New director at Rangers as Danish investor becomes ‘person with significant control’

Reports in the local Herald newspaper suggest the Hong Kong-based 45 year-old, who is chief executive officer of Dehong Capital Partners, has made a significant cash investment in the Glasgow outfit.

The move sees him join chairman Dave King, John Bennett, Alastair Johnston, Graeme Park, Douglas Park and James Blair on the board.

Rangers International Football Club plc has now provided a notification that he is “a person with significant control” along with the rest of the board.

The development follows last week’s news that Rangers had called a general meeting of shareholders to finally approve a new fund-raising share issue to 13 shareholders.

Mr Wolhardt, is reported to be the man behind Borita Investments Limited, who would get 7.5m shares from the new issue bringing the company’s total to 11,132,500 and 7.7 per cent of RIFC, making it one of the biggest shareholders at the club.

According to Companies House, a person with significant control can have directly or indirectly more than 25 per cent of the company’s issued shares or voting rights or has the right to exercise, or actually exercises, significant influence.

Last year the Sports Direct and House of Fraser boss Mike Ashley struck a deal to sell all all of his shares to Mr Wolhardt and fans’ group Club 1872.