Revealed: Rangers takeover could be worth £112m as paperwork filed
The latest share issue at Rangers values the club at just less than £112million, Football Insider analysis shows.
A Companies House submission on Tuesday (18 April) detailed the share issue, which saw 3m shares allotted at 25p each.
It is not known whether the £750,000 raised is fresh cash or the conversion of loans into equity.
Rangers have now issued nearly £4million worth of shares in 2023 alone.
The club converted £1.93m worth of shares into equity earlier this month, with Perron Investments Limited owner John Halstead - who now owns 5.4 per cent of the club - the main beneficiary.
That followed another share issue in February that saw cash invested directly – primarily by third-largest shareholder Stuart Gibson – as opposed to on a loans-to-equity basis.
The value of that share issue was £1.05m, taking the total raised this year to £3.73m.
Rangers now have 447,248,285 shares in circulation which at 25p each are worth £111.81m.
There were also tranches of share issues in January and February 2022.
Rangers posted their accounts for 2021-22 in November last year, revealing an operating profit of £5.9m on club-record turnover of £86.8m.
They are expected to be in the green once again in 2022-23 thanks to their participation in the Champions League, despite the fact they slumped out in the group stage without picking up a point.
The departures of Calvin Bassey, Joe Aribo and Cedric Itten for a combined total of around £28m last summer will also register in next year’s accounts.
The 2021-22 season was the last full financial year overseen by Douglas Park, who was replaced as chairman in the Rangers boardroom by John Bennett earlier this month.