THE investment firm which has become one of the main shareholders of Rangers is to vote in favour of removing directors from the club.
Laxey Partners Limited, which bought one million shares in Rangers International Football Club plc to become the fourth biggest shareholder, said it was supporting the fans' view in the boardroom revolt.
But the firm would not go as far as to back the three supporters' groups who have challenged the board to remove former chief executive Charles Green from his role as a paid consultant at a club board meeting today.
An extraordinary general meeting (EGM) is still to be scheduled after a group of shareholders led by leading Scottish businessman and entrepreneur Jim McColl demanded the removal of key executives and the appointment of two new directors, including ex-Rangers oldco boardroom figure Paul Murray.
A statement issued by Rangers Supporters Assembly, Rangers Supporters Association, and Rangers Supporters Trust, also backs the move by Mr McColl's group to oust chief executive Craig Mather, financial director Brian Stockbridge and non-executive director Bryan Smart.
The requisition calling for the meeting is also demanding the appointment of former Price-waterhouseCoopers chief Frank Blin to the board.
It is believed a compromise is being sought to find a way forward with Mr Mather and Mr Stockbridge remaining on board.
Laxey co-founded Colin Kingsnorth said: "We are going to support the supporters' clubs' wish on votes which we believe is to change the board at the moment.
"I think the supporters clubs have it bang on. As I understand it the EGM
will either change the board or agree some way forward with Craig and Brian plus the proposed people.
"I think the requisitionists will either agree a way forward with Craig and Brian or [they will] be removed. That's my guess but we aren't part of the process and will vote as supporters' groups recommend."
Today the Rangers board is scheduled to discuss the future of Mr Green, who said in media interviews following his return that questions should be asked about the future of club manager Ally McCoist should the team fail to win either the Scottish or League cups this season.
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