Standards required by AIM. Oops.


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. Hamiltontim is praying for Oscar on




    So ya oul tart you finally for round to posting it!!!



    My God it was worth it.



    CQN frustrates the life out of me at times but I always try to remind myself just how decent, honest and Celtic minded those CQNers that I’ve met actually are.



    Your post has reinvigorated the blog today that should make you very proud.






    Thanks for your best wishes. I don’t believe that we’ve met but I hope one day soon to remedy that.

  2. Michael


    rules shmoolze


    there are no rules…only opinions that are agreed with or disagreed with…simple really


    thats when the good stuff starts and the blog comes alive

  3. #Fearless Wee Oscar is on a Celticrollercoaster on




    Please pass on my best to Kano and family.



    Good to see old and new CQN mixing so well.







  4. Ramie:



    Cheers mate, I’m glad he got a wee break, a change of scenery. As always my best to all the guys over there regardless of which team they might chose to support.

  5. Awe_Naw_No_Annoni_Oan_Anaw_Noo on

    I am pretty convinced that Vuncent Linny squashed that yellow card




  6. kitalba @ 16:09



    “….maybe in lieu of a yellow card a 2 pound contribution to the breach of ettiquete might be an appropriate alternative”.



    Great idea. I’ll send the details of the bank account for deposits ;-)

  7. Phyllis Dietrichson on

    If the Huns sing “Sack the Board” on Saturday, will anyone point out the obvious to them?

  8. Corkcelt.



    Did you say that you’re meeting up with Kikinthenakas on Tuesday,if so, I’ll meet up with you on the day, I’d like to bring a couple of bottles of Vino or Port to open at the restaurant,where was the last restaurant we got permission to do that.May go back there.

  9. Well there we have it. Mr Spiers has told all and sundry that the glib and shameless liar will walk back in and save the now dead club and that the Sectarian FA including Peter Lawell will look the other way.



    What a disgusting article from one who is regarded as the best of a very bad lot.



    I thought at the time that it was a strange decision for Peter to become a member of the Sectarian FA board and unless he himself rebutts Mr Spiers article then it is the end game for me. as someone on this site site said last year ” not in my name”




    I like many thousands of others will be supporting the Celtic long after PL and others have gone. I do not share the actions of some who advocate starving our club of cash.



    So over to you Peter, lets here from you.


    The return of King may yet prove controversial. The entrepreneur and former Ibrox director has just pled guilty on 41 counts of tax breaches in a South Africa high court and, while most Rangers fans appear not to care a whit for his court conviction, other bodies have yet to address the issue although we can say with absolute certaintly that the SFA including Peter Lawwell will look the other way




    from GRAHAM SPIERS today.that is how he is regarded .A FEARTY.


    he told the AGM he had written to the SFA re CELTIC players being pulled up for tackles after the game had finished that the REF had not spotted.


    6 months later he had not received a reply.



    A. he sent CELTIC to play for 6 months and he did not know the rules.


    B.WATTIE asked for clarification re MCGREGGOR and lo and behold someone from SFA comes on tv the next night and explains things.



    need to go baught a chocolate fiire guard today and it’s starting to ………

  11. St. John Doyle:



    Ghuys was due to deliver your tickets to the Ryan Clan over the weekend as they intended going away for a few days but I received a message from Linda. In the message she tells me that she had been reading the Blog after a post she read about FAC. Linda asked me to post something on the back of this:



    Hi Lennybhoy, I have had a change of heart about Liverpool, I didn’t have the energy to go. So will be in anytime…so just send me a text or call when you want to come up…We are still waiting on the bank details for the charity.



    I read a little of CQN the other night after a post about the FAC candidate and Independence etc. The jist seems to be about Glasgow City Council (among others) ‘allowing’ OO marches. Could you please point out from me that Glasgow City Council has no power to do anything about Marches. The power rests with the Scottish Government. It is fair to say that neither Labour or SNP have tackled this in the Parliament.But just to set the record straight GCC cannot stop a march and would step into an expensive legal minefield if they tried to. Best Wishes Linda x






    I will popping over either tomorrow or Friday with the tickets you bought for the Ryans to attend the Ajax game.



    Any that still wish to donate to the ‘Mini St. John Doyle’ fund you can contact me at lennybhoycfc@gmail.com



    I will pass on your best wishes when I deliver the tickets.



    Keep the Faith!



    Hail Hail!

  12. blantyretim.



    I phoned you about 4 times,In my paranoid state I thought you weren’t talking to me. I didn’t know you were on holiday,hope your back with a sun-tan.

  13. Well guys, again way past my bedtime, but before I go you conniver ol’tim, you fair deflected the criticism of the board with your nostalgia.



    You make that soup thick mate and pay heed…



    pace yourself,



    ‘coz there’s another Continental cup in both of us before we kneel before our maker.

  14. minx1888 praying for Wee Oscar on

    Martin42 – thank you! Hope you’re keeping well and hopefully catch up soon! Will soon be that time of year to share your steak pie recipe!

