The Saga continues......

Couple of stories here that might be of interest...



THE Company is aware of the press speculation following statements made by former directors in relation to the club's shareholders - Blue Pitch Holdings and Margarita Holdings who hold a 12% stake.

The statements in the press refer to these shareholders as "mysterious backers" and indicate that institutional shareholders may seek to call an emergency stakeholder meeting to bar the voting rights held by these shareholders.

The Company wishes to clarify that the Company has, under section 793 of the Companies Act 2006, addressed requests to funds and nominee shareholders of the Company, including Blue Pitch Holdings and Margarita Holdings asking for details of their shareholdings in the Company.

These funds and nominees, including Blue Pitch Holdings and Margarita Holdings, have properly responded to these requests. Grounds for action to be taken against Blue Pitch Holdings or Margarita Holdings for non compliance with a section 793 request have not been established and there is no basis for the Company to seek to impose restrictions on the shares held by these shareholders.

In addition, the Company has responded in full to a request from the former directors to provide copies of the responses to the section 793 requests that have been made by the Company.

The Company understands that these former directors will, having seen these responses, be aware that there are no grounds to take action to bar voting rights.

Institutional shareholders, therefore, would not have a legal basis to convene a general meeting to pass an ordinary resolution to require the Company to take action to bar votes held by these shareholders.

The Company also wishes to confirm that it respects the rights of all of its shareholders and would not seek to restrict or remove any shareholder rights unless there are legal grounds to do so for a proper purpose.

The Company wishes to reassure fans and shareholders that there is court precedent which provides that shareholder voting rights cannot be removed for the purpose of barring a shareholder from voting at a general or annual general meeting.

The company also expresses surprise that former directors and their supporters have stated that there should be no more appointments to the board.

Acting Chairman David Somers, following discussions with shareholders is actively seeking to strengthen the board with new appointments and he does this with the support of the majority of shareholders.

http://www.rangers.co.uk/news/headlines/item/5553-misleading-statements-regarding-shareholders




POLICE are investigating whether former Rangers owner Craig Whyte still has a stake at the Ibrox club.

Police Scotland’s Economic Crime Unit have written to former Ibrox chief executive Charles Green to ask for his cooperation in the matter.

Green stood down from his position in April following allegations he colluded with Whyte when he bought Rangers' assets and transferred them to a new company called Sevco Scotland Limited.

Rangers paid law firm Pinsent Masons to investigate the claims and they cleared Green of any wrongdoing.

However, although lawyers found no evidence of Whyte having any connection with Sevco Scotland Limited they later passed a number of files to Police Scotland.

Officers have now asked Green about a document he submitted to Companies House which, it is alleged, could link the two men.

As part of the five-way agreement that saw Rangers' membership of the SFA passed from Rangers Football Club plc to Sevco Scotland last summer, Green gave an undertaking that Whyte had no role in the consortium that bought the assets of the club.

SFA chief Stewart Regan has indicated that Rangers could be stripped of their membership if it is discovered that Whyte has been involved in the new company.

http://www.dailyrecord.co.uk/news/scottish-news/police-investigating-whether-former-rangers-2752641

And another statement from Malcom Murray......

http://news.stv.tv/west-central/248143-former-rangers-chairman-pretty-sure-craig-whyte-no-longer-involved/