Paul Murray will serve as interim Rangers chairman while Dave King seeks to satisfy the stock market and SFA he is a fit and proper person . King will arrive in Glasgow Thursday for Friday ’ s general meeting , predicting a ‘ landslide ’ victory for his new regime over the outgoing old board . In a statement on Wednesday , however , the Castlemilk-born businessman revealed plans to install key ally Murray as chairman while he spends time convincing regulatory authorities his 41 tax convictions in South Africa should be no barrier to a Rangers boardroom return . King also announced he will not stand to become a director until he has ticked all necessary boxes . Paul Murray ( second from the left ) will serve as interim Rangers chairman while Dave King waits approval . King ( centre ) needs to prove to the stock market and the SFA that he is a 'fit and proper person ' Shares in Rangers were suspended on Wednesday after the club ’ s nominated stock market advisors WH Ireland resigned . King now has 30 days to undergo the due diligence required to appoint a replacement Nomad and restore the club ’ s AIM listing . ‘ 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 , ’ said King . ‘ 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. ’ David Somers ( left ) resigned from Rangers on Monday and fans want Derek Llambias ( right ) to go too . Supporters want fiace director Barry Leach ( second from the right ) to resign as well . Adopting a conciliatory tone before seeking to convince the SFA ’ s professional game board of his fit and proper status , King added : ‘ The club must also take this opportunity to re-build relationships with the football community in Scotland . This will be to the benefit of the club and Scottish football as a whole. ’ There was a less conciliatory tone towards WH Ireland after the NOMAD resigned on Wednesday . Without a nominated advisor , Rangers shares can not trade on the AIM Stock Market and so were duly suspended . The move will do nothing to prevent the staging of Friday 's General Meeting , where King is now certain to oust Mike Ashley ’ s placemen Derek Llambias and Barry Leach from the Ibrox board before installing Murray and John Gilligan in their place . Rounding on WH Ireland and their representative Paul Shackleton , King said : ‘ It is blatantly dishonest to suggest that my imminent appointment to the board was of concern to them . Dave King has won his battle for control of Rangers and also wants to rid the club of Llambias and Leach . King has all but completed his takeover of Rangers after a two-year battle for control of the club . ‘ Fortunately , the general meeting is not affected by the suspension . The new board will proceed to ensure that the listing is resumed as soon as possible . ‘ I ask that all who attend the general meeting on Friday do so with the calmness and the dignity that is befitting of this great club. ’ Finance expert Neil Patey believes the suspension of Rangers shares is only an issue if King fails to name a new NOMAD within 30 days . In Wednesday ’ s statement , the Johannesburg chairman of Micromega Holdings repeated his claim that he already has one lined up . And Patey said : ‘ Nothing is going to happen now until the new board is sorted out , whoever that is . ‘ The new board will then have to satisfy a Nomad to take on the Rangers appointment . ‘ You would imagine , given Dave King ’ s stated intention to get rid of the existing Nomad , that he will have done his homework and will have another one lined up . ‘ From his perspective , he will hopefully have someone ready to step in and take up that role . ‘ If he has not lined up someone he has a month to sort it out . ‘ So in principle the suspension of shares is not a huge issue unless he has not lined someone up and all the Nomads turn around and say : “ Sorry , Mr King has 41 convictions in South Africa ” . ‘ It could get to the point where , if he doesn ’ t step away from the board , the shares would be permanently suspended but I think that would be pretty unlikely . ’
Paul Murray will serve as a placeholder chairman at Rangers . Dave King has to prove to the SFA he 's a fit and proper person . The club will hold a general meeting on Friday . The remaining board members will ( likely ) be ousted at the meeting .