THE dispute between Ken McGeoch, the St Mirren director, and other members of the board looks likely to be resolved by an emergency general meeting.
McGeoch had been given 48 hours to resign his directorship after it was revealed he had allowed Gary Withey, the Rangers club secretary, to study "commercially sensitive documents" last November during an attempted takeover of the club by McGeoch and business partner Paul Davies.
McGeoch issued a statement on Tuesday night in which he said he would be "prepared to walk away from the club" but, in a twist yesterday, it emerged he will only do so once he has sold his 24% shareholding in the club. Herald Sport understands no offer for his shares has yet been received.
The St Mirren board are thought to be keen to avoid an egm but, with McGeoch standing his ground, it now seems like the only way for a resolution to be reached. "Ken isn't intending resigning his directorship," revealed a source close to McGeoch. "But he's willing to consider offers for his shareholding."
McGeoch, a St Mirren director for 14 years, was part of the board installed when Stewart Gilmour became chairman, but was not included when a coterie of directors formed a consortium two and a half years ago with a view to selling their 52% majority shareholding. When McGeoch and Davies weighed up a takeover offer last year they sought legal advice from Collyer Bristow, the London law firm that employed Withey and was used by Craig Whyte in his purchase of Rangers, but the pair have vehemently denied any connection with the Ibrox club beyond "sharing the same legal representative".
McGeoch's proposal, no longer being considered by Gilmour and his group, was one of two offers on the table. The other is from 10,000 Hours, an offer that would lead to the club being owned by supporters in the shape of a co-operative.
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