Often Partisan

BIH Announcement – Takeover still ongoing but no further news

Birmingham International Holdings have released an announcement to the Stock Exchange with relation to the ongoing saga that is the proposed takeover by Trillion Trophy Asia.

You can read the announcement here. However, to sum up – there is no further news. The announcement is a form statement saying they’re still talking and that they’ll continue to update shareholders.

Unfortunately, this is the way I expect things to go for a while further. My understanding is BIH aim to sort out relisting by Chinese New Year (February 6, 2016) – which of course is only a step towards the sale being completed… in other words, there is a way to go yet.

Why – I don’t honestly know. It might be that the court cases currently underway against Carson, U-Continent and Amazing Top International Enterprises Ltd need to be resolved first. Carson and ATIEL are in court on October 20, as stated on Monday.

The next announcement is due on or before October 30.

45 Responses to “BIH Announcement – Takeover still ongoing but no further news”

  • John Ramsay says:

    Although it would be good to see the sale of the club and BIHL resolved things do seem to have stabilised after the maelstrom of the last few years thanks to E&Y and Panos. Whilst things are going well on the pitch maybe we can all relax and let matters take there course.

    • zxcv says:

      First of all thanks Dan for the update, guess we kind of knew that not much new information would forthcoming as you say other issues need to be sorted before things can progress.

      John, I could rest a whole lot more easy if Gary had been allowed to use (as in bihl words) or so we were told, the Majority of the loan of around13 million quid on the team strengthening. Even a small proportion say 2.5 to 3 million on two decent defenders that we so desperately need and which could be the difference of a play off place and mid table ish.

      We simply can`t go on for to long using a 37 or 38 year old Centre half and expect to stay in the chase, it will cost us in the long run. I would like to know why they told Dan I think via a reply to his email that we would have the majority of that loan that was after all secured on St Andrews. I would like to know if we will be allowed to purchase at least a established c/h in the Jan window if we are still in with a shout of the play offs , Can Panos tell us what we now have left to spend on Signings, I know we renewed contracts ext But we don`t pay contracts up front do we they get paid out of future earnings ext So please Mr Panos can you please speak to us .

      • atko says:

        You are assuming that GR hasn’t been promised the money right? How do we know he simply hasn’t found the player(s) he is looking for? A wise Manager doesn’t go & blow everything he is given the first sign of the purse strings. It’s Blues practice not to publish anything until any deals are completed so he might have enquired about players by asking what sort of price tag would a club put on a player if he were interested & drop his interest when they are not within our price range. We don’t have to put in a bid for a player to find out he’s out of our range. The plan might have been to always wait until the January window anyway. I find you know more of where you’re at in January.

        • zxcv says:

          No wrong, I am not Assuming (your opening question) I said quite clearly, We were told Via Dans email I think it was that the majority of the loan would be used to strengthen the team.

          Also your last point was exactly the point I made.
          . I would like to know if we will be allowed to purchase at least a established c/h in the Jan window if we are still in with a shout of the play offs

          So not sure what your point is.

          • BhamCityJulian says:

            I expect there is some money in the pot for January. If at that point they think a decent play off push is reasonable but the funds don’t strength to their target players they can put in a business case for more. However just reaching the playoffs is no business benefit unless they win them and those games are high pressure where even the best don’t achieve so it’s a risky incremental investment

          • atko says:

            My point was you said ” I would like to know why they told Dan I think via a reply to his email that we would have the majority of that loan that was after all secured on St Andrews.” which indicated to me that you doubted it would be. Sorry if I mistook your point.

      • swissjonny says:

        Well put mate.You are spot on.

  • ndf says:

    With the announcement this week that Wolves will be put up for sale and therefore joining Villa, West Brom and ourselves as available in the West Mids then we are actually in a favourable position as there will not be many out there with the desire or the funds to buy a football club at the moment. At least we have a preferred bidder in place and however long it takes the stability that brings is a good thing.

    • WalmleySteve says:

      We may indeed have a ‘preferred bidder’ in place, but the reality is that the bidder has no interest in owning a football club, but instead is an expert in stabilising distressed businesses with a view to selling them further down the line and making a pile of money. TTA are simply providing BIHL with a life-support machine while E&Y sort out the mess. We are at a very early stage of a very long process to my mind, and TTA will not be the ultimate long-term owners of either BIHL or BCFC.

  • ChrisG says:

    Is no news good news?. I wondef if Steven Knight has any plans to make this into a movie, he could call it League Cuts & Egg Cups!!!

  • atko says:

    Dan, can I ask, as this is the usual monthly statement to the stock exchange, were you expecting the latest figures to be published in a separate statement or not? If not then are we to assume they may be late? I know we are expecting them at any time.

