Often Partisan

BIH Announce Five Bids Received for BIH/BCFC

Birmingham International Holdings have today announced that five indicative non-binding offers have been received with respect to acquiring an interest in either BCFC or BIH.

The announcement confirms that the bids are being looked at by the Receivers stating:

Given that it is the intention of the Receivers to continue operating the Company as a company listed on the Stock
Exchange, and accordingly to fulfil all relevant sufficiency of operations requirements under the Listing Rules, the Receivers are currently in the process of reviewing and analyzing the Indicative Non-binding Offers

This follows rumours posted on this site on Thursday that Goldin Financial had been soliciting bids.

As of yet there are no further details

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43 Responses to “BIH Announce Five Bids Received for BIH/BCFC”

  • rhees says:

    Interesting Dan but can cy block these

    • almajir says:

      It has to be comply with stock market regs… which means shareholder approval

      • rhees says:

        There’s hope then I don’t really understand all this so fingers crossed thanks for the update

      • bluearmyfaction says:

        …which, if Yeung blocks, demonstrates to the League that Yeung is still in control…

        Plus we don’t know the terms on which E&Y are running the club. If they have the shareholders’ power, E&Y can exercise that.

      • Agent McLeish says:

        Company law is complex and I’m sure it may not be as simple as that. I could be barking up the wrong tree but have company transactions not previously taken place where a HKSE agreed prior mandate is used in place of shareholder approval?

  • Mineheadblue says:

    Well, I guess that at least it shows that someone’s interested……..

  • Adrian D. Duffen says:

    Is there any room to have C.Y. prevented from using his shareholding as he is currently serving time at Hong Kong’s leisure? Especially as he was done for money laundering?

    Although that might make it harder as he would surely appeal etc.

  • Blue Steve says:

    Who knows what Carson wants. He recently said he did not want to sell so from that point there is no way we are going to get share holder approval. If the offer is very generous maybe he will have a re-think.

  • ian ambrose says:

    BIH Announce Five Bids Received for BIH/BCFC Who name of company five Bids takeover at blues?.. Needing proof blak& white and Good Luck tomorrow

    • almajir says:

      Ian

      They won’t give names yet….

      • ian ambrose says:

        Ok almajir, Who hoice by vote blues fans or BIH/BCFC???…. Good luck tomorrow ??

      • Hi Dan Firstly, can I still get the book from the made in Brum sellers outside the ground. This Friday? Secondly, is the appeal tomorrow & what is CY Appealing? Also what does all this mean as best as you can summarise? Do we have anyone at the appeal to report back? “In 50 plus years following the Blues I believe this is the worse position we have been in ! I still go to all the home games and away when I can! Keep Up The Good Work Dan – my Sons and I are members of the Blues Trust and we do rely on you for a lot of information ! Keep Up The Good Work – KRO !

        • almajir says:

          Steve

          Drop me a line – almajir@oftenpartisan.co.uk and I can sort it out for you on Friday.

          It’s not the appeal tomorrow – the original hearing has come and gone. He was appealing his conviction… we’re waiting to hear when the judgement will be handed down from the Court of Appeal.

          Yes, someone will be in court tomorrow hopefully for the Summons hearing.

  • zxcv says:

    Oh don`t you just love the timing of all these announcements, lol It makes it even more intriguing now what tomorrows appeals and CY trial appeal brings. I can only see two ways this will go Carson will have to agree a deal only option for him, or face insolvency where he wouldn`t even have a say.

    • almajir says:

      Except he would, as I’ve explained before as he’s one of the main people behind China Energy. ;)

      • Dan says:

        But wouldn’t he and his pals at Chine Energy fail the fit and proper people test?

        • almajir says:

          Why?

          The connection isn’t strong enough for them to be seen as a direct contact like his wife and they’ve done nothing illegal. The owners and directors test isn’t worth the paper it’s written on.

      • zxcv says:

        China Energy would get paid off as a creditor regardless of any CY involvement either way so I don`t know what your point is?

  • tonyc says:

    So if they want to keep bill on the stock exchange and buff is their only real asset then selling the club outright will be a last resort and very unlikely.I can’t see us ever getting shot of these clowns if bill get more financial investment.

    • tonyc says:

      Sorry predictive text is bloody annoying..
      So they want to keep bihl listed so selling blues will be a last resort and more money invested in bihl will just keep us in limbo and we’ll never get shut of these clowns.

  • DMC says:

    Is it different in HK then?

