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Jim McColl: bid to oust directors from Rangers board goes ahead


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MOVES to remove Rangers directors from the club's board are to be pursued despite attempts to hold out an olive branch to influential investors trying to push through the radical changes.

 

Billionaire Jim McColl - who headed a group of shareholders demanding a extraordinary general meeting (EGM) to force the removal of chief executive Craig Mather, financial director Brian Stockbridge and non-executive director Bryan Smart - has said they remain committed to it.

 

The meeting would also seek the appointment of Paul Murray and Frank Blin, the former executive chairman of accountants PricewaterhouseCoopers Scotland, to the board.

 

On July 31, those behind the calls for change at the top level said that if directors did not convene within 21 days they would organise the EGM and bill the club. The deadline expires today.

 

The club has opened the door for Mr Blin to join the board in an attempt to head off an EGM, but do not want Mr Murray.

 

The move on Tuesday appeared to echo Mr McColl's desire to see people with more corporate boardroom experience at that level in the club.

 

But a spokeswoman for Mr McColl said: "He says we are pursuing the requisition that was presented to the club."

 

Fans continue to support the removal of the directors because of further financial issues at the club. A fans' meeting earlier this month learned there was only £10 in the club's account, despite raising £22 million from a share offering and more than 70,000 season ticket sales over two seasons.

 

Fans had already reacted angrily after the club was plunged into a civil war with the resurrection of Mr Green as a consultant earlier this month, after resigning as chief executive in April amid a probe into his alleged links to the disgraced oldco club's owner Craig Whyte. The board has agreed Mr Green's involvement with the club is to be ended.

 

Drew Roberton, general secretary of the Rangers Supporters Association, said: "What the board have done is a starting point, to try to reach an agreement, but if the meeting has to go ahead, it has to go ahead."

 

http://www.heraldscotland.com/news/h...board.21937899

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MOVES to remove Rangers directors from the club's board are to be pursued despite attempts to hold out an olive branch to influential investors trying to push through the radical changes.

 

Although no surprise, still good to hear that this time he really means business (hopefully :) )

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Still not overly convinced this will go ahead. May be a last minute deal.

If not, expect another three weeks of lobbying and party politics...

 

As you allude to - in a game of poker your winning pot won't be too substantial if you show your hand too early.

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Some are questioning 'Billing the Club', is this normal?

 

''On July 31, those behind the calls for change at the top level said that if directors did not convene within 21 days they would organise the EGM and bill the club. The deadline expires today''.

 

Yeah, I'd imagine so. After all it's shareholders that are requesting this. They're part of the club.

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Some are questioning 'Billing the Club', is this normal?

 

''On July 31, those behind the calls for change at the top level said that if directors did not convene within 21 days they would organise the EGM and bill the club. The deadline expires today''.

 

Yeah, I'd imagine so. After all it's shareholders that are requesting this. They're part of the club.

 

Assuming the leaked requisition notice is genuine, then technically, it's the "company" RIFC which would be billed and RIFC would then need to recover the costs from the Directors who default on the requisition of the General Meeting.

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