6th Feb 2015 13:34
LONDON (Alliance News) - Rangers International Football Club PLC on Friday said it will hold a general meeting to vote on the proposals tabled by shareholder Dave King to remove the club's entire board, while also claiming it has been advised King's appointment to the board may threaten the company's AIM listing due to his conviction for tax fraud in South Africa.
King called for a meeting in January to remove Chief Executive Derek Llambias, Chairman David Somers, Finance Director Barry Leach and Non-Executive Director James Easdale from the board.
He has proposed that he, former club director Paul Murray and former Rangers Supporters Trust vice-chairman John Gilligan be appointed to the board in their place.
Rangers said shareholders will be asked to vote on King's proposals at a meeting on March 4, but also said in its statement it has been warned by its nominated adviser that King's appointment to the board could have an adverse impact on the company's AIM listing owing to King having been convicted of tax fraud in South Africa in 2013.
Shares in Rangers were down 0.8% to 33.25 pence on Friday afternoon.
By Sam Unsted; [email protected]; @SamUAtAlliance
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