Rangers shareholders back proposals for £12.6m share offer

A general view of Ibrox ahead of the meeting. Picture: SNS Group
A general view of Ibrox ahead of the meeting. Picture: SNS Group
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Rangers shareholders have backed proposals for a £12.6 million share offer.

The decision came after a general meeting at Ibrox.

A statement from Rangers International Football Club plc read: “The company is pleased to announce that the resolution was resoundingly backed by shareholders with 84.4 per cent of shareholders who voted voting in favour of the resolution.

“This is a significant increase on the percentage who previously approved the principle of a non-pre-emptive share issue and is a welcome endorsement of the board’s decision to recommend the share issue to members.”

The vote comes as chairman Dave King remains in contravention of a Takeover Panel order to launch an £11million offer for the remainder of the club’s shares.

King claims he has not been able to move money into the United Kingdom because of banking regulations and remains locked in a legal dispute with the Takeover Panel with the next court date set for October.

The South African-based businessman is down to buy about 15 per cent of the newly-issued shares. Twelve other individuals or groups are also listed, including fans’ group Club 1872.