Sandy Easdale Reported to Financial Authorities

[chilledbear 16]

http://www.dailyrecord.co.uk/sport/football/football-news/rangers-investor-sandy-easdale-reported-3705160#.U58hYzngjDE.twitter[/A LEADING Rangers fan has reported Ibrox investor Sandy Easdale to the financial authorities over alleged insider dealing.

 

Mark Dingwall, former spokesperson of the Rangers Supporters Trust, claims Easdale made a paper profit from buying shares on the back of knowledge in a statement to the BBC to which he should not have been privy.

 

Dingwall, moderator of the followfollow fan website, has written to the Stock Exchange, Financial Conduct Authority and Rangers NOMAD Daniel Stewart asking them to investigate.

 

In his correspondence, which has been seen by Record Sport. Dingwall also claims Easdale, who has a conviction for a £1.5 million VAT fraud, is effectively acting as a shadow director of Rangers International FC plc, the parent company of the football club.

 

His brother James Easdale is a director of Rangers International, but Sandy is chairman only of the Rangers football board.

 

Dingwall was prompted to act after Sandy described the club’s finances in a BBC interview on April 24 as “fragile” ahead of the release of the club’s eagerly-awaited 120 day business review.

 

Dingwall has written: “I wish you to investigate the possibility that Mr Alexander James Easdale is acting as a shadow director of Rangers International Football Club Plc and has used knowledge derived from such a position to enrich himself via the buying of shares in the company.

 

“Mr Easdale is a director of the wholly-owned subsidiary company, The Rangers Football Club Ltd, but with apparent access to RIFC Plc financial information.

 

“He made a public statement on April 24 this year - prior to the 120-day business review issued the next day by RIFC - stating the financial position of the club was ‘fragile’.

 

“Mr Easdale appears to have attended an RIFC Board meeting (and his brother is a member of the RIFC Plc Board) that day and certainly appears to have knowledge of the content of the commercially sensitive 120 Day Review prepared by the company.

 

“On April 24 the share price was 26p. That day after he made his statement it fell to 22p.

 

“Mr Easdale bought 57,043 shares at 23p on May 1. By May the 8 the price had recovered to 27p.

 

“It is also noteworthy that Mr Easdale holds the voting rights to, but does not own, shares representing a further 22.10% of RIFC Plc.

 

“I believe that, if he does have privileged financial information, those shareholders he holds proxies for may also have access to it or otherwise benefit from that knowledge.”

 

At 23p, Easdale’s share purchase cost him £13,119.89 - £1,700 less than it would have on April 24. Had he chosen to sell the shares on May 1, when the price reached 27p, he would have made a profit of almost £2,300.

 

Rangers and Sandy Easdale declined to comment.

[BEARGER 1,830]

Well done Mark Dingwall.

[Ser Barristan Selmy 222]

Don't like either of them.

[BEARGER 1,830]

Don't like either of them.

 

No surprise there then.

[the gunslinger 3,366]

Lock him up like Gordon geko

[buster. 5,257]

Well done to Mark and Billy Paterson for taking on the metaphorical 'fight' to have the club run properly.

[forlanssister 3,114]

The insider dealing claim is nigh on impossible to prove however there can be little doubt that Sandy Easdale has been acting as an undeclared shadow director.

[RANGERRAB 3,732]

What's always puzzled is how a couple of bus operators managed to gain the trust of all these financial investors. Any ideas?

[Super Cooper 0]

What's always puzzled is how a couple of bus operators managed to gain the trust of all these financial investors. Any ideas?

 

They are doing someone elses bidding for them. Manchester Mafia apparently.

[Bluedell 5,679]

The insider dealing claim is nigh on impossible to prove however there can be little doubt that Sandy Easdale has been acting as an undeclared shadow director.

 

Again, difficult to prove as most of the business of the "club" is covered by TRFCL, which he is a director of.