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Bitterness intensifies ahead of crucial meeting

King told: ‘show us the money’ as Rangers board fixes EGM date

IbroxRangers under fire directors have intensified the stand-off between themselves and rebel shareholder Dave King by demanding he explain how he intends to finance the club and avoid the shares being suspended.

In another provocative statement to the London Stock Exchange, the club said the re-scheduled EGM to decide the board’s future will be held at Ibrox at 11am on 6 March.

The club has been forced to abandon its plans to hold the meeting in London after two hotels booked for the event decided to pull out. The Millennium Gloucester said it was worried about potential “disruption”, a clear reference to the likelihood of it being swamped by angry Rangers supporters. The Grange Tower Bridge cancelled after saying it received “threats from persons unknown”.

The meeting has been called by Mr King, who holds just shy of 15% of the shares. He wants to secure 51% of the votes in order to oust the current board and install himself, Paul Murray and John Gilligan as directors.

The board has previously appealed to shareholders by registering a list of reasons why they should opposed the South Africa based businessman.

In its statement this morning, Rangers said that on behalf of shareholders it would be asking Mr King to provide further information on his business plans in regards to the future running of the club and, in particular, how he intends to finance the club.

It also wants to know “what action he intends to take to avoid the suspension of the company from trading on the London Stock Exchange (and the subsequent risk of being delisted from trading) should shareholders vote him onto the board, as previously outlined in the announcement made on 6 February.”

 

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8 Comments to King told: ‘show us the money’ as Rangers board fixes EGM date

  1. BlueBear says:

    Wow! The sheer hypocrisy of these people is staggering. Demanding to know these things when they have NEVER, in all the time they have been in power, revealed any of their plans to the Rangers supporters.

    • Bertrand says:

      At least they stumped up the cash. Where’s ‘Glib and Shameless’ King’s money? I don’t remember King telling us during the previous era about EBT’s and withheld side letters.

  2. true-blue says:

    this board is totally unbelievable anytime we asked them anything they ignored us
    they wanted to put security against ibrox and they have no cash they are borrowing it all from Ashley giving him everything in return
    dave king if you are reading their letter please put a statement out to shut this board up once and for all
    they are digging their heels in and don’t want to leave because they are running scared what king will find once he is in the ibrox boardroom
    all the best for the egm dave you will put these rats out

  3. kenneth mowatt says:

    Only Sandy Easdale put up any serious money. The rest are the remnants loyal to Green. Whether King has money or not to put i,n the three bears do and there are other rich Rangers fans out there willing to stump up cash. Nobody wants to put money into an outfit run by those who are in power at the moment.

  4. Pasty says:

    In all honesty the Board of The Rangers are treating the fans as idiots. Dave King and The Three Bears have made it abundently clear they have the funding to provide loans to the Company running the club and offered the £10million. The Board gave Mike Ashley unbelievable terms and the Rights to future shirt sponsor money via Sports Direct and the 75% of the merchandise sales. The Rangers would have had a bigger share of all sales from Merchandise had the board not handed over the shares to SD and would also have had all monies from shirt sponsorship in order to rebuild the team had the Board of puppets not handed the income over to the retail outlet which SD now has AT Least 75% of and can have more by issuing more shares to Mike.

    Dave King has also stated that he has a NoMad sitting in the wings ready to take over, and the Board made it clear they would NOT be taking or answering any questions but have the nerve to demand that those they condemn do so.

    The best thing for all would be for the current Board to Resign and for Ashley to sell his shares, take his loans payments and players and go back to Newcastle. Clearly he is not going to beat the Rangers Fans in the same way that he Broke the Newcastle Fans. The Rangers Fans will force him out and take the club back through another Administration Process if neccessary. If Ashley stays then Season Ticket sales will be in the 100’s not 1000’s and it will cost him his fortune to keep the team going.

  5. Hypocrit Alert says:

    Dave King will import his approach to business from Johannesburg to Rangers. (comment edited)

  6. Bud says:

    The rats are running scared. Canny wait to see what they have been hiding from the true Rangers men (comment edited)

  7. This is the most hated board ever in charge at Rangers in its history. Every thing they do is for Mike Ashley and Sports Direct. If Dave king does not win there will not be any fans going to Ibrox and Mike Ashley can build flats. He will never get the better of the fans. Get them out now. We are the people. God Save the Queen. (comment edited)

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