Rangers board seek approval to issue more new shares at Ibrox
The Rangers board are seeking approval to issue more new shares with more funding sought at Ibrox this season, according to Four Lads Had a Dream.
It has been reported by the official club media partner that supporters and other shareholders can now face dilution should these changes be given the green light.
The news has come ahead of the much-anticipated annual AGM of the club on Tuesday 6 December, with many expecting a tough time for the board.
Writing in their latest blog post ahead of the annual AGM this morning, Four Lads shared the latest news coming out of the Ibrox boardroom.
“The board are seeking shareholder approval to issue new shares on a non-preemptive basis, meaning supporter and other shareholders can face dilution,” they wrote.
“With the majority of funding now coming by way of loans / interest-bearing debt, does the board have any plans to introduce any new or external investors?”
Funding.
The whole topic of new investment is certainly going to be very high on the agenda today.
Douglas Park appears to have turned down the idea of Kyle Fox buying a large group of shares and basically overtaking him and his little sidekicks, so that will no doubt come up.
With even more shares being made available, even more funding is being eyed, so where has all of the money gone? The Bears have just released record accounts, with next year’s set to be even better.
It will be interesting to see the route that is taken with the shareholders looking as though they will get the final say on anything before new shares are published.
Cashing in would be no issue with interest always sky-high at Ibrox, but more clarity will be sought, no doubt, especially with the AGM in a matter of hours.
All eyes will be on the club today.
In other Rangers news, this prolific goalscorer is “excited” by speculation linking him with a move to Ibrox in January.