FORMER Rangers chairman Dave King voted against the reappointment of Graeme Park to the Ibrox board at Tuesday’s Annual General Meeting.
Park will serve another term at top table after gaining the support of 81.1 per cent of shareholders as deputy chairman John Bennett and director Alastair Johnston were also re-elected with 100 per cent and 98.5 per cent of the overall votes cast.
But Herald and Times Sport can reveal that King used his 15.45 per cent stake in RIFC plc – which is held through New Oasis Asset Limited – to vote against Resolution Two and the election of Park to the board.
Businessman Park, the son of current Rangers chairman Douglas Park, has sat on the main plc board since August 2015 and previously held a position with The Rangers Football Club Ltd.
The 37-year-old represents the board on the committee for Rangers’ 150th anniversary celebrations as the champions prepare to toast the landmark milestone later this season.
Park Jnr served as a director during King’s tenure as chairman before he stepped down in March last year and handed over the reins to his fellow investor as he brought an emotional end to his crucial multi-million pound funding drive at Ibrox.
The South Africa-based businessman has agreed a deal with Club 1872 that will see him transfer his major shareholding in Rangers to the fan organisation as supporters are given a once-in-a-lifetime opportunity to have a meaningful say in the ownership and running of their club.
King holds more than 65million shares in RIFC plc and, as well as voting against the reappointment of Park to the board, he declined to give his support to Resolution Eight on the AGM poll card.
That motion – which allows directors to issue shares to specific investors and has been used extensively in recent years – was passed with 79.2 per cent backing from shareholders as Rangers confirmed the results on Tuesday evening.
Club 1872 would earlier approve all Resolutions following a poll of members but Park earned the lowest approval rating of the three standing Ibrox directors as just over five per cent voted against his re-election to the board.
Bennett and Johnston received more than 94 per cent of the supporter vote as 2.39 per cent of members abstained in all three cases and declined the chance to have their voice heard at the AGM.
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