SANDY EASDALE has threatened to sue to the Rangers board after accusing them of misleading shareholders over the Light Blues' stock market listing.

 

Rangers International Football Club plc last confirmed yesterday that their shares will be removed from the Alternative Investment Market after they failed to appoint a new Nominated Advisor.

The resignation of WH Ireland on the eve of last month's EGM saw trading suspended and gave the new Gers regime just four weeks to find a replacement.

And Easdale, who resigned from his position on the Football Board just days after Dave King, Paul Murray and John Gilligan seized control at the shareholder summit, has hit out at the new board for their handling of the situation.

He said: "I think we have been misled on several occasions, with Dave King and Paul Murray saying that they had a Nomad and it was a certainty that the club would keep its listing.

"We were well aware, the previous board made it public, that the club could suffer delisting if the Requisitioners went ahead, and especially with Dave heading it up.

"I think they had a chance to keep it listed if Dave had stepped aside but I am not sure why they are using that tact.

"Up until the other board was dismissed, it was still a listed company and could trade shares up until WH Ireland resigned.

"I think categorically we have been misled. Dave said on several interviews, TV interviews, that he had a Nomad and he felt comfortable that he would be found fit and proper and the company would still be listed, which I would have hoped would have been the case.

"I don't think we would be taking Rangers to task. Our group, it is more on a personal basis with the individuals who misled the shareholders into thinking the shares would still be on AIM market."

The blast from Easdale came shortly after his advisor Jack Irvine released a statement claiming that the pronouncements from the board were a 'masterpiece in obfuscation, presumably with the intention of disguising the fact that the shares will trade at a massive discount.'

The war of words is another twist in the Ibrox tale and comes as the new regime set about rebuilding the club after their landslide EGM victory.

In response to Easdale's claims last night, a Rangers spokesman said: "Rangers has suffered from gross mismanagement since the IPO and during that spell Sandy Easdale and James Easdale were on the boards.

"Do they really expect supporters to believe they weren't in any way responsible for the problems the new board has inherited? I'm sorry but I thought April 1st was yesterday."