The consortium, led by engineering tycoon Jim McColl, has allowed more time for the club to negotiate an alternative to a potentially explosive extraordinary general meeting (EGM), which the club says could cost them £80,000. Rangers would prefer to incorporate discussions on boardroom changes into the agenda for the annual general meeting in October.
Mr McColl and his team requisitioned the EGM to oust chief executive Craig Mather, finance director Brian Stockbridge and non-executive director Bryan Smart. However, negotiations with the club have opened up following the departure of former chief executive Charles Green, who was acting as a club consultant until last month.
Final approval has yet to be granted by the "requisitioners" over the meeting and the current directors have been given to September 9 to satisfy their concerns.
The original deadline passed on August 27 but the two parties had been unable to reach an agreement.
A statement to the Stock Exchange read: "Progress has been made to agree a basis upon which the business of the general meeting would be included in the annual general meeting.
"The board wishes to reach agreement for the withdrawal of the requisition without delay but in the meantime has secured a further extension to the written commitment from the requisitioners to withdraw the requisition pending agreement being reached.
"If no agreement is reached by the close of business on September 9, the board will be required to send notice to shareholders by September 13 to convene the general meeting."