Often Partisan

The Hokey Cokey

Birmingham International Holdings announced yesterday the re-appointment of Panos Pavlakis as an Executive Director along with Li Hanguo and Liu Enxue as Independent Non-Executive Directors, one day after they failed re-election at the company’s AGM.

For anyone following what is happening, it must appear dizzying. One moment we see Panos blown out of the water, voted out by a Pannu-inspired Carson Yeung, and everything looks gloomy. Yet one day later, Panos is back on the board, the status quo returns and the whole AGM seems absolutely pointless. If this was a pantomime, no-one would believe it; yet this whole hokey-cokey is a company listed on the Hong Kong stock exchange, who own a Championship football club.

The big question on everyone’s lips is why? Why has Panos (and the other two) returned so quickly? What on Earth is going on?

I think the most succinct way to put it is that the AGM saw what Pannu and Carson wanted to do with the company; yesterday’s riposte was the actions of the other faction in the boardroom. I can imagine it went down like a lead balloon with Pannu when the board meeting was called to re-appoint Panos et al and I’ll bet he fought it all the way. However, with only three on his side and three on the other, the Chairman’s casting vote made all the difference – and the Chairman, Cheung Shing, is on the side of Panos.

So what we have now is all out civil war in the boardroom with the first real shots being fired. There have been boardroom battles before – if you’ve read the book Will and I wrote (and if not why the hell not?) then you’ll know there have been battles in the boardroom almost continually since Carson’s arrest and the common factor in all of it has been Peter Lakhbir Singh Pannu.

As all this childish bickering goes on, the solitary hope is that the SFC and the HKSE are paying attention. There have already been complaints that have gone into them; they are already investigating and the very public nature of this fight surely cannot have pleased them at all; the longer it continues the more embarrassing it becomes.

More importantly, the longer it continues, the less likely the shares in the company will be unsuspended – and believe me, that hurts BIH (and by extension Carson) more than anything else – much more than a boycott of the ground ever could as this prevents them making money off the rise and fall of the share price.

Tom Ross tweeted yesterday that Panos could still be voted off by EGM and while I think he should be careful exactly what he puts out in the public domain – as there are rumours out there that I won’t publish – he is technically correct. Any shareholder with a certain percentage or above (I think it’s 10% but I would have to check the Articles of Association of BIH) has the right to demand an Extraordinary General Meeting by writing to BIH – and as Carson owns nearly 30% he could certainly do that.

I’m sure that if that was to happen, then Carson wouldn’t make the mistake of leaving his man without a position of total control once the board changes were made to prevent a repeat of this happening. The obvious thing to do would be to put forward resolutions for the EGM to appoint their own people to the board, just to reinforce control – which of course reinforces the shadow director/owner situation Carson appears to be operating – and again, would be something I’m sure the HKSE/SFC would be interested in.

So while the status quo has been restored, guns have been drawn, shots have been fired and the brown stuff is poised above the fan. I’d love to be able to be optimistic about this but the truth is I’m not – I’m more worried now about the club than I’ve ever been and I’m concerned that my opinion I gave at the fans open meeting at the start of December that this month could either be very good or very bad is going to be prophetic in the bad sense. I absolutely, utterly hope I’m wrong.

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62 Responses to “The Hokey Cokey”

  • Mickey07 says:

    If pannu is unhappy then that makes me very happy,keep hitting him in the pocket and keep making his life hell dan…

  • Bluenosesol says:

    Dan, I note that in the BIHL HKSE notes that following the AGM, they stated that the failure to elect certain individuals had left them with insufficient directors to satisfy HKSE reqwuirements and hence they were looking for a new candidate. But more interestingly, they had a vote accepted to “To authorise the board of Directors to fix the remuneration of the Directors”. Any ideas what that is referring to?

    • almajir says:

      Standard stuff – just to allow the remuneration committee to fix the remuneration (ie wages) of the directors. Absolutely nothing unusual.

      • Bluenosesol says:

        Bu**er and I thjought they were going to “fix” Pannu’s exorbitant pay and allowances :-(

  • andy says:

    It is all a joke. The concern for us is still the fragile financial situation at the football club and will the board resist the latest £2million offer from Bournemouth for Gray? The kid is obviously in no hurry to sign a new deal with Birmingham either.

