Tag Archives: Errors and Omissions

So Farewell Then Malcolm Murray – Did His Parting Shot Reveal Omission in Rangers Share Prospectus?

Rangers International Football Club PLC announced on 9th July that former Chairman Malcolm Murray and Phil Cartmell were both leaving the Board.

The announcement read:-

The Board of Rangers International Football Club plc has announced non-executive directors Malcolm Murray and Phil Cartmell have left the board.

Walter Smith, Chairman of Rangers, said: “Both Malcolm and Phil have made important and valuable contributions to the Club. The last year has presented the Club with a number of challenges and it has been beneficial to have two highly experienced non-executive directors such as Malcolm and Phil offering assistance.

“On behalf of the board I would like to thank them for their considerable efforts in helping to rebuild Rangers. Both men have other significant business interests and we wish them well in their future endeavours.”

Bearing in mind the disagreements at which Mr Murray was rumoured to be at the centre, the above was a respectful statement. All seemed sweetness and light.

And then Mr Murray decided to speak his mind in an open letter to the fans… Continue reading

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Filed under Charles Green, Companies Act 2006, Rangers

Why Was Charles Green’s Share Sale Not Mentioned in Rangers Prospectus?

On 19th October 2012 Charles Green, at that stage Chief Executive of The Rangers Football Club Ltd, agreed to transfer 714,285 shares owned by him to Laxey Partners Ltd once free to do so.

Under the terms of the lock-in agreement entered into by Mr Green with Rangers International Football Club PLC (RIFC) on 7th December 2012, Mr Green cannot transfer shares before 7th December 2013, without the consent of RIFC’s NOMAD, Cenkos Securities plc, other than in limited circumstances.

Some questions arise from that announcement.

How Can Someone Sell Shares in a Company Which Does Not Exist? Continue reading

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Filed under Charles Green, Rangers