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:
[calameo code=00039017122aafd9859a6 lang=en page=126 hidelinks=1 width=100% height=500]
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jude2005 is neil lennon \o/
22:55 on 16 October, 2013
Whers the link for the laff in??
Page 12 prepare your sides to split, fast forward the 1st 18mins HH
31003
Why ur ye leavin’?
So.. Some Guy oan here, gave ye a Mild Reprimand?
And.. Believe me . .It Wiz a Mild Reprimand.. Ah kin Tellya!
It is a well known fact..
If.. Ye Buck the Tiger.. meaning.. Submit an opinion that is Contrary tae the over-riding.. Majority Opinion… that is extant oan this Blog .at the time of your Submission.
Then..
Haud oanta ye Breeks!
Ach.. Ye don’t hiv a case,pal.. Ye are Making a Mountain oota a Molehill.
So ye Clashed Heids..wi sumwun….and Ye feel that You Goat a Raw Deal.
Get Over it!
That is whit a Public Form is awe aboot.. Thank Godot …
Unless, there is ..at Least. An Occasional Difference of Opinion..
It wull Die..
Too Much Sugar..is nae goot fur the Body Politic.
Come oan Back…
and
Fugggetttabooooooooooootit!
Kojo
Still,Laughin
Jude2005, here you go.
http://downloads.bbc.co.uk/podcasts/scotland/scotfoot/scotfoot_20131016-1919a.mp3
night night bhoys
as long as paul thinks and types and will have me I’ll be on cqn, touch wood.
Mr. Z
You are a top man Sir!
PolskaCSC
Just had an email titled
BT at home…
Expected photos of dressing gown, cravat, half moon specs, brandy and cigar in hand, feet up being feted by Mrs and Mini….
Then I realised it was an increase in telecom charges!
Kikinthenakas
from TSFM.
Enough is enough!
Here is the text of the letter I am now this minute going down to the pillar-box to post, even though it’s pissing down.(As ever, real name and address supplied)
“Ewan Angus,
Head of Sport,
BBC Radio Scotland,
40 Pacific Quay,
Glasgow, G51 1DA
Dear Head of Radio,
Re: Mr ‘Chick’ Young, of BBC Scotland ‘Sportsound’
————-
Freedom of speech is cherished by me as much as by any broadcaster or newspaper journalist.
But freedom of speech does not extend to freedom to misrepresent and/or tell lies.
I wish therefore to complain in the strongest possible terms about the outrageous attempt by ‘Chick ‘ Young, on tonight’s ‘Sportsound ‘, to mislead the listening public as to the guilt of Mr Dave King, as a convicted tax evader in the republic of South Africa.
In spite of being corrected in point of fact by fellow panellist Tom English, Mr Young continued (excitedly, almost hysterically) to imply that King had, by ‘settling’ with the South African Revenue Service, not been convicted of any crime, and that there was therefore no question of him being considered as being not ‘fit and proper’ person in the eyes of the Scottish football Association.
The South African court records show that King pleaded guilty to scores of charges of tax evasion, but managed, by plea bargaining- including arranging to pay some considerably lesser sum than the total that was actually owed- to avoid several jail sentences.
He therefore has a criminal record, in South Africa.
If Mr Young is ignorant of that fact, shame on him as a journalist (and shame on you for employing such a useless person).
If he is not ignorant of that fact, then he should be instantly dismissed as a heavily partisan purveyor and disseminator (courtesy of our BBC licence fees!) of untruths in a matter of considerable public interest.
Further, the same Mr Young asserted that he knew that the SFA had already been talking to Mr King and had assured him (King) that they would have no objection to Mr King being involved in a boardroom capacity in a Scottish football club.
This outrageous statement was too much even for his fellow panellists, one of whom actually checked with the SFA and got a flat contradiction of what Young had said.
I must ask you to investigate this matter rigorously and urgently, and deal with Mr Young as severely as his outburst of partisan, misleading propaganda deserves.
Yours sincerely,
(real signature) “
braw!
Thanks, Zbyszek.
I owe you a large visnovska.
Celtic Mac.
Just ask if there is a spare ticket out there for the Ajax home game,you never know your luck,there’s maybe one spare available somewhere.
