Takeover completed: Whyte buys Rangers.

Details below.

Much more to follow over the coming days.


http://www.londonstockexchange.com/exchange/news/dow-jones/news-detail.html?newsId=20110506SN012065

Wavetower Limited                               

                        ("Wavetower" or the "Company")                         

    Acquisition of controlling interest in The Rangers Football Club P.L.C.    


Wavetower is pleased to announce that it has today acquired 92,842,388 ordinary
shares, representing approximately 85.3 per cent. of the issued share capital
in The Rangers Football Club P.L.C. (the "Club"), for a consideration of £1.
Wavetower acquired its interest in the Club (the "Acquisition") from Murray MHL
Limited.

The Acquisition would ordinarily have required Wavetower to make a general
offer in cash under Rule 9 of the Takeover Code to all other shareholders in
the Club but, as the consideration paid by Wavetower for the shares acquired is
£1, the Takeover Panel has granted Wavetower a dispensation from making such an
offer.

Wavetower intends to post a circular to the Club's shareholders by 16 May 2011
containing background information on Wavetower and other relevant information.
Wavetower intends to maintain the Club's listing on PLUS Markets for a minimum
of 12 months from the date of this announcement.

Wavetower is 100% owned by Liberty Capital, a company which is ultimately owned
by Craig Whyte. Craig is a lifelong Rangers supporter and is very much looking
forward to guiding and assisting Rangers in its development over the coming
years.