MX23RW : Saturday, April 10 21:31:57| >> :120:4680:4680:

Mike Ashley motions to remove Rangers chief executive Graham Wallace

Newcastle United owner Mike Ashley bids to remove Rangers chief executive Graham Wallace and director Philip Nash days after increasing his stake in the Scottish club.

Newcastle United owner Mike Ashley has called for a meeting of Rangers shareholders where he hopes to oust chief executive Graham Wallace.

Ashley recently increased his stake in the Scottish club to 9% and also hopes to remove director Philip Nash from the board as he seeks to gain further control.

Rangers announced to the Stock Exchange that it had "received a notice dated 7 October 2014 from Mike Ashley, a director of MASH Holdings Limited ("MASH") under Section 303 of the Companies Act 2006.

"The notice states that MASH holds 4,265,000 ordinary shares of 1p each in the company amounting to 5% of the voting rights of the company. MASH requires the company to call a general meeting of the shareholders of the company and to put certain resolutions to shareholders for inclusion in the business at such a general meeting of the company.

"The notice puts forward resolutions for the removal of Graham Wallace and Philip Nash as directors of the company. The company is currently verifying that the Notice is properly constituted.

"The board is united in its support of the executive team. If the notice is valid and is not withdrawn, the directors intend to recommend that shareholders vote against the proposed resolutions."

Rangers have promised to make a further announcement shortly, but it is understood that should it come to a vote, the board will recommend that shareholders reject Ashley's motion.

ID:181362: cacheID:181362:1false2false3false:QQ:: from db desktop :LenBod:restore:2509:
Restore Data
Share this article now:
Did you know...?
A general view of Ibrox Stadium home of Glasgow Rangers FC on February 14, 2012
Read Next:
Rangers legend Jardine dies, aged 65

rhs 2.0
Todays Game Header Right
Premier League
Scottish Premiership
La Liga
Serie A
Ligue 1
Primeira Liga
League One
League Two
National League
National League North
National League South
Scottish Championship
Scottish League One
Scottish League Two
Turkish Super Lig
Belgian Pro League
Greek Superleague
Swiss Super League
Russian Premier League
Ukrainian Premier League
Norwegian Eliteserien
Swedish Allsvenskan
NIFL Premiership
League of Ireland Premier
Welsh Premier League
Belarusian Premier League
Segunda Division
Serie B
Ligue 2
Copa Diego Maradona
Liga MX
AFC Champions League
Australian A-League
J1 League
6St Johnstone331010133440-640
7St Mirren331010133038-840
8Dundee UnitedDundee Utd33912122943-1439
10Ross County3385202659-3329
12Hamilton AcademicalHamilton3369183160-2927

Subscribe to our Newsletter

Transfer Talk Daily
Match previews - twice weekly
Morning Briefing (7am UTC)
Ultra close-up image of Kevin De Bruyne [NOT FOR USE IN ARTICLES]Get the latest transfer news, match previews and news direct to your inbox!