Businessman invests £ 5m into Rangers
SCOTTISH businessman Stuart Gibson has made a £ 5million investment in Rangers to become the fourth largest shareholder at Ibrox.
Documents lodged at Companies House earlier this week showed that £ 8million worth of shares in RIFC plc had been allocated and Gibson is the main money man behind the transaction.
Gibson – who was born in Paisley and now operates in the Far East- previously provided a £ 1million loan to Rangers and has now stumped up a further £ 4million in cash to secure an 8.27 per cent stake in the Light Blues during the latest Ibrox share issue.
The property tycoon is the founder of the Redwood Group and is currently the co- CEO of ESR, a leading real estate firm that operates in China, Japan, South Korea, Singapore, Australia and India.
His significant Ibrox investment comes as George Taylor, Douglas Park and George Letham also put more money into their boyhood heroes to further strengthen Rangers’ financial position.
Chairman Park now controls 13.23 per cent of the shares in RIFC plc and is the second largest shareholder behind former Ibrox chief Dave King, who own 22.06 per cent through New Oasis Asset Limited.
Taylor and Letham control 10.45 per cent and 4.89 per cent respectively, while fan group Club 1872 are the sixth largest investors with 5.36 per cent of the issued capital.
The investment from Gibson is a show of his commitment to Rangers after he was brought to the Ibrox table earlier this year and a further sign of the backing of the existing Light Blues money men.
The Gers board were granted permission by shareholders to issue new shares at the Annual General Meeting last November as every Resolution put forward was overwhelmingly passed.
The AGM was to prove King’s final once as chairman as he stepped down from his position in an emotional farewell.
Park has filled the role of chairman since King resigned as a director in March and will now look to guide Rangers through the Coronavirus pandemic with the backing and financial muscle of his fellow Ibrox investors.