Requisitioners go to Court of Session - Adjourned until 14th

[Zappa 0]

That's the 14th then, which is far from ideal since there was meant to be a deadline for the AGM of the 31st.

[Stimpy 0]

Adjourned until a week on Monday.

 

Jack Irvine will go into overdrive in order to smear everything that moves.

[Zappa 0]

Could be to allow the two sides to reach a compromise or because the Board needed time to mount a defence.

 

Based on the long list of previous tactics employed by the Club's current board since the beginning of August, this delay has their signature written all over it. Stall for time... stall, stall, stall.

[Zappa 0]

Jack Irvine will go into overdrive in order to smear everything that moves.

 

Shame he can't be locked in a cupboard with a box of Mars bars, some water and a pee-pale for a month.

[simplythebest 0]

And on and on it goes.

[forlanssister 3,050]

PM Statement

 

 

"We are delighted with today's hearing and we look forward to having the opportunity of establishing the validity of our proposed director nominations on Monday 14 October at the full hearing.

 

In the meantime we would ask shareholders to firstly DO NOTHING until it is clear what they are being asked to vote upon at the AGM and secondly note the actions of this Board of Directors who seem hell bent on putting up every legal and technical blockage to our nominations.

 

Why are they so scared of a vote if they have all the shareholder support they claim to have? It is ridiculous that we are forced into going to the Court of Session in order to give the shareholders a democratic vote at the AGM.

 

The stalling tactics of this Board are indicative of why the shareholders felt compelled to make these ‎requisitions in the first place."

 

Ends

[forlanssister 3,050]

Stock Exchange announcement.

 

4 October 2013

 

Rangers International Football Club plc

("Rangers", the "Company" or "Club")

 

Notice under section 338 of the Companies Act 2006

Petition for an Order under section 45(b) of the Court of Session Act 1988 and for interdict

 

Further to the announcement earlier today on 4 October 2013 regarding the petition filed in the Scottish Courts (the "Petition") by Paul Murray, Malcolm Murray, Ian Cormack, John Graham and Colin Howell being shareholders representing 0.71 per cent of the voting rights of the Company (the "Petitioners"), the Company confirms that the Petition was called in the Scottish courts to be heard today, Friday 4 October, 2013 by Lord Kinclaven.

 

The Petitioners sought interim orders to prevent the Annual General Meeting of the Company from taking place on 24 October 2013. No such orders were granted by the court.

 

Certain legal arguments in relation to the validity of the section 338 notices have been continued to a new hearing to take place on Monday 14 October 2013 at the Court of Session in Edinburgh. Whilst the Company considers its legal position on these matters to be robust, the Petitioners have also confirmed that if their arguments succeed in relation to the validity of the s338 notices, the Petitioners agree that the Annual General Meeting should proceed to take place on 24 October 2013 as long as their proposed resolutions are circulated as soon as reasonably practicable after the hearing concludes and before the date of the Annual General Meeting. The Annual General Meeting of the Company is, therefore, set to proceed on 24 October 2013.

 

Further announcements will be made as appropriate.

 

For further information please contact:

 

Rangers International Football Club plc

 

Craig Mather, CEO

Brian Stockbridge, FD

Tel: 0141 580 8647

 

 

Daniel Stewart & Company plc

Tel: 020 7776 6550

Paul Shackleton / James Thomas / Martin Lampshire

 

 

 

Newgate Threadneedle

Tel: 020 7148 6143

Graham Herring / Roddy Watt / John Coles / Fiona Conroy

 

 

Media House International Ltd

Jack Irvine

Tel: 020 7710 0020

 

[Zappa 0]

"We are delighted with today's hearing and we look forward to having the opportunity of establishing the validity of our proposed director nominations on Monday 14 October at the full hearing.

 

In the meantime we would ask shareholders to firstly DO NOTHING until it is clear what they are being asked to vote upon at the AGM and secondly note the actions of this Board of Directors who seem hell bent on putting up every legal and technical blockage to our nominations.

 

Why are they so scared of a vote if they have all the shareholder support they claim to have? It is ridiculous that we are forced into going to the Court of Session in order to give the shareholders a democratic vote at the AGM.

 

The stalling tactics of this Board are indicative of why the shareholders felt compelled to make these ‎requisitions in the first place."

 

Ends

 

Excellent statement from Paul Murray.

 

It's clear from the board's stock exchange announcement that it was the board's attempts to block the proposed director nominations which have caused the adjournment and subsequent delay.

[the gunslinger 3,366]

Based on the long list of previous tactics employed by the Club's current board since the beginning of August, this delay has their signature written all over it. Stall for time... stall, stall, stall.

 

except for when they rushed out the agm document and accounts when they received this request.

[forlanssister 3,050]

From Toxic Jack

 

Statement on behalf of the Rangers Board

 

Speaking for Rangers board Jack Irvine said: “A small group of shareholders served notices on the Club seeking to have themselves appointed as directors at the AGM.

 

“The Club is obliged to take steps to verify that the shareholders had made a valid request. The club’s lawyers were of the firm view that the notices were not valid and entered into open discussions with the shareholders’ lawyers on why they took that view. They sought clarification from the shareholders on the question of validity. The Club extended an open offer to those shareholders to meet to discuss the issues. That offer was not even acknowledged.

 

“Instead without any warning the shareholders went to court seeking an order to stop the AGM taking place. The court declined to grant the order and the legal process will now continue”.