Zbyszek,
A fine post and an end to the day.
It is post like yours and Oldtim67’s that will stay with us here. Thank you
A really Braw letter!
NotholdingourbreathCSC
Awe_Naw_No_Annoni_Oan_Anaw_Noo @ 09:34 on 14 October, 2013
“The Daily express was Moonbeams first port of call.
Has this journalist penned anything else ? Does he exist ?
How does he know the boards stance.
What is always glossed over is the LNS verdict. Its a but of a misnomer to always call it the LNS verdict as it was in fact a panel of three men. The other two being very learned gentlemen QCs and indeed very ambitious.
One of them has been on the UEFA board of licensing for two years the other on the UEFA board or comttee for FFP.
So if Celtic expressed surprise at the verdict.
Why would they not wish for a UEFA investigation?”
– I will ask Celtic direct.
CultsBhoy loves being 1st forever & ever @ 13:06 Oct 14th
– Yip! The days of us acting like a batter woman is over.
Doctor Whatfor @ 13:47 on 14 October, 2013
“A question for anyone who knows the answer.
I purchased a small amount of ordinary shares. (Around £100). Can I attend the AGM? If so how do I go about getting invited?
And yes I know that those are 2 questions.
Anybody?”
– Contact Computershare
Dharma Bam \o/ stands up for Neil Lennon @ 16:49 on 14 October, 2013
“I wonder if the changes to the resolution are connected to the amendments Morrissey 23rd was told about when he submitted the resolution in person?”
– There has be no changes. There was some confusion I see and I was confused too but I have no idea what you mean about you mean. Celtic never mentioned making any amendments. Sorry for whatever caused that confusion.
Che (Standing Beside Wee Oscar) @ 16:51 on @ 14 October, 2013
“canamalar prays Oscar can do it again
email sent to computershare asking when the online proxy was closed, and why it was closed prior to shareholders receiving AGM papers, will let you know what they come back with”
– This is a technical issue that is currently being addressed.
TBJ Praying for Oscar Knox @ 19:05 on 14 October, 2013
“Celtic (keep) Quiet News”
– Very funny.
canamalar prays Oscar can do it again @ 19:26 on 14 October, 2013
“What legal action would that be then, sounds a bit of a scaremonger answer to me, the CFCB should have been informed immediately the SFA granted the license, there is no possible legal action could have come from that.”
– It will be us who take the legal action if the board just choose to ignore their share-holders and supporters. ;)
ernie lynch @ 20:57 on 14 October, 2013
”Celtic pursued the licencing question as far as they were permitted to do, this is quite different than insisting Rangers (sic) were dealt with fairly. The SFA are not interested and Uefa are not interested. As a result of this resolution, this issue can be properly examined in front of the supporters.”
#####
“I suspect some of us think we are being fobbed off.
There’s no need to wait until the AGM, where time is tight and there’s a lot to get through and discussions must unfortunately be curtailed etc etc etc.
Why don’t the board give us chapter and verse now on what steps they took and what the actual responses were from the SFA and UEFA.
How long would it take to put that together and release online?”
– I’ll ask Celtic directly when I meet then next week.
angelgabriel @ 23:31 on 14 October, 2013
“Excuse my ignorance on this matter.
A very good mate is a shareholder.He never misses a Celtic
game in this country.I told him at the weekend about
Canamalars resolution.He cannot make the AGM.
He does however want to support it with a vote.
What are his choices? Vote by post ? Or can someone
represent him at the AGM ?”
-It is best is someone acts as his proxy and attends the AGM.
Make sure it is done correctly. I am checking out how to do this to ensure no mistake is made. Please e-mail at Morrisseythe23rd@aol.com and I will confirm how this is done, once I know for sure.
smoke and mirrors @ 07:51 on 15 October, 2013
Proxy Notice
Online Proxy Voting is closed for this meeting. If you have any questions, please refer to the shareholder information you received in connection with this meeting.Anyone any idea why I cannot lodge my vote on -line??????????????
– This is an issue they are aware of and looking into just now. An article will be posted on The Celtic Trust site soon regarding this.
Gretnabhoy @ 10:57 on 14 October, 2013
Got my attendance card in this morning. Cannot make meeting, so who should I notify as my Proxy in order that I can vote for resolution 12, ie refer SFA to UEFA?
