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Rangers fans get behind scheme for supporter control of Ibrox

ALMOST 500 fans have signed up to a scheme to buy a controlling stake in Rangers since the club launched a £4million share issue last month.

By: Paul Anderson Published: Tue, September 9, 2014

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Almost 500 fans are getting behind a scheme for supporter control of Ibrox [WILLIE VASS]

The fallen Glasgow giants admitted in a statement to the Stock Exchange it would not be able to pay creditors if it could not sell at least 15 million new shares.

That has sparked fears the 54-times Scottish champions could be heading back into administration.

Now Rangers First say they have seen an upsurge in fans backing efforts to put the club in the hands of the Ibrox faithful.

Backed by Supporters Direct Scotland, Rangers First have set up a similar scheme to the one used to rescue Hearts from their administration battle.

They now say the number of members volunteering monthly sums has risen to more than 1,400.

At current totals, the scheme is pulling in almost £32,500 a month and organisers revealed they will use some of that to take part in this month’s open offer.

SDS spokesman Richard Atkinson, who has been advising Rangers First, said: “We consulted the Rangers First members as soon as the news broke that a new share issue would be happening at the club.

It is clear that Rangers fans increasingly recognise that they, like fans of many other clubs, have the ability to take a real financial stake in the club that makes a difference in both financial and transparency terms

Richard Atkinson, SDS spokesman

“The members overwhelmingly wanted to help and authorised Rangers First to take up their pro-rata share options as well as apply for any excess available.

“Since that point, we are now closing in on having added 500 new members to the organisation.”

Around 7,500 supporters backed the Foundation of Hearts’ efforts to save the Tynecastle outfit and Rangers First have targeted membership levels of 20,000 with average monthly donations of just under £20.

They already own 130,000 shares, while another 20,000 have been gifted to them by existing stakeholders.

Atkinson added: “It is clear that Rangers fans increasingly recognise that they, like fans of many other clubs, have the ability to take a real financial stake in the club that makes a difference in both financial and transparency terms.”

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For any Rangers fans moaning that we don't have a voice, then moan no more get involved and before you know it a voice we will have.

1734 and counting atm all pulling together, subscriptions of approx 35k a month for the purchase of shares to gain a voice, a fiver gets you in bears.

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Are the shares bought through Rangers first lodged in the investor's name? Does the individual hold the voting rights on the shares they purchase?

The Shares are held by Rangers First the organisation - as a CIC it has a thing called an asset lock, which in practice means that the shares can never be taken out or sold and will always be there to benefit The Rangers Community.

Each member has an equal vote regardless of how much they have put in. RF is one member one vote.

GM

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Are the shares bought through Rangers first lodged in the investor's name? Does the individual hold the voting rights on the shares they purchase?

If you want to own the shares and the voting rights, consider simply buying your own. It's not difficult...

http://www.halifax.co.uk/sharedealing/our-accounts/regular-investing/default.asp

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Yes, a few shares and paying into RF each month is the way forward. It's been unfortunate that this important initiative was drowned out by all the other bad news and infighting. Glad to see it is having a spurt of new members. Time to stop moaning about others not buying shares, and do it ourselves.

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What I done exactly, I got 714 in the first issue, 100 quid got me 500 just there, and the 18.72 Rangers first, as you say it all helps.

Why are you giving a 3rd party £18 to buy shares which you will never see and never control, when that £18 would have got you 90 shares of your own which you would own and control.

You can always give RF your proxy, then take it back when they misuse it. :pipe:

I just don't get it.

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I am with GB on this one. Buy your own shares and proxy those rights to RF. That way they still have the combined voting rights, but you own your shares and can remove the proxy at will. This still gives you some leeway in case you become unhappy with RF

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GB, you raise a very valid point, which would be the sensible thing to do if everyone was organised. But we are not, and some people are lazy and would not buy the shares regularly. I am motivated to do what you suggest, but I'm not sure I would always do it. Setting up my 18.72 to RF is easy, and makes sure I do my bit.

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Why are you giving a 3rd party £18 to buy shares which you will never see and never control, when that £18 would have got you 90 shares of your own which you would own and control.

You can always give RF your proxy, then take it back when they misuse it. :pipe:

I just don't get it.

I already have my shares, somewhere along the line you have to trust people ( ive bought untold from your good self, and gifted items) I just like to think I am doing my little bit for our club.

You do a fantastic job beating the drum for Erskine and i will always lend a hand there.

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GB, you raise a very valid point, which would be the sensible thing to do if everyone was organised. But we are not, and some people are lazy and would not buy the shares regularly. I am motivated to do what you suggest, but I'm not sure I would always do it. Setting up my 18.72 to RF is easy, and makes sure I do my bit.

Check the link I posted.

http://www.halifax.c...ing/default.asp

You simply open a sharedealing account with your own bank, and set up a £20 DD on it.

Then each month, your bank take the £20, deduct a £2 admin fee, and then use the remaining £18 to buy as many shares as possible at the current price (that would be 90 shares at today's price)

So after a year you would have (let's assume fixed share price for simplicity)...

  • spent £240
  • bought 1080 shares
  • own those shares and have full rights over them
  • be able to sell those shares and get your £240 back if you needed it badly.

Oh and if we ever get back into profit, you'd even earn dividends on them! (tu)

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I already have my shares, somewhere along the line you have to trust people ( ive bought untold from your good self, and gifted items) I just like to think I am doing my little bit for our club.

You do a fantastic job beating the drum for Erskine and i will always lend a hand there.

The stuff I do has been in large part a response to seeing how badly everyone else is doing things. :sherlock:

IF RF or any of the other groups were even half as open and straight-talking as the Fund is, then we wouldn't be in the mess we're in today!

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