Often Partisan

BIH Halt Trading in Shares

Birmingham International Holdings this morning requested a halt in trading in it’s shares pending the release of a clarification announcement by the company.

The announcement, made at 12:25pm local time came after much slower trading in BIH shares this morning, with only 14 million shares changing hands.

Until the clarification announcement has been made we can only speculate as to the reason for the suspension. It could be potentially to do with the bid made for the club by Jeremy Wray – but there is a likelihood that Peter Pannu’s comments on this website have also come under scrutiny and that the Stock Exchange could want an explanation as to why they were made – especially as they bring into question the solvency of the holding company’s only asset.

Suspending trading in shares is not something BIH will have entered into lightly. From speaking to the co-author of my book, Will Giles, it could be a while before a further announcement is made with the possibility of the HKSE asking questions and drafts having to be changed to accomodate their demands. The longer a suspension goes on, the more questions get asked – and of course, as we know from the previous long suspension of trading that BIH was under, the harder it becomes for the company to raise money – which it sorely needs.

Will, who as a solicitor dealing with commercial law has much experience in this field, also advises that in similar cases he has dealt with executive directors were forced to sign a declaration which made them all responsible for the content of further connected announcements – making each of them acutely aware of their fiduciary responsibilities and ensuring that there is no wriggling out of tight questions.

The timing is difficult for BIH too – with the AGM in 19 days it could lead to some awkward questions for the company from shareholders and I have no doubt that BIH will want this all tied up long before the AGM.

It’ll be interesting to see where this goes; a quick announcement and BIH will be happy. However, if nothing is forthcoming by the close of play tomorrow it could be the start of a another unhappy period for Birmingham International Holdings.

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23 Responses to “BIH Halt Trading in Shares”

  • @85Coy says:

    Peter Pannu to resign from the board.

  • Blue tsunami says:

    According to the Msil it wax PP who made the statement. Curious?

  • Blue tsunami says:

    Accordingly to the Birmingham Mail it was PP who made the statement. After the furore of the last few days that, if true, shows an arrogant disregard for the ‘good guys’ on the Board and all supporters everywhere. Let’s hope that GR does a better job at keeping the playing staff’s eye on the football than happened previously. Additionally, a win versus Blackpool will be like a true cleansing of the recent footballing past.

  • Luke says:

    “Until the clarification announcement has been made we can only speculate as to the reason for the suspension. It could be potentially to do with the bid made for the club by Jeremy Wray – but there is a likelihood that Peter Pannu’s comments on this website have also come under scrutiny and that the Stock Exchange could want an explanation as to why they were made – especially as they bring into question the solvency of the holding company’s only asset.”

    Well, if it’s the first reason, that’s good news because it could (potentially) mean a light at the end of the tunnel.

    If it’s the second reason, BIH will be feeling very uncomfortable. I’m sorry it’s come to this, but I see that as good news too. Anything that makes holding on to the club more difficult and more costly can only further tip the balance in favour of a sale, and makes PP’s gleeful comment that we’ll be, “stuck with BIH forever,” less likely to be true.

    Piss or get off the pot.

  • Mineheadblue says:

    Thanks Daniel. I have a better feeling about this one and will watch with some hope that something good may be happening.

  • Art says:

    Hopefully PP will tender his resignation-his position with BIh now must be completely untenable!,

    • Luke says:

      He’ll probably sell them his resignation.

      It’s like he looked at how Luis Suarez got what he wanted and thought, “Biting an Italian defender isn’t going to work here, but I’ve got an idea of something that might…”

  • Neil says:

    We can but wait let’s hope it’s good news

    Off the subject were is the local pub used by
    Our supports before the game at Blackpool
    Game. thanks for any help .

  • mark says:

    i can only see this as a win win situation for us either way it puts more pressure on them to sell keep up the good work

  • Mrs Crosby says:

    How damaging could this off field chaos be for the team and Gary Rowett? Typical just when things were really looking hopeful for the long suffering fans. Let’s hope for something positive to come out of the last few days embarrassing situation.

    • StaffsBlue says:

      I think that it would only affect the playing staff on a superficial level. Players are pretty mercenary… as long as it doesn’t affect their banks accounts, why would they care?

  • Alex says:

    Hmm. I wonder if someone at the HKSE has asked BIH why they made no announcement about 2 formal offers from Wray, whilst letting the share price rise for no apparent reason? Even if Wray had not submitted them the fact that he says he has should have caused an announcement, surely?

    • erpa says:

      I agree with this, HKSE requested BIHL to make an announcement to confirm that they knew of no reason why there was such high activity in recent days, Why didn`t they inform them that an offer had been made as a possible cause, I would not be surprised to see them get suspended yet again as I see no way out of this mess other than to sell now,

  • sam says:

    This seems like good news to me, Pannu seems to have lit his own fuse and his posts can only be seen as self destructive. The lack of news and action has been painful at Blues for some time so it looks like things are coming to ahead! Well fingers crossed anyway

  • Paul says:

    As usual this sordid takeover nonsense distracts from the the superb job that GR is doing. I have got no doubt that whatever anyone says these sort of headlines do affect the team. Lets hope the GR bandwagon continues to roll at Blackpool and all this takeover snore bore takes a backseat.
    KRO

  • Swedish Bluenose says:

    Hope that Peter Pannu will be blocked out from any more involvement in the club. He seems so desperate in his emails to you, Daniel.
    Hope also that the other PP, Panos Pavlakis, can continue to act like he has done so far. He seems to be a much more well-mannered and easy-going guy than the other PP and now he has just let us get Ziggy back again which could be a great contribution to the club’s football hopes of climbing higher and higher in the Championship. I am sure there are many centre backs in our league that still will feel quite anxious when the tower Ziggy comes around ;-) KRO

  • Smile_dav says:

    F U Pannu.

    I am a Birmingham fan living in Hong Kong. I must say, it’s hard trying to keep up with the current affairs of our club from such a long distance, let alone run it.
    Thank you OP for all your hardwork and giving us more insight into the club than the otherwise tight liped directors.

    We’ve had such a torrid time since winning the league cup, and Pannu gets paid ridiculous amounts even for a HK executive. It’s crazy how he can turn around and insult the people who were paying his wages, ungrateful to say the least. If you don’t like us fans, F right off, jog on, and carry your greed with you. Stay away from BCFC.

    Delaney’s is a decent pub, if he wasn’t so stuck up his own arse, maybe he’ll realise BCFC is many people’s life.
    I hope the league and the HKEX can now look into the events and take action.
    Us fans have waited for long enough!

    All comments in this post are solely my own opinion and OP should not be held accountable for any offenses caused.

    Again F U Pannu.

  • bluenose08 says:

    As it was pannu that made the statement he must still be sitting at the top table with the board of directors. Now we have learned of Jeremy wrays offer and everybody knows about it bihl should make a statement either conferming or denying the offer.
    Good luck to gary rowett and the players at blackpool a win would give everyone a boost. k.r.o. d.n.m.

  • andy says:

    Hey Dan if Pannu wants to speak with you in Hong Kong why not arrange for yourself to go on the Tom Ross football phone in with Pannu on the line from Hong Kong. Tom would get very good ratings that night and I wonder whether Pannu has the bottle to do that?

    • steven says:

      We know he doesn’t have the bottle to do it because it means fans can talk to him! PP has the cajones to slag off dan from a distance but doesn’t have the balls himself to come to Birmingham and face the fans all talk as usual Mr. Pannu.

      I really hope he f*cks off for good, him and BIHL!!

      (All comments are my own and not attributed to OP, if any offence is caused to Mr. Pannu tough shit!)


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