James Easdale, the recently appointed non-executive director of Rangers International Football Club PLC (the company which owns the company which owns the assets and business which make up Rangers Football Club) is a very successful Scottish businessman and entrepreneur. He has a wide experience in business, having served as director of a large number of limited companies.
As required by Stock Exchange Rules, his appointment to the PLC Board was accompanied by an official statement.
However he has also achieved an additional position within the “Blue Room” at Ibrox, which could conflict with his non-executive role. Continue reading
On 9th July Rangers International Football Club PLC announced the following to the Stock Exchange:-
Rangers International Football Club plc
(“Rangers” or the “Company”)
Appointment of NOMAD and Broker
Rangers is pleased to announce that Strand Hanson Limited has been appointed as Nominated Adviser and Broker to the Company with immediate effect.
That came at 11.12 am on 9th July.
It was the second announcement of the day, the first being at 7.00 am. However that one was issued with Cenkos Securities listed as Nominated Adviser (NOMAD). The first announcement was in connection with the boardroom changes and although it was almost certainly prepared on the 7th or 8th July, it was still a very quick change. After all, there were only four hours and eleven minutes to make enquiries of the first NOMAD! Continue reading
In May the “opposition” to Malcolm Murray as chairman of Rangers requisitioned an EGM. The purpose of this was to appoint James Easdale and Chris Morgan and to remove Malcolm Murray and Phil Cartmell.
Rangers acknowledged this to the Stock Exchange on 16th May and in early June announced that the shareholders who had requisitioned the meeting were in consultation with “the company” (Rangers Intergalactic Football Club PLC) and the timetable had been delayed in the hope of resolution.
Walter Smith was then appointed to take over as chairman from Malcolm Murray, who stepped down as chairman but who remained a board member.
Things seemed to have gone very quiet. The time for the EGM had passed, which was in order as long as the requisitioning shareholders agreed. Continue reading
It has all gone very quiet regarding the boardroom upheavals at Ibrox. You will recall that in May there was a requisition for an EGM. This ought to have taken place by, at the latest, next week. However on 6th June Rangers International Football Club PLC announced that the timetable had been extended whilst discussions went on with the shareholders who wanted the EGM.
The purpose was to remove Mr Murray as Chairman (which has already happened) but also from the Board, along with Mr Cartmell.
They were then to be replaced by James Easdale and Chris Morgan.
Nothing official has been announced although the press have made various comments on leaks and rumours about who is to be elevated.
However the peace which seemed to have descended over Ibrox might now be disturbed, and the story which will cause this is brazenly displayed on the front page of the Rangers website. Continue reading