£17m pledged in Rangers share issue - Charles Green

RANGERS chief executive Charles Green has claimed that £17million has already been pledged in the club’s share issue.

• Rangers have received £17m in pledges - Green

• Ibrox chief promises fans will get their shares

Last week the Third Division club announced they were seeking admission to the Alternative Investment Market of the London Stock Exchange as they continue to re-align their finances following the liquidation of the ‘oldco’ club and the acquisition of its assets by Green’s consortium for a £5.5million in the summer.

Green has pledged to take up the slack in any shortfall in the club’s proposed £20million share issue.

The Ibrox chief executive has now revealed the level of interest in the share issue among supporters, and insists any fans who back up their promise are guaranteed shares.

Green told the Daily Express: “It’s been very encouraging and I’m now seeing the passion and commitment of Rangers fans financially. We see it on the terraces, of course, but in these difficult financial times the response has been amazing.

“In the last figures I saw a couple of days ago over 8,000 fans had registered, with some 20,000 fans on the website, and we have pledges of around £17million.

“And by the time we get to the cut-off date that figure will have risen.

“I would like to stress that any fan who backs up his or her pledge with a cheque will get their shares. I have had some calls from people concerned about that because we said the IPO would be up to £20m, but fans will get their shares.”

Green added: “It’s much better than I expected. I don’t think anyone could have predicted the response and it’s testimony to what Rangers fans are about. They can see the club is going in the right direction and this really is the icing on the cake.”