Ally backing fans at agm

[Crimson Dynamo 128]

Is it really that simple, telling other people, how they should spend their money?

 

Yes to have a say in the running of that company then it is. You buy shares to have your say

[TheTinMan99 0]

King, or McColl having some type of master-plan up their sleeve, is literally our only hope. I dread to think of the future if we are left to drift like this. The faces keep changing, but the one consistent, is the money keeps going one way, outwards.

[bluebear54 0]

King, or McColl having some type of master-plan up their sleeve, is literally our only hope. I dread to think of the future if we are left to drift like this. The faces keep changing, but the one consistent, is the money keeps going one way, outward.

 

It'll be a bitter pill to swallow, but if there's a will, the fans could stop the money flowing inwards.

[RANGERRAB 3,255]

King, or McColl having some type of master-plan up their sleeve, is literally our only hope. I dread to think of the future if we are left to drift like this. The faces keep changing, but the one consistent, is the money keeps going one way, outwards.

 

They have no masterplan. Just lobbying shareholders who put up their money a year ago and they weren't prepared to do so.

[RANGERRAB 3,255]

Yes to have a say in the running of that company then it is. You buy shares to have your say

 

Lobbying shareholders to gain control seems to be how the requisitioners think they'll succeed. No chance of them buying shares. Wonder how McColl would like it if people tried to make appointments to the board of one of his companies without putting any money into it. Doubt it somehow.

[andy steel 0]

Rab, you're either ignoring stuff you don't like or missing a lot of posts!

 

When Murray got his team together, the board named them as a concert party, a business term which apparently means that, once such a party gains a certain percentage of shares, they are legally obliged to offer to buy every other share there is. Which would cost a lot. And not just offer to buy them, but to buy them at the maximum price they had ever been at, meaning that if Murray/McColl wanted to buy shares today, they'd be paying about 90p for @40p shares.

 

They would have to be insane to pay that much, especially to the mob who own the shares at the moment.

[ian1964 10,410]

Paul Murray hails Ally McCoist shares gesture

 

ALLY McCoist’s decision to give the proxy vote for his Rangers shares to his local supporters’ club has been hailed by former Ibrox director Paul Murray as an example of solidarity with the fans that others should follow.

 

Murray, one of the so-called requisitioners who are locked in a power struggle with the present Ibrox board, has also announced that he will give up the fight to get back on the board if Thursday’s annual general meeting goes against him and his colleagues.

 

“Ally McCoist’s decision to proxy his shares to the fans is a fantastic gesture and typical of the man,” Murray said in a statement released yesterday. “We urge the board and all shareholders to listen to the views of the fans. They are the lifeblood of the club and cannot be ignored.”

 

Rangers’ share prospectus last year listed McCoist as the holder of more than one million shares in the company, and said he was in the process of adding another 70,000 to that total in a new share issue. The manager’s stake in the club is less than two per cent, and may have no influence on the outcome of Thursday’s annual general meeting.

 

But his gift of the proxy to the Calderwood Loyal Rangers Supporters’ Club in East Kilbride could bring him into conflict with his employers. Every organised Rangers supporters’ group is against the current board, whose re-election is being proposed at the agm – and opposed by Murray and the other three requisitioners, ex-chairman Malcolm Murray, Scott Murdoch and Alex Wilson.

 

Rangers declined to comment yesterday on McCoist’s action, but downplayed a claim by Malcolm Murray that the manager’s future was in doubt for as long as the present board remained in place. “I know him not to be favoured by some among the current incumbents,” Murray said, leading a Rangers spokesperson to retort: “Ally was told only yesterday by CEO Graham Wallace that the board are 100 per cent behind the manager.”

 

Should the board question his actions, McCoist could claim to be merely honouring a previous commitment to the East Kilbride club, with which he has longstanding links. Last week he admitted he would be “committing suicide” if he voted against his employers, but refused to say how he would use his stake at the agm.

 

“I’m not 100 per cent certain what I’m doing yet regarding my vote,” he said. “Everything’s a possibility at the moment. Of course I’ve thought about it, but I’m undecided on my decision.

 

“My vote will 100 per cent be used. It’s really vitally important; the most important agm in the club’s history.”

 

Explaining why he would step aside from the current conflict if Thursday’s vote went against the requisitioners, Murray said that his main aim in taking legal action to call the agm was to ensure that all shareholders had a voice on how the club was run. Even if those shareholders voted against his own views, he said he was entitled to regard his campaign as having already been a success.

 

“The reason we went to the Court of Session was because we felt it was important for the shareholders to be given the chance of a democratic vote at the agm,” Murray said. “I will stand or fall by that democratic vote. The shareholders have the right to vote for the board they want and I will stand by their decision, whatever it is. I feel as though I have a lot of support.

 

“But if I don’t get enough votes I have to accept that, and I will accept that. I would walk away, because I don’t think there is much more that I can do.

