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Fans facing wait before make-or-break meeting


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FRUSTRATED Rangers supporters and shareholders will have to wait another month before the make-or-break Ibrox AGM.

 

Club bosses have revealed the shareholder summit is expected to be held next month, but remained tight-lipped about an exact date.

 

Supporters have voiced their disgust over the board's rejection of a £16million investment offer in favour of a £2m emergency loan from Sports Direct tycoon Mike Ashley.

 

Rangers directors are expected to face a grilling from shareholders and fans at the stormy AGM.

 

Sons of Struth chief Craig Houston said: "We've come to expect it - history tells us the AGM will be continue to be put off. I actually wouldn't be surprised if it was left until the last possible moment.

 

"A lot of people say they would like to see a Rangers fan on the board, but I wouldn't. I want to see a board full of Rangers fans."

 

The comments come after Rangers announced the appointment of Derek Llambias as a non-executive director, as reported in later editions of yesterday's Evening Times.

 

The 57-year-old former Newcastle United managing director arrived in Glasgow last week after the Ibrox board accepted Ashley's £2m loan.

 

Llambias, who was Ashley's right hand man at Newcastle United, has since been acting as a consultant to the Rangers board.

 

It is the latest move by Newcastle United owner Mike Ashley to increase his influence in the running of the Ibrox club.

 

An announcement about his new appointment was made to the London Stock Exchange yesterday morning.

 

It read: "The board of Rangers announces that it has appointed Derek Llambias as a non-executive director.

 

"Mr Llambias will be subject to re-election by ordinary resolution of the shareholders of the company at the upcoming Annual General Meeting which is expected to be held in December."

 

Sports Direct tycoon Ashley owns 8.92% of Rangers, but he has signed an agreement with the SFA that limits him to having no more than a 10% stake, while he is in command at St James' Park.

 

Sandy Easdale recently increased his stake in RIFC plc 5.21% and has control over another 20.94% of secret proxy shares.

 

Fangs groups recently urged Easdale to come clean over fears about the delayed AGM.

 

Union of Fans spokesman Chris Graham said: "We are concerned at newspaper reports that the annual accounts and therefore the AGM may be delayed.

 

"We would ask the PLC board to clarify if this is the case and to explain why, after what they described as a successful fundraising, there would be any reason to delay accounts publication."

 

Calls for the AGM come after a months of turmoil at Ibrox. Phillip Nash - a former Arsenal and Liverpool executive - quit, and chief executive Graham Wallace followed in leaving the club.

 

Rangers have a regulatory requirement to hold the AGM by December 31.

 

http://www.eveningtimes.co.uk/news/fans-facing-wait-before-make-or-break-meeting-187092n.25758971

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