Q: Fans' groups were told on Thursday evening there was only £10m in the bank.
Is that enough?
A: Difficult to judge. Former Rangers director Dave King claims the money will run out before Christmas, but that depends on how much can be raised through other revenue streams, such as commercial deals, strip sales and matchday tickets. But it is likely Rangers will need some form of new investment between January and next summer.
Q: Does this include money raised in last December's share issue?
A: Yes. The share issue raised £22 million, while around a further £8m was also collected from season-ticket sales and £1.5m from the deal with Sports Direct. Of that total, only £10m remains.
Q: Where has the money gone?
A: Executive and football management salaries, 100% bonuses to Charles Green and finance director Brian Stockbridge for winning the Third Division, and running costs likely accounted for a fair chunk. The club also says money went on buying Edmiston House, Albion Street car park, and essential maintenance at Murray Park. The rest has been attributed to costs associated with the IPO.
Q: Why has a general meeting been called?
A: Concerned shareholders, including Jim McColl, issued the club with a requisition notice due to issues about the way the club was being run and its finances. When Green returned as a paid consultant, Walter Smith stood down as chairman and effectively backed the requisition notice.
Q: What does the notice propose?
A: It calls for chief executive Craig Mather, Stockbridge and non-executive independent director, Bryan Smart, to step down and be replaced by former director Paul Murray and accountant Frank Blin, the ex-boss of accountancy firm PricewaterhouseCoopers Scotland
Q: How long has the board got to respond?
A: The requisition notice must be acted on by the board and changes made within 18 days. If nothing happens, a general meeting must take place within 21 days after that. From today, there are nine days left.
Q: If a general meeting takes place, who can attend and vote?
A: Shareholders or their proxies are eligible to take part, and it is usual for around 60-70 % to attend meetings such as this. The vote will be taken from those who are actively able to participate, either on the day or by post.
Q: Is a straight majority needed to pass a resolution?
A: Yes. Charles Green claims to represent 51% of shareholders.
Q: What happens if the moves succeed? And if they fail?
A: If the changes to the board go through, expect Frank Blin to instigate a forensic examination of Rangers' finances. If it fails, the status quo would prevail, although a period of stability is unlikely as fans' and shareholders' concerns will not go away.
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