Rangers Rebels Now Taking the Company to Court!

My prediction record is not a great one. As I said earlier this week when discussing the refusal by the Rangers Board to accept the motion seeking appointment of new directors from the “Rebel” side, the rebels could go to court but I thought that highly unlikely…

This morning we have a further announcement to the Stock Exchange by Rangers.

4 October 2013

Rangers International Football Club plc

(“Rangers”, the “Company” or “Club”)

Notice under section 338 of the Companies Act 2006

Petition for an Order under section 45(b) of the Court of Session Act 1988 and for interdict

Further to the announcement on 1 October 2013, the Company confirms that notices under section 338 of the Companies Act 2006 were received from Paul Murray, Malcolm Murray, Colin Howell, Ian Cormack, John Graham, Lynchwood Nominees Limited, Hargreaves Lansdown Nominees Limited, Rock (Nominees) Limited, Redmayne (Nominees) Limited, Bank of New York (Nominees) Limited, Lion Nominees Limited dated 27 September 2013, and from Singer Nominees Limited dated 30 September 2013, (“Notices”) together representing 5.03 per cent of the voting rights of the Company (“Notifying Shareholders”).

The Notices put forward resolutions for the appointment at the Company’s Annual General Meeting on 24 October 2013 of Malcolm Murray, Paul Murray, Scott Murdoch and Alex Wilson as directors of the Company.

The Board requested the Notifying Shareholders to authenticate their signatures on the Notice and their shareholdings as required under section 338 of the Companies Act 2006 in order to validate the Notice.

The Board notes that certain of the Notices representing 3.06 per cent of the voting rights of the Company have not been validly executed.  The Board also confirms that it has been unable to properly validate the Notices for the remaining 1.97 per cent of the voting rights despite requests from the Board. The Board therefore confirms that the Notices are not valid.

The Board further notes that on 4 October 2013 the Company received notice of a petition filed in the Scottish Courts (the “Petition”) by Paul Murray, Malcolm Murray, Ian Cormack, John Graham and Colin Howell representing 0.71 per cent of the voting rights of the Company (the “Individual Shareholders”).  The Petition requests an order to be granted by the court, inter alia, to require the Company to circulate the Notices to shareholders and not to hold the Annual General Meeting of the Company for 2013 until such time as the Individual Shareholders have received 21 clear days notice of any such Annual General Meeting and the Notices have been circulated.

The Board offered to meet with the Notifying Shareholders to discuss their concerns but had not received a response. The Board then received notice of the Petition. Whilst the Company intends to strongly resist the Petition the Board intends to take all possible steps to avoid unnecessary cost and disruption to the Company.

Further announcements will be made as appropriate.

It is quite clear that the rebels (a) are not going away and (b) that they are willing to spend money to get where they want to go.

The choice that the Board now has is a tough one.

If they fight and lose and the AGM is delayed, then they might try to blame the Rebels for stopping the fans and shareholders having their say.

If they fight and win, there will be a new EGM requisition.

Either way all the Board is doing is delaying the owners of the company considering the possible new board members.

As a cash-rich company of course they won’t have a problem paying all of the legal costs that will be occasioned by fighting this…

And so the Rangers saga heads, once more, back to the courts…

And people wonder why a lawyer likes writing about it!

🙂

Posted by Paul McConville

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767 Comments

Filed under Companies Act 2006, Rangers

767 responses to “Rangers Rebels Now Taking the Company to Court!

  1. Fra

    Poor DeNiall, exposed as a lib. Aw there. Defeated, battered and bloodied but still up for the fight.

    What do you call somebody who enjoys pain…………that’s it. A complete tosspot. My weekend has just got a whole lot better.

    Ooh ah, up the _ _, ooh ah up the _ _.

  2. portpower

    “I must be honest here, I am hurting deep inside.”
    All can make a pop noise with their pointer finger within the inside of their mouth cheeks but you Steerpike/ Kuntcillor it comes from your backside.
    That`s The New World Order Initiation. Let it echo within your human anus. Ring a ring a rangers.

    you fall sevco

    • Gortnamona

      Symptoms of Narcissistic Personality Disorder

      In order for a person to be diagnosed with narcissistic personality disorder (NPD) they must meet five or more of the following symptoms:

      • Has a grandiose sense of self-importance (e.g., exaggerates achievements and talents, expects to be recognized as superior without commensurate achievements)

      • Is preoccupied with fantasies of unlimited success, power, brilliance, beauty, or ideal love

      • Believes that he or she is “special” and unique and can only be understood by, or should associate with, other special or high-status people (or institutions)

      • Requires excessive admiration Has a very strong sense of entitlement, e.g., unreasonable expectations of especially favorable treatment or automatic compliance with his or her expectations Is exploitative of others, e.g., takes advantage of others to achieve his or her own ends

      • Lacks empathy, e.g., is unwilling to recognize or identify with the feelings and needs of others Is often envious of others or believes that others are envious of him or her

      • Regularly shows arrogant, haughty behaviors or attitudes

      Niall I believe you tick every box – Get help lad.

