Often Partisan

BIH: The Home Straight

It’s now just eleven days before the scheduled date for the resumption of trading in shares in Birmingham International Holdings on the Hong Kong Stock Exchange – and with it the completion of the takeover of the company by Trillion Trophy Asia.

With this in mind I thought it might be an idea to talk about what is going to happen in the next couple of weeks – and what I’m expecting to happen.

Public Announcements

The next public announcement with respect to the takeover is due tomorrow – and that will confirm the allotment results of the open offer, with another announcement due on Tuesday to confirm the completion of the open offer, the share subscription and new convertible note subscription. In lay terms this the mechanics which effectively reduces Carson and his concert parties’ shareholding drastically and puts Paul Suen and TTA in charge.

There will be a third announcement a week today to confirm all resumption conditions have been met. That will also be the day Ernst and Young are finally discharged as Receivers to the company, with the resumption of shares due on Monday 17th October and an announcement confirming all agreements with Carson et all have been completed, handing effective control to TTA.

Potential Obstacles

The process has been a very lengthy one but we’re very much in the home straight now; today is the last day in my mind that things can go south as after today the underwriting agreement which has backed all this cannot be terminated. However, I don’t think much will actually change – TTA have been working with EY for some time now and while their name hasn’t been over the door I think it’s truthful to say TTA have been calling the shots.

It’s for this reason that I’m also pretty sure that the paperwork the Football League needs to do to sign off TTA as “fit and proper owners” has also been completed and there will be no hold up on that front either.

What happens next

I think some people are expecting some sort of press conference or announcement about future plans on Monday and I am almost certain they are going to be disappointed. Paul Suen is not one for the public eye and BIH will not be his sole listed company either; indeed, by the end of October he should have completed a purchase of another company on the HKSE, meaning he will have control of four concurrently.

In effect, that means the position of Panos Pavlakis should still ultimately be an important one, as I understand he will continue to be the public face of the company – and while Panos has no title at the club other than “Director” I think he will continue to function in a Chief Executive style role as he has been for a while.

In short – this is it. For better or for worse, BCFC will have a new ultimate owner in TTA and for the first time in as long as I can remember – maybe since Ken Wheldon – one single person will own more than half of the club.

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45 Responses to “BIH: The Home Straight”

  • BhamCityJulian says:

    They’ll be a précis of the HKSE announcement on the 17th if only to use as a press release. This will be the moment to tell all the ‘I’m not coming back while he (CY) is there’. If they don’t believe it then they never will.

  • OldBlue says:

    I am waiting to find out who the directors of the relisted company will be (other than the obvious of course). Half expecting a familiar name.

    • almajir says:

      They’ve already said – but to repeat: Paul Suen Cho Hung and Daniel Sue Ka Lok for definite; I assume Chan Yuk Yee too based on information from HK.

      Any of those what you’re expecting?

    • BhamCityJulian says:

      For gawds sake OB – CY and PP1 have no connection with TTA

  • Lich Blues says:

    Such a great feeling that this shambles is drawing to a close. I would be happy with Panos continuing in his public role and feel it is important that communication about TTA’s intentions are fed back to fans to avoid that remote feeling we had under Carson even before it went tits up.

    Spot on Julian – we are playing well at the moment, the ownership saga is nearly put to bed so if people don’t come to the games now due to the ownership etc they are taking the Mick. The attendances at Stans are poor. But you can guarantee we’ll sell out of tickets if we reach the play offs.

    KRO.

  • ChrisG says:

    I wonder if anyone from TTA will be stood in the kop holding up a blues scarf?. I have this image of Paul Suen stood there with a brown paper bag on his head or a ninja style mask!!!

  • WayCoolBlue says:

    It’s All good and well not having a press conference and I understand the reason for not having it but we do need some sort of message to the fans informing us of what is planed for our club. And where Mr Suen sees us in the next 2 years. Panos could deliver it direct to us the supporters we disserve that much at lest after all this time. A positive statement of intent Please .

  • Neil says:

    Thanks Dan for saying as it is can I ask you Dan is the word in HK saying Mr Suen is a welthy Man neil

  • Paul says:

    I like the idea the new owner is not someone who wants to get into football for the fame and attention. Last thing the club needs is a clown coming in throwing money at the club and demanding instant success. The club seems to be running well at the moment at a steady pace. I think the fans coming back in big numbers might not happen though as they might want someone coming in spending millions on players which I don’t think will happen.

  • Shane says:

    I’m not coming back until Rowett has gone and we get Lee Clark back

  • DoctorD says:

    Dan – good news. Let’s hope all is cleared in the next 11 days. Maybe it’s soon to look back, but when do you think we were at our lowest ebb?

  • Agent Di Matteo says:

    I’d rather a media shy owner than one that posts a load of drivel on social media. I hope that Panos remains in place to direct the club. I’d like to say goodbye and good riddance to CY.

