Rangers: Dave King to make share offer via trust company

Rangers chairman Dave King
Dave King was ordered to make a 20p per share offer for the share capital not controlled by him and three partners

Rangers chairman Dave King says one of his trust companies will make an offer for the rest of the club's shareholding.

His move brings to an end his disputes with the Takeover Panel, which ruled he acted in concert with others when he bought a controlling share in 2015.

The South Africa-based businessman fought the decision, losing an appeal at the Court of Session on 28 February.

The bid for the remaining shares will total around £11m.

A statement from King said: "Supporters will be aware of the Takeover Panel's ruling last year that I must make an offer to the non-concert party minority shareholders of the Rangers International Football Club PLC.

"I have defended this ruling on the basis that any offer should not come from me but should be made by one of my trust companies.

"The Takeover Panel has relented to my request for which I am grateful. I confirm that tt will be announced today that one of my trust companies will now proceed and shall within a short period make a fully funded offer in compliance with the normal requirements of the Takeover Panel."

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