chilledbear 16 Posted December 8, 2011 Share Posted December 8, 2011 RANGERS will postpone their AGM until early next year, with chairman Craig Whyte now deep in talks to find a way out of the club's tax woes. SunSport can reveal Whyte has been in detailed negotiations with HMRC to sort out the problems he inherited at Ibrox. While that process continues the club's accounts have yet to be signed off, but the champions are awaiting a key letter from QC Andrew Thornhill on their tax case. Last year he indicated he expected the ruling to go in Gers' favour and the club have had no suggestion that has changed. Whyte said: "We'd still hope to have our accounts signed off before the end of the year. "It will not be logistically possible to have the AGM in what remains of 2011, though. "We will have it in the first quarter of 2012 when we'll have a better indication of how the tax case will play out. "I'd like to face that AGM with more certainty and positive news on the way ahead for Rangers. "I feel there is too much focusing on negatives from my past, but I put myself up there to be shot at. I can handle that. But I hope there will be a more positive atmosphere by the time of the AGM." Gers filed their unaudited accounts up until June 30 at the last minute eight days ago. Under the Companies Act all public limited companies must hold their AGM within six months of the business' year end. That means Hogmanay is the last possible date for an AGM. Failure to do so would leave Gers open to fines, but to trigger that a shareholder would need to make a complaint to the registrar at Companies House, who'd then begin an investigation. Read more: http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/3985219/Whytes-putting-off-AGM.html#ixzz1fv7NEDEU 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,376 Posted December 8, 2011 Share Posted December 8, 2011 Adhering to the Companies Act doesn't look to be a priority for the current board of directors. No wonder McClelland and Greig resigned. It's becoming a bit clearer. 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted December 8, 2011 Share Posted December 8, 2011 Adhering to the Companies Act doesn't look to be a priority for the current board of directors. No wonder McClelland and Greig resigned. It's becoming a bit clearer. Do you think so BD? I feel it is getting murkier all the time. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,363 Posted December 8, 2011 Share Posted December 8, 2011 Can't really see anything wrong with the above. The more information the shareholders will be told at an AGM the better, the more advanced all talks with HMRC and our lawyers are, the better. I'm sure some mean-ills will find something sinister in this news too and bring out flak of the biggest calibre. 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted December 8, 2011 Share Posted December 8, 2011 I have always tried to remain positive about Mr Whyte....and I will continue to do so, but it is getting more difficult!!! I would like to think that there is a VERY good reason for disregarding the rules on AGM's etc, but the reasons stated are far too vague. Also delaying the AGM does not look good to those who are convinced the clubs days are numbered. 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted December 8, 2011 Share Posted December 8, 2011 Can't really see anything wrong with the above. The more information the shareholders will be told at an AGM the better, the more advanced all talks with HMRC and our lawyers are, the better. I'm sure some mean-ills will find something sinister in this news too and bring out flak of the biggest calibre. I think the only valid reason for holding up the AGM/Audited account could be if an out of court settlement with HMRC is imminent. Otherwise, you hold the AGM and update everyone with the info as it stands. 0 Quote Link to post Share on other sites More sharing options...
Jim1955 12 Posted December 8, 2011 Share Posted December 8, 2011 Could this delay mean that the club incur any financial penalty? 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,376 Posted December 8, 2011 Share Posted December 8, 2011 (edited) Do you think so BD? I feel it is getting murkier all the time. The reasons why they resigned are becoming clearer. I believe every director of the club is liable to a fine if the AGM is not held within 6 months. Edited December 8, 2011 by Bluedell 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,376 Posted December 8, 2011 Share Posted December 8, 2011 Can't really see anything wrong with the above. Because it is against the Companies Act? 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,363 Posted December 8, 2011 Share Posted December 8, 2011 Because it is against the Companies Act? That was not my point. I see reason in why it is being postponed and I do hope that shareholders will see the reason too, even if they live in West Samoa. And I even hope that those who look over the Companies Act see the point here too, for I assume there are always exceptions to a rule. 0 Quote Link to post Share on other sites More sharing options...
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