Notice under Section 303 of the Companies Act 2006

RNS Number : 4736C

Rangers Int. Football Club PLC

19 January 2015

 

19 January 2015

Rangers International Football Club plc

("Rangers" or the "Company")

Notice under Section 303 of the Companies Act 2006

The Company announces that it has received a notice dated 16 January 2015 under Section 303 of the Companies Act 2006 ("the Act") from New Oasis Asset Management Limited ("New Oasis"), a company 100% owned by the Family Trust of Dave King. The notice states that New Oasis holds 11,869,505 Ordinary Shares of 1p each in the Company amounting to 14.57% of the voting rights of the Company.

New Oasis requires Rangers to call a general meeting of the Company and to put certain resolutions to Shareholders for inclusion in the business at such a general meeting (the "Notice").  The Notice puts forward resolutions for the removal of David Somers, Derek Llambias, Barry Leach and James Easdale as directors of the Company, and the Appointment of David King, Paul Murray and John Gilligan as directors of the Company.

The Company is currently verifying that the Notice is properly constituted. If valid, the Board intends to seek to have such Notice withdrawn in order to avoid the cost and disruption of an ad hoc general meeting. The AIM Rules require that all individuals appointed to the board of an AIM company are suitable to be a director of a UK public company.

If the Notice is valid and is not withdrawn, the Directors intend to recommend that Shareholders vote against the proposed resolutions. A circular will be sent to shareholders in accordance with the Act, however in the meantime the Directors will not be distracted from the more important matter of securing the future of the business.  A further announcement will be made shortly.

For further information please contact:

Rangers International Football Club plc	Tel: [phone]
David Somers / Derek Llambias
WH Ireland Limited	Tel: [phone]
Adrian Hadden / Paul Shackleton
Newgate Threadneedle	Tel: [phone]
Roddy Watt / Ed Treadwell

 

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