Scottish Championship side Rangers shareholder Mike Ashley "blocked attempts by the Rangers board to nullify his influence at the Ibrox club," according to Chris Clements of the Scotland DAILY RECORD. The Sports Direct tycoon "was granted an interim interdict at the Court of Session last week blocking a shareholder vote on Resolution 11 ahead of Friday’s AGM." The vote "had called for the removal of voting rights from any shareholder involved in the running of another club." Ashley "maintains a controlling interest at Newcastle United" as well as his 9% stake at Rangers. The billionaire "also sought interdicts against voting on two other resolutions but the court found in the board’s favour." Should 75% of shareholders vote in favor, it means the board "will be able to issue fresh shares in the company and chairman Dave King and the Three Bears can convert their loans into shares in the future." A Rangers spokesperson added that the withdrawn resolution "was intended to afford the Company with protection against a further breach of the Scottish Football Association’s Disciplinary Rule 19 on dual interest." In March, the billionaire was fined £7,500 ($11,300) -- later reduced to £1,000 ($1,500) -- when the SFA decided there had been a breach of its rules on "dual influence." The following month, the club was fined £5,500 ($8,300) "for a related breach" (DAILY RECORD, 11/23).
