10 Jan 2012

Shares of Scottish football champions Rangers suspended

8:06 am on 10 January 2012

The shares of Scottish football champions Rangers have been suspended from trading on the stock exchange after submitting unaudited accounts

Rangers are also considering delisting their shares in May.

The club released their annual financial figures at the end of November but did not get them signed off by an independent auditor as required by exchange rules because of financial uncertainty caused by their ongoing case with Britain's tax authority, Her Majesty's Revenue and Customs (HMRC).

The authroity say Rangers owe around 96 million dollars in unpaid taxes.

Club owner Craig Whyte has refused to rule out the possibility of administration if Rangers lose their dispute.