LONDON (Alliance News) - Rangers International Football Club PLC Friday confirmed that its upcoming extraordinary general meeting will take place March 6, rather than the previously scheduled March 4, at the Ibrox Stadium in Glasgow.
The club has had to move the meeting to the Ibrox after two London hotels pulled out of hosting the meeting.
The meeting has been requisitioned by shareholder Dave King to remove the current board.
The board of Rangers set out "questions" for King "on behalf of shareholders", including requesting further information on what his plans are for the future running of the club and how he intends to finance it going forward. The board also asked how King plans to avoid the suspension of the company's trading should he be voted onto the board.
The board had previously outlined earlier this month that there could be a "material adverse impact" to the company's listing if King is appointed to the board, owing to King having been convicted of tax fraud in South Africa in 2013.
WH Ireland, its adviser, said at that time it would resign its role should King be appointed to the board, meaning the company would have one month to appoint a new nominated adviser before trading in its shares would suspended, under AIM rules.
Shares in Rangers are trading up 1.3% at 34.4 pence Friday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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