Rangers Delay Shareholders’ EGM
June 6, 2013
Scottish Third Division champions Rangers have put plans for an extraordinary general meeting of their shareholders on hold.
The club announced plans for an EGM last month when major shareholders were prepared to oust then-chairman Malcolm Murray and director Philip Cartmell.
Murray has since resigned over the growing pressure and former manager and club legend Walter Smith has taken over his boardroom role.
A statement to the London Stock Exchange read: “On May 16, sale 2013, the company announced that it had received a notice requisitioning a general meeting of shareholders.
“The company is engaged in discussions with a representative of the requisitioning shareholder and the timetable for posting a notice to shareholders has been extended with the agreement of the requisitioning shareholder.
“Further announcements will be made as appropriate.”
Major shareholders wanted to replace Murray and Cartmell with James Easdale and Chris Morgan.
Easdale previously confirmed that he and his brother Sandy hoped to secure a boardroom position as they increased their shareholding and said they had a delicate deal to purchase more shares, belonging to former CEO Charles Green.
However Green has now agreed to transfer half a million shares to investment first Laxey.
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