Shareholders are due to attend Rangers’ extraordinary general meeting at Ibrox on Friday.

Newcastle United owner and Rangers shareholder Mike Ashley

asked for the EGM to force the club to pay back a £5m loan

to his Sports Direct firm.

And, on Thursday,

Sports Direct won a court injunction

against Rangers disclosing confidential information about its retail deal with the club.

Ibrox chairman Dave King is not attending the EGM.

The Rangers board

want shareholders to reject Ashley’s resolutions.

Ashley has also called for explanations over the decisions that led to

the club being delisted

from the Alternative Investment Market.

Mike Ashley

Newcastle owner Ashley owns 8.29% of Rangers

After setting a date for the EGM,

Rangers added resolutions of their own

to be voted on, including providing shareholders with a breakdown of the income received by Rangers Retail Ltd and the payments it has made to the club.

However, Sports Direct, which owns 75%t of Rangers Retail under the terms of the £5m loan, went to court to prevent disclosure.

Prior to that,

Ashley had issued a statement

insisting repayment of the loan was the best way for Rangers to boost their retail income. Rangers’ shareholding in Rangers Retail would be restored to 51% if the loan was repaid.

The board also want shareholders to consider removing the voting rights of shareholders who own stakes in other clubs and a renegotiation of the club’s arrangement with Sports Direct.

Rangers director Paul Murray

Rangers director Paul Murray arriving at Ibrox ahead of the EGM

In March’s EGM,

Dave King, Paul Murray and John Gilligan were voted on to the Rangers board,

replacing Derek Llambias and Barry Leach, associates of Ashley and Sports Direct.

Douglas Park was subsequently added to the board and South Africa-based businessman King became chairman after

satisfying the Scottish FA’s fit and proper person guidelines.