  3. portpower

    Next we meet sevco no matter the score, youse will Kross the threshole for all the World to see. Once chewed, twice Liquidated.

    soup ladle with gullible spout for sevco

  4. portpower

    Galvanized Steerpipike. Especially if you wield a weapon.Don`t breathe the Green smoke. Ritus wrong son.

    nae mare visits sevco?
    campbell hates blisters on his phalanges.
    His mistress that was shared with the bill haund will haund your lower league amulet of mara this cold season.

    sevco

  5. portpower

    Three roond the ball sevco bloo poond? Simples.

    nutmeg a sevco

  6. Monti

    @Hector
    Morning ya vile terrorist supporting,no mark,unemployed,cretinous,coward,shitehawk! 🙂

    • hector

      @monti good morning you verminous lying ,bigot unemployed scumbag.I see the boy David and his old man had a wee falling out yesterday after rearpipe was outed as the phantom of the nursing home.We live in interesting times.

      • david

        @hector
        Glad to see you pair of halfwits met in cyberspace, in real life you might have spent years looking for each other.
        If you were not so new, or so stupid, you might have noticed that I have never been a fan of Steerpike, although I did admire his comprehensive demolishing of the more idiotic theorists on here.

  7. Monti

    THOUGHT FOR THE DAY:
    Rangers passed away trying to emulate Celtic!
    Not only that – they got Jim White to announce it!
    Don’t know about you but I’m away for a bowl 🙂 HH!

    P.S.
    Gutted to see St.Mirren beat Hearts yesterday haw haw haw!
    Budweiser,well done m8!

  8. portpower

    cotton on roond the nape sevco
    whose sweating at the airport?

  9. Monti

    CAM & CARSON BULLSEYE:
    Q.Music. Dodo dodo dodo dodo dodo dodo di di di di di dit.
    STAY OUT OF THE BLACK & IN THE RED
    CARSON & CAM ARE NOT RIGHT IN THE HEAD
    WONKA & COOPS THE TEDDY BEAR TROOPS
    YOUR TEAM ARE DEAD
    ‘MON THE HOOPS! 🙂

  10. Monti

    LEAST THOUGHT OF THE DAY:
    Niall walker.

  11. portpower

    Green soapbox is counted by months. sally knows. fish on the sevco sally & co. break watty jetty. The salmon have gone deep. We all live in a yellow submarine blackthorn/tenants rights. Page 1 of the rules. Sweaty haunds

    sevco

  12. Monti

    @Carson
    Quick as you can
    Give us the Alphabet?
    Quick now 🙂

  13. Monti

    Q. Ally McCoist bought X amount of shares for 1p, who does this help the most & why is that paramount?

    • portpower

      He`ll jump the fence at Hampden Park(sevcos` only ground) even though he`s not involved. With uncle Charlie with a hoose with 120 hooves in Normandy, sallys` was haunded a new hoose from the white water rapids father & son charity appeal? sally still thinks he`ll manage a side in America. Whose name is that on the breakwater hoose, sally via the american scots frontier sevco soccer? Ghod help you All America.

      buffalo soldiers sevco

      smoking the doobies and looking at boobies
      plonk your backside and enjoy

      sevco

  14. Monti

    Q. Walter Smith bought X amount of shares at 1p, who does this help the most & why is this paramount?

  15. Monti

    Q. Charles Green bought the history of Oldco Rangers, they now insist the Newco is the original club, so did Charles get his money back?
    If he did get the money back what did he do with it?
    If newco are in fact oldco, why are there still unpaid creditors & why are they in the lower leagues of Scottish football?

  16. eastside

    The Pie Mans latest offerings in the Record are outstanding. According to Pie Man, and with a slap on the back and cringe worthy endorsement from Hugh Keevins, the Pie Man is doing his bit to help Sevco financially! Yes, with a straight face the Pie Man talks of player wages decreasing next season, whilst at the same time talking about spending on players so that when they reach the SPL they will be capable of challenging the mighty Celtic! It’s immense in its level of stupidity and contradiction, Keevins lapping it all up without question just makes its hilarity even better! Quality Succulent Lamb Journalism of the highest order! Lol

    • @eastside, he also say’s this!

      McCoist has his own profit and loss columns to contend with in the dressing-room while executives upstairs look after boardroom matters.

      He said: “I lost players who would have fetched £40m in transfers when Rangers went into (liquidation).

      “I had to start from scratch with free transfers.

  17. Steven Brennan

    Good morning all
    Councillor Walker has been seriously outed as a fruitcake.
    Celtic top of the league
    Ayr utd to win today
    And the sun is shining
    Zippidedoda zippide ay

  18. JohnBhoy

    SAY IT AIN’T SO, ALLY

    Listened to the radio last night. Heard Keith – Wealth Off The Radar – Jackson, Chic – I Will Never Criticise Ally – Young and Graham – Why The Heck Did I Choose Journalism? – Speirs all refuse to blame Ally for accepting a salary of circa £60,000+ a month. A fucking month! It’s the salary’s fault, apparently, not Ally’s. Charles Green can be pilloried for getting paid £900,000+ per annum, but not cheeky chappie Ally.

