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Rangers International Football Club plc – fundraising announcement reveals dire current financial situation

By Steve Moore | Friday 29 August 2014


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Rangers International Football Club (RFC) has announced an open offer of up to 19,864,918 new shares at 20p each to raise up to £3.97 million before expenses (an estimated £3.6 million net) to purportedly “allow the company to start implementing the strategy to re-build and re-establish Rangers as a stable, sustainable and successful business to deliver both shareholder value and footballing success”. However, further reading reveals a continued dire financial position from a company which has already delivered an extraordinary litany of woe since its December 2012 AIM admission.


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