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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Bhoys
What is it with the the Oldtim love in….I have been in his company several times including a few sessions and found him nothing but a cantankerous auld git, who constantly buys drink when it’s not his round, forgets his medicine, orders red wine as we are leaving, brings numerous bottles of ports to restaurants…goes in the huff when someone buys his dinner…is always late and makes me late, having dragged me into yet another bar for a quick one while the bhoys are on their starter…refuses the offer of accommodation…disnae answer his mobile or texts……
See you Tuesday
Kikinthenakas xx
Oldtim67
Like to buy u a G&T some day.
Respect .
Tallybhoy,
Sorry to hear your sad news. Make no mistake your memories will sustain you.
It may not feel that way at the moment, but be assured.
YNWA.
OldTim67,
I remember that first post of yours, you Sir are CQN legend.
Scotland tonight 10.30 STV what does the future hold for sevco ? not a lot I would think
Neil Patey will be a certain guest no doubt saying how rosy everything looks going forward bla bla bla
TallyBhoy
Sorry to hear about your dad. Peace be with you and your family at this very sad time. YNWA
Tallybhoy
Sorry to hear of your sad loss.
It’s always a bad time to lose a parent -no matter what age they are nor what age you are when you lose them!
HH
Going back to Singapore next week for the time in 13 years so I am looking for info on where to watch the Ajax game. Cannot remember where I used to watch them out there but I do remember being astonished when we had scotch pies at half-time.
I would love to join the Singapore Tim’s for the game.
Tallybhoy very sorry to hear about the loss of your Dad. My thoughts are with you.
doc is supporting oscar and mckenzie.
21:52 on 16 October, 2013
Thanks mate well worth a listen.
Chick dung 1st comment about what king owed, Tom English rattles him straight away about the £240m and then it was down hill all the way for wee chick Tom English ran him about all night till he started blabbering on about marked £ 20 notes and then the Walter successful business man remark, loud laughter in studio how embarrassing for chick and auld wattie. Great podcast Celtic should play bits of it at halftime and cheer up the bhoys HH
Malorbhoy @ 20:49 on 16 October, 2013
“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.”
There has been a glitch in the electronic system and not all the notices are out.
All new share-holders who have not received their pack should contact Computershare ASAP.
How easy wud it be to get a Comfy seat at paradise for a game in new yr an any idea of costs. Have relative hoping to be on mend by then but wud unable to “rough” it as normal so this cud be a solution if can arrange Christmas present. They wud need parking at ground due to illness wud this be possible or realistic? Thanks in advance for any help.
kikinthenakas 22:31:
It’s the taking of the medicine that scares me, in Aberdour this year I walked him to the Hotel whilst the Bhoys were out on the course to get his medicine. Got to the Hotel and it will not surprise you we went to the Bar, where we spent about 10 minutes before it dawned on him that he was there for his medicene…he would argue his G&T was his medicine…:)
Keep the Faith!
Hail Hail!
Oldtim67
Wonderful post, Sir. You know I’m sentimental animal as well. You told the story about my journey to Glasgow for the game against Barcelona.
Few turning points.
I should start the story earlier, how I became CQN contributor? That was 2005 Summer transfer window when Boruc signed for Celtic from my Legia Warsaw. Just the curiosity, what Celtic supporters think about the guy? I don’t know how this happened but the site I found was CQN. Antti Niemi , Niemi this , Niemi that, why an unknown keeper from an Polish club? To be honest with you, I did not hear about Niemi before but bit of negation given to “my” goalkeeper brought my registration and my first “yeah, you know, that Boruc is…” . I remember that I said more better words about Zurawski who signed from Wisla Krakow , the club who I don’t like, than about Artur who signed from my club. Did I become Celtic supporter? I can say again what I said years ago when someone asked similar question. You need to be born in the place, get upbringing (in that case Celtic family), get manners, learn the history of the club to feel you are the supporter of the club X or Y. It’s something you live for , you rise for. Not the one to be called Celtic supporter in that meaning, but the one who wishes the club all the best, watches the games when can do this. The one who does that all and will be doing that.
I would probably leave the blog few weeks later but saw few clips with Boruc made by Rangers fans. They made him gay goalkeeper there and that got me thinking – oh, dear, what sort of people they are?
Celtic in Scotland then? Always with my best thinking, best wishes to kick the back whoever they play against.
Some time later Pablophanque sent me an email saying that he would like to come, see Poland and meet me. His question – would you help me to find hotel turned to be my question – why hotel if you can stay with us, my family in my house. What a guy and wonderful time? Cracow together, afternoon drags, Genesis, Led Zeppelin etc in the car. His well balanced, short, kind opinions – “Rangers are f*****g disgrace”, or similar balanced opinions on another topics.
Oldtim67
These few days in Glasgow were special indeed. Before that I traveled to few places, also watched the games in the other parts of Europe but not met that many nice people who turned to be my friends after. So many good stories from few days. You are right that ElDiegoBhoy is a special guy for who I have strong admiration. I owe him email or many emails. I probably know how he feels now, because I see my brother who is in similar circumstances. EDB , you are, you will always be in my thoughts, my friend.
Pablophanque in Glasgow? Special guy he was. He would give you his shirt he wore, if he thought this would make you feel more comfortable. I still have his mobile number and mail adress in my mobile. All was special, the game, meeting Paul67, whitedoghunch, SFTB, curly who looked like Peter Garret from Midnight Oil and many, many more guys.
