Mystery as Douglas Park ‘wins’ crucial AGM vote
Soccer Football - Europa League - Fans gather in Glasgow for the Europa League Final - Eintracht Frankfurt v Rangers - Glasgow, Scotland, Britain - May 18, 2022 Rangers fans outside the Ibrox Stadium during the Europa League final Action Images via Reuters/Lee Smith
Douglas Park has apparently been re-elected as a director of RIFC but the results of the shareholders vote is being kept secret.
Dave King and Club 1872 voted against Park and two other resolutions, combined they have around 19% of the shares in the club with a 25% vote required to block any motion.
Normal practise is to announce the voting figures but late on Tuesday night the club website announced:
THE Board of Rangers International Football Club PLC is pleased to confirm that all resolutions presented at today’s Annual General Meeting were approved by shareholder vote.
This successful outcome will assist the club with its ambitious investment plans, on and off the field of play.
Full details of the shareholder vote shall follow.
King and Club 1872 also opposed a resolution allowing the board to issue new shares to anyone for a five year period, recent actions suggest that other shareholders will find their stake in the club seriously diluted.