Rangers Directors Stand Firm

4 March 2015, 07:20

Rangers' two remaining directors have denied clinging on to their boardroom roles while they demand a pay-off.

Dave King claims he is on the verge of ascending the Rangers throne, saying Ibrox chief executive Derek Llambias had admitted defeat.

But despite securing a "landslide'' victory in his battle for power, Llambias and the club's other director Barry Leach are refusing to quit before Friday's general meeting.

King alleges the long-term associates of Newcastle owner and Gers investor Mike Ashley want pay-offs.

The boardroom duo hit back at those claims, insisting they are remaining in position to ensure the club's shares are not suspended by bosses on the AIM market.

Their statement to the Stock Exchange said: "The Directors believe that they have at all times sought to act in the best interests of Rangers for the benefit of its shareholders as a whole, and refute in the strongest possible terms any suggestion that this is not the case and in particular any suggestion that they have given their personal interests priority over those of the Company.

"By remaining in post the directors wish to give the Company and possible incoming directors (should the Board change) the best possible chance of complying with the AIM rules and of avoiding the risk highlighted of the Company's shares being suspended. There can be no guarantee of avoiding suspension.

"The Board have reached out to David King in recent days to seek a resolution in the best interests of the Club but regrettably this has not yet proved possible. If control of the board of directors of the Company changes as a result of the general meeting, the directors pledge that they will do their utmost to work with the new board in the interests of Rangers Football Club, as they have done and continue to do.''

But King insists he will force the directors out by Friday at the latest.

The former oldco director is confident he can lead the club to a brighter future having already chased off chairman David Somers and director James Easdale ahead of his shareholder vote.

King, who will now take over the running of the crisis-hit Glasgow giants alongside former director Paul Murray and ex-Glasgow brewery boss John Gilligan, said in a statement: "All of the Rangers directors that are subject to my requisition have now accepted that my resolutions have been successful and there is now no need for the general meeting to proceed.

"Mr Llambias put it best by advising me that I had achieved a 'landslide' victory. I wish to thank all shareholders, and particularly the fans, for this resounding success. The future now looks more recognisable for all Rangers stakeholders.

"James Easdale and David Somers did the right thing by resigning, however the two appointees of Mr Ashley have stubbornly refused to resign and are using their current position (as remaining directors) to withhold implementation of the resolutions for personal gain.

"Now that the incoming board and I can focus on the future I will issue a further press statement outlining the immediate and intermediate steps that we have to take as we commence the road to re-establishing Rangers to the institution that its legacy demands.''

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