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Beijing Liangzhu ask for extension to pay for BCFC stake
Birmingham International Holdings have announced to the HKSE today that Beijing Lianghu Media International have asked for and have been granted an ten day extension to pay the HK$45million for a 12% stake in Birmingham City FC.
The announcement confirms that Beijing Liangzhu have been given seven days from the date of the announcement to deposit HK$10million and the remaining HK$35million within ten days.
It has to be said that it is slightly concerning that Beijing Liangzhu have already asked for an extension to come up with the figures required and does give the impression that they might not be as flush with cash as was hoped.
Tags: BCFC, Bejing Liangzhu International Media, BIH, HKSE, The Takeover
82 Responses to “Beijing Liangzhu ask for extension to pay for BCFC stake”
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Here we go again. At least Friday May bring some clarity to proceedings.
Hmmmm, looks like the ‘new boys’ will fit in nicely with BIHL.
We have to get a more reliable bunch of owners than this lot.
Surprise surprise eh ?
I love it what a circus
Unbelievable! This just gets worse by the minute!
No, it’s totally believable and probably the norm.
Oh Lord!
This is deja vu all over again!!!
Nothing should surprise us, as just like our current owners these lot are also overpaying for their shares by about HK$8 million on top of an over inflated share price.
Not a well known company at all in China, and they had very little money to start off with, probably why they cannot seem to afford an email address !!!
sounds like they are waiting for the outcome of the trial intresting
There’s a significant forfeiture if they pull out
If they can’t find the money to purchase the shares I’m sure they won’t be bothered with any forfeiture clauses. To me Hong Kong, China or any of the far Eastern countries make business deals then worry about finding the funds, BIHL should ask for monies up front before disclosing any deals. But then we would be back to the “No information” forthcoming and kept in the dark situation we have from the boardroom of St Ans.
KRO+DNM
wheres mark?
The announcement refers to the Purchaser rather than Beijing Liangzhu .
OP – have BIHL ever actually said in an announcement that the Purchaser is Beijing Liangzhu ?
Yes. In the the definitions in the original announcement
Op there’s a rumour this company is belonging to associates of Carson ? Is this true in your opinion ?
I wouldn’t like to give an opinion unless it was backed up with fact. I suspect people who are spreading this rumour are basing it on a hunch rather than a fact, bearing in mind how difficult it is to get information on that company.
only at blues lol what a shambles if it were not so sad i would laugh
This is excellent news……I hope they offer PP a job…..more medication please nurse…..
Typical. All the money floating around the Chinese business world… and Yeung and Pannu keep finding all the businesses that don’t have any. If this was a Whitehall farce, it couldn’t have been written any better!
not more tyre kickers
Negatives:
1) Beijing Liangzhu are a nothing company hoping to use the Blues to raise their own profile and status.
2) They will not go beyond their initial stake as they do not have the means or resources.
3) If and when they appoint their two directors on the Board at BCFC, they take partial decisions based on their own interests in China as opposed to what goes on here in Birmingham (with regards to sponsorship/advertising/trips to PR China etc.)
Positives
1) They (Beijing Liangzhu) are simply getting their funds from elsewhere and there has been a short delay due to a chain sale of some sort which will proceed once funds clear.
2) This company have not decided to pull-out and if they invest most of their time and efforts into BCFC, as well as capital, they will do their utmost to make a success of being part of BCFC.
3) They are the only ones to date, who have come forward to agree to purchase a stake and have plans in place that may well work out in China, where PP and CY failed.
All in all, a delay is not ideal but things will probably become clearer over the course of the next few days.
Its easy for BIH to get out of this financial mess and start their oil & gas exploration. Just sell its subsiduary BCFC which is now virtually debt free. Surely Carson will do this if gets convicted, after all whats the point of holding on if he’s inside.
he is stubborn and wants all of his money back and lets face it if he is in prison doesn’t need the money
Oh lord, and so it all begins again…………….
Maybe Beiging liangzhu are a phanthom company set up be god knows who.
This is excellent news……I hope they offer PP a job…..more medication please nurse…..
Getting involved with a company thats misses deadlines. Nothing new there, why break the trend. Can anyone he gets involved in walk in a straight line, jokers the lot of em!
