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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JIMTIM
While I canny disagree with your comment about the corruption simply wearing you down,I canny see why you think not going to the games is the answer.
Though I respect your choice.
Get along,meet up with your old pals,argue like f-sorry,discuss events with them,and reconnect with your love of the club.
Celtic is in your soul.
Oldtim
I tried to catch up with you at BB’s on the day of the Barca game, as you had posted that you were dropping your case off there.. but unfortunately , the timing was out.
I’m thinking of taking Tuesday afternoon off, so let me know what your’re up to and I’ll try and catch up with you and any other CQN’r who feels like a beer …
Take care
glasgowdave.
Tommy Gemmell, Julio Iglesias (?), Pope John paul 2 – whats the connection?
BMCUW
Wee story…
Even though I’m from Craigneuk I only ever met Tommy Gemmell once many years later. I was a youngster and he had just bought the Lady of the Lake pub in Bridge of Allan. It was around Christmas time or something. Decorations and balloons everywhere. There were too many sycophants that night I never got a chance to talk to this legend. As I was walking out the door with 2 friends I grabbed a balloon.
Tommy: “Heh Kempes! bring that Rangers player back here!”
I swear. We talked for an hour.
Interesting fellow.
Hmmm
So old tims first reply was about punctuation???
So no-one has ever asked him the million dollar question?
Well old Tim, are ye?
Kidding mate. Great post.
Oldtim, a remarkable post from a remarkable man.
Chris
WINNING CAPTAINS
I pointed out to my family and friends at the time of The Good Friday Agreement that the loyalists in Ulster had lost,based on what they had before.
That they would see that as an attack on their “traditions” which they see as a right.
They saw themselves then-and let’s be honest here,the hun hordes view themselves the same way-as being backed into a corner,forgotten and unloved.
Well,guess which corner they reckon they can do some damage from?
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS forza Oscar and Mackenzie
14:20 on 16 October, 2013
JIMTIM
While I canny disagree with your comment about the corruption simply wearing you down,I canny see why you think not going to the games is the answer.
REALLY ????????????????????????????????????
Guess what mate me and you disagree VEHEMENTLY yet again :-)))))
I still love you mind.
This debating lark on CQN is getting very very particular
HH
A wonderful posting old tim 67
gallowgate- they were all custodians of the ole onion bag
GALLOWGATE MAD SQUAD
Goalkeeper,though I canny remember the one when Tam went in goal as cover.
correct – too easy – went in goal for sending off
Sannabhoy& Dontbrattbakkinanger::
Thank you both but if I could draw a comparison, one that George would appreciate: A Trade Union is only as strong as the Members. CQN is as strong as it is thanks to you and your ilk.
Just received a couple of envelopes through the Door, oldtim as I know you are around and to goldstar10 received with thanks.
As it stands today the amount of £1,159.30 will be donated to the ‘Mini St. John Doyle’ Fund. The day after the Ajax game will be totalled and sent off to Linda.
Keep the Faith!
Hail Hail!
aye Happy 70 to Big Tam…His was the first Celtic Book I had the chance to read…Big Shot,in the foreword I remember him saying about the cover photo “that,s me in the middle” hahahaha his wee dug and his 12 bore…funny what you remember.Braw
Thank you Oldtim, enjoyed your post.
CQN – Més Que Un Blog…
AWE NAW
Do you know,I was gonna put “Just as I do with AWE NAW” after the bit about respecting JIMTIM’s opinion.
Honest.
And I do. I understand why you both feel that way.
But being with Celtic fans before during and after the game is the perfect GIRUY to those who would wish us gone.
The board problem we broadly agree on,that is a wee bit more difficult to sort.
Bmcuw
My wife is from Kilwinkie
OldTim
I remember that first ever post!
It was the retort about commas and full stops that sparked a fairly poor memory to life, I cant believe I can.
I remember reading it at the time and becoming immersed because from the first ‘sentence’ onward, aided by your blog name, you could literally see and imagine the personality writing it whilst reading a computer screen.
Something very difficult to do and therefore something only very few ever accomplish.
It was very much along the lines of how you have summarised it today yourself, an old guy with the audacity to look at one of these computer thingys those young folk keep talking about and it took every word about a minute to type looking for all those damned letters not in alphabetical order, so sod the sentences, commas and full stops!!
In the tine since, your online grammar has surpassed most of those far younger than yourself, however that original and distinct personality is still very much there. I can still almost visualise you sitting at your computer screen typing (even to the extent I read your posts with a Bertie Auld type Glasgow accent in my head (dont know where I got that one from but anyway!!))
Great post mo chara.
A great testament to those who say that life only begins at…. what age was it again!?
(and believe me that is quite pertinent to me personally, because I am a guy, who is ‘celebrating’ his 33rd birthday today, and currently trying to reignite a 15yr dormant 11 a side soccer “career”, with a current come back track record that currently reads;
105 minutes of action across 2 games.
