Rangers suspend directors

Rangers directors Martin Bain and Donald McIntyre have been suspended by the club pending an internal inquiry, an Ibrox source has said.

Chief executive Bain, and McIntyre, who has served as an executive director, secretary and financial director, are the subject of an investigation.

The nature of the investigation has not been confirmed.

A Rangers source said: “Craig Whyte (Rangers’ new owner) has no comment to make on what is an internal matter.”

The decision to suspend Bain and McIntyre came at a meeting of the board last night.

It is understood that McIntyre was present but Bain was informed by conference call although both remain on the board at present.

The intriguing development follows the removal from the board of chairman Alastair Johnston and director Paul Murray last night, with the news being announced to the Stock Exchange this morning.

Johnston had been critical of new owner Whyte during the recent takeover process and Murray had been behind a rival buy-out bid.

The news was confirmed in a statement to the stock exchange this morning, which read: “The board announces that on 23 May 2011 Alastair Johnston and Paul Murray were removed as directors of The Rangers Football Club PLC.

“The Directors of The Rangers Football Club PLC accept responsibility for this announcement.”

Meanwhile, another statement to the stock exchange this morning, read: “The board announces that Cairn Financial Advisers LLP has been appointed PLUS corporate adviser to the company with immediate effect.”