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Good morning all!
The Rangers International Football Club PLC share price, having sat at around 54 or 55p per share for months, plunged this week to just over 40p. Does this actually matter? Not directly, as I will explain, but it cannot be ignored by those with an investment (personal or financial) in the company which owns the company which owns the assets and business of the football club.
It does not affect Rangers directly. Mr Green’s proud boast that RIFC was not funded by debt, sorry, “external debt” means that the shares are not mortgaged as security for loans or overdrafts. RIFC already has the cash/proceeds of the share sale. It makes nothing from public trading of issued shares. In that direct regard therefore the drop in price is meaningless.
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Filed under Rangers
Tagged as AIM, Rangers, Shares