Debut come back game – own goal scored after 5 mins.
Come back game no.2 came to a premature end 15 minutes in, with a pulled hamstring playing against ‘our’ under 19’s in a pre season friendly (when the hell did they get so fast!!)
Come back match 3 is almost certainly going to start on the bench this Saturday!!)
So hail hail for making an old man feel that there is still time for him too!! (i’ll be a Cel’ic player by Xmas)
BMCUWP
Next Old Firm game if none of us turn up. It will be sorted ?
HH
What’s peter lawwell doing about Mather’s resignation ?
Why haven’t the Celtic board released a statement ?
P’raps the Guid Ship Sevco should appoint a new director with experience in their key performance areas…Money Saving Expert man Martin Lewis springs to mind.
He can fair clip the ole coupons…
HH!
hun skelper
pish post
glasgowdave.
It’s the same procedure next week, I’ll be in BBs to drop my bag off, then a bit of a slanging match with the guvner, all in fun of course.
There’s a squad of us going for a meal and a few drinks, but there hasn’t been any info forthcoming yet, there may have been as I haven’t been on the blog for a while,but I haven’t heard anything yet.
It’s a good day, if you fancy the meal, fine, if you fancy the meal and a few drinks,even better, I usually get into Glasgow around 1pm , I have a pub crawl to BBs, stop offs, the Italian Bar, Baccus, Blaneys, Rab Ha’s ,Citation, then the start of the serious drinking commences after that.
‘A Trade Union is only as strong as the Members. CQN is as strong as it is thanks to you and your ilk’
-bags I be Mick McGahey.
BMCUW- Sorry bud, work getting in the way of blogging ;-(
Haha, close enough description though. Wife described the look as “gay brazilian lumberjack”. No offence to all you GBL’s out there.
Also had SOAL to thank for actually meeting up with the crew, cheers man!
Awe_Naw_No_Annoni_Oan_Anaw_Noo:
The next auld firm game I doubt your kidneys would get you a ticket if the u17’s at Firhill is a fair benchmark.
As a long time lurker and occasional poster,I have to admit that the general tone of the blog over recent days has been getting me down. Oldtim’s post however reminds me what the blog is all about and really raised my spirits. Thanks Oldtim and well said that man!
kitalba
14:40 on 16 October, 2013
Why ?
There expected to release a statement on everything else why is this different
Just seen this posted on the Celtic FC Facebook page:
Enzo Luciano:
“i’m just curious, where r all u Hoops fans from? i’m from East Malaysia. cheers.”
Interestingly, so far about 90% of the respondents live outside Scotland.
hun skelper
14:39 on 16 October, 2013
What’s peter lawwell doing about Campbell Ogilvies non resignation ?
Why haven’t the Celtic board released a statement ?
Ah cos they backed him and his organisation.
Not surprised you did not notice wi that handle or is it playful sexual skelping we are really talking aboot here ? I think that question demands an answer :-)
HH
Hun skelper
If Mark Guidi is to be believed …( he’s not!) then the board have already released their statement via PB and CQN leader ??
oldtim67 14:41:
It’s the same procedure next week, I’ll be in BBs to drop my bag off, then a bit of a slanging match with the guvner, all in fun of course…
…It’s a good day, if you fancy the meal, fine, if you fancy the meal and a few drinks,even better, I usually get into Glasgow around 1pm , I have a pub crawl to BBs, stop offs, the Italian Bar, Baccus, Blaneys…
Blaneys, do you mean the BlaneValley?
Keep the Faith!
Hail Hail!
BILLY BHOY 05
Roughly what age?
Gonna get you into bother wi that one! Don’t answer,Pike!
kitalba
14:44 on 16 October, 2013
aye kit Brain washing OUR children they urnae daft
Well thats their hope I suppose.
HH
Dontbrattbakkinanger 14:42:
You don’t wear Glasses and you have the wrong colour of hair but if you want to be…:)
Keep the Faith!
Hail Hail!
Eyes Wide Open:
Just for the record and CQN archives whilst Ol’tim is on I did congratulate him on his first post and I Did mention his lack of punctuation but it was done tongue in cheek and in the same day if nopt the same thead explained that grammer and spelling and pronoun abuse meant nothing to me at all it was more what a poster had to say rather than how accomplished he was at English that meant the most to me. Since that day there is not a single poster on here that I have more regard and affection for than ol’tim. I’ll let him tell you what he thinks about me.
as for grammar and speeling and punctuation, if I me, that’s for pendants.
Oldtim
Time off is booked.. I’ll be in touch.
And yes, if I have any hope of seeing the game at all, then food is a good option
Cheers.
minx1888.
not like you to keep under-cover for so long .
getintothem.
oldtim67
fabulous post.great reminder of this big Celtic family.
will be in town Tuesday hope to bump into you and a few other CQN Celts.
Hail Hail.