BRIAN Stockbridge, the former Rangers finance director, has received shares in the club of around £215,000 as part of an agreement made with former owner Charles Green.
In an announcement set to further enrange the Ibrox club’s beleaguered fans, the stock exchange received the news yesterday from the board as it emerged the 714,000 shares Stockbridge received, trading at 30p a share, was a result of a deal made with Green when he took over the club from Craig Whyte.
The current regime is understood to have been powerless to affect the transfer of shares to Stockbridge, who left Rangers in January after narrowly being re-elected to the board at the start of the year.
Stockbridge currently has a stake of the club of 1.1 per cent as a result of the deal.
The Rangers announcement said: “The New Ordinary Shares are being issued pursuant to an exercise of the options granted to Brian Stockbridge (a former Director of the Company) on admission of the Company’s shares to trading on AIM pursuant to Mr Stockbridge’s original contract of employment with The Rangers Football Club Limited dated 17 September 2012.”