FRAN ------------- Tuesday 06 January, 2015 Robert Sarver Statement re Rangers Football Club RNS Number : 3471B Robert Sarver 06 January 2015 Statement re Rangers Football Club Further to statement issued by Rangers Int. Football Club Plc (RIFC) on 5 January 2015, Robert Sarver, the US financier and majority owner of the National Basketball Association franchise Phoenix Suns, confirms that he has made an approach to the Board of RIFC with a view to explore the possibility of purchasing the entire issued share capital of the company. Mr Sarver also notes the deadline of 5.00 p.m., 2 February 2015 in accordance with Rule 2.6(a) of the City Code on Takeovers and Mergers (the Takeover Code). Nothing in this announcement constitutes an announcement of a firm intention to make an offer in accordance with Rule 2.7 of the Takeover Code. There can be no certainty that an offer will be made nor as to the terms on which any offer might be made. Mr Sarver revealed that it was conversation with former Rangers player, Davie Robertson, now a successful youth football director in Phoenix, Arizona, which first sparked his interest in the club. Speaking from Arizona, Mr Sarver said: My three sons all play soccer, as we call it here in the US, for Davies club. Initially, Id had some of my advisors examining potential investments in teams in the English Premier League and in Spain, but Davie encouraged me to take a close look at Rangers. Like all Rangers fans, hes really upset about how far the club has fallen in recent years and the more we spoke, the more interested I became. Id be the first to admit that Im not a lifelong Rangers supporter, but anyone who knows me is aware that Im a genuine sports fanatic and owning two major basketball franchises for the past decade has been an enormous privilege. Ive spent the vast majority of my career in public companies and Im used to working in very highly regulated environments. I understand the crucial importance of business integrity and transparency. Rangers fans have every right to be wary about someone showing an interest in the club they love, especially given some of the events of recent years. First and foremost I believe what the club needs today is a very quick, major injection of capital to stabilise things and I can give the Rangers supporters a categorical assurance that I have the resources and ability to get this club back to its elite level. Im looking forward to building a consensus amongst supporters and prominent Rangers-minded figures who have the long-term success of the club at heart. Ive had detailed research carried out on Rangers and Im convinced that we could take it back to the top of the Scottish game on a stable and sustainable basis. Mr Sarver is a highly-respected CEO of New York Stock Exchange-listed Western Alliance Bancorporation, a $10 billion dollar bank holding company, and also sits on the board of directors of two other major publicly-listed US companies, Meritage Homes and Skywest Airlines. He has already provided proof of funds to the Rangers board. A high-profile figure in US sports, he purchased a majority ownership in the Phoenix Suns basketball franchise in 2004. During Mr Sarvers tenure the team boasts the fourth-best winning record in the NBA. Womens basketball is also big in the US and, under Mr Sarvers ownership, Phoenix Mercury has won three WNBA titles. Former Rangers Football Club player, Davie Robertson, said: Ive known Robert for several years. He has been very supportive of our local club and has a very good reputation in the US. When he said he was looking to invest in football in Europe, I told him right away that Rangers could really be doing with someone with his track record. I explained how far the club has fallen, but that there was huge potential to rebuild it. Mr Robertson, who played 245 times for Rangers over six seasons and was part of the side which won nine-in-a-row, continued: Even though Im now based over here, I always watch really closely how things are going at Ibrox and its tragic to see how a club which was once a force in Europe has been brought so low. I can tell every Rangers fan in Scotland and abroad, if Robert Sarver is successful in becoming part of the club, hell not rest until they are back on top again. - Ends - Enquiries The Big Partnership Alex Barr [email protected] 07962135467/0141 333 9585 Dealing Disclosure Requirements Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the persons interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure. Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the persons interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3. Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4). Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panels website at thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panels Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure. This information is provided by RNS The company news service from the London Stock Exchange
Posted on: Tue, 06 Jan 2015 17:58:10 +0000
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