Some funny stories. We walked from our hotel to George Square and young lady asked oldtim67 to stop and see something she was going to sell, I guess. Oldtim67 turned to her and said; I’m sorry young lady, we are Polish and I don’t understand you. You should see big eyes of the girl and consternation. Pablophanque driving the car and regularly saying to the driver of the car up front : move on you b*****d!!! That his stress on first syllable in word “b*****d”, you should hear that. It could be more stories that I should tell about that journey.
To make my post shorter, it was many who came here and who I met.
Sometimes it was – “I’m going to visit Poland, could you give advise?”
Or, “I’m visiting Oncology Centre, would like to meet you”. Then meeting with fantastic man, his helping hand given to me. You know who you are if you are around, P.
Or, Awe_Naw calling me back when I was in Germany – hey buddy, if you are around, my house is yours for the night!
Or, it was fantastic book written by Martin42 sent to me by him. The book that brought memories about my childhood, comparisons between the societies, but mostly fantastic reading about good and bad, sometimes bringing tear to my eye.
This year is not the best in my life and I find many things that are more important than the blog but even if I don’t read it, I always find time to see if everybody is safe and fine.
Kano story, Dick Byrne story, that keeps me here.
You say punctuation, commas, oldtim67? I found my Winnie the Pooh post month ago. My grammar was not good, never.
Today?
Emusanorphan sent me text few hours back, saying – did you read oldtim67’s post?
Met emusanorphan and his wife couple of times… in Warsaw. Met them on Saturday, Sunday and yesterday. Will meet them tomorrow. Can you give up CQN? No you can’t, otherwise you would not meet people like emusanorphan and his wife, or those who I mentioned above , and those who were fantastic but whose names not appeared in my post.
Hun Skelper, it would be great to hear clips at half time, played along with video of Chico being taken away by men in white coats. Demented!
Sadly, Jim Spence seemed very subdued.
Intimidation works it seems :O(.
Tallybhoy – Condolences on your loss. The great memories will always warm your heart, I am sure. He will NWA.
Gerry
Chick Young…gunning for Jim Traynor’s job…
FLEAGLE…
Apologies for no selection in your tipping competition last Saturday.
Close family funeral obviously put such things out of my mind.
Tomorrow I head for Donegal, so again I will not be around to select.
Maybe yourself or any of the other participants would put me down for OLYMPIC GLORY in the 3.30 Ascot to avoid missing out again.
I still have not found a winner. Maybe the answer is to make my selections 3 days early. :¬))
Thanks for the efforts you put into showing why very few of us should be punting.
Best wishes to everybody taking part.
Z
Always a pleasure to hear from you.
All the best to you and to Legia
Tallybhoy
God be with you and your family.
Tallybhoy
My deepest condolences. My thoughts are with you and family.
cultsbhoy loves being 1st forever & ever
22:49 on 16 October, 2013
Sounds like it to me, good spot HH
scotlands shame-excecutive packages for home games are on club website mate.
….pfayr supports weeoscar
20:30 on 16 October, 2013
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 )
You as correct my friend, but what is important for everyone on this blog is to remember that at this stage…….while we just comment amongst our selves, never even interrupt your enemy while they are destroying themselves from within….I love the stream from the SMSM…..
Lennybhoy
Aye, he’s an easy man to lead you astray….hope to see you on Tuesday.
There are many top bananas on here and I won’t embarrass ye…but you are one…as are several others I have had the pleasure of their company….a great bunch.
Kikinthenakas
malorbhoy
22:15 on 16 October, 2013MickTTYou are more than welcome, I am sure I speak for Oldtim, although later on we may be speaking fluent Ethiopean or however you spell it.Just a thought if more turn up are we in danger of getting Kettled when we are on the Move
oldtim67
22:15 on 16 October, 2013MickTT.It wouldn’t be any trouble,if you fancy a pub crawl before the heavy stuff begins your welcome.
I’m off that day, so will note the beer hooses and hopefully catch up, cheers
HH
So sorry for your loss, Tallybhoy
Whers the link for the laff in??
thoughts and prayers for you tallybhoy
unionist dizny geddit
blog celebrating Chuck Dung’s contribution
no complaints wee man yer playing another blinder
Fair play to Tom English on shortbread tonight..he could not have outed Chic Young any more than he did. It was one of the most incredible barefaced stonewalling defence of Hunco by any ‘journo’ I’ve ever encountered. Young should resign and join Traynor…officially.
Mr Z,
Fine post..As Artur would say…L
zbyszek,
Lovely heartfelt post. A credit to you and your team.
Hail! Hail!
I think young Chuck may have made it a wee bit difficult for the SFA to now give King their backing, not saying they won’t, but he has highlighted something that was just drifting along quite nicely… well apart from on here..
HH
Oh dear! I had read a lot of the comments about chic’s view of the world on shortbread tonight, but the reality was well ……..simply unreal.
Poor chic, Tom English played him like a kipper.
Bada cheers wife had looked there but is on lap top an I’ve not had chance to look yet, Will check there. Thanks again
Zbyszek, well said, great memories.
Spoken like a true Tim.
kikinthenakas 22:53:
Will let you know over the weekend what my plans are for Tuesday mate…your no bad yourself…
Keep the Faith!
Hail Hail!