The likely appointment of Dave King as chairman of Sevco has been blocked by the Alternative Investment Market.
After a carefully orchestrated week of leaked news the Third Division champions made two website announcements on Saturday night from King and £400,000 a year chief executive Craig Mather which all but confirmed King as Walter Smith’s replacement as chairman.
That announcement set off alarm balls within Daniel Stewart, the new clubs’ third Nomad in less than 18 months, who moved into action to correct Saturday nights statements.
A club statement this morning read: “RIFC was advised by its nominated adviser that there were regulatory implications arising from these statements and, accordingly, an amendment was subsequently made.
“The board needs to make it clear, for regulatory reasons, that the board of directors referred to above is The Rangers Football Club Limited, the wholly owned subsidiary of The Rangers International Football Club PLC.
“Although we welcome the support of Dave King, no decision has been made to appoint him as a director.
“There are regulatory matters which would need to be resolved prior to any such appointment.”
The latest backtracking comes on the same day as the directors try to thwart a bid by rebel shareholders to put forward a motion at next week’s AGM to vote in four new directors.
Led by Carmunock based billionaire Jim McColl the rebels had their motion rejected by the club who claimed that it wasn’t compliant with stock market regulations.
Having had their own actions corrected by the AIM this morning the current board are now trying to sidetrack McColl’s Rebels using the same argument.
While the SFA are prepared to roll out the red carpet treatment for King it seems that the AIM will show more interest in his involvement in the liquidation of Rangers as well as admitting to over 40 charges of tax evasion to the South African authorities.
This is a farce
They make the kelly and grants of this world people who could indeed run a bath after all
Looks like the AIM have more balls than the SFA.
Slugs have more balls than the sfa.
HH
Nothing is going to prevent this additional corrupt move. The SFA or whatever they call themselves these days are too much involved not to slide the indiscretions under the carpet.
as i have thought for many years they will get away with anything to do with the sfa but now we can hope that aim will hit the target
Well thats the sfa for u they will do anything tae help there team get back tae spfl and they no fine well about king..p.murry .all i can say is they are cheats.tax dodgers wae one league tae there name fact fact… We are having another party when the zombies die..slop out hehaw sally
i was lead to belive that zombies eat brains.the huns are even crap at that.
with the blue room shannanigans they surely must be cannibals.
hell we dont care what the cannibals say what the hell do we care.
See Sally et al want him in because he’s a ‘real Rangers man’. With 40-odd counts of tax evasion behind him, he definitely fits the bill on that score. If AIM or anyone complains, he’ll just get some stooge to stand in for him. Can’t see that he’ll want to pump in much more money though, given he’s had to cough up over £40m to the SA tax authorities and lost about half that again to the DeidCo. How long before this latest saviour turns out to be just another false prophet? And will they be able to survive long enough to get him on board, given the additional legal costs that they had to pay after losing to the Rebels, on top of the ridiculous amount of cash they are burning through just to keep running?