Kieran Maguire confused by Rangers issuing 2.15million new shares
Rangers have issued a further 2.15 million shares at 20 pence each according to a document published on Companies House.
Football finance expert Kieran Maguire noted the update but is not certain what it means for the club.
It follows on from Rangers issuing 11million shares at the beginning of April [Maguire on Twitter] and could hint at fresh cash being injected into the club.
Rangers issue a further 2.15 million shares at 20 pence each. Uncertain if fresh cash or converting loans to shares pic.twitter.com/YO1fYp79Ry
— PriceOfFootball (@KieranMaguire) April 19, 2021
Maguire said, “Rangers issue a further 2.15 million shares at 20 pence each. Uncertain if fresh cash or converting loans to shares.”
Although Maguire is unsure of the intention behind the new shares, it is positive news for Rangers.
Fresh cash would mean more investment for Gers and although these shares only amount to £430,000, the club did issue £2.2million worth of shares at the beginning of the month.
Alternatively, the conversion of loans means we are getting rid of debt so the move is making us more financially sound.
This, combined with Monday’s announcement of the Sky Sports – SPFL deal [The Scottish Sun], means we are becoming a more financially sustainable club.
We welcome that given our not too distant history, and with talk of a European Super League we hope it will discourage the board from embarking on a new project – if we were ever invited to such a competition.
In the short term, this update gives us a small insight into the financial position of the club.
We appear to be in a healthy position and talk of new contracts for Glen Kamara and Conor Goldson also suggests we are heading in a positive direction.
Long may it continue.