Tuesday, 23 April 2013

Charles Green to sell shares

          
The board met on Tuesday to discuss the possibility of the Easdales increasing their stake.Green, who is Rangers' biggest single shareholder with 8% of the stock, resigned last week following allegations that he colluded with former owner Craig Whyte to buy the Ibrox club's assets. It is possible the family will look to buy even more shares in Rangers in an attempt to take some form of overall control of the Division Three champions.Whyte, who the Scottish FA ruled was not a fit and proper person to own a football club, had claimed that Green was his frontman to buy the assets of the club the Scottish businessman took into administration last year.The Easdale family owns McGill's Buses, a Greenock-based company that has become the largest independent bus operator in Scotland.Green denied those accusations, but it prompted Rangers' board to announce it would be launching its own independent investigation.James Easdale is the chairman of the company that now operates more than 350 buses and around 55 routes and employs about 700 members of staff.Nottinghamshire-based businessman Craig Mather is expected to be confirmed as the new chief executive , perhaps only on an interim basis, once Green's departure from the role has been formalised.Green cannot sell his shares immediately as he is locked in by Stock Market rules until December.However, Sandy Easdale was jailed for VAT fraud in 1997, a matter thought to concern current Ibrox board members.But the Englishman has informed Rangers' board that he intends selling to Easdale, who has agreed to buy.

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