Dave King has purchased just under 12 million shares in Rangers International FC plc on Friday afternoon, according to a notice on the London Stock Exchange website.
In a statement to the London Stock Exchange, it was announced: “New Oasis Investments Limited (“New Oasis”), a Company 100% owned by the Family Trust of Dave King, acquired 11,869,505 Ordinary Shares in the Company on 2 January 2015.”
It means that King’s company controls 14.57% of the Rangers holding company, shares that were acquired from Artemis Investment Management and the Miton Group.
King made his move just three days after the ‘Three Bears’ secured the shares of Laxey Partners who were disillusioned with the current Ibrox regime and labelled chairman David Somers a ‘wet fish’.
With King and the ‘Three Bears’ now on board, it looks as though chairman David Somers’ days at Ibrox are numbered – despite Mike Ashley still being on the scene and having significant control of the club’s retail and commercial operations.
King and the Three Bears now control 34.05% of the shareholding of Rangers International FC PLC. Sandy Easdale holds proxies for Blue Pitch Holdings and Margarita Funds Holding Trust with 24% of shareholding and Mike Ashley’s MASH Holdings Limited hold 8.92%.
There has been no news of what investment the two parties will bring to the Ibrox club.