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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valentinesday your sharing a bed with 31003?
mrs valentinesday wont be pleased
Micktt,
I have 1 extra of each of the two 2012 edition badges. I purchased them from CRC for a good friend who passed away before I got to see him. You are welcome to them for a donation to either the Wee Oscar Campaign or The Kano Foundation. You can get my e mail from Paul67.
MurdochauldandHay & Wee Oscar 20:19:
Superb, shared it on twitter…:)
Keep the Faith!
Hail Hail!
Oldtim
magnificent post today, hope one day soon to catch a pint
hugh keevins clydebanks answer to david leggat
chick young a poor mans hugh keevins
ff alert but it’s worth it to see that the response to the accounts has a highs and lows section – couldn’t make it up
http://www.followfollow.com/news/tmnw/rangers_accounts__operation_highs_and_lows_808755/index.shtml
Che (Standing Beside Wee Oscar) 20:31:
Got your e-mail and received with thanks.
Keep the Faith!
Hail Hail!
“Where’s ma Tunnock’s Teacakes? Whit,I canny hear ye,I’ve got Led Zeppelin turned up to eleven again!
Are you sure you don’t wanna join me and the lads for a wee game of poker,we’ll go easy on you?!”
I never met TALLYBHOY’s Dad. But if I did,I figure the above is pretty much what he would have said to me.
A few years back,he decided he wanted to see out his days in The Old Country. He was in his eighties,after all.
Tonight,sadly,he did just that,not far short of another milestone in his life.
TALLYBHOY went with him to Italy,to ensure that he was looked after,and could enjoy his time there without too many worries. The oul’ fella’s grand-daughter would make occasional trips over,too.
She has just returned from her latest one,sadly she will have to make one final trip to be with him as he starts his last journey.
TALLYBHOY and his family have my condolences,and my best wishes.
This one’s for you,Mr C. I hope you can hear it!
http://www.dailymotion.com/video/x19hn6_led-zeppelin-stairway-to-heaven_music
R.I.P.
Doc is Neil lennon,
If you’re about pal I need a link to your run page.
In a strange way, one must admire Chick for his loyalty to friends. Guess that’s what love does to people. You would want him next to you in the trenches wouldn’t you?
Just reading back….Oldtim, a great post.
pfayr-to blatantly lie,allegedly,on the public funded BBC ?Must be a disciplinery….
Was interesting to hear Jim Spence say a source told him Dave King was not too interested in going back to Sevco..
OldTim,great post,pour yourself a large one…
ACGR
Hail Hail
Lennybhoy
no thanks required.
YNWA
I occasionally see wee Chick when I’m out for a run and I’m usually tempted to high-5 him for his part in the downfall of Oldco, but for now I’ll keep on running as It seems he’s on a mission to contribute to it all over again.
Tallybhoy snr RIP
Che (Standing Beside Wee Oscar)
Poor grammer on my part…….or maybe yer jealous.
Tallybhoy..
Condolences; thoughts with you and the family, prayers to be said.
Another star in the sky and God will look after him.
RIP
KTF
cadizzy
13:46 on 16 October, 2013
WinningGemmell
“Gemmell assumes penalty-taking duties scoring Celtic’s fifth from the spot in 5-0 league win away to Kilmarnock”
Who took them before TG?….You listed a lot of missed ones. Some namesake you are…and on his birthday!
* I always thought that big Tam only missed 2 penalties, 1 at swinecastle and the other against deidco at a New Year game at CP. Then again I was out of the country in 68/69 read his book “The Big Shot” on the flight over and by the time I had landed was ready tae jump a flight back hame, that happened less than a year later.
Couple of errors on the Celtic Website page, Tam wisnae signed as a full back but a centre half and Big Yogi didnae score 5 on the day Jock was announced, that was a Sunday and we played on the Saturday and there were nae Sunday gemmes then. In fact most of us never knew about Jock until reading it in the Monday morning papers.
Tam was always a favourite with the Celtic support as like wee ten thirty he was gallus and like the wee man wisnae born a Tim but grew intae the role.
On the day I got married I was kneeling at the altar rails in St Michael’s Dumbarton, there was a wee hush as it is a religious ceremony and all of a sudden my wee bride’s 2 year old nephew chanted “Tommy Gemmell, Willie Wallace” guess who taught him that when we were babysitting.
Crc- yes 4ish hh
The CQN hordes are being too harsh on Dick (un)Hung. Let’s show some CQN tolerance to the wee shi…
Regards to Tallybhoy. Apologies for previous post being sent at that time.
Che (Standing Beside Wee Oscar) 20:39:
…YNWA
Says it all…
TALLYBHOY:
Thoughts and prayers with you all, may God Bless his Soul.
Keep the Faith!
Hail Hail!
Paul67 et al
Just got back. When I was out a guy stopped me in the street, and asks;
“Is that the full moon up there?”
I says sorry pal, I can’t help you there, I’m a stranger in these parts myself!
chicmurraycsc
Good Evening All
Regarding the AGM, I have not received my invitation as of today, so decided to phone Computershare and ask if it had been sent out, only to be told that I had agreed it to be emailed to me at some point , bottom line is told them I had not received said email and they are now sending me a hard copy so if any fellow shareholders are in the same position worth a phone call.
OldTim
Great post today I posted earlier that I am coming up early to Glasgow by train on Tuesday for the Big Dinner in the Merchant City, and if Sir Richard Bransons train is on time will be at Glasgow Central at 1301, so if you are coming in early let me know and we can meet up, any other CQN’rs in the City at that time?
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS forza Oscar and Mackenzie
20:34 on 16 October, 2013
Not unexpected but nonetheless sad news. May he rest in peace.
Tallybhoy
Such sad news about your Da.
May he rest in peace.
YNWA
HH
Tallybhoy
Thoughts and prayers for your loss.
YNWA
Tallybhoy
Remember the good times ….from brief discussions I know they are many
HH
Tallybhoy-condolences
Just listening to the BBC Sportsound podcast again.
Chic’s performance utterly utterly unacceptable actually. If I was in charge of the sports department I would be seriously concerned at this performance on so many levels.
Not only factually all over the place, but clearly emotionally involved as a fan. Highly-pitched voice, quick to anger, passionate defence of Water and King…
Billy Dodds not much better.
Tom English quite sly… luring Chic into traps and exposing his total ignorance of King’s standing with the SA authorities. Actually heard him whisper “Sheeshh…!” under his breath when Chic flew to the defence of Walter.
If these guys want to peddle angles they should be identified as fans, not as impartial journalists. BBC needs to get a grip of this IMHO.
Condolences to you Tallybhoy…may he rest in peace…God bless.
Old Tim…………..I read you post at work today and it fair cheered me up, fantastic, it really was inspiring.
Hail Hail
Tallybhoy
Sincere condolences to you and yours from all your friends in Celtic.
Tallybhoy.
Condolences.
Tallybhoy
Sorry to hear about your dad, CC. May he rest in peace.
Sincere condolences to tally bhoy on his recent bereavement.
It’s a sair yin to lose your dad
Tallybhoy
Sad news indeed sir. My sincere condolences.