Rangers' largest shareholder calls on director to repay £200,000 bonus

Last updated : 10 December 2013 By Grandmaster Suck


Statement on Fan Meeting with Shareholders




"Union of Fans Meet with Rangers Shareholders


Representatives of the Rangers Union of Fans have been in London for the past two days,  meeting with a number of significant shareholders in Rangers. We put across the overwhelming wish of supporters for change in the boardroom. 


During the meeting with Colin Kingsnorth of Laxey, kindly organised by the London Rangers Supporters Club, we explained the severe trust issues which Rangers fans have with some of the current board, most specifically Brian Stockbridge. These issues were articulated clearly at the weekend via the large scale protest at Ibrox. We also impressed upon him the need for the appointment of trusted directors.


Mr Kingsnorth is now fully briefed on the fans feelings and appeared to share the majority of our concerns on Mr Stockbridge. He also revealed that he had insisted that Mr Stockbridge repay his £200k bonus from last year or that Laxey may not support his re-election. He believes that in response to this possible loss of significant shareholder support, Mr Stockbridge had returned, or would return, this money prior to the AGM. He also acknowledged that this was far from the only issue with Mr Stockbridge.


Despite broad agreement on fans' concerns, Mr Kingsnorth indicated that Laxey were unlikely to change their already submitted and publicly stated vote. We remain unclear on the reasoning behind this, particularly given these shared concerns.


Following this round of meetings, it would appear that the AGM result will be particularly close as there are numerous different claims of support. It is clear that the 12% of voting rights held by the Rangers support can be absolutely crucial to the result at the AGM. 


We urge all fans to make sure your vote counts by attending the AGM in person or, if you cannot attend, proxying your vote to someone who can.