    • Bluenosesol says:

      Yes they will resist it and then accept the £3m “final offer” on the last day of the transfer window.

  • ChrisG says:

    It’s a pity there isn’t a DVD documentary of some sort that could be sent to the HKSE showing the history & passion of BCFC & it’s supporters with a footnote saying that if BIH were to carry on in their current manner then everything they see in the video will disappear sooner rather than later.

    • john says:

      They are not interested in BCFC or it’s history, as for the fans, the only thing they are interested in, is the money they take off us ! One rotten apple in the barrel, has contaminated the rest of them.

  • DAvid goldsborough says:

    Daniel, surely if it is Carson who calls the EGM, leading to the removal of Panos, this in itself would be clear evidence that he is directly involved in issues surrounding the day-to-day management of the football club (by forcing his removal) and as such this should raise eyebrows at the Football League?

  • rhees says:

    Dan, im wondering if the board wasnt happy with carson and pannus plans to sell the club.You say there might have been discord with their plans.
    I like Panos but ive not herd him come out and say hes actively trying to sell the club what do you think.
    Could this be bad for any potensial sale im thinking along the lines of Wrey.
    keep up the good work Dan

    • Eric says:

      Good question…Pannu says he wants to sell – not that he is entirely believable given his antics.

  • DoctorD says:

    So let’s recap:
    1. There’s a boardroom civil war.
    2. BIHL’s shares remain suspended.
    3. The majority shareholder is in prison but seems to be running the show behind the scenes.
    4. The Football League is doing nothing about it.
    5. Bids to sell the club have been mishandled.

    It’s time for the directors to just settle their differences and sort things out.

  • bluenoserob says:

    I notice that Dudley Campbell is in the clear and looking for a club , maybe he could do a job for us for a year or so?

    • poppa999 says:

      Never knew his name was “Dudley”. Tarrah-a-bit!

    • richardm says:

      Perhaps more importantly Matt Smith (ex Leeds and Bluenose fan) frozen out at Fuham and now currently on-loan at Bristol City – what a good signing he could be?

  • Neil says:

    Just a thought, we keep mentioning the FL but this whole debacle started under governance by the PL did it not and they are equally as culpable if not more so for letting this happen in the 1st place.

  • £2M is still a derisory amount of money for Demarai Gray. It is nowhere near the valuation for this young man and so the latest alleged offer should be summarily rejected as the last one was. It is laughable that AFC Bournemouth can possibly expect that their approach will be taken seriously. The same goes for £3M on the last day of the window as suggested by Bluenosesol earlier but if it were accepted then there is clearly no hope of our prospects improving for many years to come. Selling your seed corn is no way to run a farm.

  • Richard Granfield says:

    DAN…..On December 4th you blogged “BIH this morning REQUESTED a halt in trading in its shares pending the release of a clarification announcement by the company”.
    Do I infer from this that it is In BIH’s gift to U suspend their share trading?

  • Richard Granfield says:

    I meant UNSUSPEND.

  • Blue Lizard says:

    The Brown stuff poised above the fan is from Pannu ..that is one thing he is full of!! (my opinion and not influenced by OP )

  • mark says:

    tell you what Daniel its got to be the longest pantomime in history………lol

    • AussieBlue says:

      Right Mark…with Pannu as the crocodile “He’s behind you!”
      “Oh no he isn’t!”
      “Oh yes he is!”
      “Oh no he i………..”
      and so on.

      Cast (horribly mixed metaphors):
      Dick Whittington: Dan Ivery
      Puss: Will Giles
      Widow Twanky: Carson Yeung
      Buttons: Garry Rowett
      Wicked Witch: Pollyana Chu
      Cinderella – Birmingham City Football Club

      any more??

