Fans Meeting Laxey In London

[chilledbear 16]

RANGERS fans will appeal to the largest shareholders in the Ibrox club to help kick out the board at talks in London tomorrow.

 

Gers supporters are hoping to persuade Laxey Partners Limited to back the requisitioners' bid to be elected directors at the AGM next week. The Isle of Man-based hedge fund became the largest shareholders in the Glasgow giants last month when they bought another £1.3million stake.

 

Laxey now own 11.64% of Rangers International Football Club plc. And they are poised to increase that by buying a further two million shares from former chief executive Charles Green before the AGM on December 19.

 

Laxey have given their backing to the current board members throughout all of the off-field turmoil along with Blue Pitch and Margarita Holdings.

 

And their support could prevent Scott Murdoch, Malcolm Murray, Paul Murray and Alex Wilson from gaining control at the general meeting.

 

However, members of the London branch of the Rangers Supporters' Association will meet with representatives from Laxey tomorrow.

 

And they hope to convince them to reconsider their stance and help vote the group backed by wealthy businessman Jim McColl into power.

 

RSA general secretary Drew Roberton said: "The idea is to explain to Laxey in person the dissatisfaction among the Rangers supporters at the way the club is being run.

 

"It is a bit of U-turn on the part of Laxey agreeing to meet fans as previously they had no interest in doing so for whatever reason. Their attitude seems to have changed."

 

Laxey founder and director Colin Kingsnorth explained his reasons for backing the current board last month.

 

He said: "I want to support stability, so I think that means supporting all current directors.

 

"Shareholder worries are the use of cash, transparency and corporate governance. The recent appointments seem to address that."

 

Rangers supporters staged a red card protest at the SPFL League One game with Ayr United at Ibrox on Saturday.

 

And they are optimistic that demonstration - and the threat to "disengage with the club" - may bring about a change of heart.

 

http://t.co/87tisBjLZm

[Frankie 8,150]

Can only be a good thing in light of the protests from Saturday....

[SteveC 150]

fingers crossed, we are in need of a change of heart/voting from them. Simply put our club is running out of time and options. 22 months on and here we are still being fleeced by crooks in suits aided and abetted by Morton Muscle and Toxic Jack.

[the gunslinger 3,366]

They will be taking a big risk with their investment if they piss off the fans.

[der Berliner 3,245]

Again ... Laxey has seen changes at the top of the club since their first investment. They obviously want a decently run club, which was not forthcoming with Green, Mather, and Co.. Now you've got Somers and Wallace overseeing events and if they are satisfied with those two, they can change their mind accordingly.

 

Pressure of the fans. Once the club secures the title, perhaps has some success in the cups too, will the supporters' organisations have enough power to stop people buying season ticktes for the last stage of the Interval? At this moment and time, we have no idea how the head-honchos will tackle the monetary issues*, whether they will have a share issue or whatnot. Just painting them black is probably a touch unfair right now. Hence I am somewhat surprised at the current stance of the supp. organisations, their no matter what attitude.

 

To reiterate, I am not fully backing Wallace and Somers here. But I can neither agree to the constant attacks they suffer in reply to previous board-members deeds.

 

 

*Same goes for the Requisitioners, AFAIK.

[Waltersgotstyle 297]

A hedge fund running our club...

 

Scary times indeed.

 

Wheres Dave King?

[Bigcid 0]

What would happen to shares if the club go back into administration? Laxey will need to be very careful or there will be no return on their investment maybe the fans demo at the weekend has scared them into a change of heart well done all involved.

[der Berliner 3,245]

A hedge fund running our club...

 

Scary times indeed.

 

Wheres Dave King?

 

They have some 12% of our shares. Do they "run the club"? Do we assume Wallace and Somers being their "lackeys"? I would be hesitant to believe either.

[Waltersgotstyle 297]

They have some 12% of our shares. Do they "run the club"? Do we assume Wallace and Somers being their "lackeys"? I would be hesitant to believe either.

 

You are correct, in theory they do not run the club but it would above to think that they do not have a very large say.

[Calgacus 8]

Aren't there a number of investment funds among the shareholders?