Rangers forced to delist from AIM for having no new nominated advisorNew club board blames ‘failings in corporate governance’ of previous regimes

Rangers have been forced to delist from the stock exchange after failing to secure a new nominated advisor (Nomad).

The previous Nomad, WH Ireland, quit just before the 6 March general meeting, which saw a new board sweep to power at Ibrox. Trading in shares was suspended because of the resignation and the club’s inability to find a replacement within the 28-day deadline.

Rangers say that is because of the “failings in corporate governance” of previous regimes, which meant they were subject to more complaints to the AIM stock exchange authorities than any other company over the past 12 months.

They are in negotiations to move share-trading facilities to a different platform and say shareholders can still trade privately. In a statement, the club said: “There is no reason why delisting should adversely impact on the value of the company’s shares or on the company’s financial condition or prospects.”