Promise you won’t veto King, fans tell Easdale
RANGERS supporters’ groups last night called on Ibrox powerbroker Sandy Easdale to provide assurances he will do nothing to veto Dave King’s attempts to invest in the financially-troubled club. Chief executive Graham Wallace and other members of the board met with former Ibrox director and King ally Paul Murray in London on Tuesday. And the discussions centred around ways to facilitate an injection of cash by the South African-based businessman through a fresh share issue later this year. King has had no direct overtures from the Rangers board and denies giving anyone a mandate to speak on his behalf, saying last night: ‘I have no representatives and, as before, any discussions I
have had or will have remain confidential. I will only announce or comment on a certain outcome if I get to that point.’ The Glasgow-born executive chairman of MicroMega Holdings was not eligible to participate in the most recent £3million share issue. But he has repeatedly said he wishes to take part in a largerscale cash-raising exercise later this year. King made a verbal, public offer to invest a sum in the region of £30m during the summer, but has since retreated from the public limelight. Rangers sources say Wallace attended Tuesday’s meeting to consider ways in which King’s wish to assist might be accommodated. Significantly, however, major shareholder Sandy Easdale was not present. And, amidst rumours of a rift between Easdale and Wallace over King’s projected involvement at the Ibrox club, the Union of Fans have expressed their fears the Greenock bus tycoon will use his 5.21-per-cent stake — plus his voting rights over a further 20.49 per cent — to retain his own position of power in the boardroom. ‘Mr Easdale and his associates have invested just enough to keep them above the 25-per-cent mark required to hold a veto over any inward investment to the club via a further, more substantial, share offer,’ said the Union of Fans through a statement last night. ‘Despite owning only around five per cent of the club himself, Sandy Easdale claims to hold proxy voting rights for around 26 per cent. ‘We have long been concerned that Mr Easdale refuses to disclose who he actually holds these proxies for and, instead, disguises them through Beaufort Nominees. ‘We would ask Mr Easdale to confirm publicly that he and his associates will not oppose any resolution at the upcoming annual general meeting which would allow fresh investment from those who care about the future of our club. ‘If Mr Easdale ignores this request or refuses to answer unequivocally then, in the near future, we will recommend what course of action we believe fans should take.’