Clyde Blowers chairman McColl is leading a group of disgruntled shareholders who want to topple Mather and his fellow directors Brian Stockbridge and Bryan Smart and replace them with Paul Murray and Frank Blin.
Yesterday it was announced that although the two sides failed to reach a compromise on demands for change, they had agreed to merge a vote on the boardroom swap into the club’s as-yet-unscheduled annual general meeting.
The move will save Rangers an estimated £80,000.
In a statement to the London Stock Exchange, the Rangers board said it had been in “continual discussions” with the requisitioners.
However, McColl said in a newspaper interview that his group would not be swayed from their attempts to remove Mather from the Ibrox boardroom.
He told the Daily Record: “There will be no compromise on our part. The board has been unable to make the changes the shareholders wanted and the only reason we agreed to hold off is to adopt a common sense approach.
“It would cost around £80,000 to stage an EGM next month. Then, two weeks later, there would be similar costs incurred by an AGM.
“So this is our way to avoid wasting money. We are simply doubling it up into one meeting. But the demands remain the same.
“The motions we have already put forward, for the removal of Brian Stockbridge, Craig Mather and Bryan Smart and the appointments of Paul Murray and Frank Blin, will be presented on the same day in order to save costs.
“The stakeholders have given us a mandate to stick with the motions put forward which is precisely what we are doing.”