Frankie 8,367 Posted November 7, 2013 Share Posted November 7, 2013 From the LSE... The Board of Rangers announces that it has appointed David Somers as an independent non-executive director and acting Chairman. Mr Somers is an Honours Economic Studies graduate and a qualified accountant (Fellow of the Association of Chartered Certified Accountants). He spent all his career in Fund Management and in addition has considerable experience in matters of corporate governance. Mr Somers will oversee the current process of appointing a high calibre Chief Executive Officer and further independent non-executive director(s) to form a unified board and provide stability for Rangers. In order to allow time for the process outlined above to be progressed, the Company will hold its Annual General Meeting ("AGM") on Thursday 19 December 2013 at Ibrox Stadium, 150 Edmiston Drive, Glasgow G51 2XD. Mr Somers will, in accordance with Rangers' Articles of Association, be subject to re-appointment by an ordinary resolution of the shareholders at the AGM. Mr Somers is currently a Non Executive Director of ACE Europe Life, part of the ACE Group of insurance and reinsurance companies; Non-Executive Director and Chairman of Audit & Risk Committee of Europe Arab Bank; Independent Trustee & Chairman of the Investment Sub Committee at Fujitsu Technologies International Pension Plan and, Chairman of the Investment Committee at TCF Investment Managers Ltd. Further information concerning Mr David Somers, aged 65: Current Partnerships and Directorships: Ace Europe Life Ltd Europe Arab Bank plc FRS Pension Trustee Company TCF Investments Limited Past Directorships and other positions: Chairman, Shepherds Friendly Society Ltd Chairman, Shepherds Network Ltd Chairman of Trustees, Doosan Babcock Energy Pension Fund Director, Doosan Power Systems Pension Trustee Company Limited Chairman of the Audit Committee, Commission for Racial Equality Governor and Chairman of Audit Committee, Hadlow Agricultural College Director, Allenbridgeepic Investment Advisers Limited Mr Somers is not currently beneficially interested in the issued share capital of the Company. There is no further information required relating to Mr Somers to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules. 0 Quote Link to post Share on other sites More sharing options...
andy steel 0 Posted November 7, 2013 Share Posted November 7, 2013 There is no further information required relating to Mr Somers to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules. Be nice to know if he was a Bluenose or not. Waste of time and money all round, anyway. 0 Quote Link to post Share on other sites More sharing options...
bluebear54 0 Posted November 7, 2013 Share Posted November 7, 2013 David Somers was appointed a Non-Executive Director of Europe Arab Bank in 2006. He supports the governance and risk management of the business, a wholly-owned subsidiary of the Arab Bank group. David is Chairman of Europe Arab Banks' Board Audit & Risk Committee and a member of the Board Nominations and Remuneration Committee. David is an experienced professional, with a career of over 25 years at a senior level in institutional investment management. During this time, his roles included the position of Managing Director of a US owned investment house, Manufacturers Hanover Investment Management, and subsequently he held the same role for the Japanese owned, Nikko Capital Management Ltd. In recent years, he was the Director of Pension Funds for Clerical Medical Investment Group responsible for over 340 pension fund clients, with assets of over £8 billion and, after its re branding to Insight Investment, became the Head of Institutional Funds. David graduated from the University of Newcastle upon Tyne in 1970, with a BA Honours in Economic Studies. He qualified as an accountant in the late 70's and is now a Fellow of the Association of Chartered and Certified Accountants. In addition he is a Member of the CFA Institute (ASIP). David is also an FSA approved Non Executive Director of ACE Europe Life. In the pensions' area, he is the Independent Trustee and Chairman of the Investment Committee for the Fujitsu Technologies International Pension Plan. David is also Chairman of the Investment Committee for Total Clarity Funds Investment Ltd. 0 Quote Link to post Share on other sites More sharing options...
compo 6,579 Posted November 7, 2013 Share Posted November 7, 2013 I wonder if this arab bank connection has anything to do with the so-called secret invesrors that green brought in . 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,465 Posted November 7, 2013 Share Posted November 7, 2013 Not an appointment that excites me. Looks to have a background in the very specific area of investments, whereas we really need someone with a more general background. 0 Quote Link to post Share on other sites More sharing options...
Calgacus 8 Posted November 7, 2013 Share Posted November 7, 2013 How many shares does he own? How much money has he put into the club? Those were the taunts thrown at Paul Murray and the others acting for the dissaffected shareholders, so I think it's only fair that we are given this information on the new Chairman. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,367 Posted November 7, 2013 Author Share Posted November 7, 2013 How many shares does he own? How much money has he put into the club? Those were the taunts thrown at Paul Murray and the others acting for the dissaffected shareholders, so I think it's only fair that we are given this information on the new Chairman. "Mr Somers is not currently beneficially interested in the issued share capital of the Company." 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,544 Posted November 7, 2013 Share Posted November 7, 2013 I would assume that he's a temporary appointment, pencilled in till the AGM and to comply with AIM rules. That said, and I assume that this holds true for most of us, I don't know him and for now he'll get the time to prove himself. 0 Quote Link to post Share on other sites More sharing options...
Calgacus 8 Posted November 7, 2013 Share Posted November 7, 2013 "Mr Somers is not currently beneficially interested in the issued share capital of the Company." I wonder how the usual suspects will spin that! 0 Quote Link to post Share on other sites More sharing options...
bluebear54 0 Posted November 7, 2013 Share Posted November 7, 2013 Should we be concerned that the AGM will be the 19th. That's 2 days after the CG lock in, I believe. 0 Quote Link to post Share on other sites More sharing options...
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