Rangers shares suspended on stock exchange

Shares in Rangers have been suspended from the stock exchange after the club failed to file their audited accounts on time.

The Glasgow-based Scottish Premier League club were halted from trading on Monday at noon by ‘Plus’ stock exchange, where their shares are traded.

Plus confirmed the suspension was because of Rangers failure to file their audited accounts by Monday’s deadline.

“As a result of the delay in publishing its audited accounts to June 30, 2011, the board announce that the company’s shares have been suspended from trading on Plus pursuant to Rule 51,” read a statement from the Rangers FC PLC board.

“The delay has been caused as a result of finalising the audit, which the board believe will be complete on or around January 31, 2012. The delay in finalising the audit is principally related to the ongoing HMRC tax tribunal.”

“The board of the Rangers Football Club PLC is currently considering the merit of maintaining its listing on the Plus market after May 6, 2012, being the date 12 months following the acquisition of the 85.3 percent holding of the company by The Rangers FC Group Limited.”

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