Rangers: King group suspends trio from football board

Rangers have suspended Derek Llambias, Barry Leach and Sandy Easdale from their football club board pending an internal investigation.

Former chief executive Llambias and director Leach had already been removed from the parent company board.

Bus company owner Easdale had been chairman of the football board.

Rangers' new controlling consortium had promised an investigation into "various contracts and deals" following their takeover on Friday.

It took control following an extraordinary meeting at which South Africa-based businessman Dave King won a vote among shareholders to oust the plc board.

And on Tuesday it was announced that businessmen John Bennett and Chris Graham have been added to the Rangers International Football Club plc board as non-executive directors.

Solicitor James Blair, a partner in partner in Anderson Strathern, has been appointed company secretary.

Of the departures, Rangers said in a statement: "It is also noted that Mr Llambias and Mr Leach, along with Sandy Easdale, have been advised that a resolution to remove them as directors of the company has been received by the company.

Paul Murray is interim chairman as part of Dave King's controlling group

"A meeting may be required for this purpose, but it is hoped that this will not prove necessary."

The trio have three weeks to respond to their suspension.

They have been replaced with Paul Murray, who was appointed acting chairman of the plc board on Friday, fellow directors Douglas Park and John Gilligan, plus the club's head of football administration, Andrew Dickson.

An Easdale family spokesman said: "We are surprised at Rangers' announcement bearing in mind there is no power in Scottish law to suspend a director. We also note mention of an investigation. Sandy Easdale has absolutely nothing to fear from any investigation."

King plans to eventually become chairman but has held off joining the board until it is determined if the Stock Exchange and Scottish FA approve his appointment.

The previous board raised doubts about the Scot's suitability because of his convictions for tax offences in South Africa.

Bennett, 51, director of European Equities at Henderson Global Investors, and Graham, 38, of Graham Consulting Solutions Limited, join Murray, Gilligan and Park on the plc board.

The former was involved with Murray's Blue Knights consortium, which launched a failed 2012 bid for Rangers.

David Somers, who had been club chairman, and Easdale's brother, James, resigned from the plc board before Friday's meeting.

Llambias and Leach, who was finance director, still have executive contracts with Rangers and are business associates of shareholder Mike Ashley, the Newcastle United and Sports Direct owner.

Ashley's business has a contract to run Rangers' retail operation and the Englishman has also helped keep the Scottish Championship club afloat this season, lending the club £5m in January.

However, his own desire to increase his shareholding in the Glasgow club was thwarted by the Scottish FA, which subsequently fined Ashley £7,500 this month for breaching dual ownership rules because of his interest in Newcastle.

Rangers: Dave King reveals delay as shares are suspended

Dave King has revealed, as dealing in the club's shares were suspended, he will delay becoming Rangers chairman should he win a shareholder vote.

It follows the resignation of the club's nominated advisor, WH Ireland, ahead of Friday's extraordinary meeting at the Scottish Championship club.

South Africa-based King is hoping to oust the present board.

But his ally, Paul Murray, would become interim chairman until regulators approve his fellow shareholder's role.

Question marks have been raised about King's involvement following his conviction for tax offences in South Africa.

King believes he will not be blocked from being a director by the Stock Exchange or the Scottish FA but stressed that he recognised "the need for the regulators to be given time to complete the necessary due diligence on myself".

"It is important that I lead by example following my commitment to transparency and accountability," he said.

Chris McLaughlin, BBC Sport

"Dave King will be welcomed to Glasgow by Rangers fans like a conquering hero, but his fight for control is far from over. "In fact, it appears to be getting more complicated by the day. "The club's shares were suspended on the Stock Exchange because its nominated adviser resigned. "It then emerged that the former director won't be going on the board right away as planned. He says because due diligence is ongoing by regulators. "Instead Paul Murray, also a former director, will become interim chairman. "Yes, Friday's EGM will go ahead. Yes, the current board will be voted off. "What happens between then and now, well that is anyone's guess."

"I will therefore delay acceptance of my appointment as director until the regulators have completed due process.

"Paul Murray has agreed to act as interim chairman of the company until this process has been concluded.

"Additional board appointments will be announced in the near future."

Following WH Ireland's decision to quit, RIFC has a month to find a new nomad under Stock Exchange rules or face being withdrawn from the AIM market.

King, who had planned to change the nomad following Friday's vote, expressed surprise at WH Ireland's decision but said it would not halt the EGM.

"I confirmed my intention to delay taking up my directorship to WH Ireland on Monday," he said.

"Based on that decision, WH Ireland agreed to remain in place to effect a proper handover to the incoming nomad.

"I coordinated a call between both parties for this afternoon to effect the initial introduction.

"However, before this conversation could take place and contrary to our agreement, WH Ireland resigned without prior notification to me."

Paul Murray will be chairman until regulators give the go ahead to Dave King's involvement

King, who is flying into Scotland overnight, has claimed a "landslide victory" as he rallies shareholders behind his consortium.

Chairman David Somers and director James Easdale have already resigned as a result, leaving chief executive Derek Llambias and finance director Barry Leach as the remaining members of the board.

King's original proposal was to remove both men, who are business associates of Rangers shareholder and Sports Direct owner Mike Ashley, and replace them with himself, former Rangers director Murray and John Gilligan.

Ashley, whose company runs Rangers' retail operation and owns Newcastle United, was fined £7,500 by the Scottish Football Association for breaching the parent body's rules on dual ownership.

The club's board announced last month that it had been "informed" that WH Ireland would quit if King took power at Ibrox after noting his tax dealings in South Africa.

Announcing the suspension of share trading, Rangers said: "The directors are disappointed that this event has had to take place despite the considerable efforts they have made over the last few weeks and months against the backdrop of the general meeting requisition and wish also to record their appreciation to their outgoing nomad for all it has done for the club.

"The company has been informed that its nominated adviser does not believe that it can satisfy the London Stock Exchange in relation to its nomad obligations in respect of the appropriateness of the company's securities to be admitted to AIM.

"If the company is not able to restore trading within one month, admission of the company's securities to AIM will be cancelled.

"If requested during the suspension period, WH Ireland is willing to assist the company to implement the necessary changes for WH Ireland or another nomad to become satisfied as to the company's appropriateness for AIM.

"If a nominated adviser is appointed, it may apply to the London Stock Exchange on behalf of the company for trading to be restored."