If you are not going to arrange someone to go in person on your behalf who supports the resolution then e- mail me at Morrisseythe23rd@aol.com. If you are getting someone to do it. Please make sure it is done correctly.
Big Nan @ 11:02 on 14 October, 2013
“Canalamar, am I right in assuming that the shareholders who supported your resolution application are automatically counted as part of your vote?
I know this is a moot point because DDs share will always carry the vote.”
– NO! You must vote on each resolution at the AGM.
canamalar prays Oscar can do it again @ 11:08 on 14 October, 2013
“Big Nan,
Anyone whose signed copy was issued in support of the resolution have given their proxy on the resolution, however it would be better if everyone showed up and voted”
– No. They need to vote at the AGM.
Philbhoy – Bring it on!!!! @ 12:44 on 14 October, 2013
“The Board saying “vote against the resolution” is like a red rag to a bull!
I think I could attend this meeting.”
– I agree. You should.
The Green Man @ 13:04 on 14 October, 2013
“I was going to have another rant at the board for the silence on the cheating of sevco and friends….but seeing they are well aboard the good ship Old firm and don’t care who knows it…whats the point.
I will say though..that this board is just the same as the old biscuit tin mob, worse if the rumours are true, and if they want to help the very same peepul, have who spent their whole lives hating us….well, carry on
This isn’t the Celtic I knew and loved.
You can keep yer Old Firm, and ram it.
HH
Keep the Faith!
Hail Hail!”
Attend the AGM.
Hamiltontim is praying for Oscar @ 17:15 on 15 October, 2013
“Can anyone who’s a shareholder attend the AGM?”
– Yes. With your attendance card you should have received this week.
jackie mac @ 19:23 on 15 October, 2013
“agus morrisey”
Eh?
BIG-CUP-WINNERS
23:11 on
15 October, 2013
geordie munro
Honestly matey that is vile. You have no idea how difficult it is for the unemployed just now. There are few jobs, with many chasing them. Meanwhile a government responsible for the economic disaster persecutes the poorest.
Your observation about rewarding people who get off their lazy arse is so wrong on so many levels.
ACGR Supporting Big Nan’s Reveal the Masonic Judge Petition
13:41
Sorry to hear that. Hope you get a break now that your holiday is over.
31003 @ 19:56 on 16 October, 2013
– Take a break by all means but I don’t get leaving because people don’t agree with you. I’d live a very lonely life if I did that.
MurdochauldandHay & Wee Oscar @ 20:19 on 16 October, 2013
Well done the bampots:)
-;)
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.”
– Great advice.
Neustadt-Braw
great letter – I’m emailing him
Tallybhoy
I’m very sorry for your loss.
TT
Zbyszek.
I’ll mail you soon, maybe tomorrow,That was a great post by you. glad you met up with Emusanorphen and his good lady.tomorrow,Mail.
Tallybhoy,
My condolences on your loss
I would ask you support all three of these resolutions:
https://www.facebook.com/photo.php?fbid=10152284938319348&set=a.494874444347.282794.654304347&type=1&theater
I would also suggest you join http://www.celtictrust.net/
Tallybhoy.
Very sorry to hear about your loss.
Pantomime time on STV right now…..
Information on Celtic AGM Mailing
Published on Wednesday 16th October, 2013 by Celtic Trust
There has been some concern about some shareholders receiving their AGM papers while others are still waiting for them to come. The Company Secretary confirmed today that these papers are sent out in phases to avoid swamping Royal Mail, and that the mailing which began last Friday has now been completed. Therefore all shareholders should have their papers by the end of this week. Remember the papers will be sent to the address at which the shares are registered so if you have moved and have not informed Computershare of this then the papers will go to the old address.
Unless you have requested it you will not receive a hard copy of the Annual Accounts However these can be accessed online. It is hoped that this system will cut down waste.
The Company Secretary has also been made aware of the difficulty some shareholders are having trying to use email to proxy their vote. He will ask Computershare to look into this but assures us that proxies will be accepted until 14th November, the day before the AGM.
