Dave King blasts Rangers ‘nomad’

The AIM market took the action following WH Ireland’s decision to quit ahead of tomorrow’s EGM.

King, who is poised to take control, had planned to change the nominated advisor (Nomad) following the vote.

But he claims WH Ireland reneged on an agreement to hold off until there was a proper handover to a new nomad.

“I confirmed my intention to delay taking up my directorship to WH Ireland on Monday,” said King.

“Based on that decision, WH Ireland agreed to remain in place to effect a proper handover to the incoming nomad. I co-ordinated a call between both parties for Wednesday 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.

“That lack of professionalism has characterised WH Ireland’s role as nomad and reinforces why there was a complete lack of governance and transparency under its watch.

“Consequently, to WH Ireland’s and the board’s knowledge, it is blatantly dishonest to suggest that my imminent appointment to the board was of concern to them.”

King, if he wins power, has a month to find a new nomad under Stock Exchange rules.

If he fails to do so, the club would be withdrawn from the AIM market, making it more difficult to raise funds.

King has claimed a landslide victory as he rallied shareholders behind his vote to replace the board.

Chairman David Somers and director James Easdale have already resigned, leaving chief executive Derek Llambias and finance director Barry Leach the remaining directors.

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