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.

Dave King. Picture: PA

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.