Rangers May Sell Murray Park
Jul 27 14
Rangers International Football Club PLC (AIM:RFC) may sell Murray Park. The Rangers board issued a statement that they had no intention of selling Ibrox, following demands from the Union of Fans for a legally binding promise. But the statement made no mention of the club's training ground. The supporters' group said: "The Union of Fans were approached approximately two weeks ago, on behalf of the PLC board, to once again try to reach agreement on a binding legal guarantee over the club's assets. These discussions continued and various drafts were passed back and forth. We were seeking written guarantees over both Ibrox and Murray Park. The board removed all reference to Murray Park. This was not an oversight - they are explicitly refusing to include Murray Park in any undertaking. We believe this is because the board are actively looking to sell this vital club asset due to their failure to so far secure enough funds to see the club through the current season.'' The statement added: "Currently the club has four main assets. Two of those, Edmiston House and the Albion car park, have already been used as security for crisis loans due to financial mismanagement. The board continues to refuse to give any legally binding safeguard over Ibrox and we believe they are actively looking at a sale and leaseback of Murray Park - a vital asset if we are ever to properly develop our own talent. They have shown no commitment to protecting the club's assets.'' The club statement said: "The board is happy to reaffirm its position, which has never been a matter of debate, by confirming once again that it will not enter into any form of sale, securitisation or leaseback of Ibrox Stadium. 'This has been and still remains the board's clear and consistent position on this subject as it continues to protect and enhance the assets of the club."
Rangers International Football Club PLC Appoints Philip Nash to the Board of Rangers
Jul 25 14
Rangers International Football Club PLC announced that Philip Nash has been appointed to the Board of Rangers with immediate effect. Mr. Nash has acted as Consultant to the Club since January 2014, initially to assist the Board with undertaking the Business Review announced on 25 April 2014 and subsequently on financial and operational matters. His role has expanded such that the Board believes that it is appropriate for Mr. Nash to serve as a Director of the company. It is not currently envisaged that he will remain with the company on a permanent basis.
Rangers International Football Club PLC Announces Consolidated Earnings Results for the Six Months Ended December 31, 2013
Mar 27 14
Rangers International Football Club PLC announced consolidated earnings results for the six months ended December 31, 2013. For the period, the company reported revenue of £13,160,000 compared to £9,524,000 a year ago. Operating loss was £3,643,000 compared to £7,048,000 a year ago. Loss on ordinary activities before taxation was £3,534,000 compared to profit on ordinary activities before taxation of £9,520,000 a year ago. Loss attributable to the owners of the company for the period was £4,281,000 compared to profit attributable to the owners of the company of £9,314,000 a year ago. Basic loss per ordinary share was 6.6 pence compared to basic earnings per share of 31.8 pence a year ago. Cash used in operations was £5,573,000 compared to £713,000 a year ago. Purchase of intangible assets was £281,000 compared to £1,276,000 a year ago. Purchase of property, plant and equipment was £1,383,000 compared to £2,161,000 a year ago.