Club 1872 funding | Club 1872 purchase more shares

[the gunslinger 3,366]

Club 1872 confirms £2.5m Rangers share issue target

Dear Member, Club 1872 is now in a position to update members and the wider support on our plan to provide funding to RIFC in the first half of 2021. Following discussions with the RIFC Board we can now confirm that a share issue will take place and that Club 1872 has been formally invited to participate at a pro rata level significantly higher than our current shareholding. Our aim, which has been agreed by the RIFC Board, is to provide up to £2.5m pounds to RIFC in return for shares at a price of 20p per share. If we are able to raise these funds, this will significantly raise our percentage shareholding in Rangers. It will also provide a much needed cash injection to Rangers following the impact of Covid on club revenues over the past season. We have until June 2021 to raise these funds and RIFC have asked us to provide a first tranche to the club in March. It will only be possible for us to provide this level of funding to Rangers if thousands of additional supporters now join Club 1872 over the coming days, weeks and months. We know that our loyal supporters have already dug deep financially this season through season ticket payments, merchandise and other initiatives. We also appreciate the difficult economic circumstances for many people during this pandemic. However, this is a huge opportunity not just to provide important funds to the club but also to ensure that supporters can protect Rangers forever from a repeat of the events of 2012. The only way to do that is to ensure that the supporters hold a significant shareholding in the club. Dave King has agreed to postpone his share purchase agreement with us until after these funds have been provided to RIFC. This agreement will resume after June 2021 but we thank him again for his flexibility and for putting Rangers Football Club  first, as always. Club 1872 is presenting this opportunity to the support in the hope that tens of thousands of supporters will now answer the call. Club 1872 is the only way for supporters to participate in this share issue. We are asking supporters to join Club 1872, through our legacy initiative or through one of our standard donation options, with the clarity that all of the share funds we raise between now and June 2021 will go direct to Rangers. This is the single best way for supporters to contribute to the future success of Rangers and the funds are required by the club. Club 1872

[the gunslinger 3,366]

Club 1872 is delighted to announce that following the result of our recent member poll on providing funds from Club 1872 Projects CIC towards the current RIFC share issue, Club 1872 has now purchased a further 2,150,000 shares in RIFC plc, directly from the company, at the cost of £430,000.

Club 1872 Director Laura Fawkes said:

“The Club 1872 Board would like to take this opportunity to thank our members for their regular donations and those in our membership and the wider support who made one-off donations towards our share issue campaign.

Even though tens of millions of pounds have been invested into the club over the last few years, because of the incredible support of our membership we have been able to retain our position as a major shareholder while making a huge financial contribution to the rebuilding and ongoing development of the club. These funds have put more shares into the hands of Rangers supporters and will allow Club 1872 to continue assisting the club as it goes from strength to strength.

The rebuilding process which led to our momentous 55th league victory was made possible by the commitment of supporters and investors and while Club 1872 is proud to have contributed significant sums to support the recovery, we are of course mindful of the damaging events of the past and remain committed to ensuring they are never repeated.

Fans across the world have provided incredible, direct financial support to the club, but Club 1872 is the only viable vehicle to ensure that supporters retain an essential influence at a shareholder level. The events of this week across European football have once again shown how crucial it is for supporters to have a signficant say in the running of their football clubs.

The RIFC Board has offered Club 1872 the opportunity to purchase more shares in the coming months and, based on that commitment, members' donations will continue to support the club as it builds on the success of this season and deals with the ongoing financial impact of the Covid-19 pandemic.

We would encourage our members to urge family and friends to join Club 1872 as our legacy campaign progresses over the coming months. We need thousands more Rangers fans to join to help us meet our fundraising target of £2.5m for Rangers by June 2021."

Club 1872

[RANGERRAB 3,255]

Good news by looks of things. Perhaps even more so following yesterday’s ESL news where fan involvement in clubs may become mandatory 

[Bill 13,717]

I'm delighted the money has gone to the club. The rest is utter windbaggery.

[Bluedell 5,329]

Total shares			390,441,872
King			65,422,893	16.76%
Park			52,550,000	13.46%
Gibson			40,000,000	10.24%
Taylor			39,074,998	10.01%
Wolhardt			31,110,480	7.97%
AN Other			20,000,000	5.12%
C1872			19,602,838	5.02%
Letham			17,274,516	4.42%
Bennett			16,800,000	4.30%
Scott			15,145,000	3.88%
Spivs			8,500,000	2.18%
				83.36%

 

The AN Other was the purchase of 20m shares 11 days ago, but I'm not sure who that was.

[Bill 13,717]

1 minute ago, Bluedell said:

Total shares			390,441,872
King			65,422,893	16.76%
Park			52,550,000	13.46%
Gibson			40,000,000	10.24%
Taylor			39,074,998	10.01%
Wolhardt			31,110,480	7.97%
AN Other			20,000,000	5.12%
C1872			19,602,838	5.02%
Letham			17,274,516	4.42%
Bennett			16,800,000	4.30%
Scott			15,145,000	3.88%
Spivs			8,500,000	2.18%
				83.36%

 

The AN Other was the purchase of 20m shares 11 days ago, but I'm not sure who that was.

Out of interest, do you know if the 20,000,000 share purchase was a new allotment by the club or a purchase of existing shares from a current shareholder?

[Bluedell 5,329]

Just now, Bill said:

Out of interest, do you know if the 20,000,000 share purchase was a new allotment by the club or a purchase of existing shares from a current shareholder?

New allotment at 20p

[the gunslinger 3,366]

20 minutes ago, Bluedell said:

Total shares			390,441,872
King			65,422,893	16.76%
Park			52,550,000	13.46%
Gibson			40,000,000	10.24%
Taylor			39,074,998	10.01%
Wolhardt			31,110,480	7.97%
AN Other			20,000,000	5.12%
C1872			19,602,838	5.02%
Letham			17,274,516	4.42%
Bennett			16,800,000	4.30%
Scott			15,145,000	3.88%
Spivs			8,500,000	2.18%
				83.36%

 

The AN Other was the purchase of 20m shares 11 days ago, but I'm not sure who that was.

Spivs brilliant. Takes me back. 

[the gunslinger 3,366]

Would club 1872 have been part of the 20,000,000 perhaps?

[Bill 13,717]

24 minutes ago, Bluedell said:

New allotment at 20p

Which emphasises the jeopardy and lack of control in this strategy. An investment of £430,000 that should have increased the C1872 shareholding from 4.71% or 370,441,872 shares to 5.26% or372,591,872 shares is immediately reduced to 5.02% of 390,441,872 shares by an allotment to another shareholder. 

Edited April 20, 2021 by Bill