The Rangers Shares Delisted From Aim Stock Exchange

[TheDarkBlues]

Rangers International Football Club plc is being delisted from the AIM Stock Exchange.

RIFC said that it is in negotiations to move trading to a different platform.

Trading in the company's shares were suspended on 4 March following the resignation of its nominated advisor (nomad), WH Ireland.

However, RIFC's new board has been unable to appoint a new advisor before Thursday's deadline to remain listed expired.

The suspension of shares came after the removal of the previous board by a shareholder group led by former director Dave King.

BBC Scotland has learned that, despite it still being possible to trade stock privately, a number of shareholders are considering legal action as a result of the delisting.

It is also understood that at least one complaint has been made to the Financial Conduct Authority, but that body has no jurisdiction over Rangers.

A Rangers statement read: "It is simply the result of the well-documented failings in corporate governance and management of those who previously controlled the company."

The club said AIM received "more complaints about the company than any other company on its exchange over the last year".

At the time of the extraordinary meeting that deposed the previous board, South Africa-based King expressed his confidence that a new nomad could be appointed.

King, who has convictions for contravening South African tax laws, had hoped to be appointed to the board.

Read the rest: http://www.bbc.co.uk/sport/0/football/32164350

[islaydarkblue]

Prior to Rangers going into administration their shares were previously traded on a "matched bargain" trade which from memory was listed on the Ofex market. This meant that if a Rangers shareholder was looking to sell shares then a nominated stockbroker had to try to find someone willing to purchase the shares. This system was very time consuming and it could result in a long wait for a Rangers shareholder trying to sell his/her shares.

http://www.incademy.com/courses/How-the-stock-market-works/AIM-and-OFEX/5/1014/10002