Rangers Meeting Moved to Ibrox

Rangers have been forced to move next month's crucial general meeting back to Ibrox after a second hotel pulled out of hosting the event. The Ibrox board confirmed to the Stock Exchange on Tuesday morning that The Grange Tower Bridge Hotel in London would stage the shareholder vote on March 4. But hours later the five-star venue cancelled the booking after deciding the meeting - which could call time on the unpopular regime currently controlling Rangers and hand power to former oldco director Dave King - might "compromise'' the security of guests and staff. It comes just a week after the original host, the Millennium Gloucester Hotel, also pulled the plug on a deal to act as host. The meeting will now be staged at the club's home ground - although a new date will have to be set. A spokesman for Rangers said: "We are aware of the situation. There will be a statement in the morning, but we can confirm that the EGM will revert to Ibrox.'' Bosses at the Millennium Gloucester Hotel admitted they were worried the meeting would cause "significant disruption to guests and neighbours'' following reports supporters would descend on the venue in their droves to protest against directors David Somers, James Easdale, Derek Llambias and Barry Leach. And Grange Hotels took a similar stance as a spokesperson admitted: "There is no question when it comes to the comfort and security of our guests and staff. We do not compromise on this and therefore the Grange Tower Bridge Hotel has declined the opportunity to host the proposed Rangers FC EGM.'' The Hotel chain also tweeted "Jelly and ice cream is off the menu at the Grange Tower Bridge Hotel on 4th March, 2015. #EGM #RangersEGM'' - referencing a song sung by Celtic fans that mocked their Old Firm rivals during the Light Blues' liquidation meltdown. The switch back to Ibrox is an embarrassing climb-down for a board who have been at loggerheads with their own supporters for months. The decision to stage the general meeting 400 miles from Glasgow sparked outrage amongst the Gers faithful. Fans and shareholders were urged not to travel in case the threat of trouble gave the board an excuse to cancel the meeting and cling on to power. But they have now been forced to use the stadium - the scene of December's stormy AGM which saw the board roundly heckled by around 2,000 fans. Former oldco director King needs to convince at least 51 per cent of the club's shareholders to back his bid to oust the current directors. If successful, he plans to replace the current board with former Blue Knight Paul Murray, Glasgow brewery boss John Gilligan and himself. The South Africa-based businessman was bullish when he appeared at a press conference in Glasgow earlier this month, telling the board the "game was up''. The board hit back on February 6 with an attack on King's suitability for a boardroom role when it announced the original venue for the meeting. And in its 7am statement to the stock exchange, it again hinted at the Castlemilk-born millionaire's recent troubles with the South African Revenue Service. King was forced to hand the South African taxman a cheque for £44million last year in a bid to stave off an investigation which could have led to a jail sentence after earlier after accepting 41 charges of contravening income tax laws. The board's statement said: "The directors continue to recommend that shareholders vote against the requisitioned resolutions. "In the circular to shareholders dated February 6, the board set out its position which envisages representation from all major shareholder groups (including New Oasis Asset Limited a company owned by King and the group known as the Three Bears), together with independent directors, where no one interest group will have a majority influence. "The intention is that this will lead to consensus management. Offers have already been made in this regard, and dating back to before the requisition was received. "The directors consider that the board should comprise a CEO and finance director, representatives of the three largest shareholder groups, and at least two independent non-executives. This will only be achieved with consensus amongst the various stakeholders. "The requisitioned resolutions contemplate a smaller board. "There is no promise that all shareholders' interests will be represented and serious regulatory issues remain unanswered, particularly in respect of the Scottish Football Association and the position of a NOMAD in the event that the resolution to appoint Dave King is passed. "Shareholders should consider who might be running the company and whether it will continue to be traded on AIM if the requisitioned resolutions are passed. Mr King is encouraged to provide clarification to shareholders regarding these matters.''