Dave King is vowing to take on the ruling of the Takeover Appeal Board.
The South African based criminal seems to struggle to come to terms with British law after leading a concert party that took control of Sevco in March 2015.
To comply with regulations King should have made the same 20p per share offer to all other shareholders but in keeping with past actions he prefers to pick and choose the regulations that he complies with.
After a year long investigation followed by King’s appeal it was decided that the policeman’s son had acted with three other investors to gain control of the company.
Typically King defied the order to make an offer to the remaining shareholders with the matter now being dealt with by the Court of Session in Edinburgh.
Explaining his stance in an interview with the Herald the South African based crook said: “Absolutely I am contesting it.
“It is just plain wrong and it won’t survive. It will have zero impact on Rangers, it is a shareholder issue. I can’t make an offer for the shares. If they had said to my trust to make an offer then the trust could do it.
“They have the parties mixed up. I think it’s wrong and maybe they’ll fix it. But it doesn’t occupy my mind. But we are now in a position to proceed with a rights issue.
“We have always struggled to get that 75% [for Resolution 11] because of the opposition from MASH. I think it is fair to say that opposition will not be there going forward which means that either at the AGM coming up or before we will be able to get those resolutions through.”
MASH ( related to Mike Ashley) are expected to sell their shares in order to avoid the cold shoulder treatment coming Sevco’s way due to King’s defiance.
After being outflanked in the new Sports Direct deal King is expected to step down from his role as chairman to concentrate on maintaining his South African business interests.
