Mystery investors known and to be revealed

[SteveC 150]

Thisis lifted from FF thread on a DR story running today re Paul Murray and the AGM, from someone who has read that story, emboldment mine:

 

 

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"Christian Purslow still lined up to be new chief executive.

 

New financial director is in place but no names are revealed. Murray stating he has a team ready to go to work.

 

Murray and Mccoll's legal team have also secured the identities of the figures behind Blue pitch Holdings and Margarita Holdings, they will be revealed by tomorrow.

 

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[the gunslinger 3,366]

Bet its no one we have ever heard of

[Frankie 8,562]

Full article:

 

PAUL MURRAY last night reacted with dismay to leaks that the Rangers agm might be postponed until Christmas.

 

And the ex-Ibrox director ramped up the heat on those now running the club by insisting he has assembled a replacement board that is ready to start running the club from today.

 

Murray spoke out after it was reported the hotly-anticipated shareholders’ vote – which will finally resolve a long-running power struggle – could be put back eight more weeks due to ‘logistical’ concerns over holding the meeting in the Ibrox main stand.

 

Murray has dismissed this as a further stalling tactic by the club’s current regime, which he had to drag into court earlier this month after it blocked proposals for radical boardroom change.

 

Murray and entrepreneur Jim McColl are leading the shareholder revolt against the board and the pair now insist they have the right people in place to begin running the club immediately.

 

As Record Sport previously revealed, former Liverpool managing director Christian Purslow has been lined up for the role of chief executive.

 

And Murray yesterday said a financial director has been secured who is ready to take over from the beleaguered Brian Stockbridge and take charge of the club’s dwindling cash pile.

 

Murray said: “Earlier this week three fans’ groups called for clarification on key points.

 

“The fans were quite correct to call for an agm to be held as soon as reasonably possible because this uncertainty cannot be allowed to continue.

 

“With that in mind, the latest leak about an eight-week delay is hugely disappointing and does nothing to provide the club with the stability it urgently needs.

 

“There is no valid reason to wait another two months to hold an agm. There may be problems about holding it at Ibrox but there’s absolutely no reason why another venue cannot be used.

 

“During my time on the board we used places such as the SECC and the Glasgow Concert Hall.

 

“In my view, this agm must not be held back any longer. I want to make it clear that we have an alternative board in place which is ready to go to work today.

 

“We have our own CEO and financial director.

 

“The right people are in place right now to begin rebuilding our club – all we want is the chance to stand for democratic election at the earliest opportunity.”

 

Murray also revealed his legal team has secured permission to burst open the secrecy behind the club’s mysterious investor groups, Blue Pitch Holdings and Margarita Holdings. It’s expected the paperwork, which should confirm the identity of the anonymous moneymen behind both camps, will be handed over to Murray and McColl’s lawyers by tomorrow.

 

Murray said: “The fans’ groups demanded clarification about the beneficiaries behind Margarita and Blue Pitch. On their behalf, we made a legal request for full disclosure of the identities of the investors, who were obviously among the original backers of Charles Green’s takeover.

 

“Between them they hold 15 per cent of the votes and it’s vital that any doubt about the motives of these groups is cleared up and that supporters and shareholders alike are told who is making key decisions about the future of the club.”

 

Meanwhile, McColl and Murray will meet with representatives of the club’s three main supporters’ groups this afternoon.

 

Murray is also due to hold talks with Dave King who is flying in from South Africa tomorrow.

 

Former Rangers director King is keen to invest in the club again and he is also expected to meet current Ibrox powerbrokers James and Sandy Easdale to discuss plans for a major cash injection.

[chilledbear 16]

From Richard Wilson

 

 

A series of meetings over the weekend will clarify the immediate future of Rangers.

When Dave King, the former Ibrox director, flies back to Scotland tomorrow, he will discuss the issues surrounding the club with the key individuals and ascertain whether or not an agreement can be brokered. Either a consensus is reached that brings all sides together, or entrenched views are carried into the annual meeting and subjected to a shareholder vote.

 

King will meet with Sandy Easdale, who along with his brother James owns or has the proxy for around 25% of the Rangers International Football Club shares. Discussions will also be held with Paul Murray, whose reappointment to the board - along with Malcolm Murray, the former chairman, Scott Murdoch and Alex Wilson - is backed by a group of institutional shareholders who hold around 28% of the club between them.

