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

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."

Football365 Facebook Fan Page

The Football365 fan page is a great place to meet like minded people, have football related discussions and make new friends.

Related News

Sky Bet

    • Retrieving latest Sky Bet odds

Most Commented

Readers' Comments

I

may well get slated by other United fans for this, but out of the three contenders, I'd far prefer Liverpool to win the title. Yes some elements of their fanbase can be a bit OTT, yes they're our biggest rivals and yes it will make our poor season feel even more like the end of an era (Fergie's gone, Liverpool are back on top). However I just have to applaud Brendan Rodgers and the way he's turned Liverpool around in just a couple of seasons. It...

Mike_Christie
Please Stop Telling Us What To Think

H

ooray! We are all excited now, we beat a very mediocre team! With all due respect to WHU supporters, not winning that game shouldn't even be a consideration. This is the problem, there is no winning mentality at the Emirates - we're all congratulating ourselves beating a team that we have a winning record against.

TheWhiz
Wenger hails important win

I

s this meant to be an aspiration for United supporters? Moyes mediocrity strikes again. I see the Bayern boys don't want to sign for him, and his reputation amongst the senior European coaches make other key signings unlikely.

redbornandbred
De Gea's Europa League target

Footer 365

Contract news: Tim Howard has been handed an extension to his Everton contract

Tim Howard will be staying with Everton until at least 2018 after agreeing a two-year extension to his contract.

Neymar and Jordi Alba will miss the bulk of the remainder of the season

Barcelona forward Neymar has been ruled out for up to a month due to a left foot injury.

Transfer news: Southampton boss Mauricio Pochettino warns off Luke Shaw suitors

Mauricio Pochettino says in-demand defender Luke Shaw will be staying at Southampton.

Mail Box

Mignolet Is The Reason For Liverpool Flying

Mignolet's bad kicking is the reason for Liverpool's success, whilst one man keep notes on F365 mails. Plus England excitement, Arteta and a bad Walsall experience...

City: Bottle Jobs, A Laughing Stock...

There are some harsh words for Manchester City and Manuel Pellegrini in the Mailbox this morning, as well as some rather nicer ones for Tony Pulis and his magic hat...

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