Sandy Easdale’s Grip on Rangers Tightens – But When Did the PLC Know?

Sandy Easdale (one of the brothers behind the very successful McGill’s bus company) has been very active regarding Rangers over the last few days.

Only last week it was announced, just before Rangers kicked off, that he had been appointed to the Board of the former Sevco Scotland Ltd, now The Rangers Football Club Limited. I wrote about that here.

This week has seen four separate Stock Exchange announcements regarding Mr Easdale.

One related to his acquisition of over 2 million shares, giving him a personal holding of 2,842,957 shares in Rangers Intergalactic Football Club PLC, or 4.37% of the issued share capital.

Which Dis-satisfied #Rangers Shareholder Sold 1.5 RIFC PLC Million Shares?

Bill McMurdo seems to have his finger on the pulse of Rangers sentiment, and has many contacts amongst the leaders and former leaders of his favoured team. This is exemplified by a piece on his blog yesterday, which can be read in full here.

In it he speaks to Charles Green about his wish to return to a senior position within Ibrox. He also denies suggestions that recent share sales, which contributed to the slump of over 20% in the share price, were his doing. As he correctly says, he is prevented from selling his shares until 12 months after the float.

One particular line which is of interest in Mr McMurdo’s piece reads as follows:-

Green said: “I have 5 million shares and have not let go of 1.5 million over the past few days. The shares sold were by an investor who is not happy with the way things have gone.”

The Sun Says Mazen Nabil Houssami Behind Rangers Board Moves – Who Is He?

Today’s Sun reports that Mr Houssami is the man behind the EGM requisition at Ibrox. Thanks to Ecojon’s efforts, readers of this blog know a lot about Mr Houssami.

He was discussed here some time ago and the full posts can be accessed here.

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From this blog in October 2012:-

Blue Pitch Holdings and Mazen Houssami

As far as Blue Pitch Holdings is concerned, we have the name of Mazen Houssami as “the legal beneficiary”.

He has been mentioned before.

Ecojon on the Green/McMurdo Discrepancy and Mr Naqvi’s “Investment” in Rangers

The following is a comment by Ecojon on the previous post, but I thought it worth putting it up as a post in its own right.

Take it away!

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Some “Rangers Haters” at the time suggested that the very wealthy gentleman in question had indeed invested at least £2 million but that when the original investors were told that they were to be paid in an equity for cash swap that he demanded and received his cash back as per the original agreement.

Now I have no way of knowing whether this is true or not or indeed of checking it.

However the McMurdo outpouring of grief is either sloppy journalism on a par with the Record, Sun, STV or Glasgow Herald or he has been fed mince in the guise of succulent lamb from a man in Ibrox.

Rangers’ Green Reveals All Re Blue Pitch Holdings…Or Maybe Not. Who Is Mazen Houssami?

In June Mr Green promised that all of the questions about his consortium and investors in Rangers would be answered “in seven days”. Well, he did not say which seven days!

However last night he has addressed one of the issues – the mysterious Blue Pitch Holdings. His statement from the official Rangers site is below, with my comments beneath.

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CHARLES GREEN, Chief Executive, issued the following statement today:

“There has been renewed speculation and media comment recently regarding the current shareholders in The Rangers Football Club. A full list of current shareholders will be published in the share prospectus which will be issued within the next few weeks.

“A lot of attention has focused on investment funds which have taken a shareholding in the Club to date.

“For example, I would like to clarify that in the case of Blue Pitch Holdings, the legal beneficiary is Mazen Houssami and not Arif Naqvi of Abraaj Capital. Mr Naqvi is a personal friend of mine and I approached him early on in the process about a shareholding but he has not proceeded on the basis that the investment fell outside the core geography he invests in.”

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We can therefore expect the prospectus in a “few weeks”. Even better, this is the “next” few weeks!

A full list of current shareholders is to be published. Bearing in mind that previously Mr Green announced it would be breaking the law to reveal some of the shareholders, this is an interesting change in his stance. I wonder if any present shareholders would be looking to divest themselves of their shareholding prior to publication of the list in the prospectus?

Blue Pitch Holdings and Mazen Houssami