Green transfers Gers shares

Former Rangers chief executive Charles Green has agreed to transfer over half a million shares to Laxey Partners Limited, the club have announced.

Last Updated: 05/06/13 at 14:05 Post Comment

Charles Green: Agrees to transfer Rangers shares

Charles Green: Agrees to transfer Rangers shares

The deal was struck last October but under the terms of a lock-in agreement, the transfer of Green's 714,285 shares to the Isle of Man-based investment firm cannot take place before December 7, a statement to the London Stock Exchange confirmed.

"The Company announces that under an agreement entered into by Charles Green, the former CEO of the Company, with Laxey Partners Ltd ("Laxey") on 19 October 2012, Mr Green has agreed to transfer 714,285 shares owned by him to Laxey, once free to effect a transfer," the statement read.

"Under the terms of the lock-in agreement entered into by Mr Green with the Company on 7 December 2012, Mr Green is prevented from transferring shares before 7 December 2013, without the consent of Cenkos Securities plc other than in limited circumstances such as to connected persons, a family trust or in the event of a takeover of the Company."

Green, who was listed as owning 5,071,629 shares which equates to a 7.79% stake in the latest documentation available on the Rangers website, resigned his position in April following "negative publicity" over his consortium's acquisition of the club last summer.

However, the Yorkshireman last week claimed he had been vindicated by the outcome of an independent inquiry which found no evidence ex-owner Craig Whyte invested in the current Ibrox set-up.

The probe was commissioned by the board of last season's runaway Scottish third division champions after Whyte alleged he was involved in the Green-led consortium's purchase of the club's business and assets following liquidation.

Related News

Most Commented

Readers' Comments

N

ow is the time for Allardyce to finally get a chance at a big club please. He is likely to have a number of great offers for his services this summer, but who will he choose? Will it be Liverpool, Real Madrid, Dortmund or Man City?

medina_sod
Allardyce leaves West Ham

I

thought exactly this when the Match of the Day pundits were peddling this line. Is it really not okay for fans of a club to have some ambition these days then?

damoceltic
Bored Of Big Sam? It's Your Right...

H

ow magnanimous off him - to leave if he's asked to by the owners? What's the alternative, bunker down in his office claiming squatter's rights if FSG want rid?

feed the bear
Rodgers: I'll go if owners want

Footer 365

FA chairman Greg Dyke says Sepp Blatter "has to go".

Football Association chairman Greg Dyke insists that "Sepp Blatter has to go as FIFA president".

Jack Warner has been arrested and bailed in Trinidad

Jack Warner has been arrested and will be released on bail in Trinidad and Tobago as part of the FIFA investigation.

FIFA president Sepp Blatter welcomes US investigations

FIFA president Sepp Blatter has issued a statement welcoming investigations by US and Swiss authorities

Mail Box

Vidic Is Part Of United's 'Budget XI'

We have post-2000 budget XIs on behalf of Manchester United, Liverpool, Chelsea and Spurs. Plus gaelic football, FIFA, more awards and the majesty of Il Fenomeno...

Europa League: Hardly The AIA Cup

A Spurs fan definitely isn't bothered his side aren't in the Europa League final tonight. Also, a warning about Michael Laudrup, and how to build a team with less than £20m.

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company