30th Sep 2014 14:10
LONDON (Alliance News) - Rangers International Football Club PLC Tuesday said it has repaid the short-term credit facilities provided by George Letham and Alexander Easdale.
The company has repaid GBP1 million plus interest to Letham and GBP500,000 to Easdale.
The repayment of the facilities releases the Edmiston House and Albion car park sites.
Rangers said Letham has retained the right to receive GBP45,000 in a premium payable on the loan in cash by February 23, 2015 or at the option to receive shares in the company at any time before that date.
Rangers shares were down 8.4% to 21.06 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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