Often Partisan

Takeover Update: There is no update

Birmingham International Holdings released a further update on the takeover situation this morning to the Hong Kong Stock Exchange.

The announcement can be found here – but to paraphrase quickly, there is absolutely no new news within it.

Although it’s nice to know things are still ongoing I must admit it’s starting to peeve me a little bit (and no doubt other fans too) that there is a complete absence of any further information as to how or when things will start happening.

I accept that it could be that there is not much more that can be done while there are court cases ongoing but with a lack of information and/or timetable it’s easy to understand why people get antsy about the whole deal and why people are sceptical about TTA’s motives.

The next update is due December 2. Let’s hope we hear more by then.

26 Responses to “Takeover Update: There is no update”

  • ChrisG says:

    Dan do you know when the next round of court cases are?

  • DoctorD says:

    Could be a case of no news is good news.

  • StevieW says:

    What a waste of time and money posting absolutely nothing. This is starting to peeve me aswell. The team needs strengthening, we were told money is available and now money seems to be a distant dream again.

    It does seem to me someone is putting the anchors on progress, probably to keep the value down on the club for selling purposes or should i say moving us on.

  • zxcv says:

    I am a bit confused as to why anyone should expect any new news of information while as you say Dan that court proceedings are still due to start. I suspect that talks can`t really go much further until we know the outcome of the prosecutions, as the course of actions that both sides (E&Y and TTA) can take will be dependant on those results. Therefore it may be better if the receivers said something along those lines, that they do not expect talks to progress until after the results of the actions. I suspect if something dodgy /illegal has gone on with how shares were transacted that there would be a strong possibility that the court would/could confiscate those share and even disqualify offenders, so obviously without knowing the outcome how can the talks progress. Actually without rechecking didn’t` todays statement say that they will make further statements when they have new progress to announce. Or did it say 2nd Dec, Maybe worth checking Dan.

    • zxcv says:

      Actually seems to say both, lol

      Further announcement(s) setting out the progress of the possible restructuring will be made as and
      when necessary in accordance with the Listing Rules and the Takeovers Code, and on a monthly
      basis in compliance with Rule 3.7 of the Takeovers Code until an announcement of a firm intention
      to make an offer under Rule 3.5 of the Takeovers Code or a decision not to proceed with the
      possible restructuring is made.

    • almajir says:

      zxcv – it was a form statement, there was nothing to glean from it…

      • zxcv says:

        Dan, That’s what I said there won`t be anything to glean from it will there ? I said I don`t understand why anyone should expect any news while the court actions are still on going. So I do not understand your reply mate.

  • Mitchell says:

    As fans we continually live in a blue bubble of total uncertainty. This sometimes borders on fear. As long as the word ‘administration’ is not around then it is a relief. We live in hope of a new beginning but not many fans at this moment totally buy into it.

  • peter bate says:

    Gary Rowett said only last week we can’t compete with the likes of wolves among others even in the loan market so has he been told no more money the whole takeover saga is becoming a joke trillion are a company who rescue companies from going out of business so I believe I’m interested to know what there aims are if they took control of Birmingham international and how high in priorities the club actually is kro

    • almajir says:

      Peter

      There is a difference between zero money and “not being able to compete” – ie spending a lot. It might be that there is money to spend and he’s not sure who to spend it on…

  • peter bate says:

    Dan you probably no more than me but would trillion be able to make any sort of comment to the fans under the terms of having exclusivity kro

  • Mickey07 says:

    It’s like a broken record Dan…the way they do business out there is so slow and frustrating…panos try and speed things up will you ffs.

    • zxcv says:

      How Can he ffs ? Perhaps he should complain to the courts for taking so long fgs. Try to understand will you, Nothing can happen until the court actions are sorted. SIMPLS .

  • Waycoolblue says:

    There is roomers fluting about that we have made a lone of for Martin Odegaard could this be true ?

  • BhamCityJulian says:

    No doubt there is an agreement on the share price to be offered by Trillion perhaps based on the amount of loan money taken up and league position. You would expect Trillion to get a ‘discount’ from the ‘notional value’ of the club subject to how much of their credit facility was used, because it contributed to that value

  • BhamCityJulian says:

    It’s a good job Thomas and Novak have ‘gone’. Odegaard knows he’ll not be challenged here for his place.

  • BhamCityJulian says:

    I think we’ll have a good chance: recent Premier League; recent major trophy winner; recent European football; big city club; intelligent and charming manager

  • Mitchell says:

    Am I missing something here regarding Odegaard? One of footballs prized gems with European managers drooling over him and the most heavily young insured player – thinking of coming to us and the battering of Championship bruisers. If he does then GR is more highly rated than anybody thought.

  • Mitchell says:

    Now that’s a thought! you,me and Mr. Mann signing on loan just to cement the play off positions.

  • Bluenosesol says:

    Don’t expect progress any time soon. E&Y are managing UK proceedings for the creditors of my employer who failed early in 2009. Its not E&Y’s fault as they are just managing the fallout and dependant on foreign jurisdictions, but just a warning that commercial resolution of broken businesses can take years and years and years. Best just forget about the commercials and concentrate on the football. So there’s the depressing bit but now – BRING ON BLACKBURN!! KRO!!

  • zxcv says:

    Bluenoseol, It will take at least until the end of the proceedings against CY and PP1 ext before any sort of progress let alone a completion. But I think it is a bit further down the line than you suggest, The whole thing will have been yrs and yrs and yrs, but once these actions are sorted and depending on the results it could come to quite a swift conclusion if in E&Y favour. .

  • chudlt says:

    As the wife says “They are never going to sell so best we just enjoy the football”

  • How minds change ,at the start of the season every bluenose would have taken our league position gladly at this time .and who would have believed at the end of last season Chelsea would have been where they are now , such is football , it has been said that blues have punched above their weight in being where they are , RUBBISH, they do not look like a top side admitted but the passion has been there and so has the graft , and so has the true grit and that is 75% there , our opponents have found our Achilles heel , we have managed to get where we are with a miserly shots on target score at times due to very accurate attempts on goal , now we have to find a way to create more shots on target with our pace panicking defences in the final third to give the ball away to us , and getting more players and balls in the box , where most goals are scored from , give the sub’s more match time , come on get behind the team again , kro


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