RANGERS INTERNATIONAL FOOTBALL CLUB PLC 12 January 2015
Rangers International Football Club plc
("Rangers", "RIFC" or the "Company")
Rejection of Possible Offer
The Board of Rangers has considered the revised possible offer from Robert Sarver (or a vehicle to be established and controlled by him) ("Mr Sarver") which Mr Sarver announced on 8 January.
The revised proposal by Mr Sarver was similar to his first proposal in the respect that it sought a placing of 100 million shares (to be priced at 20p in this proposal) ("Placing") which, would require the approval of shareholders (at least a 75% majority) at a general meeting. The Board of Rangers rejected the first proposal from Mr Sarver on 6 January on the basis that the Board felt it unlikely that the approval of shareholders holding sufficient shares would be forthcoming. Following receipt of the revised proposal from Mr Sarver, the Board has sought the views of a number of major shareholderson this revised proposal and has reached the same conclusion, namely that the resolution to approve the placing is unlikely to achieve the 75% majority required. Accordingly, once again, the Directors do not intend to hold the General Meeting which would be necessary to implement the revised proposal.
Ends
For further information please contact:
Rangers International Football Club plc | Tel: 0141 580 8647 |
David Somers | |
WH Ireland Limited | Tel: 020 7220 1666 |
Adrian Hadden / Paul Shackleton | |
Newgate Threadneedle | Tel: 020 7148 6143 |
Roddy Watt / Ed Treadwell |
This information is provided by RNS
|
distributed by
|
