EGM called at Ibrox to oust chairman Murray
Without even having held their first ever AGM it’s believed that an EGM is about to be called to finally oust Malcolm Murray who has twice been given votes of no confidence by his board.
McGill’s buses executive James Easdale is behind the move to call an EGM and has been given the backing of Chris Morgan from the secretive Blue Pitch Holdings Group.
Charles Green brought Blue Pitch to the table when he apparently bought the assets from Duff and Phelps for £5.5m but that deal has been challenged by Craig Whyte’s Sevco 5088 company.
Easdale and his brother Sandy, who was convinced for VAT fraud in the nineties, went public last week with their criticism of Murray and their desire to be represented in the boardroom.
It’s understood that the Easdale’s have an agreement in place to buy up Green’s shares allowing them to use his 8% holding by proxy at the moment.
By lining up their own shareholding with Green and Blue Pitch the Easdale’s are likely to get their wish with a place on the board and the removal of Murray and fellow non-executive director Philip Cartmell.
The boardroom unrest takes place against a background of uncertainty over who owns the club assets and what links they may have to former billionaire Craig Whyte.
Last July the SFA awarded Green associate membership of the SFA after being informed of his backers and the financial future of the new club.
Doubts have now been cast on much of that agreement with the club carrying out an internal investigation into Whyte’s claims.
Other than requesting further information from the club the SFA seem to be taking a backseat allowing the uncertainty over the Third Division champions to continue.