Credit Facility of ?0.5 million

RNS Number : 2242B

Rangers Int. Football Club PLC

05 January 2015

 

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: [phone]

David Somers

WH Ireland Limited                                                                        Tel: [phone]

Adrian Hadden / Paul Shackleton

Newgate Threadneedle                                                                Tel: [phone]

Roddy Watt / John Coles

 

END

 

 

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