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Rangers Share Trading Suspended On Stock Exchange

The Scottish giants have been through some tough times in recent years…

Shares in Rangers International Football Club PLC have been suspended by the AIM market, a sub-market of the London Stock Exchange, the Scottish club have told the shares market according to the BBC.

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This news follows the resignation of Rangers’ nominated advisor before the Glasgow club’s extraordinary general meeting this Friday at Ibrox, where shareholder Dave King, who has previous convictions relating to South African income tax laws, is widely expected to take control of the club.

RIFC now have one month to appoint a new nominated adviser otherwise they face being withdrawn from the London Stock Exchange.

A statement from the company read, “The company has been informed that its nominated adviser does not believe that it can satisfy the London Stock Exchange in relation to its nomad obligations in respect of the appropriateness of the company’s securities to be admitted to AIM.

“If the company is not able to restore trading within one month, admission of the company’s securities to AIM will be cancelled.”

Chairman David Somers and director James Easdale have already resigned from the Rangers board as a result of King’s likely stewardship of the club, leaving Derek Llambias and Barry Leach as the only remaining members.

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