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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oldtim67 14:41:
You trying to do a Pablophanque on me, please think before you post…:)
Keep the Faith!
Hail Hail!
I heard that CO is waiting on winning a bet after the next OF game.
hun skelper
no they are not, I reiterate, pish post. Don’t you know that one of the blog rules is – no baiting, and if you do, and you do, then don’t go bleating to Paul if somebody takes you to task.
awe_naw_no_annoni_oan_anaw_noo
14:38 on 16 October, 2013
BMCUWP
Next Old Firm game if none of us turn up. It will be sorted ?
HH
~~~~~~~~~~~~~~~~~~~~
I’m on record as saying that I will have nothing to do with any game against them in future,bud.
So I’m with you on that one.
I won’t talk about it,blog about it,watch it,whatever.
Any game they play against us,dead to me.
awe_naw_no_annoni_oan_anaw_noo
14:49 on 16 October, 2013
Take it you can prove they backed ogilvie and the sfa.
Not sure about your last point sounds a bit weird for me maybe it’s your thing ……..
hun skelper
14:39 on 16 October, 2013
‘What’s peter lawwell doing about Mather’s resignation ?
Why haven’t the Celtic board released a statement ?’
###
I think we have to try to differentiate between the actions of the huns which affect only the huns and the actions of the football authorities which adversely affect Celtic.
I’d like to think the board would so something about the latter.
Others may have a different view.
Margaret McGill:
Don’t tell me, a double, the huns to win with ten men after Black gets sent off. But nobody thought to tell Black and he betted on a Celtic win.
KITALBA
Nice one,ya fitty wucker!
Lennybhoy.
I do.I was introduced to that bar by Richie around the beginning of this season. A 1/4 gill bar, they’re few and far between in the Merchant City,so I go there more often now.
Standards required by aims – oops; required by SFA- poops
Oldtim@13.07,
That post was absolutely terrific.
I could have read on and on for hours and I have never met,I don’t think! any of those people you mentioned.
Magical stuff.
BOBBY MURDOCH:-)
Did you just call me a bad name?
Oldtim,
What a super post and I am sure that Paul67 will secretly be delighted with it.
He will shrug off the praise, but believe me, his dad never shrugs off praise directed towards any of his sons.
He is a proud dad indeed.
I read your post and within minutes a host of golden poster appeared with comments about your post
Glasgowdave how are you and your mum and dad? I still well remember sitting with you at a few games, we won them all.
Kitalba, welcome home. I have only met you once, in BBs a number of years ago and it was so busy and noisy that I never got to talk properly to you, maybe one day.
Minx have not seen you for some time but still enjoy your posts, and a hearty congratulations on your engagement to Hamiltontim.
I have not had the pleasure of meeting him, I said this to Paul67 a few weeks ago and he said oh I’m sure you have, you maybe just did not know that he was HT. hopefully meet the 2 of you at the same time.
The Battered Bunnet, always a real treat to read your input and to meet at Aberdour.
Oldtim, I cannot say I remember your first post, but I remember your first Gold Day and the next golf day was on your birthday and that birthday cake bought from Morrisons
Well done that man, Oldtim
Great to read all the tributes to Paul67 and Oldtim.
Thanks,
Martin42.
kitalba
14:57 on 16 October, 2013
Didn’t know there was rules on here,
On here when something happens in Scottish football the Celtic board are always expected to comment on it especially when the Huns are involved that’s a FACT. I don’t care what happens to the Huns or any other team in Scotland I only care about us, the Huns used to call us paranoid it was proven we where not now there saying we are obsessed that might be harder to shake off the way people go on here sometimes.
Oldtim, topdrawer, wonderful post, had the pleasure of being introduced to you by Malorbhoy and EDB, you realy should watch the company you keep.
As St.stivs would say keep it lit ma mhan.
Bma
Bmcuw
Middle aged: Lol
TG could have went to barca but I don’t think Big Jock would let him
HH
Oldtim great post.
I am mainly a lurker on here but read CQN most day and have done for a good few years now. I have met a couple of posters on holiday and it’s like you have known them for a long time within minutes of talking to them.
I remember when Pablo passed away and his real name was mentioned I thought to myself I’m sure I know him. It ended up he was a family friend who I had not seen in years. I went to his funeral and met his family who I had not seen in years either.
It would not have happened without CQN.
I always say to myself I am going to post more and put my tuppence worth in but I am not very good at putting my thoughts into words.
HH
Mick
Oldtim67
On Big Tam’s birthday that is such a wonderful post,
I am reminded to renew my faith in CQN.
An almighty HailHail to you, sir.
ot great words and not ott
oldtim67 15:02:
I work just around the corner, won’t be able to finish at 13:00 but if you are in the vicinity about that time I’ll buy you a 1/4 Gill when I’m on my lunch, text me on the day.
