Ashley has 8.92% of the Ibrox club’s shares but -- in the "latest twist in the bitter conflict" between the Rangers board and the Sports Direct entrepreneur -- Rangers "want to pass a resolution removing the voting rights of any shareholder who is involved in running another club."
Ashley owns Newcastle United. Special resolution 15.3 in the AGM document issued Wednesday proposes that no member can vote at any shareholders’ meeting if he is involved "in any capacity whatsoever" in another club which is governed by any national association recognized by FIFA.
The resolution will "need the support" of 75% of shareholders, which emerged in the AGM details Wednesday as the Rangers posted annual accounts showing a £7.5M loss in the year ending in June.