Frankie 8,186 Posted October 11, 2012 Share Posted October 11, 2012 http://www.rangers.co.uk/news/headlines/item/2403-intention-to-float-on-aim RANGERS, the Scottish football club, today announces its intention to seek Admission to the AIM market of the London Stock Exchange. Rangers intends to raise up to £20million through an institutional investor placing and limited public offering. The funds raised will be used for strengthening the player squad, improving and developing the Clubâ??s properties and facilities, as well as providing additional working capital. It is anticipated that Admission will become effective before the end of the year. Since its formation in 1872, The Rangers Football Club has become one of the worldâ??s most successful clubs, having won 54 League titles, 33 Scottish Cups, 27 League Cups and the European Cup Winnersâ?? Cup in 1972. The Clubâ??s loyal and sizeable supporter base, both in Scotland and around the world, enables the Club to boast one of the highest percentages of season ticket holders in the UK, with over 36,000 having been sold for the current season. Playing at the 51,000 seater Ibrox Stadium, which is Scotlandâ??s only UEFA elite club stadium, and benefitting from the world class 38 acre Murray Park training facility, the Club has been a major force in Scottish football for decades. Fans and others interested in investing in the Club should register with Capita Registrars only. Details below. Commenting on the announcement Charles Green, Chief Executive of Rangers, said: â??From the time we acquired the business and assets of Rangers FC, we indicated our intention to list the Company and provide our fans with the opportunity to invest in their Club. I am delighted that our plans are coming to fruition. â??Rangers is debt-free and a huge club with enormous support and a 140 year track record of success on the domestic and international arenas. Our aim is to return the Club to its glory days whilst ensuring it is run efficiently and profitably.â? Malcolm Murray, Chairman, added: â??Charles has done a great job to bring the Club back from the brink of extinction. We now move on to the next stage which is full recovery and growth. The fans loyalty has been instrumental in getting the Club on its feet and the IPO gives them the chance to have a say on club matters.â? Shareholder Registration: Capita Registrars Fans and other interested parties can register their interest from 5pm today online at http://www.rangersshareoffer.com Our helpline will be open from 12pm today on +44 (0)871 6649 271. Bizarrely the website doesn't yet work. 0 Quote Link to post Share on other sites More sharing options...
andy steel 0 Posted October 11, 2012 Share Posted October 11, 2012 Is it usual to raise working capital from a share issue? Not as if you can do it over and over again. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,186 Posted October 11, 2012 Author Share Posted October 11, 2012 Is it usual to raise working capital from a share issue? Not as if you can do it over and over again. I'm not a business guru so I'll leave that to the more informed posters but I wonder how much of this money will be going to the initial investors. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted October 11, 2012 Share Posted October 11, 2012 I'm not a business guru so I'll leave that to the more informed posters but I wonder how much of this money will be going to the initial investors. Has Green not already said none of it? 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,186 Posted October 11, 2012 Author Share Posted October 11, 2012 Has Green not already said none of it? Not sure mate - have been out of the loop recently due to holidays and other issues... IIRC, he said something about the investors having to be paid back over the next ten years (£18million?) so they'll have to get their money some how. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted October 11, 2012 Share Posted October 11, 2012 Not sure mate - have been out of the loop recently due to holidays and other issues... IIRC, he said something about the investors having to be paid back over the next ten years (£18million?) so they'll have to get their money some how. Can't remember where I heard it, and I take everything Green says with a pinch of salt. I'm sure he said the original investors would recoup their money by the share price increasing, but I'm the same as you when it comes down to the fine detail. 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted October 11, 2012 Share Posted October 11, 2012 He's constantly stating it's going back into developing the team, the official site article there even says it. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,186 Posted October 11, 2012 Author Share Posted October 11, 2012 He's constantly stating it's going back into developing the team, the official site article there even says it. It also says it's going to working capital. How else do we pay back investors unless its by that method? 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted October 11, 2012 Share Posted October 11, 2012 It also says it's going to working capital. How else do we pay back investors unless its by that method? By share value increasing. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,186 Posted October 11, 2012 Author Share Posted October 11, 2012 By share value increasing. How likely is that to happen given by how much the oldco share price decreased over the last 10 years? 0 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.