The Company is pleased to declare the outcome of the GM. The Resolution was successfully passed with the votes cast as follows:
Votes for: 48,565,961 (81.9%)
Votes against: 10,772,951 (18.1%)
There were 78,234,181 shares eligible to vote at the meeting and of those the percentage voting was 75.85%. The votes cast as a percentage of the total issued share capital of the Company was 41%. 8,502 votes were withheld. *
Rangers Chairman, Dave King, thanked shareholders for their continued backing of the Club and its Board.
”This is an important marker in the recapitalisation of the Company and significantly improves its balance sheet, enabling the conversion of over £14m of debt into shares.”
*Votes withheld are not a vote in law and are not counted in the calculation of the proportion of votes for and against a resolution.