DAVE KING will delay his ascent to the Ibrox throne until he has been given the all clear by Stock Market and SFA chiefs.

The former Rangers director declared victory in his battle against the board on Tuesday and is poised to be handed the keys to Ibrox in the aftermath of Friday's EGM.

King has revealed that he will take up the position of chairman on the new-look Light Blues top table, but only after 'due process' has been completed.

One of the hurdles that stands between King and the Ibrox chairmanship is the SFA 'fit and proper person' criteria that he will have to satisfy.

Paul Murray will assume the role of interim chair in the coming days, while John Gilligan will also take a seat on the board as Derek Llambias and Barry Leach get set to head for the exit door.

King said: "An important issue that was repeatedly (and correctly) raised by the previous board is the need for the regulators to be given time to complete the necessary due diligence on myself - given my intended role as chairman of the company.

"However, engagement with the regulators can only commence at the specific request of the company and that process can only be initiated on conclusion of the general meeting.

"It is important that I lead by example following my commitment to transparency and accountability.

"I will therefore delay acceptance of my appointment as director until the regulators have completed due process.

"Paul Murray has agreed to act as interim chairman of the company until this process has been concluded.

"Additional board appointments will be announced in the near future."

The return of King to Ibrox will be warmly welcomed by supporters as he edges closer to a significant victory that will finally see Llambias and Leach leave Rangers following the exits of James Easdale and David Somers in recent days.

The businessman faces a huge task to overhaul the club from top to bottom but has vowed to 're-build relationships with the football community in Scotland'.

There was another twist in the tale yesterday when Nomad WH Ireland quit just days before the EGM but that won't halt King, Murray and Gilligan in their tracks.

King must appoint a new Nomad with 30 days to avoid RIFC plc being struck off from the Stock Exchange and the South Africa-based businessman is unhappy at the way in which the affair has been handled.

He said: "I confirmed my intention to delay taking up my directorship to WH Ireland on Monday.

"Based on that decision WH Ireland agreed to remain in place to effect a proper handover to the incoming Nomad.

"I coordinated a call between both parties for this afternoon to effect the initial introduction.

"However, before this conversation could take place and contrary to our agreement, WH Ireland resigned without prior notification to me. That lack of professionalism has characterised WH Ireland's role as Nomad and reinforces why there was a complete lack of governance and transparency under its watch.

"Consequently, to WH Ireland's and the board's knowledge, it is blatantly dishonest to suggest that my imminent appointment to the board was of concern to them.

"Fortunately, the general meeting is not affected by the suspension. The new board will proceed to ensure that the listing is resumed as soon as possible."