Rangers board unable to get listed
Three weeks after Rangers were
formally delisted from the London Stock Exchange (LSE), it has emerged that they have failed to even apply for an alternative stock market.
The favourite supposed
destination was the ICAP Securities & Derivatives Exchange market, otherwise
know as the ISDX, which is currently where Arsenal trade, but it has been
revealed no application has even been made, never mind processed.
It has been claimed by unverified
sources that an application has been rejected by the ISDX, with an unconfirmed
quote pertaining to be from aforementioned exchange market:
“We are not a market for AIM rejects.”
Veracity of this statement
notwithstanding, (Murray denies it outright) it is clear that almost a month
after delisting, and the promises from Paul Murray about imminent reinstallation
onto another AIM are starting to look hollow, with continued lack of investment
apparent, silence on King’s Fit & Proper Person test, and no clear
direction forward.
On the ISDX situation, Murray added:
“During the course of the week of March
30 we requested a time extension from the AIM Regulation team to enable the
Company to “fast track” across to the ISDX exchange.This would have
taken five business days and would have been a cost effective and seamless
process for shareholders. It would have enabled trading to have commenced on
ISDX immediately. In their wisdom the AIM Regulation team refused to grant this
extension and the Company’s shares were delisted on April 7.”
Knowing the shares were about to
be delisted (despite claims to the contrary) from the LSE, Rangers tried to set
the ISDX ball in motion in advance, but it met a brick wall.
What is most certainly clear –
Rangers are seriously struggling to cope on or off the field.