The resignation of Craig Mather and Bryan Smart from the board of Rangers International PLC, in the wake of a damaging court defeat and a fiasco over the weekend, when inappropriate statements were issued on the club’s web site which did not adhere to stock market rules, leaves the company in a remarkable situation, indicated by a stock market notice this morning:
“The company, working with its advisers, will now seek to strengthen the board… to meet the standards required for an AIM company”.
Note the phrase “working…. to meet the standards required for an AIM company”.
After another director, Ian Hart, bailed out last week, and former chairman, Walter Smith, walked away two months ago, the company only has two directors left, FD Brian Stockbridge and non-exec James Easdale.
I believe an AIM company needs one more non-exec than executive directors. Easdale is a significant shareholder, meaning there is no independent non-exec on the board able to become chairman.
The normal course of business is to appoint a director before you resign, or dismiss an existing director, to ensure the company has the necessary quorum to carry out its business. If the company is not compliant in this respect, the board does not have the authority to subsequently appoint a director, nor can it call a General Meeting (Annual or Emergency).
If we take a step back from the immediate actions we could note that the main players in the phoenix have now left the stage, after being well compensated. Brian Stockbridge is left holding the power-down switch of the deserted White Star Line flagship.
In the event that a serious trading position lies ahead, the men who created it can point to the disruptive actions by the Rebellious Requisitioners (who don’t have a single vote more than they had yesterday), from the safety of their various chateaus. They’ve gone, the patsys are in place…..
As always with this story, when an action is grabbing all the attention, look for what is happening offstage. Our Hero has been playing his cards close to his chest recently.
Order Sean Fallon: Celtic’s Iron Man, below:
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Pat McGinley 30th May 1967
Larrybhoy.
I think I remember that day,You just mentioned a great poster from the early days.Neil would have been in his glory this last couple of years,talking about the financial plight of those from across the river.
Does he still have the vine yard in Chile.I’m looking for information regarding wine from Chile,we started to have a conversation re Chilean wines,but I forget the names he mentioned.
ACGR sorry to hear your news, hope things improve quickly.
Hail! Hail!
uly
It was too late I had pressed the button.
When the ship has been completely abandoned…
Will those who chose not to question cast their minds back to the infamous interview with chuckles
Where he said that he basically hoodwinked whytey boy for the shares…..
Without showing the proof….
Where internal investigations on who actually owns rangers have went unquestioned….
Where investors who wished to remain anonymous….
Imagine
Just imagine……
If when somebody finally boards the deserted ship…
And find the treasure is all gone ….
The ‘ranjurs’ men will try to pick it up for a song ….
But imagine if Craig whyte steps forward with the deeds…
And demands say? £15m for the assets?
They will call to boycot …..
Imagine if whyte reiterates his demands….
And adds …..
If they are not met there will be no…..
Incubator
No holding company
No seperate club
No seperate business….
That if not met he will kill the club dead with no back up
Somebody will pay up
Just imagine ……
Jelly and ice cream
catman – just got that one too – well done. Andy Payton 23 Oct…
Steve Kean 30th September 1967.
But he never made a first team appearance. Bugger.
Old tim.
What a spectacular post.
Blessed are the pacemakers or whatever that saying is.
So, as it seems the grey brigade are doing the usual, shall we say BBs at about 1400 on Tuesday or would that be presumtious
HH
pauloantony
New club with no history Third rankers playing out of Paisley:)))
Is Spiers being crafty?
Is he (not so) subtly marking the SFA and PL’s cards of a mistake if they allow King to pass a F ‘n’ P test?
Especially if they act contrary to the AIM regs.
Machiavellian, or what ?
bsr
“Where did mineshafters go before the internet?”
According to Walt Disney, it was “off to work” they went singing “Hi Ho Hi Ho It’s aff oot we go!”
oldtim67
Clearly CQN has enriched your Celtic experience these past years but at the cost of reducing your bank balance:o)
And if you were so drunk how’d you know I was as well?
And by the way I still have my bottle of Polish vodka in my dining room.
It has been a real joy to share your company on occasion these last few years.
You are a remarkable Celtic man through and through and may God Bless you my friend.
Thank GOD thats over.
hate hate hate International break!
Apologies if previously posted.
From TSFM
62 3 Rate This
This was posted on KDS by a poster called Jungle_G. It’s too good not to share!
Whoever the next guy is, he’ll have a tough time earning the manager’s trust and convincing him he has the best interests of the club at heart going forward.
Quote:
“I’ve spoken to Craig [Whyte], to the staff and to the players and we all agree that we must do our best to take the club forward. That will be the case and I can assure all the fans of that.”
February 2012
“I spoke to Paul Murray on Friday night and Brian Kennedy earlier in the day. When you have guys like that who have the club’s best interests at heart – and I’m guaranteeing that – then we have a chance.”
April 2012
“All you can do is put your trust in them [Duff & Phelps] to do their jobs, we are not qualified to really make judgments. I believe we have to keep trusting people.”
