Rangers: Sandy Easdale increases stake

Rangers have announced a significant purchase of shares by new football board director Sandy Easdale.

Sandy Easdale: On football board. Picture: SNS

Easdale, who was appointed to the football board on Saturday but is not a member of the PLC board which is at the centre of a power struggle, now has a shareholding of 4.37 per cent, according to a statement made to the London Stock Exchange.

The statement read: “The company announces that it was notified today, 17 September 2013, that on 10 September Alexander (Sandy) Easdale acquired 2,125,000 ordinary shares of one pence each in the company.

“Following the acquisition, Mr Easdale holds 2,842,957 ordinary shares.” Last month the Greenock-based businessman claimed to hold the largest shareholding at Rangers after securing a “binding agreement” to buy the shares of former chief executive Charles Green. Easdale’s brother, James, is on the PLC board.

In a statement on 30 August, Easdale – who runs his various business interests alongside brother James, including McGill’s Buses – said: “There has been continued speculation and constant inquiries to buy this largest holding in Rangers but Mr Green gave me the first option which I exercised. Between my family holdings and through other supporting investors I now have the largest shareholding in Rangers Football Club.”

Earlier in August, Rangers announced to the Stock Exchange that Isle of Man-based investment firm Laxey Partners had increased its shareholding to 6.53 per cent.