Celtic Park

Next Game

Celtic v Rangers

Sunday, 01 February 2015, 13:30

Scot League Cup Semi-Final

Last Game

Alloa 0 - 1 Rangers

Saturday, 10 January 2015, 15:00

Scots Champ

Gers face courtroom battle

The struggle for control of Rangers is heading for the courts after the club received notice of a petition to force a vote on installing new directors.

Last Updated: 04/10/13 at 18:13 Post Comment

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

In an announcement to the London Stock Exchange, it said former chairman Malcolm Murray, and Paul Murray, a director of the previous administration, had filed a notice with the Scottish Courts.

They are looking for the courts to order a notice, to allow details of any proposed vote be distributed to shareholders. This hearing is expected to go before the Court of Session in Edinburgh.

A group of shareholders, who are concerned with the way Rangers is being run, were unhappy the club dismissed a request for a vote to install Paul and Malcolm Murray, along with Scott Murdoch and Alex Wilson, as directors.

The statement announced the request, which follows months of wrangling over proposed boardroom changes, was received from shareholders representing 5.03% of voting rights of the company.

The board claimed some of those notices had not been validly executed while it had been unable to 'properly validate' the remaining notices.

The statement continued: "The board therefore confirms that the notices are not valid.

"The board further notes that on 4 October 2013 the company received notice of a petition filed in the Scottish Courts by Paul Murray, Malcolm Murray, Ian Cormack, John Graham and Colin Howell representing 0.71% of the voting rights of the company.

"The petition requests an order to be granted by the court, inter alia, to require the company to circulate the notices to shareholders and not to hold the annual general meeting of the company for 2013 until such time as the Individual Shareholders have received 21 clear days of notice of any such annual general meeting and the notices have been circulated.

"The board offered to meet with the Notifying Shareholders to discuss their concerns but had not received a response. The board then received notice of the petition.

"Whilst the company intends to strongly resist the petition the board intends to take all possible steps to avoid unnecessary cost and disruption to the company."

Earlier this week, Rangers announced that the AGM will be held on October 24, following the publication of annual results which revealed an operating loss of £14.4m.

These results sparked a public dispute between the board and Malcolm Murray, after chief executive Craig Mather and finance director Brian Stockbridge both accused the former chairman of being responsible for setting directors' pay, which has come under heavy criticism.

Mather's predecessor, Charles Green, received a £933,000 pay package for less than 12 months' work while finance director Stockbridge doubled his salary with a £200,000 bonus.

Murray insisted he had struggled to get directors' remuneration reduced during his time as chairman, which ended in April.

The board responded by accusing Murray of making 'grossly misleading

statements' but Murray claims: "I made a statement yesterday of factual accuracy.

"I'm disappointed by the aphorisms in the RFC official statement. But I have been encouraged by shareholders and fans alike to pursue this course of action and I will continue to do so."

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

O

ne of the conclusions from this list is that Man City should never buy a striker in January - good luck Wilfried Bony....

Savinator
F365's Top Ten Worst January Panic Buys

I

was there, it was embarrassing - the team looked totally unbalanced from the off, the defence was woeful and when Mikel came off injured it got even worse with nobody in front of them. Up front on several occasions we had opportunities and nobody would shoot - it was a complete farse! On the back of Salah's performance I'm glad there is talk of getting shot...

Fly1ngh1gh
Cup defeat shames Mourinho

G

reat to see Tommy Rosicky getting some love. A wonderful player. Such a pity we lost so long to injury. I was so excited when we signed him, this resurgence only makes the absences seem more of a lost opportunity.

cheshire-gooner
16 Conclusions: FA Cup Fourth Round Weekend

Footer 365

Three Bears consortium criticise Rangers board over Mike Ashley loan

The Three Bears consortium have criticised Rangers' decision to shun their offer in favour of Sports Direct's £10m loan.

Transfer news: Newcastle midfielder Moussa Sissoko happy at the club

Newcastle midfielder Moussa Sissoko is happy to stay at the club, despite rumours he is a target for Arsenal.

Transfer news: Samuel Eto'o leaves Everton for Sampdoria on free transfer

Samuel Eto'o has completed his free transfer from Everton to Sampdoria on a two-and-a-half-year deal.

Mail Box

The Problem With FA Cup Shocks...

...is that the draw for the next round is pretty shocking. Blackburn v Stoke, anybody? We also have mails on LVG and ManUnited, who drew plenty under Fergie...

You're Man Utd, For Crying Out Loud!

Defending a 0-0 draw with Cambridge on the grounds that other teams lost to lower-league opposition is not befitting of Man United. We're inclined to agree with Mailboxers...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company