I cant really work out what’s going on
i hope next week we will have a more clear idea as to
if the club are going to move forward or not.
as anyone contacted mystic meg she will have as much of a clue
as to what’s happening lol
Seems like the same old story why can’t they just let our club come home I know there’s people here who want to buy it there has to be were Birmingham City Football Club. These Chinese are not interested in us they just want a way of getting into the British market do they can get laundering allegedly Delay-No-More KRO
End game…ducks and drakes. New share registrar in Cayman Isls; issue of 3 cent shares worth 26 cents on open market……… delay in 12% BCFC holding by an invisible Beijing company. It doesn’t take Einstein to work out that someone is shuffling the deckchairs on the Titanic before an almighty big shock. Duck, dodge, weave – it won’t matter in the end BIHL.
Hi Steve,
I have tried to search details about this company. Only a few information was found on government website except some news you have already known.
This is not a famous company in China. They do not even have a website. It is owned by a Chinese person named by Shanghui, which was founded in 2005, with registered capital only RMB 1,500,000. The address of this company is Room B2213, 2/F, Building 3, Area 3, No. 8, North Yuhui Road, Chaoyang District, Beijing.
My boss is mean. If I can get a contract of ten billion for him. Maybe he will think about buying some stocks of the club. LOL.
Best Regards
Daniel Sun Yuhang
Dan – quick question (somewhat unrelated I’m afraid) – I recall from the club’s accounts that it essentially had two key debts; £14m to Carson Yeung and £7.8m to BIHL. We know that the debt to Carson Yeung has been novated to BIHL and, since that was done, Peter Pannu has been trumpeting the fact that the club is debt-free, save £250k or so owed to HSBC. Is it the case therefore that over the last year or so, the club has been forced to pay back the £7.8m to BIHL or was it written off? Clearly BIHL were perfectly entitled to seek repayment (no doubt the loan was poorly documented but with high interest) but having to pay it back over such a short time period would have added to the club’s considerable financial problems.
There is the possibility Pannu may have been mistaken
A registered capital of 1,500,000 RMB is equivalent to £147,000 .
A surprising deal for such a lowly capitalised company !
these comic,s cant even raise the intial £77k let alone the rest of the money,Groundhog Day looms again, only this time instead of the London stock Exchange its the Hong Kong variety, mates rates to raise the cash ?
What a bunch of cowboys this lot is,everything they do is unprofessional in every aspect…feckin clowns the lot of them…just send the tosser yeung down and chuck the keys away, everything is linked to that feckin idiot…
It’s becoming increasingly difficult to disagree with you!
its annoying that fridays verdict aint gonna make an ounce of difference to BCFC because
as ive said hes already got the family and close realatives in position for the worse senario
to carry on ruining the club while hes behind bars, its fingers crossed that they see common
sense and just sell up and ship out but then…hang on ive just seen a pig flying…..wishfull
thinking by the looks off it!!!! KRO.
by the way all you other bluenoses,i give in I have spelt spionkop .and stand corrected,,it must be my age,i have been going down to the tilton road end since 1945,but I still think my old dad and all the other brummie lads,would turn over in their graves,to see the mess we are in, in those days they fought the bosses for a better living,but you always got value for your few bob down st Andrews.these eastern gentle people should try to live up to what they belive,that they are honourable people that you can trust.come on mr carson please do the honourable thing and give us back our pride and SELL UP.
They all seem to be ‘potless’ chancers.
Does Yeung / Pannu anyone who is respectable, with ANY gravitas, hopefully with more ackers than the the local geezer, whos just done his ‘family jewels’ at Ladbrokes.
I would not be in the least surprised if Beijing Liangzhu were as thick as with BIHL. They must be related as they seem to run their business affairs in a similar manner. Don’t be surprised when there are more twists and turn to this. Look forward to the next set of accounts being late again as well.
im too completly sick of all this by half to make a constructive comment , sorry
Great to see everyone getting excited, probably better if you have cold bath or shower maybe….everything gonna pan out. Few more days and we can dream forever more. Gosh don’t Fridays come around quick. They are just checking if they can bridge a loan to bridge another one obviously this takes time. I am really positive this will work out in the end. Kro
Mark – I dont like saying this but put down the bottle mate.
Almajir. We haven’t long to wait now for the trial Judgement, if it is issued on Friday 28th February, but what in your view would be most likely to transpire if the verdict should favour Carson Yeung ? Or, perhaps you would prefer to wait before making hyptheses. Someone, somehow is going to have to stump up a lot of money if Blues are to get out of the wood, that’s for sure.
Daniel hope you are enjoying yourself in hk as much as we are here mate…………looking forward to your feedback on Friday….. What time carson expected in on Friday???. If he get off I will be celebrating then Daniel requested the Friday off from work………
Somebody actually employs you?