  • Mitchell says:

    There comes a time in each and everyone of us when we ‘lose the interest’. This is no disrespect to Daniel who I hold in high regard and always be grateful for the updates- but the saga has gone on too long and the future possible resolvement is now too far off to hold anymore interest. Pitch matters is all that concerns me and whatever division we play in – that is what holds me. I cannot help the way I have ‘lost’ the appetite, but the years of Pannu and ongoing court appearances for Carson etc.have sponge it all. Blinkered yes, but footy on the pitch is my way forward now.

    • Pete says:

      Youve lost interest because with Rowett in charge and the squad massively overperforming, there is something more interesting to talk about. Its all gone a bit quiet on the takeover front which is exactly how it should be until they have something to tell us.

    • Dave Mann says:

      Hear, Hear. Kro

    • almajir says:

      So if it all goes tits up, and we’re forced to sell all our players – will you care then? Will it not be too late then?

      • 55 years of hurt says:

        Don’t be such a bloody “drama queen”.
        The point is that until there is something more concrete to report then the issue of the proposed takeover is of little interest to supporters.
        Should the deal collapse then, yes it would be too late, but then there is nothing that we, as supporters, can do to influence the situation.

        • Shirley Blue says:

          Some of us are interested in what is going on. If you are not don’t read it. Dan can do what he likes with his time.

          • zxcv says:

            I totally agree Shirley, I think its more important to get the sale of the club sorted than any talk of promotion tbh.If it did go tits up you would all be asking Dan why he didn`t tell us what was going on, Like Shirley said don`t read it if your not interested. Personally I want to know every ounce of detail Dan can get his hands on, SOME, not many, should show a little more respect for the tremendous amount of his time he dedicates to this blog as well as doing his daytime job.

        • almajir says:

          Do you speak for all supporters with that statement?

          • zxcv says:

            he certainly doesn`t speak for me Dan, I want to know even if someone farts in HK if its owt to do with BCFC.

          • 55 years of hurt says:

            No more than you do.
            You have no news to report but that still doesn’t prevent you from commenting. Fair enough but don’t then have a “hissy fit” when another poster pointed out that he was not interested in the saga until there are more detailed developments.

      • paul whittaker says:

        I was under the impression things had already gone “tits up” and
        what is happening now is the slow progress of straightening all the problems out
        Great work Dan you’re doing a fine job
        KRO

    • Bluey says:

      You`re not the only one who has lost interest in all the crap going on behind the scenes.I was at that stage a long,long time ago and talk of suspension of trading,E & Y,takeovers,court appearances etc leave me cold.I just can`t muster any enthusiasm and actually never read the announcements to the HKSE anymore because it`s the same old boring dross time after time. For my money it`s probably best to forget it and try to enjoy the playing side of things because imo this is going to go on for a good while yet.

  • Mark Ryley says:

    Or are they waiting to see if we get promoted

    • AdamTrueBlue says:

      Good point, but surely if we get promoted then we will be worth more and a propective buyer will have to pay more! Now would be the best time to buy us, not too much to lose and a pot full if we go up.

  • Oldbluenose says:

    Perhaps,?. we should all assume that NO news is good news for the moment,?.

    We can concentrate with ” on the field ” matters, and allow E and Y, to carry out their clean-up program
    as we should all know by now, — H,K. related matters take quite a bit of sorting out,!!.

  • Mitchell says:

    Daniel, I do realise the implications of the tits up scenario.It is just that over the last two plus years I have tried to promote the club from afar as US to Germany showing videos of our great city to financiers illustrating the great amenities that the city offers( NIA, World class cricket, World tennis,Alexander Stadium,New Library,Symphony Hall and many more. Every corner you turn the same problem arises with the complicated scenario within CY orbit and the general feeling of ‘don’t touch with a barge pole.’ Local radio have chipped in and good man Tom Ross has tried his utmost through his programmes including the frustrating interview with Pannu on an evening when Pannu would not have a two way Q & A with fans. He too must have felt like myself at times when sponged out with it all comes to mind. However,you are right the bigger picture is not what happens on the pitch but the clubs financial status. Always will be. Perhaps like yourself recently- I need to take an hiatus and return with new vigour.

  • StaffsBlue says:

    I would think that, if anyone were interested in a takeover, all the court cases and any investigations would have to be sorted beforehand. A clean slate is what’s needed… which could take a very long time. Common sense really.

  • Dave Mann says:

    I fully understand the ‘tits up” but we can’t do anything about it as supporters than support our team with season tickets , merchandise and carry on doing what we do best .. The people involved in the takeover saga will do there jobs so I for one ain’t gonna spend sleepless nights worrying about the dam ownership because it will take it’s cause and there still be a bcfc after all the water as run under the bridge .. Going to Leeds Saturday is my only concern and enjoying it after our good win last night . Kro

  • Seems to me that TTA don’t know what they want , and all this monthly spread of doubt with lack of commitment is not doing the team or fans any good , and at the end of it ,if all this is about is getting control of the ground and a list on the stock market ,then we could find it harder to sell the club complete , and in a worse situation than we are in now ,E&Y have got to earn my trust I am afraid , the team is doing well and if they don’t know whether to commit now then I can’t see them doing it ,

