Former Rangers CEO Charles Green to Transfer Half a Million Shares

Former Rangers chief executive Charles Green will transfer over half a million shares to Laxey Partners Limited, pill the Glaswegian club confirmed.

The deal dates back to October 2012 but under the lock-in agreement the transfer of Green’s 714,285 shares cannot be completed before December 7.

A statement to the London Stock Exchange confirmed that the transfer to the Isle of Man-based investment firm would take place before the date.

The statement read: “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.

“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 owns 5,071,629 shares which amounts to a 7.79% stake in the latest documentation available on the club website.

He resigned in April following ‘negative publicity’ on his consortium’s takeover of the club, with rumours suggesting ex-owner Craig Whyte had been involved.

However, no evidence was found after an investigation was commissioned by the board.