article_snippet.sent: Discussions between incoming directors and a potential Nomad replacement were already underway at that point.
article_snippet.sent: The Ibrox outfit have not disclosed the name of the Nomad with whom The Ibrox outfit held talks but are adamant Ibrox was happy to approve chairman-in-waiting King and all current directors as ‘fit and proper’.
article_snippet.sent: It is unfortunate We intended Nomad, who had confirmed to We that they cleared all of the individuals concerned as fit and proper, could not proceed after having conducted due diligence on the company
article_snippet.sent: King had stated the day before the EGM that King intended to appoint the Nomad King
article_snippet.sent: Dave said in several interviews that Dave had a Nomad and felt comfortable that a Nomad would still be listed.
article_snippet.sent: On the subject of potential legal action, Easdale said Easdale didn’t think a Nomad would ‘be taking Rangers to task’ but could look ‘more on a personal basis, with the individuals who misled the shareholders in thinking shares would still be on AIM’.
article_snippet.sent: We are entirely satisfied that the new board has done everything the new board could to maintain the AIM listing and We are happy that the new board did not in any way mislead shareholders by stating that the new board had a Nomad willing to work with the new board.
article_snippet.sent: It was made clear by the new board that any Nomad’s involvement would be subject to due diligence on the company itself.
article_snippet.sent: In fact, We are aware that more than one Nomad was willing to clear the current and prospective directors as fit and proper.