Sevco fan groups draw up different plans to save the new club
Shares are currently being dumped on the AIM at 25p as investors get what they can after splashing out 70p per share just over a year ago.
With a number of the original investors selling their 1p shares since the turn of the year it is a buyers market although no ‘high net worth blue-nose’ has yet to venture into the market. Not even Dave King.
Spurred on by the examples of supporter activity at Hearts and Dunfermline a meeting has been organised by Supporters Direct on Friday to start up a similar scheme for the Ibrox club.
Now two days before that the long standing Rangers Supporters Trust has announced that they have swelled their shareholding to 0.86% of the clumpany which is a similar shareholding to Ally McCoist.
Announcing their own ‘fan ownership’ to rival that from Supporters Direct, Trust supremo Gordon Dinnie said: “We started our direct debit scheme just before Christmas. If we can get enough interest going in that then we can buy shares on a monthly basis and build up our stake.
“We can also borrow against that money coming in and use it to buy more. James Easdale had just one more share in the club than the RST following the IPO (initial public offering), yet he was appointed to the board.
“If we get to five per cent, we would hold the right to call an AGM, and the things you are able to do increases as your stake goes up from that point.”
The move by the Trust comes as a direct result of the SD initiative directed by Celtic and Stirling Albion fan Paul Goodwin which has been given the backing of Alex Rae and Dick Gough.
Rae, who had over £500,000 paid into an EBT during his two seasons at Ibrox said: “When I go to Ibrox I hear the Rangers fans singing ‘Four men had a dream’ about the men who founded the club.
“Well the many thousands of Rangers Fans can now make that dream a reality again by gathering together with the single issue of collectively owning their club.