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Dave King announces victory in bid for control at Rangers

Date: 3rd March 2015

Ibrox Stadium

Dave King has announced that he has won a ‘landslide victory’ in his bid to take control at Rangers. The South African businessman claims that there is now no need for the scheduled EGM on Friday at Ibrox after his successful resolution.

King’s announcement comes shortly after the resignation of director James Easdale and chairman David Somers, leaving only Derek Llambias and Barry Leach, both of whom now face motions to remove them from the board. Both Llambias and Leach had been placed on the board by Newcastle United owner Mike Ashley, who owns a minority stake in Rangers.

King’s statement read: “All of the Rangers directors that are subject to my requisition have now accepted that my resolutions have been successful and there is now no need for the general meeting to proceed. Mr Llambias put it best by advising me that I had achieved a “landslide” victory. I wish to thank all shareholders, and particularly the fans, for this resounding success. The future now looks more recognisable for all Rangers stakeholders.

“James Easdale and David Somers did the right thing by resigning however the two appointees of Mr Ashley have stubbornly refused to resign and are using their current position (as remaining directors) to withhold implementation of the resolutions for personal gain. I attach a copy of my email to them in this regard.

“Now that the incoming board and I can focus on the future I will issue a further press statement outlining the immediate and intermediate steps that we have to take as we commence the road to re-establishing Rangers to the institution that its legacy demands.”

The passing of King’s resolution was in a large part down to the success and popularity of the Rangers Supporters Trust and Rangers First, both of whom hold just over a 2% shareholding in the club each, as well as proxy over a significant amount of other votes. Both groups voted in favour of Dave King.

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