Green thanks fans for share interest

RANGERS chief executive Charles Green has thanked fans for demonstrating their early support for plans for a share issue.

The Glasgow club announced on Thursday their intention to seek admission to the Alternative Investment Market of the London Stock Exchange in the hope of raising up to £20 million.

According to Rangers, funds raised will be used for “strengthening the player squad, improving and developing the club’s properties and providing additional working capital”.

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Green, who values the Ibrox club at £25-30m, hopes to complete their admission to the AIM next month

Green said: “By close of business last night [Friday], Capita, the company handling share registration, had received registrations of interest in buying shares which, on completion, would be a very significant step towards us achieving our objective. Although these are registrations of interest at this stage, we find this a very encouraging early response, particularly since the registration process had only been operative for 24 hours.

“This is an early indication of interest but I would like to thank fans for the support they have given the process so far and we are pleased that fans have the opportunity to invest in the club. I think this shows once again that Rangers are a big club with a big support.”

Green’s consortium purchased the business and assets of the club for £5.5million after “oldco” Rangers were consigned to liquidation in the summer after several months in administration.

He added: “Now we are a debt-free business there is every opportunity for the club to be run efficiently, effectively and successfully.”