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SBD Global/June 6, 2013/Finance

Ex-Rangers CEO Charles Green To Sell More Than 700K Shares to Laxey Partners Ltd.

Scottish Third Division club Rangers have announced former CEO Charles Green "has agreed to transfer over half a million shares" to Laxey Partners Ltd., according to the HERALD SCOTLAND. A London Stock Exchange statement said that the deal "was struck last October but under the terms of a lock-in agreement, the transfer of Green's 714,285 shares to the Isle of Man-based investment firm cannot take place" before Dec. 7. 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." Green, who was listed as owning over 5 million shares in the latest documentation available on the Rangers website, "resigned his position in April following 'negative publicity' over his consortium's acquisition of the club last summer" (HERALD SCOTLAND, 6/5).
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