A judge has urged Rangers chairman Dave King to make an £11m offer to the club's shareholders as quickly as possible.

Lord Bannatyne urged Mr King on Friday to comply with a December 2017 ruling which concluded that the businessman should offer to buy shares which remain outwith his control.

The share offer which Mr King must comply with arises from a case which was brought before the Court of Session by the Panel on Takeovers and Mergers last year.

The financial watchdog took the South African resident to Scotland's highest civil court because it believed he didn't comply with the terms of the 2006 Companies Act.

The legislation dictates that entrepreneurs who hold a 30 per cent stake in businesses are compelled to make an offer to investors to buy remaining shares.

Lord Bannatyne ruled in favour of the panel and concluded that Mr King had to offer investors 20 pence per share for the shares he doesn't control.

However, Mr King still hasn't complied with the court order. Speaking on Friday, Lord Bannatyne urged lawyers acting for Mr King to enter negotiations with the panel's legal team.

He said: "The court and indeed the panel has no interest in how Mr King goes about this -as long as it is compliant.

"It is a matter of complete disinterest to the panel how he makes the offer - it doesn't matter what trust he uses or how he raises the funds. It is about compliance with the code."

The judge was speaking during a procedural hearing into whether Mr King has breached the court order.

If Mr King doesn't make the offer, a hearing into whether he is in contempt of court may be arranged.

Lawyers acting for King have said he didn't have the money needed to buy back shares at 20 pence.

His advocate Lord Davidson of Glen Clova QC said Mr King was "penniless".

However, Lord Bannatyne found that Mr King had control over family trusts and could make the offer.

On Friday, David Johnston QC, who was acting for the Panel, made reference to a statement which was published on the Rangers website in the name of Mr King.

Mr Johnstone said the panel was "concerned" about references in the statement to there "being no end in sight" to the share issue.

Lord Davidson told the court that he'd tell Mr King of the court's concerns.