Rangers fans’ group blasts share issue blunder

Former chief executive of Rangers Charles Green. Picture: Hemedia
Former chief executive of Rangers Charles Green. Picture: Hemedia
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A LEADING Rangers fans’ group have criticised the club’s board for what they believe to be another example of “incompetence” after Charles Green and Brian Stockbridge’s signatures appeared on new share issue certificates.

The club raised £3.13m from the share option, with fans once again dipping into their own pockets to try and solve the cash flow problems.

Those that did received an unexpected surprise when they were greeted with the names of the two controversial ex-boardroom members on their certificates.

Former chief executive Green stepped down in April 2013 following allegations that he was aided in his takeover of Rangers by disgraced former owner Craig Whyte.

Stockbridge had been financial director until the start of this year, but he too resigned after pressure following revelations of a £200,000 bonus he’d given himself (and then gave back) when Rangers won the old Third Division.

Rangers quickly excused the inclusion as a “printing error” before apologising for the confusion.

The Union of Fans have accepted the club’s version of events, but still believe it’s indicative of the chronic problems behind the scenes.

“I don’t think the names of Green and Stockbridge on that certificate is a conspiracy by any stretch of the imagination, but just more incompetence,” spokesman Chris Graham told The Herald.

“It seems the template from the last lot of shares has been used.

“However, it does not come as a huge surprise that this has not been done properly along with pretty much every other piece of governance within the club.

“The board have a responsibility to get things right.”

This issue arose on the same day that Daniel Stewart Securities, the club’s adviser on the Alternative Investment Market, had its shares suspended from trading because they’d missed deadlines to publish their annual accounts.

“There has always been a degree of concern about Daniel Stewart,” continued Graham.

“I know that shareholders have been trying to get the shareholder register from them and not getting anything back and there has been a sense they are out of their depth.”

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