Rangers put EGM on hold

Rangers have put plans for an extraordinary general meeting of their shareholders on hold.

Last Updated: 06/06/13 at 12:24 Post Comment

Rangers: EGM on hold for now

Rangers: EGM on hold for now

The club last month announced plans for an EGM following reports that major shareholders were preparing to oust then-chairman Malcolm Murray and fellow director Philip Cartmell and replace them with James Easdale and Chris Morgan.

But Murray has since resigned and handed his boardroom role to former manager Walter Smith.

A club statement issued on Thursday to the London Stock Exchange read: "On May 16, 2013, the company announced that it had received a notice requisitioning a general meeting of shareholders.

"The company is engaged in discussions with a representative of the requisitioning shareholder and the timetable for posting a notice to shareholders has been extended with the agreement of the requisitioning shareholder.

"Further announcements will be made as appropriate."

Easdale recently confirmed that he and brother Sandy, also his business partner, hoped to secure a boardroom slot as they continue to increase their shareholding.

The Greenock-based businessmen said they had a delicate deal to purchase more shares - believed to belong to former chief executive Charles Green - when they became available.

But Green has now agreed to transfer half a million shares to Isle of Man-based investment firm Laxey Partners Limited once stock market rules allow the switch on 7 December.

Green, who was listed as owning more than 5million shares in the latest documentation available on the Rangers website, resigned his position in April following "negative publicity" over his consortium's acquisition of the club last summer.

But the Yorkshireman last week claimed he had been vindicated by the outcome of an independent inquiry which found no evidence ex-owner Craig Whyte invested in the current Ibrox set-up.

The probe was commissioned by the Rangers board after Whyte alleged he was involved in the Green-led consortium's purchase of the club's business and assets following liquidation.

Morgan was named as one of the original investors when a consortium fronted by Green purchased the assets and business of liquidation-bound Rangers in June last year.

Green described him at the time as a "UK-based businessman representing family trusts".

Related News

Most Commented

Readers' Comments

I

think all those names linked to United exits make sense. Kagawa has never really looked like hitting the form he had at Dortmund and Fellaini is radioactive after last season (even though I think he's been unfairly singled out for criticism). Nani and Anderson have had more than their fair share of chances so they are done, and Hernandez deserves better than warming a bench.

ted, manchester
The Insecure Gossip

H

e'll be off to Spurs (or better) in January and I don't blame him. Looking forward to re-signing Grant Holt as his replacement though.

notalentjones
Benteke ignoring speculation

I

n fairness, he does look absolutely shattered in that photo.....

FairyNuff
Shaw told to shape up

Footer 365

Premier League: Ross Barkley signs new four-year contract at Everton

Everton midfielder Ross Barkley has signed a new four-year deal with the club.

Transfer news: Southampton's chairman says Jay Rodriguez and Morgan Schneiderlin will stay

Jay Rodriguez and Morgan Schneiderlin will not be sold, according to Southampton chairman Ralph Krueger.

Transfer News: Reported Manchester United target Arturo Vidal 'happy' to stay at Juventus

Juventus coach Massimiliano Allegri is convinced Arturo Vidal will remain with the club for the forthcoming season.

Mail Box

Youth Development Has To Be The Future

A varied Mailbox has thoughts on transfer targets, youth development, the obsession over 3-5-2, some innovative Blackpool suggestions and why Real bought Kroos...

Don't You Worry About Southampton...

We can't help but agree with one mailboxer who tries to calm the crisis-mongers gathering around Southampton, while we have mails on Man United's squad...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property