    In the UK the board approves a takeover rather than a vote of shareholders (thats how Gillett and Hicks got booted out of Liverpool for Fenway if I rmember)

    • Stu says:

      Except BIHL is a HKSE listed Company so no subject to UK rules and regs
      Whatever happens CY’s consent is requested. As I see it he’s holding a good hand and it up to E&Y to play by the book in an effort to uncover any wrong doings (if any) that have happened within BIHL concerning CY

      • DMC says:

        which is why I said is it different in HK!

        if its board approval like the UK then Yeung isn’t a board member or a majority of his proxies so has no say, if its a shareholder vote he clearly does have a say

    • chris says:

      as far as i am aware Liverpool wasn’t a stock market listed company with thousands of shareholders like BIHL has.
      the owners / shareholders were only a few people i believe????

    • AussieBlue says:

      Don’t think that’s right DMC. Board can recommend that shareholders accept an offer and they usually get the support of major shareholders first. Then they go to the smaller shareholders saying ‘we recommend you accept this offer because it is XY% above market value.’
      Last play is the squeeze-out where minority shareholders who would not sell get compulsory acquisition orders slapped on them.
      As always, small shareholders get stiffed.

  • Stevie W says:

    Plan A and Plan B wheels in motion April tomorrow.

  • Oldbluenose says:

    As I stated a few days ago, — we just have to sit back [ Strap-in ] and wait,.

    Daniel;, If push comes to shove, — Would a majority shareholders vote win the day to allow any possible sale,?.

  • Adam True Blue says:

    Correct me if I am wrong but if CY gets away with it tomorrow! He can not immediately take charge of things or replace people on the board, if he wishes to do this he must first apply to the courts for the removal of EY and they might decline.

  • Mitchell says:

    Just when it was safe for us to put our heads in the oven..up pops this latest news that gives us HOPE!. When will all this end.

    • Blueboi14 says:

      Bad news…

      The news has always alternated from ‘Hope’ to ‘Suicidal’. So today brings hope, we know what tomorrow will bring…

      Time to preheat the oven i guess!

  • The Francis Fake says:

    What has always worried me is that I can’t see why CY will sell prior to a removal of the freeze on his assets which can only be lifted when he has successfully appealed and that a re-trial. This I feel is the biggest reason he has blocked any previous sale. He could be get off as early as tomorrow or we could be still in limbo. Therefore, I can’t get too exited unless there is some circumstances that would enable E&Y to sell without shareholder approval. However, if Carson can get off he might be willing to access the cash from a sale, although he as always wanted to extract the value of BIH as a quoted company as part of any structured sale process.

  • Blueboi14 says:

    And the 5 bidders are: –

    1) Carson Yeung.
    2) Peter Pannu.
    3) Arjun Gurung Kumar (1st of the 3 introduced as directors at the recent EGM)
    4) Joanna Wang Manli (2nd of the 3 introduced as directors at the recent EGM)
    5) Li Wen Jun (3rd of the 3 introduced as directors at the recent EGM)

    I may say this in jest, but what’s the chances that one of the 5 bidders are connected to CY for no other reason than to find out as much info as possible on E&Y maneuvers and/or to have the ability to stall proceedings in every way possible.

  • Richard Barron says:

    Dan, surely E&Y’s job is to keep BIHL afloat financially.

    It seems to me that the only asset they have is BCFC, which by selling it will give them a cash injection and keep them going.

    Without that surely they will go under as they have no other business interests?

    I really hope that this is the beginning of the end.

  • Dave Mann says:

    State the obvious Richard!! Kro

  • Blue Lizard says:

    Worrying that tomorrow is also April 1st…lets hope it’s not the biggest April fool joke ever!!!

  • Dave Mann says:

    We’ve been April fools for the last 4 years so what the hell !! Kro

  • AJ says:

    If the price is right he’ll sell, so come on down Mr ……

  • martin russell says:

    Encouraging news at last and thanks again Dan for keeping us up to date. But surely any bidder and / or consortium would want to buy us lock,stock and barrel ? I mean,would any bidder in their right minds even think of investing in the current regime ?

  • bluearmy15 says:

    I’m thinking blues fans could be subject to a few April’s fools tomorrow

  • mark says:

    well done to reece AGAIN…GR take your rose tinted glasses off and give this young bluenose a chance in our first team………..

  • mark says:

    why is where interest…. well because we got diamonds and nuggets just waiting to given the chance….to play…these are our future….the U21 looks bright its blue…………….

  • bigupdabluez says:

    I really really hope ersnt young sell some of bihl this loonacy has to stop somewhere every man and his dawg nose yeung is still running tings its about time somebody shows some ballz from bihl so we can be finally rid of the clown


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