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EGM - 3 Bears Statement


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Plans for a convoy of buses to transport disgruntled Rangers shareholders free of charge to London for the club’s extraordinary general meeting on March 4 have been called off for fear that the scale of the exodus could disrupt the event – and allow the beleaguered Ibrox board to postpone the occasion.

The mass movement of supporters was the idea of Douglas Park, one of the Three Bears consortium – the others are wealthy supporters George Letham and George Taylor - whose offer of £10 million investment in the cash-strapped club was turned down by the board last month in favour of more loans from Mike Ashley.

The consortium supports the attempt by former Ibrox director, Dave King, to oust the current directors at the EGM, which was to have been held at the Millennium Hotel in Kensington, where the meeting room capacity is 500. However, the hotel management cancelled the booking on Monday, fearing that they would be swamped by Rangers fans angry at the decision to stage a general meeting outside Glasgow for the first time.

Nevertheless, the board will hold the EGM in London, hoping to avoid the unruly scenes which marred the AGM in December. Telegraph Sport understands that the EGM would certainly have been postponed had fans descended on the capital en masse.

 

A statement on behalf of the Three Bears said: "The original decision to hold the General Meeting in London at a venue capable of accommodating only 500 people demonstrates once again how little this Board understands or cares about the club’s thousands of fan shareholders. Indeed, the Board’s latest statement that they will look for another venue close to London underlines their total indifference to the views of shareholders who wish to attend.

“The meeting should be held in Glasgow and the only people who refuse to accept this are the directors themselves. It is reasonable to assume this important meeting could attract a larger attendance than either of the previous two General Meetings and of course Ibrox should have been the obvious and least expensive choice of location.

“Moving the venue 400 miles from Glasgow could, if anything, increase the resolve of shareholders to attend the meeting which will, in all probability, last less than 15 minutes. All three of us were intending to attend the meeting to support the resolutions proposed by Dave King to bring about the Boardroom change now desperately required.

“Douglas’s initial reaction to the decision by the Board to hold the meeting in London was to provide a fleet of coaches free of charge to ferry shareholders, who are entitled to attend, from Scotland to London and back. However, on reflection, we now believe it is more important that this crucial meeting takes place on March 4th and that the Board are given no excuse to postpone or delay.

“We are urging all shareholders to vote at this meeting but believe strongly that the use of postal votes or proxies may now be the best way for shareholders to have their voices heard. Although some shareholders will no doubt still wish to attend the meeting in person we are sure they will behave in a manner which allows the business of the meeting to be conducted as efficiently as possible despite any constraints imposed by the Board due to the size and location of the venue.

“Having been told they cannot have their chosen venue, which was not fit for purpose in any case, the Board are seeking an alternative but still in London. The need to change venue could have been avoided had the directors considered the shareholders rather than themselves in the first place.”

 

On the field, meanwhile, Rangers were dealt another blow when the Scottish Football Association cited the Ibrox captain, Lee McCulloch, for stamping on Dale Carrick of Raith Rovers during the Fife side’s 2-1 victory in the William Hill Scottish Cup tie on Sunday. If McCulloch accepts the offer of a two game ban – or is found guilty by a hearing on Thursday – he will miss the visit of likely play-off rivals, Hibernian, for Friday night’s crucial Championship match.

Remie Streete, one of five Newcastle United loan signings, is doubtful after suffering a groin strain during the Raith game. Another of the five, Swiss defender, Kevin Mbabu, travelled north for the first time on Tuesday but is unfit and will not be available for at least 10 days.

 

http://www.telegraph.co.uk/sport/football/teams/rangers/11404253/Rangers-news-Three-Bears-consortium-calls-off-convoy-to-London-EGM-over-fears-of-disorder.html

Edited by chilledbear
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