Mike Ashley fails to stop Rangers challenging voting rights

Mike Ashley holds interests in Newcastle and Rangers

Mike Ashley has lost a court bid to prevent Rangers from trying to block him from voting at general meetings.

The Rangers International Football Club board attempted last year to remove the voting rights of shareholders with an influence in another club.

Ashley, who owns Newcastle United, was granted a court order to stop that vote taking place in November 2015.

At the Court of Session, Ashley's lawyers failed to have the order extended to cover future meetings.

Lord Tyre said it would not be legally correct to allow the request to be granted over other shareholder meetings. The judge said that the law meant last year's ruling only applied to that particular AGM.

He had earlier heard that the club were legally obliged to notify Ashley's company, MASH Holdings, of any resolutions which concerned the company's influence on the club.

He ruled that if MASH, who control a little less than 9% of RIFC, wanted to stop such resolutions being put before shareholders, the company would have to instigate fresh legal proceedings.

And the company would only be able to do that if they received notification from Rangers that shareholders were due to consider the issue at a shareholders meeting. Lord Tyre added: "I'm not going to allow an adjustment."

Rangers and Ashley were fined by the Scottish Football Association last year for breaching "dual ownership" rules. The SFA does not allow any individual to hold positions of influence in two clubs, but had agreed to Ashley holding a limited stake in RIFC if he did not seek to influence boardroom decisions at Ibrox.

Ashley is currently seeking judicial reviews into the SFA's fine for breaching the dual ownership rules and the governing body's decision to grant Dave King permission to become the Rangers chairman under their fit and proper person guidelines.