Monday 2 March 2015 16:36, UK
Rangers have confirmed that chairman David Somers has resigned from the club's board.
Somers’ departure comes ahead of Friday’s EGM, where shareholders now look certain to vote in favour of Dave King’s resolution to have the rest of the current board removed.
King called the EGM on March 6 in a bid to oust four directors, one of whom, James Easdale, quit last Wednesday.
Somers' resignation - he has been chairman since October - leaves only chief executive Derek Llambias and finance director Barry Leach remaining in their positions ahead of the EGM.
He has come in for considerable criticism from supporters recently, and alluded to that in a statement issued after his resignation was confirmed to the Stock Exchange.
Somers said "I have resigned as chairman of Rangers International Football Club PLC. I have worked in the City of London, the world's greatest financial centre for decades and enjoyed considerable success.
"When I was approached about the chairmanship of Rangers, friends warned me that the world of football has different rules and codes of behaviour. I now know that is a gross understatement.
"I am a non-confrontational man and have always tried to bring harmony to boardrooms and with stakeholders.
"At the risk of antagonising my army of critics I would point out that Rangers managed to pay its bills and avoid going under during my tenure.
I am a non-confrontational man and have always tried to bring harmony to boardrooms and with stakeholders.
'Personal attacks'
"These critics might not agree with how we achieved this. I look forward to alternative solutions from whoever is running the club in the future.
"Despite the personal attacks on me from various sources I genuinely wish the club the very best in the future and I am confident that with such a passionate and vociferous fan base they will be restored to their former glories."
Sky Sports understands King will now have his resolutions passed at the EGM, handing him, and his associates John Gilligan and Paul Murray, control of the Rangers boardroom.
However, his appointment is far from straightforward as his history with oldco Rangers, which was consigned to liquidation in June 2012, and a number of run-ins with the tax authorities in South Africa, could prevent him passing the SFA's fit and proper persons test.
King was on the board of the oldco when it was wound up but the SFA's handbook states 'any individual who has been a director of a club... within the five-year period proceeding such club having undergone and insolvency event will not pass the association’s fit and proper persons test'.
He also has tax convictions from his time in South Africa, having been found guilty of 41 offences, and again the governing body in Scotland states any individual who 'has been... convicted within the last 10 years of corruption or fraud will not pass its fit and proper persons test'.
And King's new board must deal with major shareholder Mike Ashley whose Sports Direct company has lent Rangers £13m in working capital over the last four months.
Ashley has kept his plans close to his chest during the battle for control of the financially-troubled club, but does hold security over a number of its assets including the training ground, Murray Park.