  • mark says:

    i cannot wait until we get to the Extraordinary Extraordinary meeting………

  • mark says:

    just on the footballing front Afc Bournemonth still trying with little steps to get DG….IF they want him that badly i say this show the colour of your money 3 or 4 million should get bcfc talking….not the money that you think he should go for……..kro

  • Tony E says:

    How many shares does the mysterious Wang Li hold, is it enough to call an egm without implicating CY. Although I suppose it would suggest that this person is CY’s partner, which in turn might actually get the HKSE to actually do something against this organisation which appears to think that rules and regulations only apply to others.

  • Dave Mann says:

    Gary rowett said that if anybody offers £20 million then you look at it seriously so bournemouths £2 million looks a little pathetic to be honest..I think, and I’ve said it before that £3/4 million would turn the clubs eye but I hope they don’t budge on there valuation and we hold on to him and add a bit of quality and push on up the league.. Lets all do the Hokey Cokey and turn it round that’s what it’s all about ohhh!!! Kro

    • Bluenosesol says:

      I recall Pannu’s “eye popping offers only” then sold our stars for below market value.

      • Wingman Blue says:

        In defence of Peter Pannu, he didn’t specify whose eyes would be popping, and for what reason. As it turned out it was our eyes popping at the derisory sale prices, so technically he was correct.

        Also there was never a ‘fire sale at St Andrews’ as he also denied. Again, he was right. It was more of a closing-down sale.

  • John Gayle's Tongue says:

    1. Let’s tell AFCB they can have Gray for £5m IF they beat the dozen toes.
    2. Has anyone ever tried visiting Carson in the Shovel? We never seem to hear from him directly.

    KRO

    • almajir says:

      Did you read my article?

      He has three personal visits a month – his missus sees him then, as you’d expect.

      His lawyers see him every day – and as Pannu is in thick with them do you think anyone anti-Pannu would have a chance?

  • Stevie W says:

    Dan isn’t Panos to be or is related to the CY family???

    Also in your opinion is there any love between Carson and Panos at all????

    This tragic battle to me is all about Pannu and whatever hold he has on people within BIHL and CY. If you can find out what that is then that would be scoop of the century.

  • Sid says:

    Hi Dan and all on here,can anyone tell me how on a supposedly civil war at BIHL of 6 directors, how did Pannu retain his role as director when its a even spilt with the chairman being anti Pannu? I’m not really aware of the mechanics of boardrooms but surely the maths add up do 4 v 3 against Pannu.

    • almajir says:

      Cos it’s hard to get rid of a director without a shareholder resolution – which Carson is control of?

      • Strettonbluenose says:

        I’ve not seen and don’t know how to get hold of the BIHL articles of association but surely the board is simply a reflection of share holdings? So there must be 2 large, opposed blocks of shareholders?

        There is little comfort in the situation other than 1) they seem to work something out when the need for cash becomes urgent and 2) they must still have a cunning plan to make money otherwise they would have sold BIHL or let it go to the wall a while ago.

  • Tony says:

    Reading all this crap Im beginning to lose the will to live.

  • richard Granfield says:

    I note that Grant Hall has signed on loan to Blackpool till the end of the season.

  • Stephen says:

    Lloyd Dyer up for loan or sale, I think getting him on a cheeky cheap loan until the end of the season would be a good shout, local lad too, pace to burn & a good scoring and assist record from the wing, could relieve some of the pressure off Demari & Cotterill & would provide some great balls for Clayton & Zig to get on the end of.

    Thoughts??

  • mark says:

    regarding the wigan game hope for a home win……. but a feel this could be either 1-1 2-2

  • neil says:

    wonder if liam ridgwell will play for the latics tomorrow .

  • Dave Mann says:

    Didn’t realise Neal he was back from playing in the MLS but if he his he will get mixed reception I think because of him wanting to leave more so than being told he had to leave but in my case he’s a major trophy winner with us so it will be a good one from me… As for the game, no prediction from me because over the last 14 months at home it’s been a nightmare trying to guess the score even under Gary rowett so I will let you know what I think after the game .. Can I tell you then? Kro

  • mark says:

    Vanishing spray to make league bow i bet where a few who would love to use this lol……….

