This morning brought the latest official update on the extraordinary saga of the Rangers Intergalactic Football Club PLC Extraordinary General Meeting. You will recall this was the one about which agreement had been reached, but then the Board and the Rebels could not agree on what that agreement actually was!
Today’s announcement reads:-
Further to the announcement on 4 September 2013, the Company confirms that whilst the Board’s discussions have continued with representatives of the group who requisitioned (together the “Requisitioners”) a general meeting to consider the proposed resolutions (“Requisition”) detailed in the announcement on 2 August 2013 (“General Meeting”), the Board is disappointed to announce that no agreement has been reached. Continue reading
Last Wednesday evening, around 6.10 pm, the following statement was released by Rangers to the Stock Exchange.
This picture did not form part of the Stock Exchange announcement
Further to the announcement on 2 September 2013, the Company confirms that the Board’s discussions have been continuing with representatives of the group who requisitioned (together the “Requisitioners”) a general meeting to consider the proposed resolutions (“Requisition”) detailed in the announcement on 2 August 2013 (“General Meeting”).
Following recent press speculation, the Company can confirm that the Requisitioners have put forward a proposal to withdraw the Requisition based on their request for the appointment of four additional non executive directors, being John McClelland, a former Chairman of Rangers Football Club, Sandy Easdale, an existing shareholder of the Company, Paul Murray, a former director of Rangers Football Club and Frank Blin, formally of PwC. As part of the proposal, the Requisitioners have also confirmed that, subject to the above, they are not seeking to remove any of the current Directors.
The Company confirms that discussions are continuing with the Requisitioners with regard to reaching an agreement for the withdrawal of the Requisition. The Board considers that any decision on any proposal for the withdrawal of the Requisition would be subject to the provision by the Requisitioners of a vote of confidence and continued support for the current Directors and to all necessary regulatory approvals.
Further announcements will be made as appropriate.
I’m sure my readers are aware of Schrödinger’s cat.
For those who are not, it is a “thought experiment” by the extraordinarily clever Edwin Schrödinger designed to analyse and explain (!) aspects of quantum mechanics and quantum superposition.
Wikipedia provides a helpful explanation as below.
Schrödinger’s cat: a cat, a flask of poison, and a radioactive source are placed in a sealed box. If an internal monitor detects radioactivity (i.e. a single atom decaying), the flask is shattered, releasing the poison that kills the cat.
Rangers Official Website – 11th November 2012
“The Rangers Football Club today announced the appointment of two non-executive directors to the Club’s board of directors.
Former Manager Walter Smith and Ian Hart take their place on the board of directors with immediate effect.
Walter Smith commented: “It is a great privilege to serve the Club that means so much to me in the capacity of non-executive director.
“Serious constructive efforts are being made to rebuild Rangers after a very difficult period in the Club’s history and if I can play a part helping that process, I am willing to do so. Apart from being a former manager of the Club, I am first and foremost a supporter and am no different from the many thousands of other Rangers fans who have shown they’re willing to do what they can to ensure Rangers rises again. Continue reading