Got to nip to the Bank…
Until we meet again.
Keep the Faith!
Hail Hail!
kitalba
14:59 on
16 October, 2013
yup. Then Black pays CO
hun skelper:
I may have misconstrued your original post and if I did then I apologise. I read it as you were taking the lash out of those questioning the board over issues. Again, if you were not, I’m sorry.
There are rules, they used to be posted but I’m not even sure if they are still up, but I’m sure they still stand.
They are pretty accommodating:
No swearing
No Baiting
No Slandering
No personal attacks
now that is off the top of my head. Our host could well prove me wrong or add.
Add to the others above respect, and lots of commas and full stops and no personal pronoun abuse.
Now if somebody gives it out to you, then game on mate.
I’m not obsessed by the huns and I don’t think you are either, I’m not a doctor but I think you are obsessed with the mirth of the hun just like I am.
As for ‘paranoia’ I suffer chronically, but being a Tim it is as much a staple as the potato.
3mick3.
I was at Steve’s funeral as were a number of other CQNers, A few of us went over to Alloa. I may have met you that day.
Tommy Gemmell was my childhood hero.
Still is.
Tam did not just move up the park he “sauntered forward”, or made a “mazy run”.
Tam’s style of play demanded superlatives – he made “swashbuckling” a must go to for the fitba scribes.
Tam had his own chant from the former Glasgow football team’s fans:
“Gemmell’s a b******”.
Some man.
Happy Birthday, big fella, you were the best.
Martin 42
how are you? I haven’t seen you on these pages for a long while. And how is your cousin 47? He has been absent for a long time too.
Bobby Murdochs Ankle supportin Oscar Knox
I don’t know if my cousin lets you go for a drink before games, or if you frequent Babbity’s, but I’ll be in there before the game on Tuesday with my 12 year old son (though he will be in the dark until Monday night).
Hun skelper
I dont need to prove it. That information is already in the public domain.
Dont you read or cant you read. I suggest you do before you try and set yourself up as some kind of authority on it because it makes you look well stupid and it makes debating with you a waste of time except I get paid for this.
No No I insist dont thank me for helping you
Yes I like playful spanking. No blood or bruises. I´m a lover not a fighter ;-)
HH
Aynone else convinced that Pablo would be as disgusted as me at our present custodians lack of cahonies ?
HH
martin42:
I remember the day well, I remember having to pay Paul for buying Ol’tim a whisky in my name at the Golf day out. I also remember meeting amongst a host of good others your other son Kevin, and Noel90, and NeilR.
I’ll be home again soon as I can and hopefully it will coincide with a Celtic meet up, but please no in the BB’s, the fiddlers are ****** and they burst my nut.
Somehow I knew Ol’tims post would bring fine men out of hibernation, I’m a little surprised that DB hasn’t passed comment yet.
You look after yourself mate and let your sons be good to you.
QUIZ
Ok seen they qaulified last night
Who was the first player born after the greatest day in Englands football history (i.e. England’s World Cup victory in 1966) to make his debut for England?
from my previous post
“but I’ll be in there before the game on Tuesday with my 12 year old son (though he will be in the dark until Monday night).”
I don’t mean that my son is the former poster “In the Dark” until Monday night and then he’ll stop being the former poster”In the Dark” at that point.
I thought I’d better clear that up before emdy gets the wrong end of the stick
Cadizzy,
Your wee cuz indeed does allow the odd drink, but unfortunately due to work, I won’t be at the park(lounge2) until the Greenock CSC charabang arrives at approx 1900 hrs, it would be good to meet up.
Bma
Test
Cadizzy, that’s just the memory o your Aunty Nan lockin you in the room…………..
Bma
Awe Naw
Gascoigne??
Oldtim67,
Let. Me join the many who have praised your awesome post.
I remember your first post and your apologies for your forgotten grammar.
However, you weren’t long in recovering the lessons from your schooldays.
You mentioned today, your quest to meet as many CQNers as possible.
I was one of the notches on your gun, when, after reading on here that I was meeting SFTB in BB’s, you, along with BT, came over from Sharkey’s, after being with Estadio, just to say “hello”.
It was my first time in BB’s, en route to one of my now rare visits to CP.
It was a midweek game v Hibs.
I was touched by the gesture and felt humbled.
I also met other blog legends that evening.
Like one or two others, I have also been reconsidering my attachment to CQN, it is via posts like yours and a few others, that I will hang in for a while longer.
Far too many attention seekers and stirrers polluting the place, which sometimes seems to be a sanctuary for squirrels.
Look after yourself abd keep well, O Keeper of the Flame.
Awe Naw
England won the World Cup. Jeez…talk about hiding their light under a bushel.
Tony Adams
Paul Merson