Rangers’ trading suspended


Rangers’ today confirmed trading
on the London Stock Exchange has been temporarily suspended.
Rangers’ NOMAD (Nominated Advisor)
has reportedly resigned (the fourth resignation in 24 months) and as such
Rangers are unable to continue trading.
The reason cited for the
resignation is due to the uncertainty caused by the impending change of board
and flux within the plc, stopping the Ibrox NOMAD being able to ‘trust’ the business
and stock environment enough within Rangers for the time being.

Thus it has become absolutely
critical now for Kingco to not only win the EGM (a foregone conclusion) but
appoint a new NOMAD as soon as possible in order to resume shares and trading
on the LSE.
This would also have been a
problem with both Llambias & Leach resigning (not taken place yet) but the
solution would have been their instant replacement.
With those two looking for
severance, no NOMAD can be appointed in the interim until King is on board.

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  1. This outcome was expected. DK made is very obvious that he wished to dispense with the services of the current nomad. They have jumped before they were pushed. No need to panic. We can expect more of the same over the next few weeks.

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