Rangers issue thousands more new shares - Kieran Maguire
Football finance expert Kieran Maguire has shared a new document Rangers have uploaded to Companies House that shows yet more shares have been issued at Ibrox.
Writing on his personal Twitter account on Tuesday, Maguire reported that 216,985 new shares have been issued, which takes the total to 390.6million.
The new batch of shares are priced at 20p each
Rangers issue another 216,985 shares taking the total issued to 390.6 million. pic.twitter.com/BXi0D8yoyS
— PriceOfFootball (@KieranMaguire) May 11, 2021
Shares, shares and more shares
Rangers are regularly issuing new shares every few weeks although this is one of the smallest share issues we’ve seen.
Last time, on April 19, the Gers issued 2.15million new shares, leaving financial guru Maguire a bit confused as to what is happening behind the scenes at Ibrox.
“Effectively every six to eight weeks, we’re seeing more shares being issued,” he said. “Sometimes it’s the existing lenders, who tend to be Rangers fans, saying, ‘you owe us a load of money but tell you what, don’t repay us, give us shares instead’.
“This most recent one, I think it’s Club 1872, who are a fan group who are trying to buy 25 per cent of the club from the former chairman Dave King.
“They’re going through various fund-raising routines and trying to get fans to commit to pay a monthly amount and they can use this to buy more and more shares.”
Club 1872 are still in the process of buying King’s shares but the fan group hasn’t posted anything on their Twitter account or website amid this latest share issue, which suggests it might not be anything to do with them.
It could be what Maguire eluded to in that Rangers fans are seeking more shares rather than their money back.
We’ll see how it all goes but there are people in the boardroom at Ibrox who know a lot more than what we do.
Celtic fans, on the other hands, will no doubt be crunching the numbers and predicting Admin 2 again.
In other Rangers news, this player could get his first-ever start for the Gers on Wednesday.