Rangers have issued new shares worth more than £8m, according to documents submitted to Companies House and highlighted by The Scotsman.

Businesses issue new shares for any number of reasons – including to raise funds, convert loans, secure investor funding or to award bonuses – and the current Gers regime have done this multiple times in the past.

Rangers v St. Johnstone - Ladbrokes Scottish Premiership

(Photo by Ian MacNicol/Getty Images)

The Ibrox club allotted 42.25m shares at 20p a share at the end of last month, an amount that totals £8,450,000.

Rangers announced similar moves on four separate occasions in 2019, with similar share allotments taking place in June, August, September and November at 20p per share.

WAYNE ROONEY TO EVERTON IS A JOKE.

The Ibrox club have filed such a notice to Companies House around the same time of the season every season for the past three years as investment into the club and squad has grown.

Regarding who purchased the shares, this has not been named by the club but this information should be found in the company’s annual return.

The last set of accounts was filed with Companies House on 17th December last year and covered the period from 30th June 2019.

At last season’s AGM a £10m funding gap was highlighted by outgoing chairman Dave King but this was filled by existing investors who have bankrolled the club’s growth into a potentially title-winning unit.

(Photo by Mark Runnacles/Getty Images)

“The funding gap referred to has already been filled by existing investors,” said now-interim chairman Douglas Park [Rangers].

“And all of the potential new investors remain fully engaged. We will be in a position to announce something in the next couple of months.”

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