Shirley, Mark is PR Man for carson, dont pay much but all the citalopran he needs lol
Carson Yeung’s very own groupie. At least you give us all a laugh mark. :))
Life to short mate, some on here need to live alittle lol
Staffsblue dont worry when this finally over it be back to clark barracking………:-)
I don’t take a blind bit of notice mate. :)
It best not to be baffled by science even the most baffling situations have a habit of working out.
Time for you to put us in the picture and tell us the plan Mr Pannu.
I thought the pantomime season was over but it should not surprise anyone
Calm down, calm down. They are probably just waiting to mortgage a house to raise the cash.
Surely there’s an obvious joke here about “Chinese Walls” – I’m just not smart enough to make it! But you get the point, same old same old, faceless people on the other side of the world with no real interest in the long term prosects of the club, hoping to make a quick buck without investing anything tangible….
No doubt they will all pass the Fottball Leagues “Fit and Proper” test!
Even the Football League could pass that.
Technically Kim Jong-Eun would pass the fit & proper persons test. Never bankrupted, never in charge of an insolvent company, never found guilty of fraud, doesn’t own another club…
Well the new investors are hardly “same old same old” are they? And they might be faceless to us, but they are real people.
I’m not quite sure who makes a decent owner of a club any more. Look at Blackpool — Karl Oyston is hardly faceless but he’s British and nevertheless pocketing all the money the club make, much to fans’ annoyance. Look at Hull, Cardiff, Portsmouth, Man U, Liverpool — all owners that one wouldn’t necessarily want or trust.
You forgot Newcastle and Rangers.
we got poor leeds
Things are never so bad they can’t get worse!
All statements to the effect of them providing a loan for the summer team rebuilding are from now on inoperative.
bihl will have their money by Friday “Wonga,wonga have announced !!!
i hope not the interest extortionist hope they can pay it off quickly lol
Very discerning indeed, BIHL have enough problems with finances as it is without subsidiaries not producing the money too.
Sooner Blues are rid the better.
KRO+DNM
I am amazed that we are continually told that China is a wealthy country. With what I have learnt from all the people connected with BIH, it can only be financial people from the western world ,that have created the wealth for them.
It’s almost inevitable this is not going to end well for us. Carson has been completely dodgy from the start when he couldn’t buy the club right out as he didn’t have the money. They are just a bunch of amateurish chancers.
Panic over, the money has been collected from Carson’s Favourite Launderette!
Please, for all us bluenoses sake, lets all thank CY and PP for taking a premier club , and selling every player worth a bean and taking us vitually out of business an 3 years !
The quicker we are out of business completely then the quicker we will start again without these two wasters and all the other potless chinese companys !!
Roll on bankrupcy and good riddence to bad rubbish !!
Remember , by giving a single penny to this lot will only prolong the enevitable !! WAKE UP BLUES FANS !!!
Best post of the day Mike!
There is a practice in Chinese business called Guanxi – a kind of ‘you scratch my back; I’ll scratch yours’ networking of both family and non-family members. It goes above and beyond the law. Hong Kong is a little different but Guanxi exists there too. It does mean that corruption is facilitated by Guanxi networks. Some say if you stick to ethical business and the law in China, you’ll never make a profit.
China is endemically ridden with corruption and the Communist Party still rules the roost and has a finger in every pie. Whatever is happening in the background with ownership of BCFC and BIHL; you can bet Guanxi is at work and we will never change that so long as we have Chinese owners.
Just sayin’
I’ve spoken about Guanxi – “relationships” – before on here Aussie.
Hi Dan, sorry mate; senior moment! (and I’m only 47) <<fibber!
Big day tomorrow; look forward to your coverage. Shares tanked a bit today eh? Back down to 20 cents. Result of the dilution by converting past bonds into 333 million new shares, purchased for 3 cents and quickly sold for 20+cents???
Big day is Friday mate…
Dan, when will we know in this country about the verdict, i know its friday but what time? KRO.
The hearing begins at 9:30am HK time (1:30am GMT) – as soon as practically possible, I will publish something.
I think I should make plain that whilst there will be a verdict I wouldn’t expect a sentence if he is found guilty for at least a week.
cheers Dan, its just that its my day off and want to be about and awake for the verdict on
friday morning and break the news to my bluenose wife and son….sound! KRO.
Could be this time next year St Andrews will be the Europe’s biggest Wing Wah (or Wing Yip) and we will all be supporting Solihull, Walsall or WBA.
:-(