Rangers supporters’ group offers fans more chance to take part in share issue

Rangers are hoping to raise £6.75million through a share issue
Rangers are hoping to raise £6.75million through a share issue (PA Archive)
17:49pm, Mon 07 Jun 2021
CBAD8A00-D2B9-4E0E-ADDF-D0366C357A34 Created with sketchtool. E9A4AA46-7DC3-48B8-9CE2-D75274FB8967 Created with sketchtool. 65CCAE04-4748-4D0F-8696-A91D8EB3E7DC Created with sketchtool.

A Rangers supporters’ group is offering fans the chance to take part in the club’s share issue without having to put up the required £500 investment.

Ibrox chiefs announced last week they were hoping to raise up to £6.75million by handing rank-and-file members of the fanbase the opportunity to buy stock.

But the club will only allow those willing to invest between a minimum of £500 and a maximum of £100,000 to take part.

Fan group Follow Rangers fear that will price out many ordinary members of the Light Blues faithful.

Now they have struck an agreement with club bosses that will allow the organisation to gather together stakes as low as £10, which will be piled up into a larger lump sum.

These funds will then be used to buy up shares on behalf of the small-cash investors, who will then receive their own share certificate once the transaction is complete.

Follow Rangers director John McKee said: “The share issue is the first time since our return to the top of Scottish football that fans can easily buy shares in Rangers.

“However, we recognise that the entry level of £500 is a significant amount of money for many fans to commit at this time.

“At Follow Rangers we can facilitate people buying smaller amounts of shares, from as little as £10. It is important to note that any shares purchased will be put in the name of the person that has bought them.”

Shareholders will also be able to attend the club’s annual general meetings and to vote on resolutions put before the board.

The Follow Rangers scheme will charge a £5 joining fee but all other sums committed will go towards the purchase of shares.

McKee added: “We have been in dialogue with managing director Stewart Robertson and large shareholders. We are delighted at how helpful Rangers have been since the announcement was made.

“Stewart put us in touch with James Pollock of Tifosy and he has registered Follow Rangers to participate in the issue.”

Rangers say thousands of fans have already signed up to express an interest in investing.

Chairman Douglas Park said: “We have been overwhelmed by the response.

“We knew that there were a significant amount of people wanting to own shares in Rangers, but still we’ve been astonished by the number of people signing up. It is testament to the commitment and loyalty of our amazing fans.”

For more information on the Follow Rangers scheme, go to www.followrangers.com

Sign up to our newsletter