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08/03/2010
Rangers Enters Ownership Talks
Board members at Rangers FC today confirmed talks had opened with interested parties regarding the selling off share capital.
The board said it understood discussions were at an early stage, and there can be no certainty that any offer will be made for the issued shares of the club.
Rangers has been in an offer period since its announcement of 26 October 2009.
This morning a club spokesman said: "Following press speculation over the weekend, the board of The Rangers Football Club plc confirms that it has been advised by Murray International Holdings Limited that MIH has entered into discussions with certain interested parties, including Andrew Ellis, about the interests of MIH in RFC that may lead to an offer or offers for the entire issued share capital of the club."
In order to ensure the complete independence of the assessment of the merits for Rangers of any possible offer, the board has set up an independent committee of the board comprising the Chairman Alastair Johnston, John McClelland, Martin Bain, Donald McIntyre and John Greig to consider the full implications of any future offer for the club.
"The Independent Directors will ensure that any possible offer for Rangers is assessed on the merits for the club, its shareholders and all other stakeholders in Rangers including supporters," said the spokesman.
"It is particularly important to the Independent Directors that any possible offeror is able to demonstrate the capacity and commitment to provide a stable and sustainable future for Rangers and the Independent Directors will want to understand fully the plans of any potential offeror in order to recommend the action that shareholders should take."
The Independent Directors exclude Mike McGill and Donald Muir who are connected to MIH, and so have a potential conflict of interest, and Dave King and Paul Murray about whose intentions there has been past speculation that could lead to a perception of a possible conflict of interest.
"The board will keep all shareholders informed of further developments," the spokesman added.
(PR/BMcC)
The board said it understood discussions were at an early stage, and there can be no certainty that any offer will be made for the issued shares of the club.
Rangers has been in an offer period since its announcement of 26 October 2009.
This morning a club spokesman said: "Following press speculation over the weekend, the board of The Rangers Football Club plc confirms that it has been advised by Murray International Holdings Limited that MIH has entered into discussions with certain interested parties, including Andrew Ellis, about the interests of MIH in RFC that may lead to an offer or offers for the entire issued share capital of the club."
In order to ensure the complete independence of the assessment of the merits for Rangers of any possible offer, the board has set up an independent committee of the board comprising the Chairman Alastair Johnston, John McClelland, Martin Bain, Donald McIntyre and John Greig to consider the full implications of any future offer for the club.
"The Independent Directors will ensure that any possible offer for Rangers is assessed on the merits for the club, its shareholders and all other stakeholders in Rangers including supporters," said the spokesman.
"It is particularly important to the Independent Directors that any possible offeror is able to demonstrate the capacity and commitment to provide a stable and sustainable future for Rangers and the Independent Directors will want to understand fully the plans of any potential offeror in order to recommend the action that shareholders should take."
The Independent Directors exclude Mike McGill and Donald Muir who are connected to MIH, and so have a potential conflict of interest, and Dave King and Paul Murray about whose intentions there has been past speculation that could lead to a perception of a possible conflict of interest.
"The board will keep all shareholders informed of further developments," the spokesman added.
(PR/BMcC)
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