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SBD Global/September 6, 2013/Franchises

Group Denies 'Vote Of Confidence' To Current Scottish League 1 Rangers Board

The group seeking to gain entry to the Scottish League 1 Rangers board denies agreeing to a "vote of confidence" in the current regime, according to the BBC. Rangers confirmed on Wednesday that "they would consider a request to add" former Chair John McClelland and three others to their board of directors. The club added that the "requisitioners" were not seeking to remove any of the current directors. However, the group "has now stated that shareholders deserve the right to vote on the re-election of any director." In a statement issued to the Stock Exchange on Wednesday, the club said, "The board considers that any decision on any proposal for the withdrawal of the requisition would be subject to the provision by the requisitioners of a vote of confidence and continued support for the current directors and to all necessary regulatory approvals." But the rival group has now issued a response that read, "However we have also made it clear that, in accordance with the club's articles of association, all directors, both existing and new, have to offer themselves up for re-election at a vote at the AGM" (BBC, 9/5). STV reported it comes as the board "tries to avoid a general meeting that the disgruntled group called for in an attempt to remove" current CEO Craig Mather, Finance Dir Brian Stockbridge and Dir Bryan Smart. Rangers claim that the general meeting "would cost Rangers needless expense in the run-up to its first annual general meeting that is expected to take place in October" (STV, 9/5).
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