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Breaking news: Derek Llambias appointed as Mike Ashley nominated Rangers Director

6 years ago
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The London Stock Exchange have confirmed that Rangers have appointed Derek Llambias as a Director at the Glasgow club.

The former Managing Director of Newcastle United has taken up the position at Rangers as the nominated director of choice by MASH Holdings Ltd – which is the mechanism by which Mike Ashley retains all his shareholdings in various parts of his empire, including full ownership of Newcastkle United and his shareholding in Rangers.

Llambias was appointed as a consultant to Rangers only last week and now with Mike Ashley tightening his grip on the Scottish club, his trusted sidekick has been appointed to oversee his interests.

This is how Rangers confirmed the appointment to the London Stock Exchange

Appointment of Director

The Board of Rangers announces that it has appointed Derek Llambias as a non-executive director. He was nominated as a director of its choice by MASH Holdings Limited pursuant to its agreement to withdraw its requisition for a General Meeting, as set out in the announcement dated 27 October 2014. Mr Llambias has been acting as a consultant to the board of Rangers since 28 October 2014.

Mr Llambias held various positions including Managing Director of Newcastle United Football Club between 2008 and 2013. Prior to this he has been involved in a number of leisure and gaming businesses.

In accordance with Rangers’ Articles of Association, Mr Llambias will be subject to re-election by ordinary resolution of the shareholders of the Company at the upcoming Annual General Meeting which is expected to be held in December.

The weekend brought speculation that Mike Ashley’s dual involvement with Newcastle United and Rangers could see NUFC sending players on loan to the club over the border, with Ally McCoist hoping this could be a possibility of helping with strengthening his squad in the near future.

With each extra layer of involvement by Mike Ashley at Rangers, Newcastle fans wonder if this brings the moment closer when he will sell off the Tyneside club.

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