Rangers have announced operating losses of £14.4 million in their annual accounts.

Rangers International Football Club plc announced revenue of £19.1m and staff costs of £17.9m, while the accounts, for a 13-month period, also show that former chief executive Charles Green was paid a total of £933,000.

The club, which raised £22m through a share issue in December, revealed they had £11.2m cash in the bank on June 30, £4.5m of which came from season-ticket sales.

Rangers also announced they would hold their annual general meeting on October 24.

Rangers also revealed they had received a request for a notice with the resolution that Malcolm Murray, Paul Murray, Scott Murdoch and Alex Wilson be appointed directors at the AGM. However the board claim the resolution is “unlikely to be properly constituted under s338 of the Companies Act 2006.”

Green stepped down in April following allegations over links with former oldco Rangers owner Craig Whyte, which he denied and were the subject of an internal investigation by the club, which was not published.

The club today announced that Green, whose proposed return to the club as consultant in August was vetoed following an outcry, no longer had any notifiable interest in the company following the sale of shares.

Green received wages of £333,000, a severance payment of almost £220,000 and a bonus of £360,000.

Other highly paid employees included manager Ally McCoist, who received £825,000. McCoist revealed on Friday that he had agreed a pay cut.