    • zxcv says:

      Its not about committing now is it, Like Dan said one of the most important issues is getting the business listed again, No sale could or would ever be agreed without a listing how could shares be bought or sold with out it. Its a bit like trying to sell your house without a roof on it or a car with no engine.lol

  • Hillfield Blues says:

    The monthly announcements from E&Y are predictable at the moment but Dan did say that’s what he expected. Just because they’re not coming out with news of imminent sales,they are still very relevant to BCFC and all E&Y are doing is fulfilling its obligation to inform the fans which is a lot better than what it was like before when we heard bugger all for months on end.
    Our success on the field has been a fantastic diversion from 3/4 yrs of crap and been like a breath of fresh air to all of us but people who suggest that they’re not bothered by what goes on in HK because of that are being blinkered.

  • atko says:

    “There is no assurance that any discussions mentioned in this announcement will either be materialized or eventually be consummated. As such, the discussions may or may not lead to the making of a general offer for the shares of the Company.”

    In other words whilst there may be no news to report each month as long as this remains the case then they remain interested in the Company. No news really is good news in our case as these ‘nothing to report’ notices each month serve to remind us the interest is still there as boring as it may be.

    • zxcv says:

      I think now you know why both sides agreed on a two year exclusivity deal. Like has already been said shares can`t be traded unless listed and then there is the court cases to be settled against CY and Pannu. I think both sides E&Y and TTA knew of this lull so to speak so I doubt there will be much in the way of talks to complete any deal until all the above is settled. But they still have an obligation to make these announcements to Share holders regardless of content.

      Also every single announcement has a number of standard sentences they put in like no guarantees a deal will be done ext and shares remain delisted.

      • zxcv says:

        I actually think it is more appropriate to say that TTA gave E&Y two years rather than the other way round, I think both sides knew which way it was likely to go and that it would be a long drawn out process, and maybe that is why they were chosen as the preferred bidders right from the beginning.

  • Blue grahami says:

    If I was TTA I would be using the time wisely and with plenty of time to talk to perspective buyers of blues if they choose to after buying bihl, work in progress basically I would have thought so when they get a squeeky clean company handed over it will be easier to hand over by way of sale of bcfc.Just out of interest if Vw own (not just sponsors) of Wolfsburg I can see a parralel point of view for Chinese owners buying bcfc who happen to have connection, business interests in Birmingham, car manufacturing and investments in property here.land rover, jaguar mentioned before I know but Chinese looking to invest massively in Brum on all fronts. Not a Pipedream, but perhaps wishfull thinking BUT talks ongoing at all levels I believe and yes in the know or not !

    • atko says:

      The thing is Grahami, TTA cannot begin any talks with prospects for Blues until they actually own BIHL because there is no guarantee they will actually take over BIHL at this stage. If they did that then they would be using their time UNWISELY spending time on something that might not happen.

      On your other point, I’m not saying I would be completely unhappy with investment from another Chinese investor but I would be very wary simply because the Chinese market is not what it used to be & is going through a bit of a rough patch right now. We all know that owning a football club might seem on the surface a glamorous thing but we also know it costs a lot of money often with little return unless you’re in it for the long haul looking to build to complete with the likes of the Manchester clubs, etc. Then you have to have huge pockets AND equally as important if not more so, superb management skills & by that I mean management of huge companies rather than management of a football team.

      You have to understand the football infrastructure & combine that with the business world. I’m confident that we have the right football manager in place long term & with the right owners they can work together & build this club to what & where it should be. The only way that can possibly happen is with serious investment with people who know business. With the Chinese market so uncertain would they be prepared to be around long term or would they be looking to withdraw if the going gets tough in China.

      I like the way Pavros is working with GR at the moment, he knows business & is learning from the football side. I would be more than happy to have investors come in with a serious amount of money who know business & have Pavros installed as a Director of Football type role. He gets on well with GR, he understands business & can be that bridge between the business side & the football side that can make one side or the other understand the needs or practicalities of the club.

      • BhamCityJulian says:

        If TTA are think of quick sale of #BCFC after they’ve bought BIH, then they will have to patachute in another trading company to keep their newly acquired HKSE listing.

        There’s no reason at all not to be lining up a buyer for #BCFC and finding a business for BIH to buy to teplace

  • john says:

    For all the “supporters” who booed the team off the pitch last Saturday, this information about the ongoing saga in Hong Kong, should be yet another reminder, that what Gary Rowett is doing with what amounts to a team made up of, at best, average championship standard players, is not much short of a miracle. If we finnish half way or better, it will be fantastic.

  • Dave Mann says:

    If there average championship players at best then finishing half way is par for the coarse Is it not .. I wouldn’t say Gary is working miracles if we finish 9th to 12th , I expect that .. Working miracles would be getting us in the playoffs and at the moment that’s what he’s doing which would be a miracle ! Kro


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