Isle of Man-based hedge fund Laxey Partners has become the largest shareholder in Rangers Football Club following a £1.4m deal.
Its purchase of more than 3.3 million shares in Rangers International Football Club Ltd takes its shareholding to 11.64 per cent.
The purchase was made yesterday (Wednesday) and Rangers notified the London Stock Exchange this morning.
Laxey Partners now has 7,578,672 shares and also has a deal in place to buy another 714,285 from former Rangers chief executive Charles Green when he is free to sell his pre-share issue holding on December 19.
The club’s annual general meeting will be held on the same day when former chairman Malcolm Murray and allies including Paul Murray will put themselves forward for election to the board.
In August, Laxey bought up two million Rangers shares.