Walter Smith has proxied his shares in Rangers to the Rangers Supporters Trust (RST) ahead of the club's EGM on Friday.

RST, who announced the former Ranger's managers backing earlier today, now has voting rights over 5,122,096 shares, 6.3% of the club's shareholdings, for the EGM.

The group said it is delighted to have the backing of the Ranger's legend in its calls for change at the Ibrox club.

In a statement RST spokesman, Chris Graham, said "Obviously we are delighted that Walter has agreed to proxy his shares to us. He knows as well as anyone what damage has been done to the club over the past few years and we are sure he shares our hope that things are about to change for the better.

"He is a club icon, a legend as a manager, but most importantly a fan and he has been suffering along with the rest of us, watching what has happened to our club.

"Hopefully the time is coming where people like Walter and John Greig can return to Ibrox to watch their team along with the rest of us. When they do I think we'll know that things are moving in the right direction again.

"The RST will now be voting a very significant portion of the shares at the upcoming EGM and our work behind the scenes to secure significant proxy votes has been successful.

"We still hope the remaining board members, Barry Leach and Derek Llambias, will do the right thing and resign prior to the EGM. They should save the club the cost of the meeting given that they must surely know their time is up."

Smith's share proxy follows David Somer's decision to stand down as chairman of the club.

The club is due to hold its EGM on Friday, March 6.