The Rangers Supporters Trust yesterday announced that they had increased their shareholding in the Ibrox club to over 2%, after purchasing 450,000 shares from Beaufort Nominees, previously controlled by Sandy Easdale. Rangers EGM is scheduled for March 6th at Ibrox Stadium.
Yesterday’s news means that the RST are now the 12th largest shareholder at the club and with proxy over additional shareholdings, currently control 3.8% of the voting power going into next months meeting.
RST Spokesman, Chris Graham, said “We have shifted our focus in recent weeks to gathering proxies but also to targeting shareholders who we believe are aligned with the board but may be willing to sell. Purchasing shares off the market only takes you so far and we wanted to try to make inroads into the opposition’s holding as well. This purchase is the culmination of two weeks of hard work on that front.”
“We are delighted to have secured what we believe will be over a 1% swing in favour of the nominee directors. None of this would have been possible without the fans who contribute to the RST and Buy Rangers. If they continue to join the RST in numbers and contribute to Buy Rangers then we will continue our efforts to reclaim our club.”
“Whilst not being complacent, we believe this is a decisive purchase. We also believe it signals the start of the breakup of the shareholder group that has aligned itself with this board through Sandy Easdale. There are clear signs that they know their time is up. We urge fans to continue to proxy shares and, even more importantly, continue to join the RST. With the fans help we can win this EGM and invest significant amounts directly into our club after the EGM.”