Rangers owner Craig Whyte has refused to face the fans at an AGM with the club accounts up until June 2011 still unaudited.
Whyte has claimed that discussions with HMRC over various unpaid bills has prevented him from calling an AGM but the Rangers chief has always claimed that the club is confident of winning the biggest tax case which could amount to £49m or more.
The Motherwell born billionaire bought Rangers for £1 in May this year but has attempted to keep a low profile despite the club being taken to court for various bills as well as dealing with substantial claims from former directors Martin Bain and Donald McIntyre.
Whyte’s actions are in stark contrast to the way that Fergus McCann acted when he took over Celtic in 1994. McCann quickly called an EGM to explain his plans to shareholders with a successful public share issue raising over £9m within a year of ousting the old board.
Celtic’s largest shareholder Dermot Desmond has failed to appear at the club’s last two AGM’s and although the event rarely produces genuine revelations it does give ordinary shareholders the opportunity to question directors about various issues.
Both the Plus exchange and the SFA are investigating Whyte over a seven year ban from holding a directorship with the postponement of an AGM likely to cause further investigations from the Plus exchange.
Speaking to The Sun Whyte claimed: “It will not be logistically possible to have the AGM in what remains of 2011.
“We will have it in the first quarter of 2012 when we’ll have a better indication of how the tax case will play out.
“I’d like to face that AGM with more certainty and positive news on the way ahead for Rangers.
“I feel there is too much focusing on negatives from my past, but I put myself up there to be shot at. I can handle that. But I hope there will be a more positive atmosphere by the time of the AGM.”
Before buying out Sir David Murray’s stake in the club Whyte carried out due diligence lasting six months which uncovered the smaller unpaid tax bill.
It’s believed that Rangers have around 20,000 shareholders owning less than 10% of the club with South African based tycoon Dave King the largest shareholder after Whyte.
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Crooked Craig makes it up as he goes along, Celtic fans couldn’t have hand picked him themselves.
bhoylondon. Shhhh. Don’t give the game away. 🙂
dare i say if this was celtic we’d be gleefully and scornfully torn to shreds day and night in the media. instead the record and sun run with a stupid tale which avoids the obvious questions while trying to paint this latest farce as a positive. only private eye has any critical analysis of the huns/whyte. our printed and broadcast media are an utter disgrace.
BigPaul although I tend to agree with you on the Mankie Scottish media, I think in this case they may very well be doing us a favour by keeping all Rearangers stories positive just means the shame are possibly walking blind into oblivion. If you need further evidence of this have a look at Rangers tax case . Com.
I’d agree but it is not just that, when the tax case debt AND other tens of millions of debt put Rangers in their place all the usual suspects in the media will be giving it “I told you so” and “As I exclusively revealed”. That’s unacceptable, they should be left hanging their heads in shame, but they won’t.
“billionaire?”
Bullshitaire more like.
Craig whytes my uncle , and I he’s got money my dad just told me he’s bought a throne for his castle
Sorry mhate, I think your Dad said Whyte was THROWN out of his castle. Pesky bailiffs!
Has anybody heard when craig whyte is going to start building the shopping complex and the penhouse flats onto Ibrox I fancy one over looking the gas tanks
Brian you’ve got it so wrong.
Minty and Whytey are combining thier wealth and building a super casino and hotel complex.
Plans are already at an advance stage, casino will accept giros and the five star hotel 500 room complex will also accept giros.
Now if this pish appears in the Mankie Media don’t be surprised.
Anyone know where i can some “Ring Fencing”? I wasn’t sure what to get the kids for christmas and apparently it’s the current craze.