Charles Green claims 'every penny' from share issue is for Rangers

Rangers chief executive Charles Green has claimed "every penny" raised by the stock market flotation will go back into the club.

In an interview with Scotland Tonight, Mr Green stated that more than 9000 expressions of interest had been registered in the AIM stock market flotation of The Rangers Football Club Ltd, previously Sevco Scotland Ltd.

He claimed this amounted to the equivalent of £18m, which was "beyond his wildest dreams". In the announcement of the initial public offering of shares, Mr Green stated that his group aimed to raise up to £20m from the flotation.

In a previous interview with the club’s official online TV channel, Mr Green stated that the Sevco consortium would "make money" out of the stock market flotation, but claimed on Wednesday that all money raised would "come into the club".

The former Sheffield United chief executive also told the programme that a prospectus prepared for those interested in buying shares will contain a list of all 23 backers of the Sevco consortium, which has not been revealed previously.

He also claimed his group, which involves corporate finance advisory firm Zeus Capital, has done "more in the last five months than anybody has done at this club in the last five years".

Mr Green described former Rangers owner Craig Whyte’s claims that he had "brought him in" to the Ibrox club as "misleading". He said he was introduced to administrator Paul Clark, of Duff and Phelps, at a Chinese restaurant in London in May, but stated that Imran Ahmad, formerly of Zeus, had introduced him to Rangers.

The chief executive said the last time he spoke to Mr Whyte was on June 14, when the former owner phoned him to "congratulate" him on completing the asset sale to a newco, following the failure of the company voluntary arrangement (CVA).

Mr Green told STV's Scotland Tonight that he regretted "not being able to be open on the early stages with Rangers fans" claiming that many investors in the Sevco group requested to remain anonymous until either the CVA passed or failed.

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