Sevco saviour Dave King has again avoided answering questions about his plans for the company that runs the troubled football club and about his own suitability.
This morning the Sevco board announced that their EGM would be called on March 6 with the meeting called to oust the current board.
If Mr King , who was described as a glib and shameless liar by a South African judge, succeeds in winning a blazer for Paul Murray one of the first tasks will be to repay all loans to Mike Ashley as well as finding a NOMAD to advise the company regarding Alternative Investment Market regulations.
Sevco have required one share issue and three emergency loans to reach this stage of the season with further financing required to reach through till the end of the season and the lifeline of season ticket sales.
In a statement this morning the company asked: “What his business plans are in regards to the future running of the club and, in particular, how he intends to finance the club going forwards?” and “What action he intends to take to avoid the suspension of the company from trading on the London Stock Exchange (and the subsequent risk of being delisted from trading) should shareholders vote him onto the board, as previously outlined in the announcement made on 6 February 2015?”
Ignoring those questions Mr King’s camp responded by praising two supporter groups who have been buying shares at around 35p after his new year swoop that snapped up 16% of the company at 20p per share.
The statement on behalf of the Mr King group said: “We – Dave King, Paul Murray and John Gilligan – would, at this time, like to thank the Rangers Supporters Trust and Rangers First for their excellent work towards the board room changes necessary. They have performed a remarkable service for their club and are to be commended.
“RST have an astonishing 3.25% of shares and proxies while RF have also gathered a significant number of shares. Their total will be announced shortly but together these two groups deserve to be recognised.
“Both groups have released the results of surveys conducted with their members and the overwhelming majority have backed our resolutions.
“We thank all fans who have taken the time to buy shares, fill out proxy cards and back our resolutions. Supporters are the lifeblood of Rangers Football Club and they should never be taken for granted. They have our thanks.”
It’s believed that the Mr King group has enough votes to secure that their motions are passed but that is based on the support of the three rebel bears.
The rebel bears have yet to announce that they are backing the Mr King plan leading to speculation that they may be open to a blazer deal with Mr Ashley.