  • mark says:

    Vanishing spray to make league bow i bet there a few who would love to use that lol………

  • mark says:

    well done to the u21 getting into the semifinals well done olly lee they knock you all they want mate….you prove them wrong lol

  • paule says:

    Yes well done olly Lee, but i don’t know what Marks on about what has Olly Lee proven? Did the 23 yr old ex Barnett player do well for our under 21s if so what is that proving? He is not a championship player and he needs to find his level which i believe is back at Barnett, i wish him well but don’t think he will play for us again.

  • Dave Mann says:

    Great result yesterday though dare I say it the performance was good but not great…3-1, 3-2, 3-1 in last three games and top half of the league only 7 points off the playoffs …are you disbelievers beginning to think its possible because if we continue at this rate we WILL make them and that would be staggering considering where we were 11 games ago.. Donaldson should have had five but a hat trick is fantastic and if he carrys on at this rate it’s a propability more so than a possibility… Buzzing kro

    • Richard Granfield says:

      Gary Rowett has an intriguing way of playing. He wants Blues to play straight passes I.e. always try to pass forward rather than sideways. This tactic means that Blues always has less possession than the opposition, but on the plus side it creates more chances to score.
      The time in possession statistic can be a false indicator of how good a team is. Take the other team in the City for example. 472 passes against Blackpool with 1 goal in the last minute!

      • Shirley Blue says:

        Spot on Richard. No pointless passing the ball sideways and backwards. Defend and attack as a team. If we lose the ball there are plenty back to deal with it so we don’t get caught on the break as much as we used to. There is a purpose to everything we do and the players believe in it and their manager. The transformation in the last few months is remarkable. How nice it is expecting to go to a home match and win and then do so comfortably.

  • Dave Mann says:

    Exactly Richard, 6-1against reading and 3-1 against forest with 35 per cent possession .. We’re playing attacking breaking football and teams are finding it difficult to out score us at the moment,long may it continue kro

  • Chris Hunter says:

    I know its off subject, but just wanted to wish Dan a Happy Birthday for tomorrow, and have a great holiday!
    You fully deserve it for all the hard work you have put in to keeping the blue army informed of all the shenanigans going on in HK.

  • mark says:

    a big happy birthday Daniel from mark and family along with a great 3 points……get in there

  • Trevor Honnor says:

    Does anyone know how possession stats are calculated?

    I can’t believe that Blues are having < 40% possession in all these games and winning so well.

    • Richard Granfield says:

      It’s straight forward. The ball will be in possession of the home side, the away side and no possession I.e.stoppages, out of play etc.
      Knocking the ball about backwards and sideways in your own half increases possession, but is ineffective.
      Playing balls forward (like Blues) risks losing possession, but increases goal chances!

  • Blue lizard says:

    I Don’t read too much into stats..a team can be stuck in there own half playing the ball around looking pretty but doing nowt..I don’t care if we win ugly or however and if it makes us a more attractive proposition by keeping our championship status and gets rid of the crooks in china then whoopedoo!!… GR has done wonders with our current players and gets what he wants out of them by playing to the strengths he has at his disposal(players in the right positions they play is a big start!!)..imagine if he had money!!!
    KRO

  • mark says:

    well well baggies sold out their allocation 5,500 lets hope we brummies sell out our 20,000 to make the stans buzzzing………..kro for the FA CUP DRAW……..

  • Dave Mann says:

    If we don’t get over 25,000 mark when it’s a Saturday afternoon and NOT live on tv then ime baffled and disappointed …we’re playing we’ll, scoring goals, winning at home again and it’s a local derby..what more do fans want instead of the departure of these shit owners which we all want..lets hope it’s buzzzzzziing!!! Lol&kro.

    • mark says:

      empty seats against the wigan dave what more do these fans want jezzzzzz… as i pointed out before, and will keep saying our away fans awesome…………GR hitting a good patch at the moment….. if we cannot fill the stans on what he is offering now, you watch them run when he has a bad patch…….

  • Richard Granfield says:

    I hope demand is such that the Gil Merrick Upper will re-open for Blues fans. Although I hope there are no skeletons up there.

  • Dave Mann says:

    If we fill the ground without the top tear being open I will be more than happy because that’s over 26,000 plus so happy days!! Kro


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