Rangers: David Somers ‘reported to stock exchange’

Rangers chairman David Somers. Picture: PA

Rangers chairman David Somers. Picture: PA

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DAVID Somers feared that terms offered by Rangers shareholder Mike Ashley would lead to a takeover of the club by former director Dave King and his ousting as Rangers chairman, an email has revealed.

As a result, stock market officials have been asked to probe Somers conduct over alleged breaches of AiM rules.

The email, first disclosed by the Daily Telegraph, sees Somers express doubts over his position should King succeed in a takeover bid, which he says would also push out Sandy and James Easdale. The correspondence also contains a threat by Somers to cancel the club’s merchandising deal with Mike Ashley’s Sports Direct firm.

Somers has been reported to the AiM investigations office by a club shareholder, who expressed concern over the chairman’s behaviour.

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Copying in the club’s LSE nominated advisor (NOMAD) and Ian Davidson MP, the shareholder wrote: “On Tuesday 23rd December, the Telegraph newspaper online carried a story by journalist Roddy Forsyth, regarding an e-mail sent by the Rangers International Football Club Chairman David Somers to members of the board and surprisingly non-members, including a representative of Sports Direct - Justin Barnes.

“The e-mail not only indicated the Chairman’s preference for investment by Mike Ashley of Sports Direct, it actively encouraged this investment, in order, it seems, to secure the Chairman’s position and that of other board members and strangely enough a non-member (one Sandy Easdale), who seems to be party to PLC Board internal communications and - if the e-mail is to be read correctly - acting as a shadow director.

“A major concern for shareholders such as myself is, does activity such as this construe a “Concert Party” arrangement between board and non-board members with regards to overall boardroom influence?”

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