MONDAY, 11 NOVEMBER 2013 19:25 Misleading Statements Regarding Shareholders WRITTEN BY RANGERS FOOTBALL CLUB THE Company is aware of the press speculation following statements made by former directors in relation to the clubs shareholders - Blue Pitch Holdings and Margarita Holdings who hold a 12% stake. The statements in the press refer to these shareholders as mysterious backers and indicate that institutional shareholders may seek to call an emergency stakeholder meeting to bar the voting rights held by these shareholders. The Company wishes to clarify that the Company has, under section 793 of the Companies Act 2006, addressed requests to funds and nominee shareholders of the Company, including Blue Pitch Holdings and Margarita Holdings asking for details of their shareholdings in the Company. These funds and nominees, including Blue Pitch Holdings and Margarita Holdings, have properly responded to these requests. Grounds for action to be taken against Blue Pitch Holdings or Margarita Holdings for non compliance with a section 793 request have not been established and there is no basis for the Company to seek to impose restrictions on the shares held by these shareholders. In addition, the Company has responded in full to a request from the former directors to provide copies of the responses to the section 793 requests that have been made by the Company. The Company understands that these former directors will, having seen these responses, be aware that there are no grounds to take action to bar voting rights. Institutional shareholders, therefore, would not have a legal basis to convene a general meeting to pass an ordinary resolution to require the Company to take action to bar votes held by these shareholders. The Company also wishes to confirm that it respects the rights of all of its shareholders and would not seek to restrict or remove any shareholder rights unless there are legal grounds to do so for a proper purpose. The Company wishes to reassure fans and shareholders that there is court precedent which provides that shareholder voting rights cannot be removed for the purpose of barring a shareholder from voting at a general or annual general meeting. The company also expresses surprise that former directors and their supporters have stated that there should be no more appointments to the board. Acting Chairman David Somers, following discussions with shareholders is actively seeking to strengthen the board with new appointments and he does this with the support of the majority of shareholders. rangers.co.uk/news/headlines/item/5553-misleading-statements-regarding-shareholders
Posted on: Mon, 11 Nov 2013 21:31:11 +0000
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