Former VAT convict Sandy Easdale now has control of 26.62% of shares in The Sevco International.
With nine days to go until the clubs first ever AGM it seems that Jim McColl’s rebels are in for a trouncing as the current boardroom faction strengthen their control of the cash-strapped Third Division champions.
According to a stock market statement: “The Company announces that it was notified on 9 December, by Beaufort Securities (“Beaufort”), an FCA registered company, that further voting rights on 2,036,337 Ordinary Shares of 1p each in the Company (“Shares”) held by its clients had been assigned to Alexander Easdale. No Shares were bought or sold by Alexander Easdale.
“As a result, including the Shares held directly by Mr Easdale, being 2,942,957 Shares representing 4.52% of the issued share capital of the Company, Mr Easdale now holds voting rights over, in aggregate, 17,329,960 Shares representing 26.62% of the issued share capital of the Company.”
Easdale and his brother James are continuing to build their power base gaining the voting rights of the original secretive investors brought in by Charles Green.
With the backing of Laxey Partners, Mike Ashley, Richard Hughes and Ally McCoist the current regime are in little danger of being voted off by McColl’s rebels who are seeking to have four of their members appointed to the board.
Paul Murray, a former director of Rangers (IL), promised on Saturday to continue battling till the last minute claiming that the campaign was like a general election.
Murray also claimed that defeat would mean the end to his blazer chasing campaign with three supporter groups threatening to ‘disengage’ if the shareholders vote doesn’t suit their agenda.