Club 1872 say they once again have a five per cent share of Rangers after purchasing 1.25 million worth of shares from a private seller.
But they say the club have left them in the dark about the share issue currently widely on offer. Club 1872 had scheduled a meeting with Douglas Park after their previous agreement with the Ibrox board fell through but he has since resigned to be replaced by John Bennett. And the supporters' group say that rather than waiting for an update, they have purchased £250,000 worth of shares from a private seller, at a price 20 per cent cheaper than Rangers are offering.
A statement reads: "Club 1872 can today announce the purchase of 1,250,000 shares from a private seller at the price of 20p per share for a total of £250,000. This represents a 20% discount on the price that shares are currently being issued by the RIFC Board and takes Club 1872 back above 5% shareholding in RIFC.
"Although RIFC has held three small share issues already in this calendar year, and although we remain in the process of trying to organise a meeting with the RIFC Board, Club 1872 has not been asked to participate.
"We were also not aware of the existence of these share issues prior to the detail being posted on Companies House. We cannot therefore provide any information to Contributors or the wider support at this time on the purpose of this fund raising. In the absence of shares being on offer from RIFC, the Club 1872 Board has been working hard to find avenues to continue to grow our shareholding and fulfil the core purpose of Club 1872 Shares CIC. We would like to thank the private seller for their support of Club 1872 and their wish to see their shares remain in the hands of supporters.
"The Board would also like to once again thank our Contributors for their dedication to Club 1872, which allows us to remain a major shareholder in RIFC. We would encourage all Rangers supporters to join Club 1872 in order to retain a crucial, major shareholder voice in the club we all love."
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