Rangers make statement to the LSE

[GeneralCartmanLee 313]

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 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.

END

[BlueIsTheColour 35]

That's the news i was waiting for, now the serious business begins and the speculation ends.

Not convinced about Ellis' credentials though.

[caseyjones 3,009]

Already in the other thread.

[Antwilhar 4]

Is this not the same announcement we made to the LSE several months ago when we were talking to prospective buyers. A legal formality that we're required to do if we're talking to prospective buyers. Nothing Exciting!

[Orangeclement 570]

im more interested in the "other" bidder , who is he and whats his credentials ?

[GeneralCartmanLee 313]

Is this not the same announcement we made to the LSE several months ago when we were talking to prospective buyers. A legal formality that we're required to do if we're talking to prospective buyers. Nothing Exciting!

Yep after months of nothing this isn't exciting at all........

[caseyjones 3,009]

Is this not the same announcement we made to the LSE several months ago when we were talking to prospective buyers. A legal formality that we're required to do if we're talking to prospective buyers. Nothing Exciting!

Not with the name Andrew Ellis in it.

[OzGers 425]

obviously only early days but it is great to see that their is interest out there...heres hoping the new owners are in it for the right reasons and invest in the club to take it forward...

[BlueIsTheColour 35]

Is this not the same announcement we made to the LSE several months ago when we were talking to prospective buyers. A legal formality that we're required to do if we're talking to prospective buyers. Nothing Exciting!

That announcement was only made due to "intense speculation" with regards to the ownership of the club.

This announcement mentions the name of an interested party and an other unnamed party. Completely different from the earlier release.

[D'Artagnan 13,319]

Do you think Murray will entertain Ellis GLC given his previous track record ?

[Orangeclement 570]

Do you think Murray will entertain Ellis GLC given his previous track record ?

I would hope not , a disaster at QPR and barely lasted 6 months at Northampton would be rather worried if he came in tbh

[The_Monk 0]

At last some news. Hopefully now the interested parties will have more freedom to speak to the press/fans.

I hope this can also flush out the other intersted parties.

[caseyjones 3,009]

Do you think Murray will entertain Ellis GLC given his previous track record ?

If the money is right....yes.

[GeneralCartmanLee 313]

He seems to be entertaining him as he has had to announce they are in talks. It will be interesting to see what his plans are for Rangers because as you say his previous is far from inspiring. Although the clubs he was involved in previously were not in the same situation as us.

I am waiting to see hwta comes out these talks before making any judgements

[GeneralCartmanLee 313]

Do you think Murray will entertain Ellis GLC given his previous track record ?

If the money is right....yes.

He has turned down money before

[D'Artagnan 13,319]

He seems to be entertaining him as he has had to announce they are in talks. It will be interesting to see what his plans are for Rangers because as you say his previous is far from inspiring. Although the clubs he was involved in previously were not in the same situation as us.

I am waiting to see hwta comes out these talks before making any judgements

My concern is that as this drags on and on Murray may become less principled in who he sells to.

[gandhisflip 5]

He seems to be entertaining him as he has had to announce they are in talks. It will be interesting to see what his plans are for Rangers because as you say his previous is far from inspiring. Although the clubs he was involved in previously were not in the same situation as us.

I am waiting to see hwta comes out these talks before making any judgements

My concern is that as this drags on and on Murray may become less principled in who he sells to.

I think it's positive with the independant board formed for the review and the stated goals of ensuring that the offer is in the club's best interests.

I know a lot of these things are spin but at least it's there and there is something to hold them to account on. Whilst Johnston is a Murray man i don't imagine he is the type of guy who would like his name attached to a bad deal for Rangers.

CB - from what you know is the 2nd consortium more inspiring than this Ellis character?

[GeneralCartmanLee 313]

Another possibility d'art, it is wait and see time i'm afraid.....

[caseyjones 3,009]

Do you think Murray will entertain Ellis GLC given his previous track record ?

If the money is right....yes.

He has turned down money before

When? Are you talking about the London hotel

deal where he pulled out just prior to all the papers being signed?

[GeneralCartmanLee 313]

Yep.

I am sure your inside information will explain to me how this didn't happen

[caseyjones 3,009]

I have no inside information, however if it did happen, would there not have been a breach of LSE rules?

[GeneralCartmanLee 313]

nope

[Stu1993 101]

It is good to hear that there are more than just the one who are interested in buying us. Im sure the board will make the right choice on this one, they will have to.

[Blue Stars Bearette 1]

just hope if things progress he is the right guy for us

[caseyjones 3,009]

nope

Care to educate the uninitiated as to why not?