out Laxey Partners' entire 16.32% shareholding in Rangers International Football Club plc, with over 13 million shares changing hands at 20p on Wednesday morning.

The group behind the purchase consists of George Letham, Douglas Park and George Taylor.

They recently offered a £6.5m cash bail-out in return for shares and board representation, making their offer based on a proposed issue of 40,739,000 new shares to existing shareholders, which was due to take place in January.

However the three have now made an unexpected power grab ahead of that issue, with the Rangers board yet to decide whether to accept their initial offer.

STV understands Laxey Partners made the decision to sell in the hope the group would provide strong opposition to Mike Ashley, who was recently thwarted by the Scottish FA in his attempt to increase his shareholding to 29.9%.

The governing body's rules regarding dual interests in club led to the move being voted down by their board.

Rangers have publicly stated their need to raise £8m in fresh capital to be able to fund their operating costs in 2015.

Letham had previously loaned Rangers £1m in March to plug a short-term funding gap.

http://sport.stv.tv/football/clubs/rangers/305078-three-bears-consortium-buys-significant-shareholding-in-rangers/

[Zappa 0]

The GreenCo/BPH/Easdale block won't be happy about this.

[colinstein 294]

Might just be advantageous to have the Easdales 6% (?) voting with them

[Tannochsidebear 2,429]

1. So this 16% purchase, coupled with the 3.2% already owned by Taylor gives them almost 20%. With individual fans and the fans groups owning around 10%, I am hoping this now secures the safety of our assets as they need 75% to sell off Auchenhowie or Ibrox.

 

2. Finally the penny seems to have dropped that the only way to win this war is by buying shares, something I have been saying for quite some time now, and I repeated on here just the other day. Now they have enough shares to demand a seat on the board, and it may encourage other shareholding parties to either sell to them or side with them.

 

It would seem finally some news worthy of cheer in yet another annus horribilus for Bears. Could 2015 see the dawn of a new era, or just a continuation of a bloody war with the team and it's supporters the biggest losers?

 

Onwards and upwards Bears, and have a guid Hogmanay!

[colinstein 294]

The downside is the money goes to Laxey. A new share issue would mean the club got the dosh

[Zappa 0]

The downside is the money goes to Laxey. A new share issue would mean the club got the dosh

 

The 16.32% has only cost the consortium about £2.66 million, so the money going to Laxey is less than what our directors 'borrowed' from Ashley recently and frittered away in 2 months.

[the gunslinger 3,366]

Originally Posted by govan_derriere View Post

Hearing a strong rumour that Artemis shareholding could follow Laxey.

 

on ff

[the gunslinger 3,366]

The downside is the money goes to Laxey. A new share issue would mean the club got the dosh

 

they get in get control and then have a share issue allowing king to invest and lots of money goes to rangers.

[rbr 1,266]

Quite a large uptake in @Rangersfirst memberships today , upto 2099 members and thats before the offline media push thats coming up in January .Just for the avoidance of doubt the money for this new member push has been raised through donations and is totally separate to the rangersfirst membership money ok

[the gunslinger 3,366]

Quite a large uptake in @Rangersfirst memberships today , upto 2099 members and thats before the offline media push thats coming up in January .Just for the avoidance of doubt the money for this new member push has been raised through donations and is totally separate to the rangersfirst membership money ok

 

good news mate