  15. A Happy 70th Birthday to Big Tam, our very own Danny Kaye.



    There were so many heroes in that team of the 60’s, but I always had a soft spot for the big man. He was the first guy i ever saw who could swerve the ball down the line, he skipped rather than ran, never pulled out of a tackle, and could handle him self when needed.



    I remember the delight of getiing his biography ‘The Big Shot’ in my christmas stocking, It was the first Celtic book I ever had, and my young sister kept scraps in it for years afterwords, until it eventually fell apart. Sacrilege, I know.



    I have never seen Tommy in or around Parkhead over the years, but hope he is keeping well and enjoys his day.




  16. •-:¦:-•** -:¦:- sparkleghirl :¦:-.•**• -:¦:-• on

    lennybhoy, my browser splits your username in a rather unfortunate way…….

  17. blantyretim is praying for the Knox family on



    Pick up yer mobile.




    Suprised at you not giving the orc a chance..

  18. Old Tim


    If you mean pre -Juventus game, the restuarant was The Mediterraneo ( or very similar). Is it happening again Pre-Ajax? I would be up for that,




  19. Leftclick:



    These guys just did what they thought was right, I doubt they ever once looked at the odds or a share price.





    St Patrick’s Battalion




    My name is John Riley


    I’ll have your ear only a while


    I left my dear home in Ireland


    It was death, starvation or exile


    And when I got to America


    It was my duty to go


    Enter the Army and slog across Texas


    To join in the war against Mexico



    It was there in the pueblos and hillsides


    That I saw the mistake I had made


    Part of a conquering army


    With the morals of a bayonet blade


    So in the midst of these poor, dying Catholics


    Screaming children, the burning stench of it all


    Myself and two hundred Irishmen


    Decided to rise to the call



    From Dublin City to San Diego


    We witnessed freedom denied


    So we formed the Saint Patrick Battalion


    And we fought on the Mexican side,


    We formed the Saint Patrick Battalion


    And we fought on the Mexican side



    We marched ‘neath the green flag of Saint Patrick


    Emblazoned with “Erin Go Bragh”


    Bright with the harp and the shamrock


    And “Libertad para Mexicana”


    Just fifty years after Wolftone


    Five thousand miles away


    The Yanks called us a Legion of Strangers


    And they can talk as they may



    But from Dublin City to San Diego


    We witnessed freedom denied


    So we formed the Saint Patrick Battalion


    And we fought on the Mexican side,


    We formed the Saint Patrick Battalion


    And we fought on the Mexican side



    We fought them in Matamoros


    While their volunteers were raping the nuns


    In Monterey and Cerro Gordo


    We fought on as Ireland’s sons


    We were the red-headed fighters for freedom


    Amidst these brown-skinned women and men


    Side by side we fought against tyranny


    And I daresay we’d do it again



    From Dublin City to San Diego


    We witnessed freedom denied


    So we formed the Saint Patrick Battalion


    And we fought on the Mexican side,


    We formed the Saint Patrick Battalion


    And we fought on the Mexican side



    We fought them in five major battles


    Churobusco was the last


    Overwhelmed by the cannons from Boston


    We fell after each mortar blast


    Most of us died on that hillside


    In the service of the Mexican state


    So far from our occupied homeland


    We were heroes and victims of fate



    From Dublin City to San Diego


    We witnessed freedom denied


    So we formed the Saint Patrick Battalion


    And we fought on the Mexican side



    From Dublin City to San Diego


    We witnessed freedom denied


    So we formed the Saint Patrick Battalion


    And we fought on the Mexican side,


    We formed the Saint Patrick Battalion


    And we fought on the Mexican side

  20. blantyretim is praying for the Knox family on

    Jungle jim.


    Received a text ftom johann murdoch.


    Same place as last couple cl matches.


    Not the Mediterranean.

  21. Afternoon CQN ; great post OldTim67 , a wee reminder of the positives CQN has brought to many of us internet bampots. Sometimes we get caught up in the detail of every issue and forget to stand back, reflect and simply enjoy being a tim. I have met some great guys through posting on here and hope to meet many more in the coming years.



    Kitalba hope my punctuation is ok :)

  22. blantyretim is praying for the Knox family on

    Ive just agreed to go pick up a new car at 4pm Tuesday.Eeeeeejit……o (

  23. The Honest Mistake loves being first on

    Oldtim from earlier on. Great post, inspirational. Dragged us out of the dumps.


    Hail hail

  24. leftclicktic oscar in our thoughts on



    Sorry to hear about your troubles my friend.


    Thoughts are with you.

  25. BT


    I THINK I have just emailed Johann . All these Lodge names we have on CQN leads to great confusion! Anyway, I am up for the pre-match meal and I hope someone will let me know the details.




  26. minx1888 praying for Wee Oscar on

    BT I did give him a chance … I allowed him to speak until I stopped laughing! Much the same as a car salesman earlier ;-)

  27. blantyretim is praying for the Knox family on



    Not far from there so im sure the bhoys will keep u right.




    Volvo v40 crossmatch?


    I don’t drive but provide the finance.o (




    Sorry to read your bad news..hope things end up ok..