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Steve1872

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Posts posted by Steve1872

    Attendance last night

    in Rangers Chat

    Posted

    seen on FF

    Re: King on SSN with JW

    "wants to give the club the best chance of promotion"

    "clubs lacks energy"

    "Auchenhowie is "souless"

    "club can't go any lower"

    met Magath where he offered his services but King didn't say how much it's developed

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    NOMAD Resigns

    in Rangers Chat

    Posted

    Dave King says he will delay becoming director of #Rangers until due diligence is carried out by regulators. Paul Murray to be interim chair

    Dave King says those who attend Fridays AGM should do so with 'the calmness and the dignity that is befitting of this great club.'

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    NOMAD Resigns

    in Rangers Chat

    Posted

    Chris Jack ‏@Chris_Jack89 8m8 minutes ago

    Dave King on Nomad decision: 'reinforces why there was a complete lack of governance and transparency under its watch.

    Paul Murray will act as interim chairman as regulators are 'given time to complete the necessary due diligence' on DK before he assumes role

    DK: 'The GM is not affected by the suspension. The new board will proceed to ensure that the listing is resumed as soon as possible.'

     

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    NOMAD Resigns

    in Rangers Chat

    Posted

    http://www.telegraph.co.uk/sport/football/teams/rangers/11449904/Rangers-share-trading-suspended-although-board-claim-they-tried-to-stop-process.html

     

    [h=1]Rangers share trading suspended although board claim they tried to stop process[/h]

    By Roddy Forsyth5:00PM GMT 04 Mar 2015

    comments.gifComment

     

    Rangers’ shares were suspended from trading on Wednesday afternoon in the latest shock for the club’s dazed supporters ahead of Dave King’s predicted victory in Friday’s extraordinary general meeting.

     

    Trading came to an abrupt halt at 4pm with a statement from the company’s nominated Stock Exchange adviser (Nomad), WH Ireland.

     

    The version rendered to Telegraph Sport by the Rangers board is that the decision was made by the Nomad despite four and a half hours of argument from the remaining Ibrox directors – chief executive, Derek Llambias, and finance director, Barry Leach – to dissuade the adviser from pursuing this course of action.

     

    When informed of the latest development, King told Telegraph Sport: "This was done contrary to W H Ireland's commitment to me and without notification."

     

    Nobody from WH Ireland was available to comment. Rangers now have 30 days to appoint another Nomad and convince the AIM market that the directors – perhaps including King – are fit and proper people to be in charge of the club.

     

    [h=2]Related Articles[/h]

     

     

    If the AIM regulators do not accept a new Nomad or are not persuaded that the composition of the new board meets their criteria, Rangers' shares will become delisted and will only be available for trading privately. King has stated repeatedly that he will install a new Nomad and that he is confident that he will pass the tests required by AIM and also the Scottish Football Association.

    The adviser’s statement read: “The Company has been informed that its Nominated Adviser ("NOMAD") does not believe that it can satisfy the London Stock Exchange in relation to its NOMAD obligations in respect of the appropriateness of the Company's securities to be admitted to AIM, and therefore the NOMAD has resigned as Nominated Adviser to Rangers with immediate effect.

    “Accordingly Rule 1 of the AIM rules for Companies will apply, and trading in the Company's AIM securities will be suspended with immediate effect. If the Company is not able to restore trading within one month, admission of the Company's securities to AIM will be cancelled.

    “If requested during the suspension period WH Ireland is willing to assist the Company to implement the necessary changes for WH Ireland or another Nomad to become satisfied as to the Company's appropriateness for AIM.

    “If a Nominated adviser is appointed it may apply to the London Stock Exchange on behalf of the Company for trading to be restored. The Directors are disappointed that this event has had to take place despite the considerable efforts they have made over the last few weeks and months against the backdrop of the general meeting requisition and wish also to record their appreciation to their outgoing NOMAD for all it has done for the Club.”

    Telegraph Sport revealed on Tuesday that, although Llambias and Leach would remain on the board until King formally assumed control, WH Ireland would resign.

     

    It is understood that counting of the proxy votes – the deadline for which fell on Wednesday morning – indicated a clear majority in favour of a change of governance at the crisis-torn club.

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