Rangers FC (#RFC) - rejects the offer to inject £20m at 20p from Robert Sarver
- 2015-01-12 01:13:05
UK 10:44 Wednesday, 7 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Having earlier this week announced a possible offer approach from American financier and basketball teams owner Robert Sarver and that a further announcement was “expected shortly”, both Rangers (RFC) and Sarver have made further announcements – the former rejecting the initial approach and the latter explaining his interest and now making a revised proposal…
I previously concluded early last month on Rangers International Football Club (RFC) that the foundations looked to remain not those of a solid investment proposition. The following updates after announcements today of a possible offer and up to £0.5 million credit facility.
At 6:34pm on Thursday of last week Rangers International Football Club (RFC) announced financial results that its Chairman David Somers reckoned “reflect important progress in re-establishing a strong and self-sustaining Rangers Football Club”. Why then release them at ‘no one watching o’clock’? The following reviews.
Having earlier this month received a notice from Mike Ashley (the Sports Direct founder and a shareholder in the company) requiring it to call a General Meeting with resolutions for the removal of CEO Graham Wallace and fellow director Philip Nash, Rangers International Football Club plc (RFC) announced on Friday that Nash had resigned and has now announced that it has agreed a £2 million credit facility with Ashley and that Wallace has also resigned. The following updates on these further additions to the extraordinary goings on since the company’s 2012 AIM admission.
Rangers International Football Club plc (RFC) has announced that it has received a notice from Mike Ashley (the Sports Direct founder and a shareholder in the company) requiring it to call a General Meeting with resolutions for the removal of CEO Graham Wallace and fellow director Philip Nash. The following updates on a further addition to the extraordinary goings on since the company’s 2012 AIM admission.
Rangers International Football Club (RFC) has announced an open offer of up to 19,864,918 new shares at 20p each to raise up to £3.97 million before expenses (an estimated £3.6 million net) to purportedly “allow the company to start implementing the strategy to re-build and re-establish Rangers as a stable, sustainable and successful business to deliver both shareholder value and footballing success”. However, further reading reveals a continued dire financial position from a company which has already delivered an extraordinary litany of woe since its December 2012 AIM admission.
Rangers International Football Club (RFC) has announced that it “is considering a possible equity issue in which all existing shareholders would be eligible to participate. Support is being sought from institutional investors to underwrite the possible equity issue”. However, is this the whole story from a company which has delivered an extraordinary litany of woe since its December 2012 AIM admission?
Having considered in April whether the tale of woe at Rangers International Football Club (RFC) was set to continue, the company has this week announced that “Note 30 to the accounts for the 13 month period ended 30 June 2013 was incorrect to the extent that the options to which the share announcement on 1 July 2014 relate were not included”. The following updates on the latest developments of what has been an extraordinary litany of woe here.
Having been placed into administration and a CVA proposal having been voted down, the business and assets of the previous holding company of Scottish football club Rangers were acquired and on 19th December 2012 the new holding company, Rangers International Football Club (RFC), was brought to AIM at 70p per share. With the shares currently at 22p, this second piece (for the first, detailing an extraordinary litany of woe from the December 2012 AIM admission to this point, click HERE) reviews the current position following an announcement on Friday of a summary of the findings of a business review which has left a union of Rangers fan groups “absolutely appalled”.
Having been placed into administration and a CVA proposal having been voted down, the business and assets of the previous holding company of Scottish football club Rangers were acquired and on 19th December 2012 the new holding company, Rangers International Football Club (RFC), was brought to AIM at 70p per share. With the shares currently at 22p, this first piece details the extraordinary litany of woe from the December 2012 AIM admission to this point and a second reviews the current position following an announcement on Friday of a summary of the findings of a business review which has left a union of Rangers fan groups “absolutely appalled”.
