Rangers withdraw four shareholders’ rights

Rangers have withdrawn the rights of four shareholders for failing to provide ownership information. Picture: John Devlin
Rangers have withdrawn the rights of four shareholders for failing to provide ownership information. Picture: John Devlin
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RANGERS have withdrawn the rights of four club shareholders to vote, trade their stake or collect a dividend, according to reports.

According to the BBC, requests for information about who owns the stakes in the company were sent to shareholders, with four firms so far failing to respond.

Blue Pitch Holdings, Putney Holdings Limited, Norne Anstalt and ATP Investments Limited are the four companies, and until ownership details are provided, the shares the firms hold are effectively worthless.

The four groups hold shares amounting to 10.4 per cent of the company.

Ibrox chiefs are trying to ascertain who owns the 4,000,000 shares held by Blue Pitch, the 700,000 held by Putney Holdings, the 1,200,000 held by Norne Anstalt and the 2,600,000 held by ATP.

As far back as Charles Green’s takeover, Gers fans have been seeking detailed information on the owners of the shares, in particular Blue Pitch and those of Margarita Holdings - both among the original shareholders when Green’s consortium bought the assets and business of Rangers Football Club plc as it entered liquidation.

Margarita Holdings are not included in the company’s registered shareholders, but Blue Pitch, Putney Holdings, Norne Astalt and ATP failed to disclose more information when Ibrox directors contacted them for details of ownership under section 793 of the Companies Act (2006).

Providing false information under the terms of the Act is a criminal offence.

Ibrox directors have the right to withdraw a number of privileges afford to shareholders if ownership information is not disclosed.

All four shareholders have been made aware of the decision and the restrictions will remain in place until the relevant details are provided.