    Here’s their rationale for excusing Ally’s excessive remuneration, from the mouth of Chic: “wouldn’t you accept £800,000 plus if it was offered to you?” So, Ally who signed his contract refused to turn down a salary that he didn’t know about until after he knew about it but by that time it was too late but he would have been an idiot to refuse it!?!? He had no choice is their cowardly lickspittle defence. Well, actually, he did have another option.

    Here’s the moral position. Your club was liquidated. Creditors got royally fucked. Fans who thought that they owned seats for life, to pass down from one generation to the next, lost their heirloom. Even a charity had to donate to help the new club continue. The humiliation was utter. Never again, they all swore, never again would our club be run with such fiscal irresponsibility. I knew nothing about the financial position that caused Rangers to go bust cried Ally. It wasn’t my gig. But financial prudence would be our catchphrase from now on. A salary of over £800,000+ is placed in front of Ally. This is obscenely high he protests. I cannot in all conscience accept this amount when we have just asked our loyal fans to dig deep. I might think that I am worth it, and you might think that I am worth it, but it would give the wrong impression. No, pay me £250,000 per year and with the rest buy new debenture tickets for those loyal fans that lost out. When we get back to the top, pay me the going rate, and even then only if we can afford it. This club is about loyalty, looking out for each other, knowing that when times are tough, when we are all down, that when we rise, as we will, that we will all rise together, as a club, not as individuals. That’s the Rangers way. [Repeat for each member of the Board].

    I know nothing about the current financial position of the club. It’s not my gig. I know nothing about the salary on offer to me. So where do I sign?

  19. Monti

    Q. Why has no ‘journalist’ from the MSM not asked Francisco Sandaza who advised him not to bless himself in front of the the rangers fans?
    This is surely a question decent the the rangers fans would want answered is it not?
    Please tell me there are fans at Ibrox who don’t care if a player shows his faith or not,as long as he is doing the business for them?
    We need to move on from bigoted attitudes & Catholicism in particular should be embraced at Ibrox!

  20. hector

    “tolerance and sanity.Thats what Rangers will demonstrate and maintain,especially when back at the summit”.James Traynor.Aye right.

    • portpower

      Feed that man. Do the children get it for 1p? Don`t forget your charity for the needy fund vision.

      sevco santa’s sleigh.

  21. jamie

    The failed Councillor has applied for asylum and has asked Graham & McMurder to take him under their wing, Cam was detained under the Mental Health Act last night, apparently he was arrested after being found naked and covered in jelly & ice cream and whimpering he had been “duped”

    Carson has also returned to his fav blogger and continues to spout his bile and the boy David has been grounded and his internet privileges revoked for disagreeing with his dad. Celtic are top of the league and normal service has been resumed.

  22. Run of the mill guff, but check out the post’s one reply and what he say’s on “paid posters”

    http://www.heraldscotland.com/sport/football/turbulent-waters-run-deep.22347937

    • Actually, here it is.

      The Sons of Struth called yesterday for those that had banners from the Stenny game to either take them to Ayr or pass them on to those with tickets.
      It will be interesting to see how the away support reacts as this is a different organism from the more genteel home support.
      Regulars will know that I do not usually support fan protests during the game but the only way that this Board will react is if the fan pressure is so great that it cannot be ignored.
      Another way of protesting is for fans who can attend the AGM to buy a small parcel of shares (if they do not already have them) to make this occassion as difficult as possible for the Board.
      One last point, in other forums paid PR posters are active to support the Board and suppress the fans who oppose them. I don’t mind anybody’s opinion but professional spinners beware – I will slaughter you.

  23. portpower

    If you`re hungry steerpike, I`ve a pot noodle.

    sevco

  24. portpower

    No need to meet. You`re finished Councillor.

    Oh yes. Beyond homozygosity provost of Glasgow.

    We all wept.

    sevco

  25. portpower

    All sevcoians are away, via America.

    We`re all that thick. Fuds

    Red white and blue tea towels and you can enter?

    sevco, the world has style. In the name of the……………
    don`t get caught

    pink panther sevco won`t.

  26. Last of the easterhoose mcgeechans

    Steerclear sawed aff your sunk

    • Dribble ! Joey ! You’ve still not given a valid reason why you did not attend TT yesterday ??? BTW HAVE RA SELLICK HAD A SELL OUT LEAGUE GAME SINCE THE MIGHTY RANGERS PLAYED THEM ????

      • eastside

        Dont be worrying about Celtics huge stadium, you need to worrying about Craig Whyte’s tiny little asbestos ridden Ibrox stadium and his intentions for it.

  27. paul

    Aye the real one it’s called Champions League and i don’t think there ever was a team called mighty rangers came visiting, oh well we all make mistakes, how is steerpike still licking his wounds what you gonna do now with your champ found out for been a lying no hoper.

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