Result of AGM

RNS Number : 0229W

Rangers Int. Football Club PLC

19 December 2013

 



19 December 2013

Rangers International Football Club plc

("Rangers", "RIFC" or the "Company")

Result of AGM

The Company announces the results of the voting by poll on the resolutions put to its Annual General Meeting held at 10:30am on Thursday 19 December 2013 at Ibrox Stadium, 150 Edmiston Drive, Glasgow G51 2XD.

Resolutions 1-9 were successfully passed but Resolutions 10-14 did not achieve sufficient votes to be passed.

The Directors note that Resolution 10 was supported by 67.9% of the votes cast but as it is a special resolution it required a majority of 75% of the votes cast. In line with the Chief Executive's statement of earlier today the board may seek the relevant authority again once it has completed a robust business planning process as appropriate.

 David Somers, Chairman commented "We are pleased that the board, with its focus on corporate governance, prudent financial management and strategic commercial development, has been decisively re-appointed by a high turnout of Shareholders at the AGM."

Graham Wallace, CEO commented "The Board sought a clear and decisive mandate from shareholders to provide a platform for stability and is pleased that the voting has provided this.  The Board recognises that improved engagement with supporters is a major area of focus and is committed to reviewing how the Club engages with the wider supporter base.  We now require a period of stability in order to take the business forward and I encourage everyone with the best interest of Rangers at heart to support fully the new Board in developing the Club and growing shareholder value."

Resolution	For/Discretion (Number of votes)	Percentage For/Discretion (%)	Against (Number of votes)	Percentage Against /Discretion (%)	Withheld (Number of votes)	Total votes validly cast	Percentage  of issued share capital voted (%)
Ordinary resolutions
1. To receive and adopt the audited accounts	47,852,524	92.3	4,011,341	7.7	5,614,296	51,863,865	79.7
2. To re appoint David Somers	44,918,302	79.9	11,325,261	20.1	1,228,137	56,243,563	86.4
3. To re appoint Graham Wallace	47,841,510	85.5	8,119,938	14.5	1,181,681	55,961,448	86.0
4. To re appoint Brian Stockbridge	37,458,096	65.3	19,875,227	34.7	109,617	57,333,323	88.0
5. To re appoint Norman Crighton	45,530,404	79.5	11,748,360	20.5	208,540	57,278,764	88.0
6. To re appoint James Easdale	43,890,722	76.9	13,196,014	23.1	400,271	57,086,736	87.7
7. To re-appoint Deloitte as auditors	46,743,195	84.2	8,761,191	15.8	1,366,384	55,504,386	85.3
8. To authorise the Directors to determine the remuneration of the auditors	48,413,201	94.6	2,779,403	5.4	5,692,021	51,192,604	78.6
9. To re new the Directors authority to Allot Securities	36,388,055	69.7	15,831,947	30.3	4,657,953	52,220,002	80.2
Special Resolutions

10 To renew the Directors' authority for the disapplication of pre-emption rights	35,526,886	67.9	16,792,955	32.1	4,563,210	52,319,841	80.4
Other Business- Ordinary Resolutions
11. To elect Paul Murray	15,927,023	31.7	34,301,380	68.3	6,673,413	50,228,403	77.2
12. To elect Malcolm Murray	15,918,689	29.8	37,563,167	70.2	3,407,444	53,481,856	82.2
13. To elect Scot Murdoch	16,027,700	30.0	37,428,369	70.0	3,441,738	53,456,069	82.1
14. To elect Alex Wilson	15,948,349	29.9	37,478,922	70.2	3,455,164	53,427,271	82.1

The number of Ordinary Shares of 1p each in issue on 17 December 2013 at 6pm (excluding shares held in Treasury - Nil) was 65,096,056. Shareholders are entitled to one vote per share.  A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes validly cast.

For further information please contact:

Rangers International Football Club plc
Graham Wallace Brian Stockbridge	Tel: [phone]
Daniel Stewart & Company plc	Tel: [phone]
Paul Shackleton / James Thomas
Newgate Threadneedle	Tel: [phone]
Graham Herring / Roddy Watt / John Coles
Media House International Ltd	Tel: [phone]
Jack Irvine

 

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