THE battle for power at Rangers has taken another twist after it was revealed today that bus tycoon Sandy Easdale had bought 100,000 shares in the club.

It means Mr Easdale, who owns the McGill’s bus empire with his brother James, has brought his individual stake to 4.52% ahead of next month’s vital AGM.
However, the Greenock-
based businessman and Rangers director holds voting rights over 23.5% of the company’s share capital.
The purchase of the 100,000 shares, worth
almost £44,000, was made yesterday.
In a statement to the London Stock Exchange today, Rangers said: “The company announces that Alexander Easdale purchased 100,000 ordinary shares of 1 penny each in the company (“Ordinary Shares”) at a price of 44p per share.
“Mr Easdale now holds 2,942,957 ordinary shares in the company, equal to 4.52% of the issued share capital of the company.
“As previously announced, Mr Easdale also holds voting rights over, but does not own, a further 12,352,666 ordinary shares, representing 18.98% of the company
“Meaning that, in total, he holds voting rights over 15,295,623 ordinary shares, representing 23.50% of the issued share capital of the company.”
Last week, Laxey Partners Limited took its shareholding in Rangers to 11.4% and gave its backing to the Ibrox board ahead of the AGM of December 19.
The latest moves came after a group of opposition shareholders claimed a former Ibrox employee had reported concerns to the Serious Fraud Office.
It is claimed the woman reported her concerns in the summer, which were about payments made during last December’s Initial Public Offering of shares.
Rangers said the club had not been contacted by the SFO and was “unaware” of any investigation.
A group of shareholders seeking change in the boardroom has called for financial director Brian Stockbridge to resign.
It said: “He has presided over significant outflows of cash from the club since the IPO. In addition, his personal conduct has fallen a long way short of the standards expected.”
rebecca.gray@
eveningtimes.co.uk