Further re. Credit Facilities

RNS Number : 1235D

Rangers Int. Football Club PLC

25 March 2014

 



Rangers International Football Club plc

("Rangers", "RIFC" or the "Company")

Further re. Credit Facilities

On 24 February 2014, the Company announced that it had entered into two secured short term credit facilities for an aggregate amount of up to £1.5 million. These credit facilities were provided by Laxey Partners Ltd ("Laxey") to the amount of £1 million (the "Laxey Facility") and Alexander Easdale to the amount of £500,000 (the "Easdale Facility").

Laxey has, pursuant to an agreement entered into today, transferred all rights and obligations in relation to the Laxey Facility to Mr George Letham including all its rights in relation to the standard security granted as security for the Laxey Facility. Mr Letham is a shareholder in the Company and a lifelong Rangers fan.  

The Laxey Facility, now transferred by Laxey to Mr George Letham, remains subject to the same terms and conditions with the exception that the premium payment has been reduced to £45,000 and remains payable in shares or cash.

For further information please contact:

Rangers International Football Club plc
Graham Wallace, CEO	Tel: [phone]
Daniel Stewart & Company plc	Tel: [phone]
Paul Shackleton / James Thomas (Nominated Adviser) Martin Lampshire (Broker)
Newgate Threadneedle	Tel: [phone]
Graham Herring / Roddy Watt / John Coles

 

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