An offshore investment group has been revealed as this week's buyer of more than three million Rangers shares worth £1.3 million.
Laxey Partners Limited, based on the Isle Of Man, is now the largest shareholder with an 11.64% stake and is planning to back the current Ibrox board at the club's annual general meeting next month.
Laxey said it would vote in favour of reinstating current board members, including the newly-appointed chief executive Graham Wallace. The firm's founding partner, Colin Kingsnorth, said: "We will be voting for the current board at the AGM. It feels like the requisitionists have pushed the pace of change for the good and there is now a professional and competent board in place."
The Rangers' Supporters Trust said the buy-up by Laxey could be "very significant in a tight battle."
It added: "In the past Laxey has been quoted as saying it will side with the fans ... that is a sensible position to take."
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