SANDY Easdale has joined the football club board at Rangers, which is separate from the PLC board at the focus of a power struggle.
Two weeks ago the Greenock-based businessman claimed to hold the largest shareholding at Rangers, through his family holdings and other supporting investors, after securing a deal to buy the shares of former chief executive Charles Green. His brother, James, is on the PLC board.
Sandy Easdale had recently been proposed as a PLC director as part of a compromise agreement between the board and an opposing group of shareholders fronted by Clyde Blowers chairman Jim McColl. However, the deal broke down.
His appointment, which was announced on the Companies House website, is to the board of The Rangers Football Club Limited, the company previously known as Sevco Scotland.
He is therefore not subject to re-election at Rangers’ annual general meeting, which they have promised to hold before the end of October.
Sandy Easdale was jailed for VAT fraud in 1997 but now runs a successful group of businesses with his brother, including McGill’s Buses.
According to the list of appointments and departures on the Companies House website, the football board now consists of both Easdale brothers plus chief executive Craig Mather and finance director Brian Stockbridge.
The board of Rangers International Football Club PLC, which owns 100 percent of the football club and is the company listed on the London Stock Exchange, contains five men - Mather, James Easdale, Stockbridge, Bryan Smart and Ian Hart.
The group of shareholders who were seeking change had wanted the removal of Mather, Stockbridge and Smart at a general meeting but they withdrew their requisition during the week.
That group claimed on Friday that a compromise deal had been blocked by the club’s broker and nominated advisor, Strand Hanson. Blin subsequently stepped back from the process but the demand for change remains and is set to come to a head at the AGM.
The group say they have an official mandate from 28 percent of shareholders but believe they can secure more support at the AGM.
On Friday night, Mather issued a lengthy statement calling for Murray to withdraw his challenge while stating that McColl, who was not seeking a directorship himself, would have been a valuable addition to the board.