Dave King makes offer to buy out remaining Rangers shares
Rangers FC chairman Dave King arriving at Ibrox Park.
By Democrat reporter
Dave King has made a multi-million pound offer to buy out shares in Rangers which aren’t owned by him or the consortium he’s involved with.
The chairman was legally required to make an offer to purchase the rest of the shares because a consortium he was part of owned more than 30% when it took over 2015.
The 63-year-old Valeman agreed in December to make an offer and a deadline of January 25 was agreed.
Some shareholders, holding more than £11m in shares, have reiterated they do not intend to accept the offer while the other shares amount to almost £8m.
The valuation is based on King’s offer to buy the shares for 20p each. Shareholders have until 1pm on February 15 to accept or reject the offer.
It comes after a Court of Session contempt case in front of Lady Wolffe was halted after Mr King said he was committed to making the offer which is required under takeover rules.
The chairman previously tried to fight off pressure to buy the shares over cost fears.