 

“As [businessman and Murray ally] Jim McColl said a few weeks ago, our campaign, if you like, has already been a success. When we started this process, of the six directors who were on the board at the time, only two are left. We have raised all the issues and fears to the public. Everyone can see for themselves what the issues are at Rangers.”

 

To be elected on Thursday, every candidate for the board – either a member seeking re-election or a new prospective director – needs a majority of the voting shares.

 

The spokesman for the Rangers Supporters Association has also praised McCoist for handing his share proxy votes to the Calderwood Loyal Supporters’ Club. The RSA’s Drew Roberton also believes that McCoist has taken himself out of the firing line by doing so.

 

“He’s obviously spent some time deliberating over what he should do,” he said. “There had been some speculation that he might give his proxy to a fans’ group but we didn’t see this coming. I believe Ally’s father was a member of the Calderwood Loyal. I dare say whether or not you believe this is a good thing depends on what your view is of the current board.

 

“What he has done is take himself out of an awkward position. The majority of the support aren’t happy with the current board but they are still his employers. By handing over his proxy he has removed himself from any controversy.”

 

http://www.scotsman.com/sport/football/spfl-lower-divisions/paul-murray-hails-ally-mccoist-shares-gesture-1-3235649

[the gunslinger 3,366]

Lobbying shareholders to gain control seems to be how the requisitioners think they'll succeed. No chance of them buying shares. Wonder how McColl would like it if people tried to make appointments to the board of one of his companies without putting any money into it. Doubt it somehow.

 

don't forget the price green quoted them for shares was 70p a share. they arent morons.

[ian1964 10,410]

Rangers boardroom battle: Paul Murray hails Ally McCoist's share giveaway as he says club and fans must come first

17 Dec 2013 07:20

 

AS the Ibrox gaffer handed over one million share proxy to fans, Murray says he has joined the likes of Walter Smith, John Greig and Barry Ferguson by taking a public stance against the board.

 

PAUL MURRAY last night paid tribute to Ally McCoist for risking his job to topple the Rangers board.

 

He then insisted the club must be returned to the control of those who will put its interests first.

 

Murray spoke with Record Sport after the news that McCoist has opted to proxy more than one million shares to his former local supporters’ club ahead of the agm on Thursday.

 

Those fans will now use the stakeholding – which amounts to almost three per cent of the club’s stock – to vote for the appointment of Murray’s requisitioners.

 

McCoist knows his own position could be in jeopardy if the current regime survives.

 

But Murray says that by putting his own neck on the line the manager has joined former boss Walter Smith, club legend John Greig and former players Richard Gough, Barry Ferguson and Nacho Novo by taking a public stance against the board.

 

Murray said: “Ally’s selfless actions deserve to be recognised.

 

“He has underlined his credentials as a man who puts the club and the fans first.

 

“Given everything that has been done to Rangers over the past two and half years, this is precisely the kind of attitude which must prevail after Thursday.

 

“We must follow Ally’s example to recreate a simple ethos – Rangers must come first.

 

“It is time for Rangers fans to win back control of their club.

 

“Every vote will count on Thursday. They must use their voice to demand change and a board in which they can place their trust.”

 

Murray’s comments came after he had released an open letter to fans urging them to demand answers from the present regime, including chairman David Somers and chief executive Graham Wallace, at Thursday’s powderkeg meeting.

 

In the letter Murray said: “For the past five months we have worked tirelessly to expose what has been happening at our club and force transparency.

 

“We have forced board changes but we believe there should be further change to give you a board you deserve.

 

“Members of the current board, in an effort to cling to power and distract attention from the unanswered questions, have sought to demonise us.

 

“In contrast we have been totally transparent and have published the Rangers Constitution which all board members should sign up to.

 

“On Thursday the club will have its first agm in three years. We urge every one of you who own shares to come along, ask your board the questions you want answered and vote.

 

“You deserve answers to the following:

 

“1. Why does your board refuse to disclose who is behind Blue Pitch Holdings and Margarita Holdings, the original backers of Charles Green and Imran Ahmad?

 

“2. Why does your board refuse to engage with you apart from issuing veiled threats that if you do not continue to buy season tickets the club will be in financial difficulty?

 

“3. Why does your board fail to acknowledge the critical need for fresh investment?

 

“4. Why does your board refuse to engage with our group, four individuals with credible business credentials and access to public and private investment to help the club and who are prepared to help the club for free?

 

“5. Why does your board continue to support Brian Stockbridge when his position is clearly untenable and who had to repay his bonus to secure the vote of Laxey?

 

“6. Why does your board continue to retain the services of Jack Irvine, a man who insulted John Greig, the greatest ever Ranger?”

 

http://www.dailyrecord.co.uk/sport/football/football-news/rangers-boardroom-battle-paul-murray-2935486

[the gunslinger 3,366]

all valid questions from paul