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Standards required by AIM. Oops.

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By on CQN BLOG & Comments

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.

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  1. MickTT on

    timsinohio & weeoscar never walk alone

     

     

    20:32 on 16 October, 2013Micktt,

     

     

    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.

     

     

    That would be great, will get in touch.

     

     

    Thanks

     

     

    HH

  2. Papa John supports Wee Oscar on

    Tallybhoy

     

     

    Sincere condolences to you and your family, God Bless, and may he RIP.

     

    Papa John

  3. Doc is supporting Oscar and McKenzie. on

    CowieBhoy:-)

     

     

    And Miss Doc still speaks highly of OldTim67:-)

     

    I read some of the post to her and Mrs Doc today, both were very impressed, especially after the last couple of days with the criticism of victims of crimes, and how he single handedly changed the mood of the blog, clever dude.

     

     

    OldTimplayscupidCSC.

  4. Bhoylo83 on

    Tell me it isnt true has sammy cut off his flowing locks??

     

     

    I was inconsolable wen henke did it all those years ago..

  5. oldtim67 on

    Malorbhoy.

     

     

    I’m hoping to get in around 12,55pm @ Buchanan St bus Station, it takes me around 12 minutes to walk to my first watering hole, corner of George St and North Fredrick st, it’s called the Italian Bar,I’ll have one G&T then I’m off again to Baccus in Glassford St,about 5mins walk from the last bar,there I shall have another G&T, then cross over Garth St and enter the Blane Valley,for another G&T, walk along Garth St and have a G&T in Rab Ha’s. Then head for the Citation and have another G&T then Head for BBs, there we shall have a drink with whoever is there, we may pick up a few CQNers on our travels, do you fancy it.

  8. Kojo on

    TallyBhoy

     

     

    Sincere condolences to You and Your Immediate Family.

     

     

    I know exactly how you feel.

     

     

    May you Father ..Rest in Peace.

     

     

    Kojo

  9. hun skelper on

    Can someone put up a link for tonight’s shortbread podcast, can’t seem to find it.

     

    Thanks in advance HH

  10. lennon's passion on

    1/2: @Pmacgiollabhain: RT @bbckennymac: @AngeBlue55 @pkelly67 @ScottishFA Someone involved with SFA was listening and contacted to say they were very unhappy with chicks comments

  14. oldtim67 on

    Summa of Sammi.

     

     

    Ps..What’s a Comma..?

     

     

    I’m on the verge of going into one at this moment,better take my medicine.

  18. fergus slayed the blues on

    oldtim67

     

    I would be tempted to come along but I think you just want someone to carry you to BBs

     

    HH

  19. Awe_Naw_No_Annoni_Oan_Anaw_Noo on

    Tallybhoy

     

     

    Condolences. He never leaves he talks to you every day and the brain ekes out more and more of those forgotten memories.

     

     

    Thoughts with you and your family.

     

     

    HH

  23. Che (Standing Beside Wee Oscar) on

    Doc

     

     

    let me know when your up at stobhill, i cant get yon mydonate thing to work

     

     

    either im a technophobe or mrs che has cleared me out again with another booking

     

     

    HH

  24. Morrissey the 23rd on

    Condolences to Tallybhoy. Losing my Dad was the hardest thing that ever happened to me. Be strong.

  30. Malorbhoy on

    Oldtim

     

     

    I have just Facebooked you what a great photograph, I am well up for it as you say will phone you when I get into Glasgow

     

     

    lennybhoy

     

     

    Will probably meet you in same with OT

     

     

    Tallybhoy

     

     

    Sincere Condolences

  31. oldtim67 on

    Burghbhoy.

     

     

    No I’m flexible, But I’m not a great beer drinker, I try not to mix my drinks,but I will be having some wine with the meal,Gin ‘s good for my head,no hangover the next day.

  32. fergus slayed the blues on

    If I was CG I would demand the money back I paid for Ragers history as the whole of the MSM/SFA keep re writing it .

     

    HH

  36. oldtim67 on

    Morrissey the 23rd.

     

     

    Was that in Wishaw, we were heading for the Commercial Hotel,you should have joined us.

  37. DJBEE on

    Think SFA might be peeved that the BBC representative are saying the SFA have spoke to Sevco and everything is Cosy regarding King

  40. Morrissey the 23rd on

    BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS forza Oscar and Mackenzie @ 18:13 13th

     

    When does everyone want to meet-up for the next CQN day oot?

     

     

    KevJungle – Murdo’s 30yd Title clinching boots 79 @ 08:02 on 14th October,

     

    Cheers! We need to fill the AGM with supporters of the resolution. We need to make Celtic aware that on certain issues, the support decide and not the board. Fair governance of the sport is one.

     

     

    lynott67 @ 08:34

     

    Thanks for your support. See you at the AGM.

     

     

    blantyretim is praying for the Knox family @ 08:48

     

    I think we’ll all like a drink after the AGM. Who’s organisng that?

     

     

    Parkheadcumsalford @ 08:52 on 14 October, 2013

     

    If you cannot attend the AGM. Please vote or give me your proxy vote ASAP.

     

    Morrisseythe23rd@aol.com

  41. Che (Standing Beside Wee Oscar) on

    Doc

     

     

    text me the day before if you can, next weeks diary makes about as much sense as sevcos accounts

     

     

    HH

  42. Jobo Baldie on

    Talking about cheese, I bought the DVD of Tutti Frutti today. Loved it when it first aired, oh, 25 years ago and hope that it has aged well.

     

     

    I’m sure the opening graveyard scene (featuring a rather inappropriate acapella version of ‘three steps to heaven’) features Celtic Park in the background.

     

     

    Enjoy the evening and if you must argue, keep it civil please.

     

     

    Jobo

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