Paul Murray will serve as interim Rangers chairman while Dave King seeks to satisfy the stock market and SFA he is a fit and proper person. King will arrive in Glasgow Thursday for Friday’s general meeting, predicting a ‘landslide’ victory for his new regime over the outgoing old board. In a statement on Wednesday, however, the Castlemilk-born businessman revealed plans to install key ally Murray as chairman while he spends time convincing regulatory authorities his 41 tax convictions in South Africa should be no barrier to a Rangers boardroom return. King also announced he will not stand to become a director until he has ticked all necessary boxes. Paul Murray (second from the left) will serve as interim Rangers chairman while Dave King waits approval . King (centre) needs to prove to the stock market and the SFA that he is a 'fit and proper person' Shares in Rangers were suspended on Wednesday after the club’s nominated stock market advisors WH Ireland resigned. King now has 30 days to undergo the due diligence required to appoint a replacement Nomad and restore the club’s AIM listing. ‘An important issue that was repeatedly (and correctly) raised by the previous board is the need for the regulators to be given time to complete the necessary due diligence on myself — given my intended role as Chairman of the company,’ said King. ‘However, engagement with the regulators can only commence at the specific request of the company and that process can only be initiated on conclusion of the general meeting. ‘It is important that I lead by example following my commitment to transparency and accountability. I will therefore delay acceptance of my appointment as director until the regulators have completed due process. Paul Murray has agreed to act as interim Chairman of the company until this process has been concluded. Additional board appointments will be announced in the near future.’ David Somers (left) resigned from Rangers on Monday and fans want Derek Llambias (right) to go too . Supporters want fiace director Barry Leach (second from the right) to resign as well . Adopting a conciliatory tone before seeking to convince the SFA’s professional game board of his fit and proper status, King added: ‘The club must also take this opportunity to re-build relationships with the football community in Scotland. This will be to the benefit of the club and Scottish football as a whole.’ There was a less conciliatory tone towards WH Ireland after the NOMAD resigned on Wednesday. Without a nominated advisor, Rangers shares cannot trade on the AIM Stock Market and so were duly suspended. The move will do nothing to prevent the staging of Friday's General Meeting, where King is now certain to oust Mike Ashley’s placemen Derek Llambias and Barry Leach from the Ibrox board before installing Murray and John Gilligan in their place. Rounding on WH Ireland and their representative Paul Shackleton, King said: ‘It is blatantly dishonest to suggest that my imminent appointment to the board was of concern to them. Dave King has won his battle for control of Rangers and also wants to rid the club of Llambias and Leach . King has all but completed his takeover of Rangers after a two-year battle for control of the club . ‘Fortunately, the general meeting is not affected by the suspension. The new board will proceed to ensure that the listing is resumed as soon as possible. ‘I ask that all who attend the general meeting on Friday do so with the calmness and the dignity that is befitting of this great club.’ Finance expert Neil Patey believes the suspension of Rangers shares is only an issue if King fails to name a new NOMAD within 30 days. In Wednesday’s statement, the Johannesburg chairman of Micromega Holdings repeated his claim that he already has one lined up. And Patey said: ‘Nothing is going to happen now until the new board is sorted out, whoever that is. ‘The new board will then have to satisfy a Nomad to take on the Rangers appointment. ‘You would imagine, given Dave King’s stated intention to get rid of the existing Nomad, that he will have done his homework and will have another one lined up. ‘From his perspective, he will hopefully have someone ready to step in and take up that role. ‘If he has not lined up someone he has a month to sort it out. ‘So in principle the suspension of shares is not a huge issue unless he has not lined someone up and all the Nomads turn around and say: “Sorry, Mr King has 41 convictions in South Africa”. ‘It could get to the point where, if he doesn’t step away from the board, the shares would be permanently suspended but I think that would be pretty unlikely.’
Paul Murray will serve as a placeholder chairman at Rangers . Dave King has to prove to the SFA he's a fit and proper person . The club will hold a general meeting on Friday . The remaining board members will (likely) be ousted at the meeting .