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1st Mar, 2018 | 7:00am

Rangers fans react on Twitter to reported Dave King development

Rangers chairman Dave King has lost his appeal at the Court of Session, according to a report, after breaching concert party rules when he and three other Ibrox investors collectively bought over 30% in the Glasgow giants.

According to the Daily Record, King will now need to make the offer to shareholders to buy 100% of the club.

King and Gers investors known as “the Three Bears” – George Letham, George Taylor and Douglas Park – bought a chunk of the Ibrox giants in 2014 and 2015 as they looked to usurp the existing board at Ibrox after several years of mismanagement.

Gers fans were finding the whole thing to be a complete waste of time with King ordered to offer 20p per share on shares valued at around 27p per share – with one fan saying it was 1-0 to King over the court.

Here are some of their comments on Twitter:

King and the Three Bears ousted the incumbent board backed and hand-chosen by Newcastle United owner Mike Ashley in early 2015 after an extraordinary general meeting was held.

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With a large swathe of Rangers’ shares held by fans for sentimental reasons over financial gain, the actual number of shares King will need to buy will almost certainly be nowhere near the maximum figure of £11million mentioned.

The Gers chairman has 30 days to make on offer to shareholders or risk being cold-shouldered by the Financial Conduct Authority.

In other Rangers news, Graeme Murty has revealed this Rangers star was angry and frustrated after the win over St. Johnstone

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