Following press speculation over the weekend, the board of The Rangers Football
Club plc ("RFC") confirms that it has been advised by Murray International
Holdings Limited ("MIH") that MIH has entered into discussions with certain
interested parties, including Andrew Ellis, about the interests of MIH in RFC
that may lead to an offer or offers for the entire issued share capital of the
Club. The board of RFC understands that discussions are at an early stage and
there can be no certainty that any offer will be made for the issued shares of
RFC. RFC has been in an offer period since its announcement of 26 October 2009.
In order to ensure the complete independence of the assessment of the merits
for RFC of any possible offer, the board of RFC has set up an independent
committee of the board (the "Independent Directors") comprising the Chairman
Alastair Johnston, John McClelland, Martin Bain, Donald McIntyre and John Greig
to consider the full implications of any future offer for RFC. The Independent
Directors will ensure that any possible offer for RFC is assessed on the merits
for RFC, its shareholders and all other stakeholders in RFC including
supporters. It is particularly important to the Independent Directors that any
possible offeror is able to demonstrate the capacity and commitment to provide
a stable and sustainable future for RFC and the Independent Directors will want
to understand fully the plans of any potential offeror in order to recommend
the action that shareholders should take. The Independent Directors exclude
Mike McGill and Donald Muir (the enemy within) who are connected to MIH, and so have a potential
conflict of interest, and Dave King and Paul Murray about whose intentions
there has been past speculation that could lead to a perception of a possible
conflict of interest.
The board will keep all shareholders informed of further developments.
Contact:
Press Office, Rangers Football Club 0141 580 8606
(Mobile: 07899 948284)
The Independent Directors accept responsibility for the information contained
in this announcement and, to the best of their knowledge and belief (having
taken all reasonable care to ensure that such is the case) the information
contained in this announcement is in accordance with the facts and does not
omit anything likely to affect the import of such information.
Dealing Disclosure Requirements:
Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any
person is, or becomes, "interested" (directly or indirectly) in 1% or more of
any class of "relevant securities" of RFC, all "dealings" in any "relevant
securities" of RFC (including by means of an option in respect of, or a
derivative referenced to, any such "relevant securities") must be publicly
disclosed by no later than 3.30 pm (London time) on the London business day
following the date of the relevant transaction. This requirement will continue
until the date on which the offer becomes, or is declared, unconditional as to
acceptances, lapses or is otherwise withdrawn or on which the "offer period"
otherwise ends. If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire an "interest" in
"relevant securities" of RFC, they will be deemed to be a single person for the
purpose of Rule 8.3.
Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant
securities" of
RFCby any offeror, or by any of their respective "associates", must be
disclosed by no later than 12.00 noon (London time) on the London business day
following the date of the relevant transaction.
A disclosure table, giving details of the companies in whose "relevant securities"
"dealings" should be disclosed, and the number of such securities in issue, can
be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk.
"Interests in securities" arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of securities.
In particular, a person will be treated as having an "interest" by virtue of the
ownership or control of securities, or by virtue of any option in respect of, or
derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on the
Panel's website. If you are in any doubt as to whether or not you are required to
disclose a "dealing" under Rule 8, you should consult the Panel.
remember who broke the story first peeps
Club plc ("RFC") confirms that it has been advised by Murray International
Holdings Limited ("MIH") that MIH has entered into discussions with certain
interested parties, including Andrew Ellis, about the interests of MIH in RFC
that may lead to an offer or offers for the entire issued share capital of the
Club. The board of RFC understands that discussions are at an early stage and
there can be no certainty that any offer will be made for the issued shares of
RFC. RFC has been in an offer period since its announcement of 26 October 2009.
In order to ensure the complete independence of the assessment of the merits
for RFC of any possible offer, the board of RFC has set up an independent
committee of the board (the "Independent Directors") comprising the Chairman
Alastair Johnston, John McClelland, Martin Bain, Donald McIntyre and John Greig
to consider the full implications of any future offer for RFC. The Independent
Directors will ensure that any possible offer for RFC is assessed on the merits
for RFC, its shareholders and all other stakeholders in RFC including
supporters. It is particularly important to the Independent Directors that any
possible offeror is able to demonstrate the capacity and commitment to provide
a stable and sustainable future for RFC and the Independent Directors will want
to understand fully the plans of any potential offeror in order to recommend
the action that shareholders should take. The Independent Directors exclude
Mike McGill and Donald Muir (the enemy within) who are connected to MIH, and so have a potential
conflict of interest, and Dave King and Paul Murray about whose intentions
there has been past speculation that could lead to a perception of a possible
conflict of interest.
The board will keep all shareholders informed of further developments.
Contact:
Press Office, Rangers Football Club 0141 580 8606
(Mobile: 07899 948284)
The Independent Directors accept responsibility for the information contained
in this announcement and, to the best of their knowledge and belief (having
taken all reasonable care to ensure that such is the case) the information
contained in this announcement is in accordance with the facts and does not
omit anything likely to affect the import of such information.
Dealing Disclosure Requirements:
Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any
person is, or becomes, "interested" (directly or indirectly) in 1% or more of
any class of "relevant securities" of RFC, all "dealings" in any "relevant
securities" of RFC (including by means of an option in respect of, or a
derivative referenced to, any such "relevant securities") must be publicly
disclosed by no later than 3.30 pm (London time) on the London business day
following the date of the relevant transaction. This requirement will continue
until the date on which the offer becomes, or is declared, unconditional as to
acceptances, lapses or is otherwise withdrawn or on which the "offer period"
otherwise ends. If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire an "interest" in
"relevant securities" of RFC, they will be deemed to be a single person for the
purpose of Rule 8.3.
Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant
securities" of
RFCby any offeror, or by any of their respective "associates", must be
disclosed by no later than 12.00 noon (London time) on the London business day
following the date of the relevant transaction.
A disclosure table, giving details of the companies in whose "relevant securities"
"dealings" should be disclosed, and the number of such securities in issue, can
be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk.
"Interests in securities" arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of securities.
In particular, a person will be treated as having an "interest" by virtue of the
ownership or control of securities, or by virtue of any option in respect of, or
derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on the
Panel's website. If you are in any doubt as to whether or not you are required to
disclose a "dealing" under Rule 8, you should consult the Panel.
remember who broke the story first peeps