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Not good news, but Ashley is being ever so gently marginalized. And with only 9% shareholding he will struggle to maintain control. Even though Llambias & Leach are Ashley's stooges they have a fiduciary duty to act in the company's best interests - and that is something which Ashley's 9% will not dictate.

 

Possibly this is Ashley's throw of the dice to extract some last minute cash from us - potential new owners will likely want their own guys in charge so will more than likely have to buy out the CEO & CFO's contracts.

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Not good news, but Ashley is being ever so gently marginalized. And with only 9% shareholding he will struggle to maintain control. Even though Llambias & Leach are Ashley's stooges they have a fiduciary duty to act in the company's best interests - and that is something which Ashley's 9% will not dictate.

 

Possibly this is Ashley's throw of the dice to extract some last minute cash from us - potential new owners will likely want their own guys in charge so will more than likely have to buy out the CEO & CFO's contracts.

 

How well do you think that fiduciary duty has been working so far? Ashley's now got all the execs on the board and the non-execs seems happy enough to do his bidding too. Wish I could be as sanguine about this development

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Directorate Change

Mon, 5th Jan 2015 17:47

 

RNS Number : 3339B

Rangers Int. Football Club PLC

05 January 2015

 

05 January 2015

 

Rangers International Football Club plc

 

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

 

Directorate Change

 

The Board of Rangers is pleased to announce that Barry Leach has been appointed as Finance Director of RIFC with immediate effect. Mr Leach has been acting as a consultant to the Company since 27 October 2014.

 

Barry John Leach (aged 48) is, or has been, a director of the following companies in the previous five years:

 

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Mr Leach resigned from being a director of Delima Limited on 24 October 2014. Delima Limited entered administration on 7 March 2014.

 

There is no further information required relating to Mr Leach to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules.

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