 

Both sides expect to have confirmed support amongst other shareholders, but the reality is that neither can be certain of winning a vote at the agm, which looks likely to be held in December, at least if the venue is to be Ibrox. While commitments at the stadium prevent the meeting being held at the stadium until then, Rangers have previously held their agm at different venues in the city.

 

The status quo is unsustainable, though, with only James Easdale and Brian Stockbridge, the finance director and company secretary, sitting on the RIFC plc board. While legally acceptable, it is not suitable for a company of RIFC plc's needs, and the onus is on the Nominated Advisor (nomad), which manages the listing on the Alternative Investment Market, to appoint new board members, a chief executive and a new chairman who meet with broad shareholder approval.

 

Paul Shackleton, of nomad Daniel Stewart, has been meeting shareholders to this end. While Daniel Stewart are out of their depth operating at this level, they are very much under the scrutiny of the AIM regulators. King had agreed to become chairman, and completed all of the relevant paperwork, but his appointment has not been processed.

 

With the Easdale brothers - Sandy sits on the Rangers Football Club board - effectively the seat of power within Ibrox, they are in control of the next stage of proceedings. If they can reach an agreement with King, who is prepared to invest, probably by way of underwriting a fresh share issue, a united front could be achieved. The alternative is to make their own boardroom appointments and lobby to have them retained on the board at the agm vote.

 

King is a long-time associate of Paul Murray, and would support Murray's appointment to the board. He also recognises the need to meet with the Easdales, who have a stake in the club. The exact nature of the Easdales' agreements with Blue Pitch Holdings and Margarita Holdings - two investors who were part of the original consortium fronted by Charles Green that bought the business and assets of Rangers Football Club plc in liquidation last summer - remains unknown.

 

In effect, though, the quest is for stability, both immediately and in the long-term. King is a potential chairman in waiting, while the two Murrays, Murdoch and Wilson are additional board members in waiting. An interim chief executive is also prepared to step in, along with the new directors.

 

King is also almost unanimously backed by the supporters, who will rally behind his next move. As fans themselves, the Easdales are believed to want the best for the club. The challenge is now implementing that.

 

http://www.heraldscotland.com/sport/football/shared-motives-but-still-some-talking-to-be-done.22510424

[Frankie 8,562]

I'm just hoping the various meetings bring some sanity to proceedings.

 

Dave King appears to be the key so he'll have to consider his words and actions very carefully. Meanwhile McColl seem to have worked out their team so it will be interesting to see what alternative BPH and the Easdales come up with.

[andy steel 0]

I must say, I do find the nail-dragging reluctance to actually hold an AGM most suspicious.

[Darthter 542]

I think the "announcement" that McCollco effectively have a new board ready to step immediately applies some further pressure to the current Dynamic Duo that is the RIFC board. This shows the voting shareholders that the group is organised & ready to assume control.

 

This then kinda weakens the question about are they the most suitable folk to take over - they are the only folk READY to take over. They already have a modicum of trust (balances with a handful of trepidation) and are not completely unknown. If they can get Dave King to officially be part of their group, I think the increase in fan pressure as a result would force the Dynamic Duo into decisive action.

 

As for the Easdales.....there may still be a future @ Ibrox for them. Simply due to the fact that no-one knows what their current or futures plans are. It is possible that they don't want to be in control of the club, just want to have a hand in running it.

[chilledbear 16]

I noticed this post on FF, no idea if it has any substance.

 

''I don't know if he states names in the DR tomorrow but I am led to believe should PM etc be appointed onto the board then Purslow will become CEO & Blin FD in the short term (around 12 months) to provide stability before a long term appointment can be found.''

[Frankie 8,562]

Murray confirmed on Sportsound the other week that Purslow would be his CEO. Blin may be FD but I'd possibly see him more as chairman.

 

I guess all that depends on how closely King is involved.

[Bluedell 5,624]

I'd be surprised if Blin agreed to become FD. He would not want to be taking what would be a big step down at this point in his career.

 

It's not that difficult to find people who could fulfil the role adequately (perhaps even someone on this thread ) so again I don't see why he would need to take it on a temporary basis.

 

Even if King was Chairman, Blin would make an excellent NED.