  • Art says:

    Good news Dan,

    Any prospect of Pannu and Carson being prosecuted for their financial misdemeanours?

  • Dave says:

    Can’t wait Dan give Steve Bruce the money January Robert will be at derby by then Dave the Warwick blue nose

  • Dave Mann says:

    We’ve already sold out our first away game under the new owners at Burton on the Friday night live sky game on the 21st… Will we know sell out our first home game against Rotherham on the Tuesday night , the day after its finalised ??…. Well all the Carson stay aways should be returning shouldn’t they ?.. Ime expecting 25,000 plus ! ..hang on Dave your having a laugh ain’t ya!!.. Yes I think I am , more like 15,000 plus again ..ah well atleast were be there . KRO

    • ian says:

      Blues fans won’t full house at blues cos shit carson (cy)!!… Need new face business wide world take over at blues will be full house bring BLUES FAN ON HERE support to Gary Rowetts !!!

    • Terryo says:

      Dave why are you such a cock?

    • Bluey says:

      Stop stressing about our attendances Dave,it is what it is. We`re not a big club and our crowds (imho) are respectable enough comparatively speaking. When you think about the crap we`ve had thrown at us over the last few years i think we do ok. Of course i`d like more but we need to be realistic. KRO.

      • Dave Mann says:

        I am realistic and stress is something thankfully I don’t suffer from Bluey but thanks for your concern . KRO

  • swissjonny says:

    Dear Terryo, In defence of our fellow correspondent Mr Dave Mann and your likening him to the male sexual organ I would wish to respond as follows. Mr Mann is both consistent and loyal in his following of our beloved team . The male sexual organ is neither consistent or loyal.Our new owners are business men and we will have new owners shortly- that is to say after the expiry of the 2 year period. Is the new owner a member or supporter of TTA?

    • Dave Mann says:

      Shows his intelligence Swissjonny to be honest , brainless . KRO

      • almajir says:

        Can we not act like children please?

        Dave – you’ve been warned before

        • Dave Mann says:

          Dan , with respect all I was doing was sticking up for myself which I’ve done all my life , it’s alright for people to have a go at me but ime not allowed to retaliate and this time with a smile and no bad language used , you retaliate with sarcastic remarks a lot of times to fans comments but because it’s your baby it’s do as your told , thanks for that . KRO

  • Andy says:

    The next big question is……….

    Will there be a follow-up to Haircuts and League Cups about the sun finally going down on BIH?

    • almajir says:

      At this moment in time, probably not. I’d like to do it but I’m incredibly busy with work and other projects at the mo.

    • BhamCityJulian says:

      BIH is not disappearing into the sunset. It will still owns 94.6% of BCFC plc and may try to get the remainder. The majority shareholder of BIH will be new – TTA. I’m not sure what %age they’ll have (cue – Dan)

  • nicko says:

    TTA have been over they were at the QPR game and they will be over again I believe they have been impressed with how the club is run

  • Martin says:

    Pannos as CEO , Rowett as Manager, new owners, one defeat all season , what is there not to be proud of KRO SOTV.

  • Martin says:

    oh yes and our friends from the other side of town in a shambles !!

  • Eric says:

    I look forward to the next phase – TTA selling Birmingham City Football Club to British owners headed up by Trevor Francis. This will bring the crowds back. KRO Blues

  • Gary R says:

    Dan,

    All sounds positive, sounds like Paul Suen has fingers in a few pies!

    Might be able answer this Dan, but has Dr Tony Xia and RECON acquired these other HKSE listed companies yet? I thought they were on the verge of doing so…

  • tarantini says:

    Well done, Daniel for following this right to the bitter end – not least for interpreting this tedious accounting / legal farce for us dimwits. Let’s hope that we can get down to some serious business on the pitch, with recent acquisitions like Shotton, Juke & Adams being a sign of a coaching team which deserves backing. KRO

  • Sid says:

    Thanks Dan. You have been an amazing source of information with regards to the ownership. Had i not had your dogged investigative journalism and God knows how good you’d be if you had the resources and time that those had at the Mail have by the way, to keep me going, I would not have a platinum band season ticket. Keep up what you’re doing, commitments permitting. I’m cautiously optimistic mainly because this take over, though drawn out, has been done properly. As a supporter of many years, I’ve seen us through what feels like everything, stabilization is what our club needs. Panos has done an amazing job. Clark might have been clueless when it came to player positions, tactics and formations but he could spot a player, worked under severe money restraints and showed passion and a love our club. Rowett has been able to benefit from what Clark did and has pushed us on. I’m not a fan of his safety first policy but it works. The stay aways should be ashamed of themselves but it’s their choice. A choice, I for one am glad I didn’t make.KRO and SOTV

  • Andrew says:

    I think its for the better..


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