Shares in Rangers Football Club (LON:RFC) have been suspended from London’s AIM market with immediate effect after the troubled club’s broker, WH Ireland, resigned.
The news comes ahead of Friday's extraordinary general meeting, which could see a new board take control of the Scottish Championship club.
A combination of overspending and bad management has led to serious off-field issues for the Ibrox outfit, which has several major shareholders with varying degrees of interest.
Today, the club said: “The company has been informed that its nominated adviser does not believe that it can satisfy the London Stock Exchange in relation to its NOMAD obligations, and therefore the NOMAD has resigned.
“The directors are disappointed that this event has had to take place despite the considerable efforts they have made over the last few weeks and months against the backdrop of the general meeting requisition.”
As per AIM rules, if the company does not appoint a new broker within one month, trading of the shares on AIM will be permanently cancelled.