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Rangers are forced to de-list from the stock exchange

By Staff Reporter

Published 03/04/2015

Back on board: (from left) John Gilligan, Dave King and Paul Murray at Ibrox
Back on board: (from left) John Gilligan, Dave King and Paul Murray at Ibrox

Rangers have been forced to de-list from the stock exchange after failing to secure a new nominated advisor (Nomad).

Previous Nomad WH Ireland quit just before the March 6 general meeting which saw a new board sweep to power at Ibrox.

Trading in shares was suspended because of the resignation and the club have been unable to find a replacement within the 28-day deadline.

Rangers say that is because of the "failings in corporate governance" of previous regimes, which meant they were subject to more complaints to the AIM stock exchange authorities than any other company over the past 12 months.

The club are in negotiations to move shares trading facilities to a different platform and say that shareholders can still trade privately.

In a statement, they said: "There is no reason why de-listing should adversely impact on the value of the company's shares or on the company's financial condition or prospects."

Belfast Telegraph

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