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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setting free the bears supports Celtic’s best fighter- Wee Oscar Knox @ 17:59 on 16 October, 2013
I’m not going to take the prize.
According to fitbastats he wa a non-playing sub against queens park on 14th may 1985.
http://www.fitbastats.com/celtic/game.php?gameid=81491
He may have played for a Celtic X1 but that doesn’t count.
Wee Chuck Dung in Cher wig, dreams of absent friends at the last (sic) deidco Christmas party:-
http://www.youtube.com/watch?v=UtV_VP-gvjA
ACGR Supporting Big Nan’s Reveal the Masonic Judge Petition.
Very sorry to hear about your break-in in Spain.Hope there wasn’t much damage and I hope they catch the culprits.
Michael
19:43 on 16 October, 2013
setting free the bears supports Celtic’s best fighter- Wee Oscar Knox @ 17:59 on 16 October, 2013
I take that back. Fitbastats says he came on as a sub……
Gie’s that prize.
Agree with the posters saying enough is enough from Chic.
After everything that’s happened over the last 2 years to come out with the stuff he does is shameful. It is either astounding ignorance, or he is batting for one of the factions at Ibrox.
I suspect a bit of both.
Either way, he falls woefully short of what is required in a modern sports journalist, and certainly should be nowhere near a news organisation like the BBC – which, despite some of the plums employed in the Glasgow sports department – remains the gold standard of news suppliers worldwide.
Catman supports Wee Oscar @ 18:23 on 16 October, 2013
“Pat McGinley 30th May 1967”
Nice one… the prize is yours
ItaliaBhoy @ 19:48 on 16 October, 2013
I even think Kenny McIntyre is rowing backwards. Too embarrassed to be associated.
I like the way Tom English lets Chuck Dung plenty of chance to speak. He doesn’t cut across him. Even wee EBT Dodds keeps quiet.
Caught the last 15 minutes of shortbread – Chick Young made an absolute twat of himself again with his fanboy shrieking on behalf of Minty and the cardigan.
He epitomises everything that is wrong with the succulent lamb munching media in this country. The beautiful irony is that their nauseating, unquestioning brown-nosing of the brown brogue brigade actually played no small part in the demise of that rancid institution.
oldtim @ 13:07
Haven’t posted for a few months, just to say its one of CQN’s best ever.
Thanks, great memories of pablo too.
winning captains
01:26 on 16 October, 2013
31003 so you are the perfect parent?
The rest of is aren’t but few have been punished so much as this family who you seem to delight in attacking.
Do you need to post these views on here because I can tell you this you do yourself little credit in many people’s eyes.
Dear Sir,
I have no idea what warranted your personal attack on me last night….maybe you had had a bad day….maybe it was something else….I’ve no idea…..but…..if you care to scroll back the years I have been posting on this blog you will note that 99% of my posts have been lighthearted and designed to raise a chuckle or a smile. My post last night was from the 1% of posts I submit when trying to engage on particular topics. The previous evening the blog was taken up by various posters OPINIONS about the abduction of Maddie McCann, based on mostly what they had read in newspapers or on the news…….my post was no different…..but you felt it appropriate to insult and attack my character on my opinion. Now, correct me if I’m wrong but, I believe you may now be a custodian of CQN. If that is the case I believe comments like yours will more than likely drive people away from this site. You have taken it upon yourself to be judge and jury of anyone who does not appear to sympathise with the plight the McCanns find themselves in. For the avoidance of any doubt, I PRAY that Maddie will be found and that the McCanns eventually find peace…even although…if that miracle were to happen…I believe the McCanns will continue to punish themselves for everything that’s happened. EVERYTHING you know about this case you have heard or read…..the same as me……yet you have decided that I’m guilty of something just because YOU have a different opinion to me as to who is to blame for this whole debacle. FOR the record…..if you can show me anywhere where I have said I am the “perfect parent” I will immediately retract that statement….but…I’m sure my only statement was to say I had never left my children alone…..ever…….if that makes me the perfect parent I think you’ll find that at least 90% of posters on here are perfect parents.
The cold….hard….facts….are……the McCanns decided to leave their children at home alone rather than pay someone to look after them while they were out eating and drinking……they are now paying the ultimate price……there is no denying it….that is the FACTS…….but you seem to think that my commenting on it…..along with quite a few others deserves your wrath. I would suggest you have a long hard look at yourself and ask yourself this question…..HONESTLY…..if it were a non professional junkie couple who left their kid alone to go out and get a hit…and their kid was stolen….would your sympathy be the same? I very much doubt it…….facts are facts…..get over it.
Finally……your comments and defence of the McCanns lead me to believe you condone leaving babies alone while their custodians go out to enjoy themselves…..if that is the case then shame on you….if it is not the case then ask yourself why you condone and defend their actions while berating someone for merely commenting on them.
If you would like to discuss this further….you KNOW my e-mail……in the meantime…..your slur on my character has convinced me that CQN and at least 1 of its custodians is not worthy of any future comments from me.
To all I have conversed with here on CQN….goodbye…..it WAS a pleasure
It’s a known fact tha CY only appears in a room after WS has farted .
HH
You would think dick dung wid have learned after being thrown to the lion:)) over the price “of a night ooooooot” EBT.
leave them alone they are doing a great job of keeping the deluded deluded:))
Can we drop the Madeline McCann stuff? There’s websites on that subject available for those who feel the need to pontificate about it.
iPaddy……..
