• STV
  • MySTV

Paul Murray to be Rangers chairman until King ruled fit and proper

Dave King will delay taking Ibrox throne until Scottish FA approve bid to take power at Rangers.

Paul Murray: Former Rangers director hopes a CVA will happen.
© SNS Group

Paul Murray will appointed Rangers chairman until Dave King is ruled a fit and proper person to take charge.

King has announced he will delay taking the Ibrox throne so the stock exchange and Hampden chiefs can fully vet his bid to become Rangers chairman.

The former oldco director has already announced he is set to claim a "landslide" victory when shareholders vote out the current board on Friday.

His announcement came after it was revealed trading in Rangers shares were suspended following a move by its nominated adviser (Nomad) to quit.

WH Ireland resigned with immediate effect on Wednesday, stating it does not believe it can properly "satisfy its obligations"

It is a further indication that King is a step closer to winning his boardroom battle to take control at Ibrox.

King had himself said that if he was successful in becoming a director after Friday's EGM, that he would remove WH Ireland as Nomad and appoint his own.

If a new Nomad is not appointed within a month then Rangers will be struck off the stock exchange.

Before starting his reign, the Johannesburg-based businessman has confirmed he will let the Scottish Football Association and regulators from the London Stock Exchange determine if he is the kind of fit and proper person they want in charge of the Glasgow giants.

Former Blue Knight Paul Murray will be installed as interim chairman while King sets about proving his worthiness.

King will be grilled on his previous dealings with the South African Revenue Services (SARS), in which he was ordered to pay £44m in 2013.

SARS claimed King owed £149m but he was spared jail after accepting liability for 41 lesser charges in relation to income tax laws.

King said in a statement on Wednesday night: "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."

Friday's crunch EGM, which will determine the future board in power at Ibrox, is expected to still take place despite the suspension of trading in Rangers.

Former chairman David Somers and former director James Easdale both stepped down from their roles in recent days as the battle for power intensifies.

Chief executive Derek Llambias and finance director Barry Leach are the only incumbent board members but are expected to be overthrown on Friday.

Stock Exchange bosses halted the sale of Rangers International Football Club PLC stocks at 4pm after its nominated adviser WH Ireland quit.

Feedback: We want your feedback on our site. If you've got questions, spotted an inaccuracy or just want to share some ideas about our news service, please email us on web@stv.tv.

Download: The STV News app is Scotland's favourite and is available for iPhone from the App store and for Android from Google Play. Download it today and continue to enjoy STV News wherever you are.

Join in: For debate, chat, comment and more, join our communities on the STV News Facebook page or follow @STVNews on Twitter.

Updates: Would you like STV's latest news update in your inbox every morning? Choose from our range of regular e-newsletters here

One account. All of STV.

This field is required. That doesn't look like a valid e-mail format, please check. That e-mail's already in our system. Please try again.
ShowHide
Forgot password?
This field is required. At least 6 characters please. Did you enter your details correctly?
If you've forgotten your details then use the 'Forgot password?' link.
Need to reset your password?

We'll send a link to reset your password to

We've sent you details on how to reset your password

Please check your email and follow the instructions.

Forgotten your email address?

Have you forgotten the email address that you previously joined with? Don't worry, by emailing enquiries@stv.tv we can help.

One account. All of STV.

This field is required. Please enter at least 2 characters
This field is required. Please enter at least 2 characters
At least 6 characters please
ShowHide
This field is required. At least 6 characters please.
You have to be 16 or over to join
This field is required. This doesn't appear to be a valid date
Type your full postcode and select your address This field is required. It doesn't look like you've entered a valid postcode. Can't find your address? Confirm the details you've given us are correct by clicking here

By continuing you agree to our Terms of Use, including our Privacy Policy and Cookie Policy. Any issues contact us.

Upload Profile Picture

Please make sure your image is under 2mb in size and a valid JPG, PNG or GIF.

Are you sure?

Unfortunately, you'll be unable to access our premium content. We’ll be sorry to see you go, but if you change your mind you can rejoin us at any time.

Please verify your STV account

Please verify your STV account using the email we sent you. If you have lost the email, we can send you another one, just click the button below.

Thanks

We've sent you a new verification email.
Please check your email and follow the instructions to verify your account.

Welcome to STV
Thanks for joining us.

Oops!

Sorry, you must be at least 12 years old to place a vote for your Real Hero.

Please review our Voting Terms of Use for more information.

Oops!

Sorry! It seems that you are using a browser that is incompatible with our voting service.

To register your vote please copy the below URL in to your regular mobile browser. We recommend Google Chrome, or Safari.

http://shows.stv.tv/real-heroes/voting

Oops!

Sorry, you seem to have already voted in this category.

Thanks for voting

Now share your vote with friends on your social network

Share on twitter Share on facebook

Cast your vote

Please register or sign in to continue.

Cast your vote

This field is required. This doesn't appear to be a valid date

Cast your vote

Please fill out this form to cast your vote. As you are under 16 years old you will not create an STV account. Why do we need these details?

This field is required. Please enter at least 2 characters
This field is required. Please enter at least 2 characters
This field is required. That doesn't look like a valid e-mail format, please check.
Location This field is required.
Parental Consent This field is required.

That's you. All that's left is to click the 'Submit Vote' button below. By doing so, you confirm that you and your parent or guardian have read and accept our Voting Terms of Use, Privacy Policy and Cookie policy, and that the details you have entered are correct. We'll look after them as carefully as if they were our own.