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Felix Magath proxies Rangers shares to fans ahead of EGM

Fulham manager Felix Magath
Image: Felix Magath: Has proxied votes from Rangers shares to fans

Former Fulham boss Felix Magath has proxied his shares in Rangers to supporters ahead of the club's EGM next Friday.

Magath made a shock purchase of 810,000 shares in Rangers last month, but the German coach has now handed control of his stake to the Rangers Supporters Trust (RST).

RST spokesman Chris Graham said "As Felix is a true football man, he has a deep appreciation of the problems faced by the fans and the club in the past few years.

"We sincerely thank him for his backing and hope that this is yet another signal to the current board that their time is coming to an end."

The RST - which owns 1.8m shares - now controls a 5.53% stake through its own stake and proxies donated by other shareholders.

Fellow fans group Rangers First has a vote representing two million shares to cast at the meeting. 

Rangers shareholder Dave King has called the meeting in a bid to remove chairman David Somers, chief executive Derek Llambias and financial officer Barry Leach as directors.

King needs to gain the support of 51% of shareholders to oust the current board and replace them with Paul Murray, John Gilligan and himself.

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