5 Jan 2015 07:00
Rangers International Football Club plc
("Rangers", "RIFC" or the "Company")
Credit Facility of £0.5 million
The Company is pleased to announce that it has entered into a short term credit facility for up to £0.5m (the "Facility"). The Facility is being provided by Alexander Easdale, a shareholder in the Company and director of The Rangers Football Club Limited, the wholly owned subsidiary of RIFC. The Facility will be used by the Company for general working capital purposes over the next few days.
Alexander Easdale will make available to the Company up to £500,000 on a fee and interest free basis and it will be secured against the income from the sale of player announced on 2 January 2015.
Under the AIM Rules for Companies, the Facility is a related party transaction under Rule 13 of the AIM Rules. The Directors of Rangers, having taken advice from their nominated adviser, WH Ireland plc, believe that the terms of the Facility are fair and reasonable as far as shareholders are concerned.
Ends
For further information please contact:
Rangers International Football Club plc Tel: 0141 580 8647
David Somers
WH Ireland Limited Tel: 020 7220 1666
Adrian Hadden / Paul Shackleton
Newgate Threadneedle Tel: 020 7148 6143
Roddy Watt / John Coles