Rangers President Dave King said there was no end to the battle with the moot panel | Football News

Dave King says the battle with the sign of acceptance will not affect the Rangers [19659006] Rangers President Dave King admits there is "no end in sight" at his courtroom

The head of Ibrox risks being sued for contempt of court after failing to comply with an injunction to make an offer of £ 11 million to buy back the rest of the club's shareholders.

The Takeover Panel (TP) said that the South African-based businessman had broken the rules of the stock market by "acting in concert" with other investors when he was in the business. he had directed a coup d'etat in March 2015 – but he has not yet filed a compliant offer. King said: "At the request of the Review Board, a sum of about 11 million pounds sterling has been reserved in a trust account to finance the offer." 19659008 "After accepting the public offer of the South African company, the TP changed its mind and requested that the funds be placed in an account in the United Kingdom.

" I agreed, but I explained to the TP that I did not have an account in the UK and that I would need some time to open one. exchange control approval to transfer funds from South Africa

King believes that things will improve at the club under Steven Gerrard

"The TP refused the necessary extension of time and brought a contempt proceeding against me for failing to comply with the original decision to make a personal offer.

"This strange decision has now caused further unnecessary delays, with no end in sight. Fortunately, this does not affect the operations of the football club.

King had already said that he needed time to open a bank account in the UK so he could transfer funds from his base to Johannesburg.

refused and a hearing is now scheduled for the Court of Session in Edinburgh on Friday.

King admits that this latest legal battle is costing him personally, but has vowed to stand up to those who, he says, target the Rangers, including Sports Direct. Owner Mike Ashley has taken an injunction to stop the sale of new Hummel kits from Gers.

"The dispute with the TP is another unwanted personal and financial cost for my initial decision to involve me again with the club Steven Gerrard says his team has to do better after his 2-0 win over the FK Shkupi in the first leg of the Europa League qualifying ier