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Dave King responds to Takeover Panel 'cold shoulder' as he reveals reason he won’t appeal

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Rangers chairman Dave King has released a lengthy statement after the Takeover Panel ruled he should be "cold shouldered".

I refer to the ruling that has been released by The Takeover Panel Hearings Committee in respect of the request by the Executive of the Takeover Panel to have me sanctioned for the delay in making a Rule 9 Offer to shareholders of RIFC.

Now the Takeover Panel has released its judgment in which King has effectively been blackballed from working with other businesses who are regulated by the Financial Conduct Authority.

The Takeover Panel has raised no concerns about RIFC’s compliance with the Code in the more than four and a half years since regime change.

For that reason alone I decided – even though I consider I have strong grounds for appeal – not to appeal this ruling.

The Takeover Panel’s Hearings Committee Ruling reflects my admitted breach of the strict terms of its City Code on Takeovers and Mergers (the Code.)

Rangers supporters already know that my problems with the Takeover Panel arose directly as a result of the steps I took to protect and safeguard Rangers Football Club from the forces that were bent on destroying it at that time.
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