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Thursday, 19 December 2013 15:40

Result Of AGM

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THE Company announces the results of the voting by poll on the resolutions put to its Annual General Meeting held at 10:30am on Thursday 19 December 2013 at Ibrox Stadium, 150 Edmiston Drive, Glasgow G51 2XD.

Resolutions 1-9 were successfully passed but Resolutions 10-14 did not achieve sufficient votes to be passed.

The Directors note that Resolution 10 was supported by 67.9% of the votes cast but as it is a special resolution it required a majority of 75% of the votes cast.

In line with the Chief Executive's statement of earlier today the board may seek the relevant authority again once it has completed a robust business planning process as appropriate.

David Somers, Chairman commented "We are pleased that the board, with its focus on corporate governance, prudent financial management and strategic commercial development, has been decisively re-appointed by a high turnout of Shareholders at the AGM."

Graham Wallace, CEO commented "The Board sought a clear and decisive mandate from shareholders to provide a platform for stability and is pleased that the voting has provided this. The Board recognises that improved engagement with supporters is a major area of focus and is committed to reviewing how the Club engages with the wider supporter base.  We now require a period of stability in order to take the business forward and I encourage everyone with the best interest of Rangers at heart to support fully the new Board in developing the Club and growing shareholder value."

Resolution For/Discretion (Number of Votes) % For /
Discretion 
Against (Number of Votes) % Against / Discretion  Withheld (Number of Votes  Total votes validly cast  % of
issued share capital voted 
Ordinary Resolutions
1. To receive and adopt the audited accounts
  47,852,524 92.3 4,011,341 7.7 5,614,296 51,863,865 79.7
2. To re appoint David Somers
  44,918,302 79.9 11,325,261 20.1 1,228,137 56,243,563 86.4
3. To re appoint Graham Wallace
  47,841,510 85.5 8,119,938 14.5 1,181,681 55,961,448 86.0
4. To re appoint Brian Stockbridge
  37,458,096 65.3 19,875,227 34.7 109,617 57,333,323 88.0
5. To re appoint Norman Crighton
  45,530,404 79.5 11,748,360 20.5 208,540 57,278,764 88.0
6. To re appoint James Easdale
  43,890,722 76.9 13,196,014 23.1 400,271 57,086,736 87.7
7. To re-appoint Deloitte as auditors
  46,743,195 84.2 8,761,191 15.8 1,366,384 55,504,386 85.3
8. To authorise the Directors to determine the remuneration of the auditors
  48,413,201 94.6 2,779,403 5.4 5,692,021 51,192,604 78.6
9. To re new the Directors authority to Allot Securities
  36,388,055 69.7 15,831,947 30.3 4,657,953 52,220,002 80.2
Special Resolutions
10. To renew the Directors' authority for the disapplication of pre-emption rights
   35,526,886  67.9  16,792,955  32.1  4,563,210  52,319,841  80.4
Other Business- Ordinary Resolutions
11. To elect Paul Murray
  15,927,023 31.7 34,301,380 68.3 6,673,413 50,228,403 77.2
12. To elect Malcolm Murray
  15,918,689 29.8 37,563,167 70.2 3,407,444 53,481,856 82.2 
13. To elect Scot Murdoch
  16,027,700 30.0 37,428,369 70.0 3,441,738 53,456,069 82.1
14. To elect Alex Wilson
  15,948,349 29.9 37,478,922 70.2 3,455,164 53,427,271 82.1


The number of Ordinary Shares of 1p each in issue on 17 December 2013 at 6pm (excluding shares held in Treasury - Nil) was 65,096,056. Shareholders are entitled to one vote per share.  A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes validly cast.


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