By Marcus Leach
Rangers Football Club have seen the trading of their shares on the Plus stock exchange suspended after the club failed to file accounts on schedule.
According to a statement from the club they had expected to file accounts at the end of this month and that the delay was down to an ongoing dispute over tax.
It added that it was considering giving up trading on the Plus exchange.
"Given the structure of the shareholding in the Club, there is very little, if any, tangible benefit for the Club to be a listed company," Chairman Craig Whyte, who owns a controlling stake of 85% of shares, said.
"The fact that the club has a majority shareholder controlling more than 80% means there is very little trading in shares. In reality, a public listing means more bureaucracy. Rangers does not need to remain a listed company in order for people to buy and sell their individual shares and since becoming chairman I have always questioned what is really being achieved with a public listing.
"Whether or not we are a listed company, accounts will still be published and there will still be a shareholders' AGM. All shareholders would be able to hold the directors to account."
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