Can we drop the politics too…………..it bores the arse off me on a football blog.
Thanks.
31003
git right back in here now !!!!!!!!!!!!!!!!!!!!!!!
:)))
till later all
no falling ooooot especially on such a good day on here.
ps sorry for intruding but I dont like faw oooooots .
again till tomorrow
Hail Hail
oldtim67
You certainly pressed the right buttons for some excellent CQNers today. Well played and thanks to you for that – it was good to see some of the old-timers pop in and good to see that they’re all still lurkin’.
are custodians not people in charge of ipox? or am i mixing up my custodians with my cardigans?
leftclicktic oscar in our thoughts 19:36:
May be Stockbridge will sell his house and lease back and use what he raises to pay the rental on ipox after it is sold…:)
Keep the Faith!
Hail Hail!
31003
Calm down, take a day or too too think about your decision…………………..THEN GET POSTING AGAIN!
Take care!
OldTim,
I have met you only once, about 18 months ago on a CQN post match session organised by CRC.
I can’t claim to know you well, but I would like to thank you for going some way to restoring this blog to its true self – insightful, witty and engaging.
I have been reading this blog since about 2005 , and plucked up the courage to first post something around 2010.
I have always enjoyed reading the diversity of opinion, and when I have met posters in person found them to be kindred spirits.
The reason I say all this, is that in the past 3 or 4 days, I have felt the blog going seriously downhill, with individuals pushing their personal agendas (which , as a one off I have no problem with) , or , being rude and resorting to personal insults on those who hold opposing views.
Holding opposing views is fine, resorting to personal insults isn’t
Your post today restored my faith in this blog, and I hope others think the same
It is not inconceivable that relatives of Gerry Mc.Cann visit this blog.
Whether or not that is the case, it is totally unhelpful and heartless to offer anything other than wholehearted support for their plight.
hotel de paris-as Italiabhoy is alluding to,Young must be close to being disceplined by Shortbread for blatantly lying ,allegedly, and clouding truths in the huns fiasco.National broadcaster and all that.To revisit the bollox that Murray put x amount in to Oldco has been proved to have been nonsense.This sounds like Jake and Elwood Blue’s sketch of “putting the band back together”.King,P Murray,M Murray,Bain possibly…..is Minty being given yet more favourable copy by Young to make a comeback?
Listening to Chvrches now.
I’m 46 and I love it.
sports direct on watchdog – tut tut tut
Well done the bampots:)
http://www.internetbampots.co.uk/comingsoon.html
clashcitybhoy-agree with your post last night re Lennoxtown.
Bada
When I heard the Bain back story ,I thought .
Has Bobby Ewing just put the loafer down and is about to step out the shower
micktt
19:40 on 16 October, 2013
CQN badges hard to obtain. Not sure if I have any of the 2nd edition left, but will check when I get home.
The good news is that 3rd edition badges are planned for next year, which will be 10 years of CQN.
HH
CRC
I also thought wee Chico s performance was bizarre – I have often thought that maybe moonbeams held something on certain journos- now I am almost certain hh
31003
I don’t think leaving the site is the correct response to the last coupla days.
It’s your call,of course. It will be poorer without you.
The point of putting your opinion out there for all to see and to comment on is that some will inevitably disagree.
Stay put and argue yer corner,big fella. No point in having a blog where everyone agrees all the time.
Crc- see you Tuesday – usual spot hh
http://www.bbc.co.uk/podcasts/series/scotfoot
Sportsound 16 October
Wed, 16 Oct 13
starts on croatia game then gets juicy from around 19 mins….
from 25 mins Chuck gets into his King bollox ….Tom English thinks King should not be allowed back ….Chuck mumbles and mumbles ….SFA approved it already -eh no they huvny….. blah!!
32 mins Tom English accuses Chuck of being an apologist for King
34 mins – no blame attached to Watty -“rien” then it just gets funny, then funnier when Chuck refuses to acknowledge SDM wrecked Oldco- “it was Lloyds et al.. ”
don’t miss it
This place ain’t just about football. It would help blog harmony in some respects if it was but it ain’t. Paul himself indulges in political angles. No point fighting against it. This place is organic. Was there really a CQN golden age when Ernie Lynch didn’t insult other posters? “Yes sir, one can relate to a well made point”. I doubt it.
Chick Young’s big issue, apart from being a bit thick, is that he can’t comprehend people getting involved in football for reasons other than football.
It was a vanity project for SDM and a cash cow for everybody since. None of them was doing it for any reasons other than their own benefit.
31003
Get a grip pal………opinion’s we all have one, Mrs valentinesday
is in your camp……am no……we’re still sharing the same bed.
johann murdoch
20:22 on 16 October, 2013
Will be there around 4ish?
HH
CRC
Bada Bing
Listening to Young obfuscating and then telling lies re King’s tax evasion was cringeworthy
Blatantly lied about the sums sought and tried to assert that it wasn’t a criminal matter
Just a wee difficulty that has been resolved …..
Not quite the same as a criminal prosecution for £250m worth of tax evasion
His assertion that the SFA wouldn’t have a problem with King as a director was the shameless planting of a story intent on manipulating the SFA ( not that they require much of that )
Oldtim
Just read your post from earlier today.
One word…………Brilliant!