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Daily Record
Daily Record
Sport
Mark Pirie

Rangers fan group offer share issue buy in alternative route amid £6.75 million Ibrox fundraiser bid

A Rangers fan group have come up with an alternative way to buy into the club's share issue this week.

Supporters can purchase a minimum of £500 to contribute to the Ibrox club with a pre-registration date of June 11 set for those who are interested.

The club stated they were hoping to raise up to £6.75million with the fanbase the opportunity to purchase stock following the clubs Premiership success.

Follow Rangers have admitted concerns over the minimum pay-out for average fans and have reached and agreement with club bosses.

The deal will allow the organisation to gather together stakes as low as £10, which will be piled up into a larger lump sum.

These funds will then be used to buy up shares on behalf of the small-cash investors, who will then receive their own share certificate once the transaction is complete.

Follow Rangers director John McKee said: "The share issue is the first time since our return to the top of Scottish football that fans can easily buy shares in Rangers.

"However, we recognise that the entry level of £500 is a significant amount of money for many fans to commit at this time.

"At Follow Rangers we can facilitate people buying smaller amounts of shares, from as little as £10. It is important to note that any shares purchased will be put in the name of the person that has bought them."

Shareholders will also be able to attend the club's annual general meetings and to vote on resolutions put before the board.

The Follow Rangers scheme will charge a £5 joining fee but all other sums committed will go towards the purchase of shares.

Rangers managing director Stewart Robertson (Daily Record)

McKee added: "We have been in dialogue with managing director Stewart Robertson and large shareholders. We are delighted at how helpful Rangers have been since the announcement was made.

"Stewart put us in touch with James Pollock of Tifosy and he has registered Follow Rangers to participate in the issue."

Rangers say thousands of fans have already signed up to express an interest in investing as the club bid for a second consecutive title and the Champions League group stage.

Chairman Douglas Park said: "We have been overwhelmed by the response.

"We knew that there were a significant amount of people wanting to own shares in Rangers, but still we've been astonished by the number of people signing up. It is testament to the commitment and loyalty of our amazing fans."

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