Rangers asks rebel shareholder Dave King to explain his strategy for the club

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King, who owns 14.5% of Rangers, has called a shareholder meeting, which has had to be rearranged twice after two London hotels pulled the crisis-hit club’s booking, over fears their premises would be mobbed by angry fans.


Rangers moved the meeting to its Ibrox stadium and said earlier it would take place on March 6.

Rangers’ board, led by David Somers, said King must tell investors his plans — in particular how he intends to fund the club. It also asked what he intends to do about the likely delisting of Rangers shares if he wins.

It has previously raised questions about King’s background and whether past convictions over his tax affairs in South Africa could mean he does not meet the Scottish Football Association’s fit and proper rules.

The board instead wants a new set-up with directors from all three of the biggest shareholder groups, including Sports Direct’s Mike Ashley and the so-called Three Bears group of local businessmen.

Source Article from http://www.standard.co.uk/business/business-news/rangers-asks-rebel-shareholder-dave-king-to-explain-his-strategy-for-the-club-10059575.html

February 21, 2015 |
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