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Former director David King buys Rangers shares

By Andy Newport

The Rangers power struggle has taken a fresh twist after the club announced David King has snapped up almost 15 per cent of the club.

Just two days after it was confirmed the Three Bears group had bought out the club's biggest shareholder Laxey Partners, South Africa-based former oldco director King has now made his move.

A statement to the London Stock Exchange said: "The Company was informed on January 2 2015 that New Oasis Investments Limited ("New Oasis"), a Company 100% owned by the Family Trust of Dave King, acquired 11,869,505 Ordinary Shares in the Company on January 2 2015.

"Following the transaction, New Oasis will be interested in 11,869,505 Ordinary Shares in the Company, which is representing approximately 14.57% of the Issued Share Capital."

Meanwhile, Gers caretaker boss Kenny McDowall insists he still believes the club can secure promotion this season - despite his disastrous dug-out debut.

Ally McCoist's number two took charge of the side for the first time since the manager was placed on gardening leave last Saturday at Easter Road.

But it was a nightmare afternoon for the former Partick and St Mirren striker as Hibernian hammered his hapless team 4-0.

Asked if he believes promotion is still achievable, McDowall said: "Absolutely. That's the way you have to be here. We are expected to win games, to win leagues, to win cups - nothing changes in that aspect.

"The players know that and know what they have to do."

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