Rangers has found a new venue willing to host its crucial extraordinary general meeting, which is expected to result in sparks – and very possibly fur – flying.
The meeting is now being scheduled for 12pm on March 4 at The Grange Tower Bridge Hotel in London. It had to be rescheduled after the previous venue, Millenium Gloucester Hotel & Conference Centre, pulled out amid fears of “significant disruption” being caused to other guests and neighbours.
The meeting has been called by two former directors – Dave King and Paul Murray – who are seeking election to the board along with former Tennent Caledonian Breweries managing director John Gilligan.
They also want chairman David Somers, chief executive Derek Llambias, finance director Barry Leach and non-executive director James Easdale to be removed from the board.
Unsuprisingly, the current directors are recommending that shareholders vote against those resolutions.
In a joint statement this morning, they said:
The directors consider that the board should comprise a chief executive and finance director, representatives of the three largest shareholder groups, and at least two independent non-executives. This will only be achieved with consensus amongst the various stakeholders.
The requisitioned resolutions contemplate a smaller board. There is no promise that all shareholders' interests will be represented and serious regulatory issues remain unanswered, particularly in respect of the Scottish Football Association and the position of a Nomad in the event that the resolution to appoint Dave King is passed.
Shareholders should consider who might be running the company and whether it will continue to be traded on Aim if the requisitioned resolutions are passed. Mr King is encouraged to provide clarification to shareholders regarding these matters.”