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Rangers fans vote gives over 98% backing for board against Mike Ashley ahead of AGM

7 years ago

Rangers fans have voted overwhelmingly to back resolutions put forward by the board in their battle with Mike Ashley.

Over 6,000 members of the Rangers Supporters Trust voted in favour of all 11 resolutions which the Rangers board came up with ahead of the AGM next Friday (27 November).

These included specific ones to curb Mike Ashley’s powers and/or increase the power of the board to deal with the problems the Newcastle United owner is causing for the club.

One special resolution calls for voting rights of any shareholder involved in the running of another club to be removed, which is aimed at talking away the voting rights that Mike Ashley holds via his 8.92% shareholding due to his ownership of NUFC.

The resolution has been included in an effort to prevent the Championship club, which was fined for breaching strict SFA dual ownership rules earlier this year, being punished in the future.

In addition, another  special resolution which would allow the club to issue shares on a ‘non-pre-emptive basis’ has also been backed by 98.95% of Rangers Trust members.

This would allow the so-called ‘Three Bears’ who support chairman Dave King, to convert their loans to share capital if it is passed.

Both of these special resolutions would require the support of 75% of the shareholders at the AGM.

The Rangers Supporters Trust currently owns a 2.12% stake in the club but the results of the poll  are widely accepted as being indicative of the wider fanbase and independent shareholders.

A Rangers Trust spokesman said:

“We would be very surprised if the results of this poll didn’t mirror what the wider fanbase want. We certainly expect most independent shareholders along with Rangers First to vote in the same way.

“We would urge all shareholders to make sure their vote counts at the AGM.”


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