May 2012
“Everyone has got to be given a chance, whether it is Bill Miller or whoever. We all have to be supportive of someone in a position to take the club forward. I have met his representatives and they have been absolutely positive.”
May 2012
“I remain as positive as ever. I had a good discussion with Charles Green and he’s certainly very positive, he knows what he wants for the club, he aims to take the club forward. We all have to support and get behind Charles.”
May 2012
“Like every Rangers supporter, delighted Walter is back at the club. There’s a massive degree of confidence with him being there, which is understandable and absolutely correct.”
July 2013
“I’m delighted about it, absolutely delighted, and I’ve phoned Craig Mather to congratulate him. I believe we’re getting there now, I really do.”
July 2013
“Someone like Dave King is the kind of investor we need at this club again, someone who has definitely got the best interests of the club at heat. Dave King has. It can only be a good thing for Rangers.”
October 2013
Good Evening Timland.
Had a real sh#t day at work, not even the latest hun
farce could lift my mood………so I logged on here
to see what you lot were talking about….oldtim67
thank you bud………..you’ve brightened up a miserable
sod…….away back to read the other post’s
Chick says Dave King is the bestest man ever ever ever. Well apart from dearest Dave of course.
setting free the bears supports Celtic’s best fighter- Wee Oscar Knox.
I can guarantee you that I am not one, although I believe on my facebook account I seemingly work for them, I may end up chairman soon.
Dearie me – I’ve never heard a St Mirren fan get so agitated about rangers…..
Good (wet) evening friends
Old tim,
thanks for that, what a fantastic post. I sincerely believe that the site has been targeted for many months now by unhappy fans of the deidco,who are solely intent on stirring up trouble within the true Celtic fans that frequent CQN.
You have undone all their hard work with one straight fom the heart post.
Heartwarming CSC
ElDiegoBhoy.
I didn’t know you were drunk,it was our good friend Steve who enlightened me later.
Cheers for those remarks.It has been a good time on here
Wee Chico getting a bit of a kicking tonight.
Chic’s defence of Walter reaching heroic proportions.
Thick Hun on BBC is hilarious. Hilarious I tell you.
Dontbratt, you predicted this earlier!
Still find it amusing when folk still get “Aw_Naw’d” by newspaper articles
:-)
Cadizzy,
Doing ok thanks – family doing ok too; time is healing us slowly. All the best to you,
HH
I hear STV commented that ,Dunfermline coming out of admin saves their 125yr history .
My auld ma used to tell me “a liar has to have a very good memory ” how right she was .
Wee Chic has his rangers blinkers on,
fekin funny as Fek,
Why argue with them, they are always right, then again if they were not like that we wouldn’t be laughing and smiling all the time,
Surely “Stupid stupid huns”shall eventually enter the Collins dictionary of quotes!
Happy Celticing
GBWOK
skyisalandfill c’mon wee Oscar
I’ll get into Glasgow around 1ish, I’ll stop for snifters at the Italian Bar, Baccus,The Blane Valley, Rab Ha’s. and Citation before reaching BBs after 2pm. Sounds like I’m a p*ss Artist but I’m not really, I need to catch my breath and rest my feet every couple of hundred yards, that’s my excuse anyway.
What’s with the peepils puppets on SSB ,referring to Murky Park as Auchenhowie all of a sudden .
Maybe Minty is about to be cast in a bad light for the first time since the succulent lamb was replaced by succulent SPAM .
HH
Ffs
Lloyds MADE Murray sell for a pound. Chico in overdrive !!!!!
HH
oldtim67
13:07 on
16 October, 2013
Paul67etal.
I used to come to Glasgow, watch the game then head home, I used to go in Supporter buses. but it was always repetative. I headed home after the game.
I then purchased a computer because life at home was also becoming repetative.It was a bit of a life saver for me as I discovered that I could read all about my favoured team,one day I was reading NEWSNOW alway to get any news there was about Celtic.
One day when perusing Newsnow -There appeared a new blog called, ‘Celtic Quick News Not lazy journalism’ or similar.So I tried it.
From that day I have read CQN.
==============
quite brilliant memories, touching as well, thanks for sharing that.
Oh please be true from FF
_______________________
nterim CEO to be appointed on Friday. Bain?
Half-decent source (which I’ll keep to myself) but its my duty to share.Stockbridge chucking it tomorrow. Easdale hanging in there but freely admits he’s no clue about the day to day stuff. Apparently Martin Bain has been approached
Offered it until at least the end of the calender year.
No indication whether he’ll accept.
“To say David Murray pushed Rangers to the edge is total nonsense”. Chick Young 16/10/2013
How does Chico manage his love live? Diana complained about three in a marriage. Chico’s got Moonbeams, Walturd and Ally McCoist to entertain. The man is insatiable.
hahahahahaha wee Chuck Dung getting ripped a new one on shortbread
It was all Lloyds Bank’s fault….nothing to do with dearest davy -well maybe just a wee bit, but not that much
Uncle Tom English has his yellow fangs deep into Chuck’s nads
dogeatdogcsc
oldtim67
Steve wasn;t wrong!