Remember to vote in favour of Resolution 10: Corporate Governance Working Party and Resolution 11: Scottish Living Wage Employer which were proposed by the Trust. You may also wish to support Resolution 12: SFA and compliance with UEFA licensing requirements which was proposed by a group of small shareholders.
The Board has deemed these three resolutions “to be unnecessary” and wants people to vote against them. You can cast your vote either in person at the meeting on the day or proxy it with your wishes stated. If you are using the latter method you can name the Secretary of the Celtic Trust as your proxy or instruct the Chairperson to cast your vote in the way you wish.
You only proxy your vote, your shares remain in your name and control and you only proxy for one AGM at a time. This is why it is important to renew your proxy each year.
Deeply saddened by your loss, Tallybhoy.
May he rest in peace.
Tweet from Celtic Trust.
http://www.celtictrust.net/?func=d_home_article&id=437
Mr. Z
Good post – shame you Bhoys didn’t make it over for last year’s Barca game.
I’m meeting up with TET and ACGR in Barca for the December game (we will be there for a few days) – give us a shout if you are planning on going.
H!H!
No bad by the way
Mr Z.
Time for me to go…for now.
Until we meet again…
Keep the Faith!
Hail Hail!
Right,
i’m off to bed with Chic Young.
I’ll re-phrase that,
I’ve downloaded the shortbread podcast from earlier so time for a quick snigger under the blankets.
That didn’t sound right either. ;))
Tallybhoy,
Sorry to hear of your loss. As long as loved ones remain in our hearts and thoughts they will always be with us!
Zimmerman, it’s your business mhate, not judging!:-)
Been speaking to a few folk about certain evenys — eh If I were Chic I would be very very embarrassed about he said tonight.
The Judgement on King is very damning for a civil judgement — describing him as a glib and shameless liar was the kindest thing they said about him.
Beyond that, he has plead guilty in a criminal court to criminal charges so go figure.
He has also had to sell assets in South Africa to raise funds to pay the fines so he is not likely to fulfil Chic’s wish of him being a sugar daddy.
However, no matter who is on that board, ownership of the shares remains the same — in the hands of people who are not known to anyone at Ibrox.
A loata You Guys oan Here..
The Wans who insist that Mr. King Qualifies tae be.. Well. . DISQUALIFIED..
tae sit or staun.. oan the Latest Sevco Board.
D’ya Remember, whit Sir Paul Voiced.. when he quoted… that …well.. Quote ….of Napoleon’s?
Sure ye dae.. Ah remember it weel..as Ah like that quote… Aloater!
Here it is.. tae jog yer Memory..
“Never Interrupt yer Enemy.. WHEN HE IS MAKING A BOO BOO!”
and if ye Dae..
Then Ye are Making a Big Mistake!
Ah wid be happy as a Tom Horner wiz… if Mr.King becomes a Sitting or Standing Member of the Sevco Circus.
Fur.. As the Saying goes. .a Leopard Canny change it’s Jersey.
and Neether kin Mr.King.
Ah wid welcome Mr. King tae become a Member of the New Sevco Board.
Fur ..it is Obvious , tae me..
That…
He is fresh oota Funds..and He sees that He could replenish his shrinking Financial resources, by Doing a Number oan his friends in Govan.
Kojo
Still , Laughin’
Proxy votes for the Celtic AGM will be accepted up until the 14th.
zimmerman
………….. as long as it’s just wee Chico tugging his forelock!
:-)
Just the beginning
praecepta.
I’m intending to meet up with The Exiled Tim & ACGR at some point in Barcelona,will know doubt meet you at the same time.
Was Chick no involved in some love scandal years ago ?
Bit of a stud by all accounts >}……….or so they tried to make out, just the thot of it makes me cringe.
No accounting for taste.
HH
Gotta Go ,Joe
Seeya
Kojo
Still,Laughin’
I just caught up with Scotlland the nicht on Stv. It was encouraging to see that they have found a new rangers spokesman in place of Chris and the Fatman. (Not that tonight’s version was sylph like!)
I actually felt there was a bit of realisation kicking in, and that things might not all be great in their wee garden. Dick Wilson of the Herald appeared positively crestfallen the other guy supposedly the rangers guy a bit more realistic.
Oldtim
You will need to send me your mobile number.
You have mine.
HH