Dave King buys 15 per cent share in Rangers

The Rangers power struggle has taken a fresh twist after the club announced David King has snapped up almost 15 per cent of the club.

Just two days after it was confirmed the Three Bears group had bought out the club’s biggest shareholder Laxey Partners, South Africa-based former oldco director King has now made his move.

A statement to the London Stock Exchange said: “The Company was informed on 2 January 2015 that New Oasis Investments Limited (“New Oasis”), a Company 100% owned by the Family Trust of Dave King, acquired 11,869,505 Ordinary Shares in the Company on 2 January 2015.

“Following the transaction, New Oasis will be interested in 11,869,505 Ordinary Shares in the Company, representing approximately 14.57% of the Issued Share Capital.”

Artemis Investment Management LLP - who have offices in Edinburgh - and the London-based Miton Group have both confirmed that they have handed King their shares.